Saturday, September 20, 2008

Pushback On UberBailout

Looks like the Dems at least remember there's an election on, and that the geniuses who got us into this without any oversight are the same people Bush wants in charge to get us out...with no oversight.
House of Representatives Speaker Nancy Pelosi said on Saturday that Democrats want to deal swiftly with the Bush administration's $700 billion financial market rescue plan, but also want more oversight, taxpayer protections and regulatory reform.

"In working with the administration, we will strengthen the proposal by ensuring that the government is accountable to the taxpayers in any future actions under this broad grant of authority, implementing strong oversight mechanisms, and establishing fast-track authority for the Congress to act on responsible regulatory reform," she said in a statement.

"We will also seek to protect lower- and middle-income Americans ... from the fallout of the ongoing Wall Street crisis, by enacting an economic recovery package that creates jobs and returns growth to our economy," the California lawmaker added just hours after the rescue proposal was unveiled.

Financially this is a disaster either way. But frankly from a purely political standpoint, I believe the Democrats have the Republicans by the balls here. The Dems are going to want a lot of concessions out of this and they are going to get quite a few of them.

If the GOP doesn't play ball, the Dems are going to hammer them on the fact that the "fiscally responsible" GOP has no problem spending $700 billion on banks, but zero on American homeowners.

Even the most die-hard Republican voters aren't going to put up with that with an election just around the corner.

1 comment:

  1. Thank you, Dems. Hammer this, and hammer it hard.

    They want their bailout, we want assurances that this won't happen again. I want some fucking regulation.

    We're either going to go into hell together, or we can stop it and make sure they don't pull us back into hell.

    Either the market finally cacks it and dies, or the corps and financials get saved with the thought that if they make so much as ONE misstep they will get sodomized with a mile of razor wire.

    Either way, the whole mess is over and we can get to the task of rebuilding.

    DON'T let them blackmail you, DON'T let them scare you, and most of all DON'T LET THEM HOLD THE ECONOMY HOSTAGE. The economy is fucked, and they're only trying to save themselves from their irresponsibility and dicking over of 99% of the human race.

    HOLD THEM BY THE BALLS. HOLD THEM FUCKING ACCOUNTABLE.

    This should have happened fucking years ago.

    ReplyDelete