"...the federal government adopted a series of far-reaching reforms to shield and empower citizens, safeguarding society’s democratic character. First came the regulation of business and banking to protect consumers, limit the power of individual corporations and prevent anti-competitive practices. The principle underlying measures such as the Sherman Antitrust Act (1890), the Pure Food and Drug Act (1906) and the Glass-Steagall Act (1933) — which insured bank deposits and separated investment from commercial banking — was that government was responsible for protecting society against the shortcomings of a market economy. The profit motive could not always be counted on to serve the public’s welfare." Washpost
I like Newport Rhode Island, a splendid place. I spent my high school years in Maine so I love the lobsters and fried or steamed clams in Newport. I used to enjoy lecturing at the Naval War College there. I especialy enjoy riding around the circular road that lies outside the gates of the "robber baron" "cottages" (as they called them).
It is painfully clear that the right wing of the Republican Party wants to return to a time when the structure of Americn Society created the excess wealth of the business elite that made possible such vulgar displays of money. There were good things about that time. Brtish peers of that era were heavily engaged in "throwing" their sons at thedaughters of the men who owned these "cottages." PBS and the BBC tell us of this phenomenon frequently, but it was actually so. The lineage of such families as the Astors and the Churchills makes that clear. That spectacle would have been fun to watch. There was also a lot of money given to the favorite "hobby horses" of the nouveau riche "aristocracy."
Why not? There was no personal income tax. There was little or no regulation of business conducted in the land. There were no standards on medical drugs or food. Life was good for the ruthless and the strong.
The Republican Right wants to return to that time. This morning the idiot Steven Hayes, from the "Weekly Standard" speaking on FNS distorted the truth beyond recognition by claiming that the Republican Party merely wants to "re-structure" Medicare. Not true, what they have said they want is to change Medicare into a private health insurance program. Anyone who thinks about that, knows that what would result is a significant diminution in the delivery of health care to the elderly.
The Republican Party, is it the party of lincoln? No, it is not any longer. What we are talking about is the party of JP Morgan and Diamond Jim Brady. pl