Skip to comments.US Bail-Out Bill Fails
Posted on 09/30/2008 11:05:38 AM PDT by swarthyguy
Twelve Republicans used the excuse of an inflammatory speech by the House Speaker, Congressperson Nancy Pelosi, to vote "no" whereas previously they had indicated a "yes". We heard parts of the speech, and inflammatory it was; though all the facts were correct as to how President Bush had wrecked the US budget over 8 years. But if she sought to blame the mess on President Bush, that would definitely be a no-no: this nonsense started during President Clinton's time, and strange as it may seem, there are Democratic Wall Street people as much as Republican Wall Street people.
The Democrats are acting shocked: obviously the Republicans put their ego ahead of the interests of the American people, they say.
Actually, while its fine for the Democrats to seek political advantage from the fiasco, the Republican representatives ego has little to do with things. The problem with the bailout bill is that it is wildly unpopular with Main Street. US House representatives face election every two years. The twelve Republicans likely had their arms twisted badly by the President, but were uneasy about their constituents, who they face in almost six weeks time. Our reading is they used Ms. Pelosi's speech as an excuse to escape their promises to Mr. Bush and other powerful Republicans.
It is exceedingly stupid of of the government's Big Cheeses to have crafted a bill that offers very little to ordinary folks - Main Street - and everything to Wall Street. Telling the proletariat that you are helping them because without the bill Wall Street's credit markets will shut down and they, the proletariat, will be out of jobs is plain idiotic. What reason do the ordinary folks have to believe the Government bigwigs? Like, no one knew this crisis was coming? People have been screaming about it for a year, and the Treasury and Federal Reserve did fatootie all. Plus, plenty of experts feel this bill is not going to work. Plus putting people to work through government programs generates jobs and injects cash into the economy, which also is a way to meet the crisis.
It just may be a good idea to wait on the bailout, let market forces annihilate the greedy fools who put us in this mess, and then start pumping money into the economy. The rate at which big banks are disappearing or being nationalized in Europe and the US shows that everything was rotten not just in the kingdom of Denmark. but everywhere else.
The Japanese, of course, are sitting very pretty. They sacrificed growth for caution; they have several tons and halves of cash. Our guess is they feel the market has not bottomed. When truly it can fall no farther, we suspects the Japanese and the sovereign wealth funds will come buying.
Anyway, what's so bad if America is owned by foreigners? Surely they wont treat ordinary workers any worse than American capitalists have done. And who knows, maybe they will treat them better.
93 Democrats did too
I guess I was busy in some kind of time warp recently 'cause, when I left, spending bills don't originate with the President. True, he lacked the stones to veto them and RINO's went along with it, but to place all of the blame at his feet kinda misses some of the guilty parties along the way. To the extent that Queen Nancy controls what gets discussed, I'd lay the lion's share of the blame at her ugly feet.
That’s what must have absolutely terrified Nancy et al.
That’s a minor point overall, but Bush certainly has been no shrinking violet when it come to spending, rhetoric nothwithstanding.
I mean, who would’ve imagined that a Republican President and Congress would have spent money in a fashion that made drunken sailors look sober.
But that’s all water under the bridge now.
What capitalists is this guy talking about? I would say the socialists (democrats) have treated the workers very poorly!
What is all this proletariat crap? We’re a classless society, sir. Most of our proles invest in the stock market (however indirectly).
>>Were a classless society, sir
Funny. America has classes, but the salient point is that one can move upwards.
Fine, invest in the market, but there is no god given stipulation that markets always go up or that incompetent management shall be sheltered from the consequences of their decisions.
>>capitalists is this guy talking about
The Chinese, the Japanese, the Gulf Arabs.
If this idiot REALLY wants to see workers treated poorly, he only needs to go to China or Cuba, where socialism rules absolute.
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