THROW THE BASTARDS OUT!!



This bailout - the more I read about it the more it sucks. Pat Buchanon has a great article with historical content in it here and asks:

"Is it fair that businessmen who fail in neighborhood stores have to close shop and often sell their homes, while Wall Street titans are spared the consequences of monumental stupidity and greed?" His answer:  "Hell, no!" Is he right?

Lew Rockwell:
"The Use of 'Toxic'
Posted by Lew Rockwell at September 22, 2008 07:05 PM

"Funny how all the media decided to call overvalued bonds "toxic." Not stupid, not reckless, not worthless, but poisonous. The implication is that the banks are somehow not at fault; they were poisoned.

Toxic comes from the Greek, meaning a poison into which arrows were dipped. It is the Fed's boom, and the attempt to keep failing institutions in business through potential hyperinflation, that are poisoned arrows aimed at our freedom and prosperity. The shooters are the Fed, the Treasury, and the plutocracy. The response: the shield and buckler of liberty."

Limbaugh:
"There is a singular culprit here, and that is it -- and there's a great idea at stake here, too, and the idea is that the free market measures itself and handles itself better than the government running.  The great idea that we're about to throw away with this bailout is that the government can run things better. The government can take care of you, the government can insure you, the government can protect you, the government can provide for you.  This is an idea which has been shown to fail around the world.  We are about to incorporate it here if this bailout goes through as designed.  This should not be a mystery anymore to anybody because the Drive-By Media refuses to do its job.  Last week the roots of this crisis were explained, and its authors were identified.  Long-serving congressmen and senators, overwhelmingly Democrats, working in concert with the liberal allies in the bureaucracies and the management of these so-called companies -- really government agencies, Freddie Mac and Fannie Mae. They're government agencies, they always have been -- and liberal special interests and advocacy groups hijacked federal housing policies and turned them into patronage programs.  The quasi-governmental entities were at the root of this problem because what they did forced the hand of genuine private mortgage companies to conform to the same irresponsible lending policies as Fannie and Freddie had adopted if they were to survive.  And it also fostered creation of sleazy mortgage companies whose business model was making lousy loans in the expectation of being able to dump 'em later through new financial instruments that had been created just to do that, and I have just gotten started...

It is a stain, it is a stench, and it is directly traceable to liberal Democrat policies and desires.  We know who caused the problem!  We know that we can only expect the change we need by replacing them with congressmen and senators pledged to a different course with a fundamentally different concept of how the federal government can best serve the interests of the American people."

UPDATE: God damn, this probably makes too much sense: two-year suspension of the capital gains tax.

Gingrich: “I thought if [Russian Prime Minister Vladimir] Putin had written that, I’d understand it,” Gingrich said.

Heritage Foundation: Putting Chris Dodd in charge of drafting the Senate’s bailout bill is like letting Ken Lay write Sarbanes-Oxley:
"There were early warning signs. In 2004, a whistle blower revealed Fannie had engaged in Enron-like accounting practices in order to meet profit targets that meant bonuses for CEOs. When conservatives on Capitol Hill moved to rein in Fannie and Freddie, liberals in Congress pushed back, and won as little oversight as possible for their political allies. Key to Fannie and Freddie’s defense was the development of “Partnership Offices” that funneled money into various housing projects in districts of key members of Congress. These efforts were coordinated with corrupt leftist housing advocacy allies like the Association of Community Organizations for Reform Now (ACORN), which has been indicted multiple times across the country for vote fraud."

Ron Paul: "Unfortunately, the government's preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention."