KABOOOOOOOOOOOM!!!!!
What's that sound, you ask?
Why, it's 28 years of nearly unfettered Reaganomics crashing and burning. And the funny thing is, the GOP (God Oil Party) has the nerve to talk about Democrats wanting to socialize medicine. About how THAT would ruin our pristine free market medical system. (Well, free market unless you happen to be a senator or congressman.) But federal involvement somehow is GOOD for financial markets.
Funny......they've spent the last 28 years privatizing profits and socializing risk.
As if the savings and loan debacle of the 1980s wasn't enough (Keating 5, anyone???), now they serve up $1 trillion worth of misery and failure. I'm not advocating that the government NOT intervene. I just wonder when the feds are gonna come pay MY BILLS and not just AIG's.
And where IS George Bush??? He's more scarce than David Duke at an NAACP rally. This week, during one of his 90-second cuckoo clock appearances in the Rose Garden, he said, "Anyone engaging in illegal financial transactions will be caught and PERSECUTED (sic)." Oh sorry....I mean SICK instead of 'sic'. Are we going to make them wear pink triangles while they drive out of town with TRUCKLOADS of taxpayer cash??? How does this man have ANY credibility with the American public? Why should we believe ANYTHING he says? Why should we believe ANYTHING his direct appointees (Henry Paulson and Ben Bernanke) say? Why is the public being held hostage with a gun to its head...blackmailed? Why, as I've heard so many public officials say this week, this is NOT a time for debate or to ask questions, but a time for action? President Bush himself said, "This is a pivotal moment for America's economy. There will be ample opportunity to debate the origins of this problem. Now is the time to solve It."
Mr President, when IS a good time to debate how we got here??? Unfortunately, this is the same bullshit line you propagated, Mr Bush, about the war in Iraq. Let's not talk about how we got here, let's just figure out where we go from here. It's the SAME LIE! Of course you don't want to talk about HOW we got here because that would lead directly to your mendacity and culpability. Oh, but I give you too much credit in assuming you have any control over the economy or your administration. It's your minions who have summarily dismantled the regulatory infrastructure that offered a modicum of protection from economic predators....the hedge funds, the short sellers and the Phil Gramms and John McCains of the world.
I'm certainly no economist, so this week has been pretty frustrating for me. But I DO have a few questions.
I'm sure I'll have more questions as this sorry mess unfolds, but that's just the tip of the proverbial iceberg of things that have been bothering me this past week. I just don't want this whole bailout thing to be rammed down the public's throat without proper debate and consultation. I sure as hell hope that the Democrats in Congress and Barack Obama himself start asking some of these questions. Inquiring minds wanna know.
Why, it's 28 years of nearly unfettered Reaganomics crashing and burning. And the funny thing is, the GOP (God Oil Party) has the nerve to talk about Democrats wanting to socialize medicine. About how THAT would ruin our pristine free market medical system. (Well, free market unless you happen to be a senator or congressman.) But federal involvement somehow is GOOD for financial markets.
Funny......they've spent the last 28 years privatizing profits and socializing risk.
As if the savings and loan debacle of the 1980s wasn't enough (Keating 5, anyone???), now they serve up $1 trillion worth of misery and failure. I'm not advocating that the government NOT intervene. I just wonder when the feds are gonna come pay MY BILLS and not just AIG's.
And where IS George Bush??? He's more scarce than David Duke at an NAACP rally. This week, during one of his 90-second cuckoo clock appearances in the Rose Garden, he said, "Anyone engaging in illegal financial transactions will be caught and PERSECUTED (sic)." Oh sorry....I mean SICK instead of 'sic'. Are we going to make them wear pink triangles while they drive out of town with TRUCKLOADS of taxpayer cash??? How does this man have ANY credibility with the American public? Why should we believe ANYTHING he says? Why should we believe ANYTHING his direct appointees (Henry Paulson and Ben Bernanke) say? Why is the public being held hostage with a gun to its head...blackmailed? Why, as I've heard so many public officials say this week, this is NOT a time for debate or to ask questions, but a time for action? President Bush himself said, "This is a pivotal moment for America's economy. There will be ample opportunity to debate the origins of this problem. Now is the time to solve It."
Mr President, when IS a good time to debate how we got here??? Unfortunately, this is the same bullshit line you propagated, Mr Bush, about the war in Iraq. Let's not talk about how we got here, let's just figure out where we go from here. It's the SAME LIE! Of course you don't want to talk about HOW we got here because that would lead directly to your mendacity and culpability. Oh, but I give you too much credit in assuming you have any control over the economy or your administration. It's your minions who have summarily dismantled the regulatory infrastructure that offered a modicum of protection from economic predators....the hedge funds, the short sellers and the Phil Gramms and John McCains of the world.
I'm certainly no economist, so this week has been pretty frustrating for me. But I DO have a few questions.
- What guarantees do we have that this plan has a reasonable chance of succeeding???
- If AIG is so large and so diversified a company that its failure will collapse the US economy, is there a public interest in keeping companies like this from growing so large???
- How exactly did you come up with the figure $700 billion dollars???
- Why do you insist that Secretary Paulson be the sole arbiter in this plan with NO judicial oversight???
- What is plan B??? You know, if the financial markets DON'T "greet us as liberators"???
- And will the occupation of the financial markets pay for itself just like the invasion of Iraq???
- And when did you first begin to suspect that this was going to be a problem....and why no advance warnings??? As recently as July 20,2008, Secretary Paulson appeared on "Face the Nation" on CBS to declare "policy makers, regulators aare very vigilant" and "we have a very safe and sound banking system in the United States of America."
I'm sure I'll have more questions as this sorry mess unfolds, but that's just the tip of the proverbial iceberg of things that have been bothering me this past week. I just don't want this whole bailout thing to be rammed down the public's throat without proper debate and consultation. I sure as hell hope that the Democrats in Congress and Barack Obama himself start asking some of these questions. Inquiring minds wanna know.