The Public Fights Back

October 1, 2008 at 10:16 pm (Banking Crisis)

Yes, we’re going to have a “deep recession.”  Duh.  The average American knows it.  It’s okay, “leaders,” you can use the D word.  Depression.  Yep, we get it.  The average American is not afraid of it.  McCain, Obama, Bush, Reid, Pelosi, Paulson… none of them comprehend.  They think we don’t understand there will be difficulties ahead.  Job loss, bankruptcy, doom!  Doom!  They figure they haven’t done a good enough job getting us to understand it will be bad news if we don’t give them unfettered power to use limitless tax money to buy up worthless “assets,” saddling our grandchildren with the problem we are too cowardly to face.

Here’s the problem.  While all the “experts agree” we need to “do something (anything!)” to shore up the markets, Monday’s vote reflected the 90 – 1 ratio of people who aren’t buying the official story.  The American public does not support the bailout.  The politicians, naturally, think they know what’s ultimately better for the nation, and are scrambling to do the exact opposite of what the public wants, because that’s what politicians do best.  And of course, they’ve enlisted the media, who is only too glad to help.

What’s been going on the past week could be summed up as such:  Every millionaire in the United States agrees we must buy up crappy worthless mortgage derivatives to prevent financial collapse using the money of every non-millionaire.

As fate would have it, however, a majority of seats in Congress are up for re-election in a few weeks and not a whole lot of those millionaires wanted to lose their spot by upsetting a public that is more enraged and more opinionated than they ever were, even during 9/11.  And it’s no wonder they were enraged, when language in the bill was such: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. “In the end, I suppose it doesn’t matter, since those who aspire to humbly lead us are busily trying to figure out ways to bypass Congress and bypass public opinion.  Good thing we have leaders like this to look out for us!  Even though Paulson, Bush, et al, didn’t see this coming, and went on and on about how secure our economy was up until the last moment, they’re still the “experts” and still the best equipped to pull us out of this mess, right?

Well, at least some of the members of Congress understand what’s going on:

 

Today’s article of doom: Bailout will only prolong crisis.

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