Candidate Romney’s tough foreign policy talk sounds very similar to the Bush-43 administration Neo Cons that lead America into the wars in Iraq and Afghanistan. These Neo Con policies drove defense spending from about $400 billion too $700 billion during eight years of the Bush-43 administration.
To clarify, many business regulations were either eliminated, or not enforced during the administrations of: Reagan, Bush-41, and Bush-43. Deregulation clearly helps business increase profits! However, there have been economic consequence associated with GOP deregulation mania, here are twelve examples:
- U.S. Savings and Loan Banks Collapsed,
- Enron, Country Wide, Tyco, Adelphia, Perguine Systems, World Com, and Leman Bros frauds, etc. These large unregulated corporations robbed investors of Billions!
- Bogus Corporate financial statements
- Bernie Madoff frauds,
- The sub-prime mortgage housing scam,
- Bogus OTC Derivatives,
- Bogus Credit Default Swaps,
- Junk Bonds, repackaged into Collateral Debt Obligations (CDO’s), known as toxic assets,
- Wall Street Banks collapsed
- $1 trillion in tax payer bailouts of corrupt banks,
- No title mortgage foreclosure frauds,
- $2.5 trillion offshore tax frauds.