i don't think goldman is a political issue. they bribe whoever they need to, be it republican or democrat. it's obvious though that the kind of de-regulation laws that made all these shenanigans possible have been almost exclusively drafted by conservative, pro-business people, fueled by a conservative, pro-business agenda. i guess the only reason for the democrats being the main "benefactor" donations-wise, if you will, is that goldman feels like it's way more necessary to bribe dems. they got the vast majority of the reps in the tank anyways, mostly because they're obedient enough.
no need to splash 3-d glasses on the blind.
Conservatives never "de-regulated" the mortgage market. It was de-regulated from the start until Democrats created Fannie Mae and Freddie Mac and enacted affirmative-action lending laws, each of which funneled loans to people who couldn't pay them off. The Federal Reserve--a government institution--just added fuel to the fire by setting interest rates artificially low. The mortgage market worked fine until government interference distorted it. What you're essentially arguing for is to have the government interfere with the market in an attempt to blunt the negative consequences of its previous interferences. Why not just completely roll back the legislation that caused the distortion in the first place?
As for the bolded part above, this is completely incorrect. It's Republicans who are the main obstacle to legislation that the big banks have endorsed
. In the Senate hearings last week Lloyd Blankflein, CEO of Goldman Sachs, was asked point-blank what he thought of the pending legislation. He endorsed it. On a conference call last week he discussed the reform bill and said this: "We will be among the biggest beneficiaries of financial reform".
Awesome. Don't kid yourself, this bill was written by the big banks for the big banks, via primarily Democrats, who need all the money they can get after the health-care disaster. The big banks like it because it entrenches a bailout system (small banks aren't eligible since they're not "too big to fail"). For the big guys, profits are permanently privatized, losses permanently socialized. They'll never face any serious competition from some uppity small bank. The Federal Reserve, which was created by the big bankers (including JP Morgan himself) a century ago, has given big banks an advantage for decades since smaller banks don't have access to the discount window and the cheap cash that comes with it. Sure, the legislators will throw in some seemingly tough regulations or some new government agency, but the big banks can get around it because the new bureaucrat will be one of them. Big business by itself isn't the problem. Big business controlling the government is the problem. This bill just makes that worse.
And yes, Republicans have been just as guilty with this type of stuff. Not this time, though. Both parties truly do suck.