“We have acted boldly to prevent the crisis on Wall Street from becoming a crisis in communities across our country,” President Bush said when the house passed a pork barrel filled, embarrassingly ineffectively, anti-American bail out bill today. “Boldly” was the word he chose. When does acting boldly cross the line to acting foolishly?
I believe the votes can be broken down into three groups. The first are people who actually believe we are in a financial crisis and that this package will prevent the worst fiscal crisis in our country’s history. I’ll call them the idiots.
The second group in congress who voted for this bill has no real understanding of financial markets but President Bush scared them. In their panic, they are lashing the financial future of the country to any floating stick they can find. They’ll shove any good ideas under the surface just to keep themselves afloat. I’ll call this group the cowards.
The final group who voted for this bill has been purchased by pork barrel projects. During this time of crisis, they stopped and said “what’s in it for me?” A great example is two Oregon representatives who switched their votes to yes once a provision protecting makers of children’s arrows was added. This provision is going to help a grand total of 9 companies in the nation, two of which are in Oregon. The country cried out for leadership and Senators Ron Wyden and Gordon Smith kicked the American people in the crotch. Luckily we will have wooden arrows to shoot at them. I ask the people of Oregon to vote against Senator Gordon Smith in 2008 and against Senator Ron Wyden in 2010. Oregon, stand up for your country and bring these two down.
Let’s hop on over to my own state of Rhode Island, may it fall into the ocean. Representative Patrick Kennedy, who is only in politics out of some perverse aristocracy, tacked on a measure to provide mental health care for millions of Americans. Unlike the wooden arrow atrocity, I don’t fault the need for mental health assistance. This is true now more than ever as our politicians as well as our financial institutions screw the American public. I do get a sense of satisfaction knowing that the politicians are getting sloppy seconds. Speaking about messy stains, let’s get back to Patrick Kennedy. While the country needed sanity, he embraced a pet project and tacked it on to the biggest foolish blunder in American financial history. I will be voting against Patrick Kennedy in November and I ask other Rhode Islanders to do the same.
Post No. 213: There's Malice in the Palace
6 months ago
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4 comments:
The relative worth of the bill itself aside, I have never been more disgusted with the members of congress, on both sides of the aisle.
Again, not talking about the value of the bill itself here, but those who initially opposed the bill said they did so because it was the right thing to do, and that as a matter of principle they couldn't get behind voting for a bill that they believed would prove ultimately damaging to America sure lost their religion when Harry Reid dangled a shining ornament of their own to hang on the Christmas tree bill that was eventually passed.
Truly disgusting.
I find it absolutely fascinating that any elected official in Congress would tack on ANY measure to this bill that had anything to do with matters outside of the financial sphere. That tells us how much respect they have for us.
To both: That actions of many in our congress are shameful. It is like stealing candy from children on the titanic as it sank.
There are so many great minds in economics in the US universities, I am surprised the politicians dont take their help. Maybe their ego comes in and they have to persist with the people they picked at the beginning of their terms. Maybe if they make too many changes in key positions they are afraid that public opinion will turn against them?
I am happy that the Nobel committee has recognized Krugman for the nobel prize in economics this year. Now here is a guy who had predicted this crisis. But does he have the solution? I think not, first the sentiment has to change and maybe it is good that the Bush admin will go away soon and new thinking can come in.
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