Interestingly enough, both episodes were built on a foundation of fear and imminent threat, along with the pressure from our complicit media sources who faithfully published false presumptions about the dire consequences if we fail to act. If there’s any consolation it will be that this second huge lapse in judgement will come without the loss of life. That’s the good news.
This bill will do nothing to restrict negative amortization practices, adjustable rate mortgages or stem the tide of new foreclosures. Home values continue to head south.
The Wall Street crime syndicate is back in business.
I find it bizarre that anyone would think that the government handing out $700 billion in exchange for risky Wall Street investment deals is Socialism-lite. Now, if it were the other way around, where the the government demanded Wall Street firms buy $100 billion worth of US bonds for $700 billion in cash, well.....now that's a different story.
Now that Congress has approved of the bail out to nowhere, when will they address the looming credit crisis?
"Never let us negotiate out of fear" -- John F. Kennedy
2 comments:
Only those two times? What about FISA, SCHIP, torture, the tax cuts for the wealthy and the Patriot Act to name a few? Come on, dude.
You're right. But some those originated as Bush initiatives ramrodded through by the GOP. Those that came from the democrats were vetoed - hence the "do-nothing" congress. They're big issues and their accumulative effect is damaging, but not as great in my view as the big two.
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