Dear America
Posted by David Darlington on 30 September 2008 | 9 responses
The government is on its way.
9 Responses to “Dear America”
If this counter-productive idiot and his sidekick Paulson don’t shut the eff up about the imminent collapse of the global economy if Congress doesn’t pass their awful bailout plan five minutes ago, it WILL turn out to be a self fulfilling prophecy, unlike WMD in Iraq.
The responsible way to go about getting his piece of crap to pass without further roiling the markets would be consider quietly talking to GOP House leadership. Pelosi and her crew lived up to their part of the bargain yesterday.
Looks like the Democrats were right.
Democrats fear this morning that McCain is setting up a scenario in which he will vote against the (bailout) bill, rally conservatives to his side and, most importantly, distance himself from both President Bush and Congress before the election.
Way to go RNC. In my fondest hopes, the Dems repay that piece of slime with a bailout plan that’s good for the country (maybe modeled on the Swedish Plan), and that ONLY a Dem could love and then jam it down the throats of these crudballs. No wonder this GOP has even lost David Brooks.
Viva Adams! The nation’s affairs constitute farce even the great man’s creativity could not have imagined.
“If things do not totally tank right now, Paulson and Co. truly have zero credibility — for better or worse — the next time they claim that some particular policy action has to be done.” – Tyler Cowen
House leaders are planning to take up the reworked $700 billion Senate rescue bill on Friday and it will pass. Here’s why.
That means our economy will not likely implode at least until the new year, but then the real financial rescue will have to start. The whole world will be watching this election, probably breathlessly and with fingers and toes crossed. That this will be a critical election is now a ridiculous understatement.
Jerry, your last statement implies that the world believes there is a difference between Obama and McCain in their approach to fixing the current problems on Wall Street. However, I haven’t seen any substantive difference in their responses to the problem.
Eric,
You’ve gotta be kidding me.
One guy basically stuck to his campaign and let Congress and the White House hammer a deal out while trying to more or less keep presidential politics out of it while the other guy “suspends” his campaign, tries to call off a debate (actually two — the VP debate would have been impacted too), demands a meeting in the middle of bi-partisan negotiations where he refuses to speak but appears to back an outta-the-blue crackpot scheme that GOP negotiators didn’t even know about…Nope. No difference in their responses at all!
What “crackpot scheme” did McCain promote? Granted, things have been very busy for me this week at work, so I haven’t been able to keep up with every development, but what I’ve seen is that from the start McCain and Obama both endorsed an immediate government intervention in the market. Both voted for the Senate bill last night (so much for the theory that McCain would vote against it to “rally conservatives to his side and…distance himself from both President Bush and Congress”).
So, if Obama’s response was different from McCain’s in substance and not just in style and posturing, I’d like to hear how.
Eric
McCain’s antics went beyond style and posturing. He decided at the last minute to inject himself into bi-partisan negotiations at the last minute, and then once the process was disrupted, he refused to say what kind of bailout package he’d support.
The crackpot scheme was a counter-proposal to the bi-partisan bailout plan offered up out of the blue by the House Republican Study Committee. Basically, it called for a suspension of the capital gains tax so corporations would be able to unload their funky assets. I was crackpot because those funky mortgage securities are worth less now than when they were first purchased, so capital gains tax wouldn’t be owed on them.
The Senate compromise bailout plan that all Congress creatures will and have had to hold their noses to vote yes on will only help our economy limp into the new year. It is only the beginning of many further efforts to fix our economic mess. That’s why the election is so critical. I don’t have to tell you what the choices are: between a supply sider and a guy who wants to use the levers of government to help the economy recover.