Wednesday, October 19, 2011

Herman Cain Blames Unemployed, GOP Crowd Cheers

Again I ask, does something ugly have to happen at every Republican presidential debate? We've seen the cheering of the 234 executions under Rick Perry; the assent to the notion that an uninsured individual should be left to die; the booing of a gay soldier serving in Iraq. In the latest episode, Herman Cain was asked if he stands by his statement that if one is unemployed, "Don't blame Wall Street. Don't blame the big banks. If you don't have a job and you're not rich, blame yourself." Watch Cain stand by this statement, to the delight of the crowd:

Cain: I still stand by my statement. They might be frustrated with Wall Street and the bankers, but they're directing their anger at the wrong place. Wall Street didn't put in failed economic policies. Wall Street didn't spend a trillion dollars that didn't do any good. Wall Street isn't going around the country trying to sell another $450 billion. They ought to be over in front of the White House taking out their frustration. (h/t: Huffington Post)

Cain stands by a statement that, with an unemployment rate of 9.1 percent, does not take into account economic circumstances beyond many people's control. In addition, Wall Street's embrace of deregulation directly led to the financial meltdown–a deregulation that it wants to continue. Finally, Wall Street's bailout didn't cost billions, it cost trillions. No one was jailed in the financial community for their chicanery–instead, after being bailed out by the middle class, the financial community enjoyed $20.8 billion in bonuses in 2010.

Herman Cain and the GOP crowd, however, feel that anger at Wall Street is misplaced. The unemployed are to blame.

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