Diary

Further Bailout Follies

With the Stock market tanking there is every prospect that the House will revote on the Bailout bill. The Senate votes Wednesday and my guess is that the San Fran Nan lead house will vote to authorize some sort of bailout close to what was proposed today or modified just enough to get the more liberal members of the house to approve it.Why? Well, the house democratic leadership is brain dead and tone deaf. However there is a reason why their approval rating is in single digits, the majority of the American people despise them and their lack of discernable action for the last two years. An economic crash could (might)hand the control of the House and or Senate to the Republicans, expecially as the spectacle of Nancy’s idiotic handling of the vote was prominently carried on the major news outlets. Spin, of course there will be spin, the MSM will spin this enough to generate enough power to light Chicago. But, no one trusts them anymore. The news media is perhaps less trusted than the Congress.I believe the average voter not only knows that the Democrats are in charge, but expect them to be responsible enough (why I don’t know) to solve this problem. I have a sneaking suspicion that they even know that the government is probably responsible for the mess we are in now. Maybe that is why the mail and phone calls were so heavily against the bailout, the American people felt that rather than help the problem government intervention would only make it worse. And, that might make a good poll question.
Nevertheless, I agree with blackhedd that a good faith effort needs to be made to place a value on the now worthless securities that undergird the financial system. Not to do so would court a potential disaster of Depression Era dimensions. And, the Dems might just be left holding the bag. What if the people aren’t as stupid and ill informed as they think they are? What if the MSM’s water carrying can’t wash away the Democratic fingerprints that are all over this bill? What if that 9% approval rating is because the American public REALLY understands what incompentent, socialistic nest feathering dolts the Democrats really are. Are they ready to risk their majority, their chairmanships and fancy post congressional jobs on the probablity of a financial melt down they may NOT be able to pin on the Republicans or Bush? Bush has out manuvered them on countless occasions. Is he doing it again? I think it is the Dems who are in a box and now MUST produce a to the current financial . Not doing so is a gamble I find it difficult to believe they will take. Nancy is a liberal jackass, but a risk averse jackass.Look for a vote on a bailout bill sometime Wednesday or Thusday at the latest