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Financial regulations must stay
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From LaVern Isely, Monroe

To the editor:

President Obama won his second term as president and it was a real mandate both times. Nothing like George W. Bush - when he won for the first time, he said he had a mandate. Problem was though, they were going to have to wait to see which way the state of Florida was going to go and it took quite a while. If candidate Al Gore would have called for a recount of the whole state of Florida, he would have won but the Republicans got their way and had their man in office. He took over with the biggest surplus in the history of our country and left office with the biggest debt.

At leastways though, he still had Rush Limbaugh on his side. Republicans just hate to pay individual income taxes. A long tradition in the Republican Party. Like Rush said, "Let Sam Donaldson pay my share since he likes paying income taxes." Well, Speaker John Boehner still has the same battle cry, "We're not going to raise the income taxes on the wealthy even though we've lost seven seats to the Democrats." Those pesky Democrats, who keep on representing the 99 percent and most of them didn't even sign the Grover Norquist pledge.

Well, Tammy Baldwin, who is replacing Sen. Herb Kohl, kept reminding Republican Tommy Thompson that he signed the Grover Norquist pledge and it was something pretty simple to understand. Those rich Republicans, who don't believe in taxing on ability to pay, who would rather create jobs abroad than create jobs in this country like Bain Capital did.

Politicians around the world are saying we need more austerity, morecorrupt bankers getting bailed out but if we get the unemployment high enough, those working people will have to work for nothing or else starve. Problem is, a lot of those working people do important work and they know the importance of a good banking system that's well regulated.

In order to get this mess straightened out, we can't do what the Republicans want to do by getting rid of all regulations and let free enterprise work because a lot of people have read the history of the failing George W. Bush administration after he left office. It all starts with an honest investment banking system which we still don't have worldwide. We must strengthen Dodd-Frank more like Glass-Steagall.