Marco Rubio on CBS: “Where’s the President’s Plan?… I’ve Seen Press Conferences… Where’s the Plan?” (Video)

There is no plan, Marco.
You know it. We know it.

Senator Marco Rubio (R-FL) destroyed Bob Schieffer on Face the Nation this morning. Schieffer tried to defend President Obama for the current catastrophe. Marco wouldn’t buy it.

OK, so where’s the plan? Where’s the president’s plan? I’ve never seen a piece of paper with the president’s name on it that’s his plan to solve this crisis. I’ve seen press conferences. I’ve seen lectures that he’s given to the Congress. I’ve seen these press avails where the camera comes in and takes a bunch of pictures. I haven’t seen a plan. Where is the president’s plan?

Marco was just too much for Obama-apologist Bob Schieffer.

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  • Mark

    Obama is going to get right on the economic depression and unemployment right away. First he has to raise taxes….PHHHHHTTT!

  • Guy in Ohio

    Oh, there’s a plan … trust me. He’s not going to discuss it with us though. Does the farmer discuss HIS plan with his cattle as he leads them to the slaughterhouse?

  • No Man

    Racist!

    We has to pass the plan so’s we knows whatz in itt.

  • SandyfromChesterfield

    I would love to see Marco Rubio debate the great speaker a…a…a…obama.

  • Pingback: Marco Rubio Tells It Like It Is | Daniel McAndrew()

  • Multitude

    I’ll take a stab at an answer: Voting Present!

  • Militant Conservative

    The plan is to bankrupt America and make it into a socialist nation.

    GEE, that is probably not something you want to let get out to the MSM.

    President has less than a year left. I do not think he’ll make it to the elections.

    Read prophecies of Daniel. I trust in GOD, not man.

    powder is dry

  • MA

    You have to wait until the bill passes before the dims will let you see what’s in it.

  • Auntie Em

    Would be nice to see President MasterD’bator debate his debt plan with Marco Rubio, or Paul Ryan, or Eric Cantor…or Sarah Palin. Would pay money to see him in an argument with Alan West. Prez MasterD’bator would need to pack both a lunch and a diaper bag of Depends and wipes. We’d have to lock the doors to keep the crybaby in the debate, I’m afraid.

    He doesn’t want to debate real people. He is scared to death of real debate. He is all smoke and no cigar. He doesn’t have a plan. His TOTUS has the plan and he isn’t talking until Obama is better trained.

  • Nick Shaw

    Game, set and match! Very well done Mr. Rubio! Schieffer stuck with the Dim talking point of raising taxes and you destroyed him!

  • patman

    Old man smoldering… Slow burn.

  • Gideon Reed

    Senator Marco Rubio, Republican of Florida, is the “real deal”.
    The United States is fortunate to have someone of his calibre
    guarding our interests.
    A wonder future candidate for the Presidency at a future moment
    in America’s story.
    If, IF, ZerObama does not destroy us first.

  • Gimme a Break

    Schieffer is not as sharp as he used to be. And he wasn’t very sharp to begin with.

  • http://heresysubject.com Josh

    It’s there Marco. It’s called Cloward and Piven. You overwhelm the system with demands that it simply cannot meet until you collapse it. Then you come in and offer your solution to remold it the way you want. You get to ‘change’ the nation to what you want it to be.

    He has a plan that he has been carrying out the whole time. Expand the size of govt. and its welfare programs, print its currency into oblivion while giving easy money to his ‘base,’ and by lecturing to the population. It is all going the way he wants it to Marco. This is all part of getting America to go quietly into the New World Order.

  • http://www.southernwolf.net S. Wolf

    The plan is to bankrupt the United States, the only plan needed for that is to borrow and spend trillions of dollars without restraint. Eventually the interest will be so high not even the U.S. can pay it let alone the principal.

  • dnb

    Where is the RNC? Hit the airwaves with the “Where’s the Plan, Mr. President?” in the manner of the old “Where’s the beef” commercial. Use humor whenever and wherever we can as the democrats are devoid of it. It will be an inside joke which drives them nuts (much as religion and guns do). Time to laugh them out of town.

  • theBuckWheat

    We have lived way beyond our means for many decades. There are only so many jelly beans in the jar and the more people who can live with that fact, the faster we can get our financial house in order.

    The left (er, now “progressives”) love to scold the rest of us about “sustainability”, yet it is the left that advocates and supports financial policies that are totally unsustainable.

  • StrangernFiction

    “and [job creators] are looking for some regulatory reform as well”

    Well I certainly hope so. It took nine minutes to get there, but I guess that is better than most R’s can do.

  • dunce

    The truth, they can not handle the truth. It is like sunshine to vampires.

  • mike191

    Paging Bob Schieffer: When you were a small lad,you must have read,The Emperor has no Clothes.I would suggest that you should read this childrens, book.Given the lack of any introspection on your part ,perhaps a small crack in “journalistic honesty” might enter your media whoring being.

  • Redwine

    Rubio is wonderfully sharp and his responses were straight to the point, without any wobbling around or diverging from the issue. Schieffer tried over and over to sandbag him with all the lib talking points to no avail. Rubio is an articulate and passionate advocate of the Conservative cause. More power to him.

  • martin j smith

    Rubio is on the right track. But Repub leaders have to push it forward and that means ending this one way street communications of offers where Obama just bats back anything he doesn’t like and takes no responsibility. Repubs should offer a conditional short term plan to increase the debt ceiling with conditions such as dollar for dollar budget cuts for example. Then let Obama reject it and offer his own plan in writing. Once this is done ( if ever ) it will be very easy to show American voters that Obama is not a real American President–he is European Socialist period.

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  • Sickofobama

    Marco, along with Allen West and Jim DeMint, are always saying what needs to be said.

    They won’t fall into the libtards’ traps set for them by Obama on “his” shows.

    Marco should be leading the GOP as Minority Leader.

    Turtlehead should retire to an old folks home.

  • Fubarry

    martin,

    Unmasking Il Douche is not that difficult a thing to do. The pubbies, as a whole, just aren’t interested in doing so.

  • Scott

    Ladies and gentlemen, we have found the Ronald Reagan of our generation. His name is Marco Rubio.

  • Spider

    Is Sheffer on the WH payroll? This was embarrassing. What about, whattabout, whattttabout Booooosh….. he says.

    Is this what we are stuck with for getting accurate information, and a fair debate?

    Marco left this guy a stuttering fool.

    Could you imagine if the media was unbiased? We might make some headway in this country.

  • red

    Wow, Scheiffer really did his job for his “D” team! Way to go Bob. Rubio is great, so understandable. Wish we had 20 of hime.

  • Fionnagh

    #26, agree. However, see #12. We need to actually have a country left in order to have a President Rubio. I may be too old to see either one happen. Sigh…

  • Auntie Em

    I want them to do something about it. We’ve had enough “talk” to the cameras, but what we should demand is action. IF they really care about the direction, they have the power to change it. And if they are no longer acting in the interests of We the People, then we have to ACT. We need our military here. We need them to come protect us from this tyrannical government instead of doing that in countries that don’t pay them OR even like them. We may need their protection here.

    Someone out there, and it will probably will be a deranged liberal that OD’d on the Obama Kool-Aid, is going to put a bullet in the head of Obama and Republicans will be blamed for it. I have a weird feeling this is going to happen soon.

  • lol

    schiefer tried to get the gotcha moment from rubio and failed. love it when the lapdog mainstream media talking points get ripped to shreds by facts.

  • Robert

    I notice there was not much talk about reducing the size and scope of government, reducing or eliminating governmental agencies, cutting waste, fraud, and abuse, or simply spending less in the sprawling governmental bureaucracy.

    This is where the Republicans could gain ground in the discussion, by advocating a flood of ideas for cutting governmental spending and reducing the bureaucracy. They just don’t seem to want to do that, they are playing a poker game behind closed doors, while the Democrats have the media blaring their talking points and partisan rhetoric.

  • succotash

    O/T I see “The Wons” went to an Episcopal church today. Trying to raise the falling poll numbers? Mooselle is leaving for Germany tonight,don’t know why except to upstage the U.S. womens soccer team.Any reason to spend another few hundred thousand by jetting off somewhere on a whim!

  • Pundit Fan

    Marco Rubio, a future 8 year president of the White House … one day down the road.

  • regularguy

    You would have to go back to Reagan, really, to find a president who is spearheading an agenda and personally introducing legislation to implement it. There has been NO budget to speak of under the leadership of the dems, and for a real reason: to kick the can down the road because the spending regime is so completely out of control. This president has not a single idea that’s reality-based to create a budget and which is not Marxist in nature. He’s utterly unfit to be in the mail room of a small business, let alone be president. He’s a disgrace to anyone who would attempt to be an honorable community developer, let alone anyone with any sense of how to solve problems.

  • bg
  • http://lgfonevolution.blogspot.com Mats

    Marco has the spirit of Ronald Reagan upon him. TWICE fold!

  • bg

    ++

    mini-flasback re: #36

    WaPo Buries 97-0 Rejection of Obama Budget

    [The president’s budget called for ending tax cuts for the wealthy and a three-year domestic spending freeze, saving an estimated $1.1 trillion over 10 years. Democratic senators at the time called it “an important step forward”, “a good start” and a “credible blueprint.”

    No Democratic senator was willing to support it, however, after Obama discussed a more ambitious plan at George Washington University to save $4 trillion over 12 years. Republicans criticized his speech for lacking detail.

    So Democrats have no budget blueprint to work off of for fiscal year
    2012
    , just a speech President Obama made that laid out some broad
    policy goals but has no specifics.

    Yet to the Washington Post, the real story as how the “GOP sticks to
    Medicare proposal” even though “Unease remains after House defeat
    in N.Y.”]

    ==

  • stopthemorons

    Bobby, Bobby, what are you thinking? Everyone says that you are “old-school” and that you are a “newsman”. You know Bobby, presenting the facts, nothing but the facts and leaving your opinions, no matter what they are, at the front door, not slanting the news right or left. As I see it, we do not have but a few newspersons left in the world of “news”. Bobby say it ain’t so,”I’m not another kool-aid drinker and I’m not under his spell”. However Bobby, your actions speak lounder than your words. We are thankful though that you’re not another Maher, Schultz, Blitzer, Oberman and some of the others that believe BHO knows no wrong. We are thankful for small miracles.

  • AuntieMadder

    #30 Robert commented:

    “I notice there was not much talk about reducing the size and scope of government, reducing or eliminating governmental agencies, cutting waste, fraud, and abuse, or simply spending less in the sprawling governmental bureaucracy.

    This is where the Republicans could gain ground in the discussion, by advocating a flood of ideas for cutting governmental spending and reducing the bureaucracy. They just don’t seem to want to do that, they are playing a poker game behind closed doors, while the Democrats have the media blaring their talking points and partisan rhetoric.”

    You are so right about this. Republicans need to toss some spending cuts ideas out there, if for no other reason than to prove that the choices aren’t limited to raising the debt ceiling or eliminated Medicare.

  • Molon Labe

    Anyone who believes that Obama will do anything to cut anything other than defense and security is living in Sheila Jackson Lee land.

    We are facing what the WEIMAR REPUBLIC FACED-SUPER INFLATION. The game plan of all bankrupt politicians. Just look what happened to Argentina in 2000. The American people will be impovriched, but worse than that, there will be a reset, just as there was in Weimar. Do you believe any of the politicians or elites realized that they’d wind up with Hitler and the National Socialists?

    What we may get in the US is anyone’s guess, but I’m betting on a 2nd civil war, far worse than the first.

  • lizzy84

    The collapse has already begun:

    http://www.youtube.com/watch?v=VlRywrCslnk

  • Neo

    Hey, but Dick Durbin told us today that Obama spent 12 hours of his time in meetings to avert a national default.
    Gee whiz, that must have cut into his golf time.

  • http://www.starlancs.com Ward Dorrity

    No nation ever taxed itself into prosperity. In fact, history tells a rather different tale.

  • song of the south

    #42-were those people really that desperate for housing or just desperate for another hand-out?

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  • http://www.southernwolf.net S. Wolf

    Molon Labe #41

    re:’Anyone who believes that Obama will do anything to cut anything other than defense and security’.. is a fool.

    Barack Obama – Yes I Can Make Us Defenseless—Just Like Dec 7, 1941

    http://www.youtube.com/watch?v=kRGru2CPC4E&feature=player_embedded

  • Neo

    They said if I voted for John McCain that there would be even more wiretapping, and they were right.

  • lizzy84

    @song of the south/#45..

    The very reason we are where we are in this country is that people are more concerned with their own union/welfare nation” free stuff” than they are with their own enslavement and political props from both parties have been feeding this farce for the past 15-20 years.

  • Bobbi

    Gideon Reed, I voted for Senator Rubio. However, he is not a “natural born citizen” as neither of his parents had even applied for citizenship before he was born. In fact, they applied in 1975, four years after he was born.
    Minor v. Haperett (1875) established the supreme Court definition of natural born citizen
    http://naturalborncitizen.wordpress.com/2011/06/21/us-supreme-court-precedent-states-that-obama-is-not-eligible-to-be-president/

  • Bobbi
  • Neo

    Obama told reporters on Friday. Now, “It’s a matter of Congress doing the right thing .. because I’m too much of an idiot to get anything right.”

    OK. I added that last part … but it’s true.

  • http://www.robbingamerica.com John Galt

    Rubio is right, where is the plan?
    Republicans need to stop playing this “behind doors” game that only benefits Obama.
    He calls his daily press conferences and attacks Republicans with no way to contradict him because of the secrtecy of the talks.

    They should also stop breaking the law. This is a take from the piece “Debt Ceiling Negotiations Are Unlawful” which says as much and proves it – correctly – by citing the present Law of the Land of the “Congressional Budget and Impoundment Control Act” of 1974. It is too long to cite it here, even in its shorten form as this piece does.

    You can check it out at http://robbingamerica.blogspot.com/2011/07/debt-ceiling-negotiations-are-unlawful.html

    Compromising the rule of law is not something that the Republicans should be a part of.

  • Big Dawg

    Schieffer tried to wag the tail on the Dawg in Obowwow’s favor but Marco was having
    none of that….Marco is right two and a half years is long enough for any President to
    show he has things under control, yet this man has done nothing to help the economy
    or jobs and it gets worse each day and it falls right in the hands of the Clueless Wonder
    and he and the liberals are scared sh*tless as they see the ratings slide into the gutter…

    It’s beginning to get the time that no matter how much the Obama lapdogs in the media
    and press try to spin and cover for this moron they lose all credibility and soon they can’t come up with enough lies or falsehoods to make this clown look other than rediculous…..

    I don’t think this moron will make it to the next election, he is to stupid and has no idea how to fix jobs or the economy……

    Palin / Rubio or Palin / West 2012

  • Wilson

    Your “Obama apologist” Bob Schieffer seems to me to be asking intelligent questions and allowing plenty of time for thoughtful, extended responses.

    What Schieffer didn’t ask Rubio is whether or not republicans have a plan for dealing with the disastrous economic consequences that could follow immediately on the heels of a default. How do they plan on reviving the markets, if they bring on another crash like we saw in 2008? How do they plan on controlling interest rates, if they suddenly take off like a rocket? They’re sure as h-ll not going to be able to stabilize a crashing economy with stimulus spending again.

    Obama’s policies bought us our one second chance. If the republicans scuttle it we’re probably not going to get another. Nobody will turn a cascading collapse of the U.S. economy around a second time. Instead of a recession, we’ll have a generations-long depression.

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  • Contessa61

    Wow. This is the first interview of a Republican on a liberal station where the interviewer actually kept his mouth shut and didn’t interrupt a hundred times.

  • gopgopgop

    Marco Rubio is a STUD! I hope who ever wins the Republican primary will pick Marco as their V.P. Not only is Marco Intelligent but he is the full package! He can get Hispanic votes away from Obama and he can bring Florida to the Republicans! Like what “Rush” said… The Democrats FEAR Marco Rubio! And there is a reason why…

  • Evil Otto

    Obama’s policies bought us our one second chance.

    Is that grape or cherry Kool-Aid you’re drinking?

  • Gary

    dnb
    You’re exactly right.
    Liberals always try to ridicule conservative ideals, but they absolutely cannot stand being ridiculed either personally or ideologically. Obama is a shining example.
    He has actually “corrected” the very tame swipes taken at him by SNL and Leno in his press conferences.
    When somebody really stings him in a comment or question face to face, all we see is that brilliant response, “ah…. its not true”.
    Wow.

    Keep laughing at them. None of them can take it.

  • noah

    I have to say, I was very surprised that ABC let Rubio speak uninterrupted for as long as they did, while he told the truth about Obama, and the horrid polices he along with his crooked administration has subjected American’s too.

    Of course they had to blame Bush, to prop up Obama.
    I’m so sick of hearing Bushes fault, when we all know it was the Democrat’s who run the economy into the ground, while they were in-charge the last few years of Bushes Presidency.
    They destroyed the economy on purpose, to get Obama into office, and to start establishing this “One World Order” crap.

  • Joe Bean

    Correct. There is no plan from the Democrats who have not even presented a budget for the last two years. Now they want to posture as if they care about the debt. The Repblicans should be making this fact known to the public who often does not pay attention to these important details.

  • averagemelon

    Marco is serious.

    Thank God. Yes, You answer our prayers.

    The Democrats are so much nonsense. Americans have figured it out. There will always be the foolish “me-me-me-what-about-me” groups but the rest of us know what to do and how to get there from here. If the Democrats cared AT ALL, they would have at least TRIED to make a budget. THEY DON’T CARE and Americans have gotten disgusted with them. The Progressives have reached the end of the line. The Conservatives will make this country great again as soon as we pitch them out by vote or by force.

  • Westie

    Almost felt a tinge of pity for the bumbling apparatchik Bob Schieffer but then I remember the mendacity of this tool as a “Debate Moderator” which makes his troubles but sweet tears!

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  • http://none Bill England

    These young conservatives are our answer retirees. Keep them in your prayers and vote them into the maximum office. We are the people.!!!

  • Colton

    Marco Rubio gives me the chills. “He’s the future”.

  • Tom

    Well said, Mr. Rubio. Unlike throwing out the race card as Ms. Sheila Jackson Lee proported, this is about doing what every American Family has to do when they over spend. They have to balance their budget by planning how they will bring themselves out of debt. This is not about race it is about doing the right thing. When you over spend in your own household, you reduce spending and find new ways to increase your revenues. That is what our government needs to do. I agree with Marco’s coments about reforming the Tax laws too. We need an leader like Marco Rubio to run our country. Not a ‘Politician” who is more interested in who is winning a championship or playing golf…

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  • http://aol Brigitte Green

    Hello to everyone!!

    This is now surprise and the job market sucks!! What are our children going to do!!!
    I suggest learn Chinese!!
    Arabic and I guess work for the government!! The give themselves raises every year!!

    Obama who??? He has no plan!!

  • http://html Shirley

    Charles Koch #1 boy Rubio were off track. the Republican ran on jobs creation in 2010 and won the House back, no jobs created yet by the Republicans’, they are still asking President Obama where are the jobs.

    House Republicans roll out jobs plan
    By ROBERT SCHROEDER Posted 03:13 PM ET
    WASHINGTON (MarketWatch) — House Republicans on Thursday rolled out what they
    called a “pro-growth jobs plan” aimed at boosting the nation’s economy without
    raising taxes.

    Republican leaders say their plan is designed to increase investment and
    innovation to create jobs, as well as tackle the U.S. debt through spending
    cuts.

    The Republicans’ plan includes setting a 25% top tax rate on corporations and
    individuals, compared to the current 35%, as well as new limits on government
    regulations and incentives to encourage more domestic energy production.

    Leaders didn’t say how many jobs the plan would create. Democrats assailed the
    Republicans’ proposals, with Rep. Nancy Pelosi calling them “warmed-over stew”
    and likening them to Bush-era policies that didn’t create jobs.

    The Republican plan relies largely on spending cuts and tax reduction to boost
    job growth, in a move the party says will empower small businesses and
    entrepreneurs to invest and hire. It’s in sharp contrast to plans from
    Democrats, including President Barack Obama’s stimulus package, which aimed to
    put people back to work in construction and other industries.

    “We’ll never balance our budget and rid our children of debt until we cut
    spending and have real economic growth,” House Speaker John Boehner said
    Thursday.

    Republican leaders unveiled their plan after Labor Department data showed that
    for a seventh straight week, first-time claims for jobless benefits stayed above
    the 400,000 mark — a level typically associated with modest to below-average
    hiring trends. Read MarketWatch story about weekly jobless claims.
    SpeakerBoehner/FlickrHouse Speaker John Boehner (R., Ohio) in an April file
    photo.

    The plan arrives as deficit-reduction talks between the White House and
    congressional Republicans and Democrats are set to start back up. Treasury
    Secretary Tim Geithner said earlier this week that a budget deal with cuts of
    more than $1 trillion over 10 years would be realistic.

    The talks are due to resume on Capitol Hill Thursday afternoon.
    The Republicans’ plan also comes two days after voters in a district in upstate
    New York handed the party a defeat in a special election that revolved largely
    around a GOP-backed budget proposal to dramatically change Medicare, the
    health-care program for seniors.

    The agenda contains some of the same items as the GOP budget approved last month
    by the House. On Wednesday night, the Senate rejected that budget in a vote
    designed to put Republicans on record as supporting the document’s controversial
    Medicare plan. Five Republicans broke party ranks and voted against the House
    budget.

  • http://html Shirley

    Marco Rubio doesn’t know what caused the economy crisis or the Housing crisis.
    Before you blame some get your facts correct. Some People don’t read any more.

    $5 BILLION IN POLITICAL CONTRIBUTIONS BOUGHT WALL STREET FREEDOM FROM
    REGULATION, RESTRAINT, REPORT FINDS
    Steps to Financial Cataclysm Paved with Industry Dollars
    March 4 – The financial sector invested more than $5 billion in political
    influence purchasing in Washington over the past decade, with as many as 3,000
    lobbyists winning deregulation and other policy decisions that led directly to
    the current financial collapse, according to a 231-page report issued today by
    Essential Information and the Consumer Education Foundation.
    The report, “Sold Out: How Wall Street and Washington Betrayed America,” shows
    that, from 1998-2008, Wall Street investment firms, commercial banks, hedge
    funds, real estate companies and insurance conglomerates made $1.725 billion in
    political contributions and spent another $3.4 billion on lobbyists, a financial
    juggernaut aimed at undercutting federal regulation. Nearly 3,000 officially
    registered federal lobbyists worked for the industry in 2007 alone. The report
    documents a dozen distinct deregulatory moves that, together, led to the
    financial meltdown. These include prohibitions on regulating financial
    derivatives; the repeal of regulatory barriers between commercial banks and
    investment banks; a voluntary regulation scheme for big investment banks; and
    federal refusal to act to stop predatory subprime lending.
    “The report details, step-by-step, how Washington systematically sold out to
    Wall Street,” says Harvey Rosenfield, president of the Consumer Education
    Foundation, a California-based non-profit organization. “Depression-era programs
    that would have prevented the financial meltdown that began last year were
    dismantled, and the warnings of those who foresaw disaster were drowned in an
    ocean of political money. Americans were betrayed, and we are paying a high
    price — trillions of dollars — for that betrayal.”
    “Congress and the Executive Branch,” says Robert Weissman of Essential
    Information and the lead author of the report, “responded to the legal bribes
    from the financial sector, rolling back common-sense standards, barring honest
    regulators from issuing rules to address emerging problems and trashing
    enforcement efforts. The progressive erosion of regulatory restraining walls led
    to a flood of bad loans, and a tsunami of bad bets based on those bad loans.
    Now, there is wreckage across the financial landscape.”
    12 Key Policy Decisions Led to Cataclysm
    Financial deregulation led directly to the current economic meltdown. For the
    last three decades, government regulators, Congress and the executive branch, on
    a bipartisan basis, steadily eroded the regulatory system that restrained the
    financial sector from acting on its own worst tendencies. “Sold Out” details a
    dozen key steps to financial meltdown, revealing how industry pressure led to
    these deregulatory moves and their consequences:
    1. 1. In 1999, Congress repealed the Glass-Steagall Act, which had prohibited
    the merger of commercial banking and investment banking.
    2. Regulatory rules permitted off-balance sheet accounting — tricks that
    enabled banks to hide their liabilities.
    3. The Clinton administration blocked the Commodity Futures Trading Commission
    from regulating financial derivatives — which became the basis for massive
    speculation.
    4. Congress in 2000 prohibited regulation of financial derivatives when it
    passed the Commodity Futures Modernization Act.
    5. The Securities and Exchange Commission in 2004 adopted a voluntary
    regulation scheme for investment banks that enabled them to incur much higher
    levels of debt.
    6. Rules adopted by global regulators at the behest of the financial industry
    would enable commercial banks to determine their own capital reserve
    requirements, based on their internal “risk-assessment models.”
    7. Federal regulators refused to block widespread predatory lending practices
    earlier in this decade, failing to either issue appropriate regulations or even
    enforce existing ones.
    8. Federal bank regulators claimed the power to supersede state consumer
    protection laws that could have diminished predatory lending and other abusive
    practices.
    9. Federal rules prevent victims of abusive loans from suing firms that bought
    their loans from the banks that issued the original loan.
    10. Fannie Mae and Freddie Mac expanded beyond their traditional scope of
    business and entered the subprime market, ultimately costing taxpayers hundreds
    of billions of dollars.
    11. The abandonment of antitrust and related regulatory principles enabled the
    creation of too-big-to-fail megabanks, which engaged in much riskier practices
    than smaller banks.
    12. Beset by conflicts of interest, private credit rating companies incorrectly
    assessed the quality of mortgage-backed securities; a 2006 law handcuffed the
    SEC from properly regulating the firms.
    Financial Sector Political Money and 3000 Lobbyists Dictated Washington Policy
    During the period 1998-2008:
    * Commercial banks spent more than $154 million on campaign contributions,
    while investing $363 million in officially registered lobbying:
    * Accounting firms spent $68 million on campaign contributions and $115 million
    on lobbying;
    * Insurance companies donated more than $218 million and spent more than $1.1
    billion on lobbying;
    * Securities firms invested more than $504 million in campaign contributions,
    and an additional $576 million in lobbying. Included in this total: private
    equity firms contributed $56 million to federal candidates and spent $33 million
    on lobbying; and hedge funds spent $32 million on campaign contributions (about
    half in the 2008 election cycle).
    The betrayal was bipartisan: about 55 percent of the political donations went to
    Republicans and 45 percent to Democrats, primarily reflecting the balance of
    power over the decade. Democrats took just more than half of the financial
    sector’s 2008 election cycle contributions.
    The financial sector buttressed its political strength by placing Wall Street
    expatriates in top regulatory positions, including the post of Treasury
    Secretary held by two former Goldman Sachs chairs, Robert Rubin and Henry
    Paulson.
    Financial firms employed a legion of lobbyists, maintaining nearly 3,000
    separate lobbyists in 2007 alone.
    These companies drew heavily from government in choosing their lobbyists.
    Surveying 20 leading financial firms, “Sold Out” finds 142 of the lobbyists they
    employed from 1998-2008 were previously high-ranking officials or employees in
    the Executive Branch or Congress.
    * * *
    Essential Information is a Washington, D.C. nonprofit that seeks to curb
    excessive corporate power. The Consumer Education Foundation is a
    California-based nonprofit that supports measures to prevent losses to
    consumers.

  • http://html Shirley

    The 5 Billion dollar pay-off plus the Firms contracted to Iraq and Afghan., Haliburton, Blackwater, KBR and others took advantage of President Bush, by over charging for reconstruction and misplaced money. Contractors working along our U.S. Solders were paid more than our Solders, but contractors always get paid more.
    A 54 mile road coast $59 million but due to security it end-up coasting $176 Billions. Hailburton made a killing in Afghan.,
    The Taxpayers will be paying for these two Wars for ever, so the next time some wont to why we are in this mess.
    Tell them to search for a Book by Alison Stranger called “One Nation Under Contract”, Outsourcing American Future Foreign Policy”.

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  • William

    Marco talks with substance, unlike the White House whose words mean nothing

  • http://html Shirley

    Marco Rubio was trying to blame President Obama for our Country crisis, sorry, Rubio you got it all wrong. I posted the facts yesterday regarding Jobs creation, and who caused this economy crisis and Housing Bouble.
    Bill O’rielly seem to think that Rubio nailed President Obama, O’rielly doesn’t wont to know what caused the crisis, he just wont to blame the President. because he doesn’t like him because this time the Bush Tax Cuts will not be extended, and he is going to raised tax on e 1% of the Riches folks in the Country and give the moddle class and the poor a brake.

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