re: Bailout and Politics
Someone wrote in response to my last posting, "Bailout and Politics":
You missed my point. McCain was taking credit for passage of the bill before it actually went down. You know, his "suspension of his campaign", his going to Washington, intervening to get the Republicans to vote in favor, and his self promotion as the one who made the difference in the vote. And when the motion fails, with the Republicans voting 2 to 1 against it, he blames Obama while at the same time claiming to eschew politicizing the issue. Phony!!!! Saying anything , lying about or changing his position depending upon what will be best for him to win the election, he projects his own motives onto Obama when he says that Obama would rather lose a war or say anything than lose an election when in fact it is he who is doing so.
By the way, I was opposed to the passage of the measure. You will notice that both the far left and the far right combined to defeat it. The far left was against it because it was a handout to to the moneyed interests neglecting the middle class. The right was against it because it was a socialist government take over of private industry. I was against it for both reasons but viewed the takeover as fascism with a single Wall Street Czar (Secretary Paulson of Goldman Sachs) sealing the collusion of State and Industry.
Even if President Bush wont or can't, Congress should and could do better! The administration's rush to legislate on the basis of the outrageous Bush-Paulson plan, using fear as a motivator was like the way they orchestrated the run up to the Iraq war based on Weapons of Mass Destruction. Congress should have been urged to spend some reasonably short time to come up with an entirely different approach that would satisfy the populace and the politics. There is a history of such other approaches that have been used in times of financial crises that have proved successful.
Had they done so, the calamitous reaction to the failure of Congress to act as reflected in the shard drop of the US markets could have been avoided.
Michael
What about the 60 or so Democrats that voted against the bill?Here is my response:
You missed my point. McCain was taking credit for passage of the bill before it actually went down. You know, his "suspension of his campaign", his going to Washington, intervening to get the Republicans to vote in favor, and his self promotion as the one who made the difference in the vote. And when the motion fails, with the Republicans voting 2 to 1 against it, he blames Obama while at the same time claiming to eschew politicizing the issue. Phony!!!! Saying anything , lying about or changing his position depending upon what will be best for him to win the election, he projects his own motives onto Obama when he says that Obama would rather lose a war or say anything than lose an election when in fact it is he who is doing so.
By the way, I was opposed to the passage of the measure. You will notice that both the far left and the far right combined to defeat it. The far left was against it because it was a handout to to the moneyed interests neglecting the middle class. The right was against it because it was a socialist government take over of private industry. I was against it for both reasons but viewed the takeover as fascism with a single Wall Street Czar (Secretary Paulson of Goldman Sachs) sealing the collusion of State and Industry.
Even if President Bush wont or can't, Congress should and could do better! The administration's rush to legislate on the basis of the outrageous Bush-Paulson plan, using fear as a motivator was like the way they orchestrated the run up to the Iraq war based on Weapons of Mass Destruction. Congress should have been urged to spend some reasonably short time to come up with an entirely different approach that would satisfy the populace and the politics. There is a history of such other approaches that have been used in times of financial crises that have proved successful.
Had they done so, the calamitous reaction to the failure of Congress to act as reflected in the shard drop of the US markets could have been avoided.
Michael
posted by Michael | 8:51 AM
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