Remember, if such a bailout should ever come to pass, it would make Grover Norquist's dream of "starving the beast" come true:
It was low, almost slapstick comedy yesterday to listen to John Boehner try to blame Nancy Pelosi for this, as if somehow the price of achieving Grover Norquist's dream of "starving the government until it shrinks to the size it can be drowned in the bathtub," which this bailout plan will do, is that we forfeit our right to criticize the Bush administration for getting us into this mess. These rightwingers are trying to paint this as socialism. It is instead very nearly a proposal to implement a Treasury Secretary monarchy, about as rightwing as you can get. And, if implemented, it will make it impossible for us to fund health care, education, public works, environmental protection, and effective regulation of industry, because the government will not have the money to do these things.
It does seem as if the current financial framework is imperiled. Well, the current financial framework, truly a house of cards, has been set up by the robber barons for their own exclusive benefit, and it SHOULD be imperiled. Indeed, it should be REPLACED by a more sensible set of institutions and regulations that might not be so capable of pushing us toward such precipices, by preventing the concentration of wealth into so few hands. This is a failure, an absolute, abject failure, of Milton Friedman's economic theories, and needs to be recognized as such. We must stop following the Chicago School and their pied pipers.
We need to STOP exporting American industries and jobs. We need to STOP the rush away from pension plans into "free-market" 401k plans. We must STOP saddling American companies with the costs of health care, and change to a system where the government covers such costs like it does in every other civilized nation on earth. We must STOP sending dollars by the billion to OPEC. We must STOP flushing $10 billion a month down the Iraq toilet. And we must NOT give Wall Street $700 billion, which it will just absorb like a black hole before the New Year comes around, and will be back again for another handout, making the same extortionate threats.
I don't see it coming from Obama, though. He is up to his neck in Chicago School connections. This is what I dislike most about this election. BOTH candidates were picked by the elite, and no matter which one gets in there, we are screwed.
If Democrats are lucky, they will throw this election and saddle McCain with his mess.
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