Right Thinking From The Left Coast
Do, or do not. There is no 'try'. - Yoda

Tuesday, October 26, 2010

Things that make you go hmmmmm?

One of Wall Streets corporate giants, you know, one of those evil company our resident class warfare spouting communist pretending to be something else accuses of running America with help from the evil republicans, just endorsed Obama and demcorats.

On the eve of the midterm elections, the giant mutual fund firm Vanguard has weighed in on the side of President Obama and the Democrats with a blog post by a company official declaring that without President Obama’s stimulus bill, Americans might be facing a scenario of “unemployment of 15% or more. A Dow that would have fallen 75% off its peak—to 4,000 or less—before recovering to a level much below today’s. An economic recovery that might not yet have begun. And finally a foreclosure crisis even larger than our present one.

“The author of the post acknowledges that it is a “guess,” leaving Vanguard investors (including this one) wondering why company officials are publicly guessing about politics and public policy so close to an election. “The idea that no third stimulus was needed seems mistaken,” the Vanguard official writes, acknowledging, however, that the spending bill “could have included more tax cuts relative to spending (though the tax cuts would have been best targeted at low-income households, who are more likely to spend the money).” Among the “mistaken,” apparently, according to Vanguard, were every single Republican member of the House of Representatives; they all voted against the stimulus bill.

If you go by campaign contributions, Vanguard isn’t alone in backing demcorats either. Despite the massive propaganda, republicans can’t come close to offering the return on investment demcorats do for these companies. And even though donations to demcorats are down, you are still getting this sort of tacit recommendation from those that scored big because of demcorat’s largesse with tax payer money. Remember that the next time muirgeo1 spouts how evil republicans and corporations rule the world and make it an unjust place for the middle class.

Posted by AlexinCT on 10/26/10 at 08:00 AM in Elections   Election 2010   Politics   Law, & Economics  • (0) TrackbacksPermalink
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