Bush Losing Support Of Financial Services Companies On Private Accounts

...Weisman’s story shows that those polled in their 40’s and 50’s see little gain for themselves in Bush’s plan, while those in the younger age groups who do support the Bush "plan" are the exact age group who are ambivalent about politics and don’t engage enough to make a difference. In other words, Bush and Rove have pinned their "generational warfare" strategy on an age cohort that 1) voted for Kerry, and 2) aren’t politically engaged or knowledgeable enough about politics in general or Bush’s "plan" in particular to be an effective counterweight to the older voting groups who are increasingly against the plan.

---snip

The financial services industry, which has given large sums to Bush and the GOP to push private accounts, is now backing away from Bush’s effort and claims that they only wanted to see reform of Social Security, not necessarily private accounts. This may be the most significant development of the month on this issue, because once you see Citibank, Goldman Sachs, American Express, and others leave the playing field and stop supporting private accounts, you will see other defections on Wall Street, whose firms are feeling pressure from organized labor and the AARP.

And lastly, Alan Greenspan, in his latest performance as someone who wants you to forget his culpability for the financial crisis he helped create with his support for Bush’s deficit-inducing tax cuts, once again tells Congress this morning that they need to deal with Social Security now. He says this at a time when Wall Street is abandoning private accounts under pressure and against the backdrop of falling poll numbers for Bush on the issue. Thanks Alan for that advice; now go away, you pathetic political hack. (Yes Senator Reid, I agree with you wholeheartedly on that one.)

http://www.theleftcoaster.com/archives/003914.php

:-)

Blessed Be!!!!!

:bounce:

and force a vote that will pass by one vote in each chamber.

He's done it before...and I'm not feeling to hopeful these days about America and where its headed. We're all fucked.

All of a sudden one day soon we'll be hearing that overnight Tom Delay held the vote open all night long while he hammered and thumped on his fellow rePIGS and at daybreak it was passed.