The Bailout is Back

So what does it take to overcome the opposition of Congressmen who said they opposed the bailout bill as too expensive, too big of a giveaway, and too much of a moral hazard?  Why, more moral hazard (in the form of higher FDIC insured balances), increased spending, and, incredibly, money for alternative energy.  Are these guys a joke or what?  (HT Hit and Run)

By the way, I had a conversation yesterday with a very anti-Bush, anti-Iraq-War Democrat -- the sort that can't get through a five minute conversation without making a Dick Cheney crack.  She was lamenting the failure of the bailout package in the House and excoriating Republicans for being so ignorant and narrow-minded.  My response was:

I find it surprising that you take this administration on faith in its declaration of emergency in the financial sector.   You've lamented for years about the "rush to war" and GWB's scare tactics that pushed, you felt, the nation into a war it should not be fighting, all over threats of WMD's that we could never find.  You lamented Democrats like Hillary Clinton "falling for this" in Congress

But now the mantra is the same - rush, rush, hurry, hurry, fear, fear, emergency, emergency. Another GWB declared crisis in which the country needs to give the administration unlimited power without accountability and, of course, stacks of taxpayer dollars to spend.  A decision that has to be made fast, without time for deliberation.  Another $700 billion commitment.     And here the Democrats go again.  Jeez, these guys may have the majority in Congress but it is sure easy for GWB to push their buttons when he wants to.  Heck, Pelosi is acting practically as the Republican Whip to get GWB's party in line.

This is Iraq without the body bags, and without the personal honor of brave soldiers in the trenches to give the crisis some kind of dignity.

  • NASCAR Wife

    "and excoriating Republicans for being so ignorant and narrow-minded"

    Did you point out to her that the democrats are the majority party in both houses of Congress and could have passed this bill without republican help?

  • Jim Collins

    They could have, but they couldn't take the chance that McCain would get credit for the bailout. Obama screwed up when McCain went back to DC last week. Now that Obama has returned to DC he can take the credit for saving the economy. What a bunch of BS.

  • stan

    What about those of us who think that Iraq has been a significant success? That removing Saddam resulted in our learning of the Libyan nuke program and the removal of same, the elimination of the prospect of Saddam's various WMD plans for the future, the revelation of the vast corruption of the UN and the oil for food scam, the revelation of the traitorous conduct of our supposed allies, the development of a significant ally in the middle east, a significant improvement in the attitudes of the muslim street toward the US, and a very significant diminution within the muslim street in its enthusiasm for terrorism. These are all extremely significant developments that would not have happened without Saddam's removal.

    And no successful attacks on US soil since 9/11 -- a damn good thing.

  • http://that-xmas.livejournal.com/ Xmas

    Stan,

    I can agree with you that removing Saddam was an excellent move. But that's not the point of his post.

    I think Coyote is pointing out that if you don't trust the means that Bush used to justify the invasion of Iraq, how can you trust what Bush is saying now? It's...cognitive dissonance to hold "Bush Lied, People Died" in your head and "Bush says this is a financial crisis, they must pass this bill."

    It's even more historically blind to believe that since the House and Senate Democrats are behind this bail-out bill, then Bush isn't lying this time. The Iraq war resolution was supported by Hillary Clinton and many other Democrats. They came to regret that vote years later, but at that moment of panic they ran with the rest of the lemmings.

  • Methinks

    Anyone actually read the new plan? Besides the items Coyote mentioned, there is so much pork in this thing that we're going to wish they passed the first one (which I also opposed - not that it matters). Now, we're threatening that we need to subsidize all manor of port or this whole thing will just bring down "Main Street". Did anyone mention that Main Street will be paying for this?

  • Michael Miller

    "This is Iraq without the body bags, and without the personal honor of brave soldiers in the trenches to give the crisis some kind of dignity."

    Well said.