That's the sound coming from Barclays in the UK who are writing down $2.7 billion of bad business. Every day, more bad news from Big Finance and as much as they say "this is it" they have no idea. The numbers continue to change and probably will continue to bounce around for a while. A bit of oversight and regulation could have limited the pain but for some reason, oversight is viewed as a bad thing with Republicans who would have none of it.
While we're at it, a quick overview of failed GOP policies. Keep it handy as we move into the election year.
- Afghanistan: early success has turned into dangerous environmentThe list can go on and on and on. Have a go at it. Democrats in Washington need to step back and see what the rest of us see and take action. The Bush and GOP record is a train wreck so why the wimpy attitude?
- Iraq: black hole of spending, thousands dead, no plan for future
- Economy: Failure to provide oversight crushing US and world economy
- Weak Dollar: More expensive goods, higher gas prices, inflation concerns
- Human Rights: Remember when we used to believe in them?
- Katrina: Let them eat cake
- Taxes: Middle class treated as bank for excessive spending, handouts to rich and corporate America
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