They're spending over a trillion dollars to rescue doddering, failed companies that deserve to die. How dare they-- the congress-- allow the Fed and the Whitehouse to spend so much without oversight.
In times like we are experiencing tough, visionary leadership is needed and we're not seeing it.
The Whitehouse, with the help and support of the deservedly most unpopular congress in recent history, is planning a huge rescue for the finance industry. Reuters already estimates that rescue has exceeded a trillion dollars in cost.
How dare they? How dare they give corporate welfare on such an obscene scale without a whimper of question or challenge from legislatrs on either side of the aisle, while a fraction of that budget could be used to provide health care to every American. How dare they throw good money after bad when a trillion dollar investment could subsidize hybrid cars for a hundred million people and just about eliminate our dependence on foreign oil.
And instead, they save a handful of rotting, dying institutions run by failures.
How dare they double the ante on the loan to the automobile manufacturers, to $50 billion without DEMANDING-- yes absolutely requiring-- that they up the mileage dramatically, beyong the pathetic goals currently set within the existing cafe standards (Up to 35 MPG by 2020.) Are they idiots? If a vendor comes to me and asks me for double the size of the loan or payment, I ask what more am I getting in return?
Harry Reid, Chuck Schumer, Nancy Pelosi, Stenny Hoyer, Charlie Rangel... do your goddamned jobs and stop this crazy, stupid, panic-stricken rescue mentality that is wrong, wrong, wrong.
They say that if AIG wasn't saved that chaos would have ensued. Chaos is not always a bad thing. The alternative is lack of chaos and in biology, that's a sure sign of morbidity. Maybe it seemed easier to let AIG fail. Maybe it would have been scary for a time. But NO institution is or should be immortal. When one becomes so obviously unable to function in a healthy, successful way, it is time, like with a dying human, to let it go. Keeping it alive is the antithesis of good judgemnt and certainly, converting it to a government managed entity, is the antithesis of conservatism's most basic principles.
But since the leadership of the conservative, or should I say faux/former conservative party is leading the way in the socialization of the finance and securities industry, I say, don't stop there. While you're at it, take the leap and do something FOR the American people.
Give the American people health care. Spend $100 or $200 billion on it, whatever it takes. I dare any Republican who has remained silent as the finance industry has become socialized to complain about health care being socialized. I dare any Democrat (Harry Reid, Nancy Pelosi, Barney Frank,Henry Waxman and any bluedog democrat) to NOT speak out demanding approval of the legislation. There's a bill that's pending-- HB 676 and it could be passed posthaste. Do it, damn it! Enough of this finding money for doddering, senile corporations to protect foreign investors.
Just do it.