Nothing reflects Washington politics better than to spawn a crisis in order to impose desired social engineering. Now that we are riding the fast track to socialism, the Democrats scream, “Crisis!” so often that half the people just instinctively bend over and shout, “Thank you sir, may I have another?”
The recent demand for a bailout or in some minds a ransom is the product of political corruption and Wall Street greed. We know by now that when government tampers with the free market, the results are usually worse than if they would have just remained an innocent bystander.
In this case, political strong-arming from the Democratic Party set the stage for financial failures by requiring that an overwhelming number of unqualified people receive loans they could not possibly pay back.
We also know that Democrats are exclusively responsible because there is none of the usual cries for investigations or hearings. There are no Republican scapegoats splashed across newspapers and TV news shows.
The same Democrat politicians responsible for this mess remain in positions that enable them to rush the process. Notice how they are quick to divert the public’s attention with cries of Armageddon. This tactic provides cover while they sweep the incriminating details under the rug before anyone has a chance to ask too many questions.
Finally, we have President George Bush the younger. With the stroke of the pen, he sealed the deal for socialism by forcing the innocent to pay the debts of the reckless. He set into motion the idea that failures’ reward is a bailout by the taxpayers.
You might think this situation would provide the republicans a chance to show strong leadership and maybe even pick up a few votes. The people were clear and voiced a strong distaste for the whole sorted affair, but instead republican leaders also recognized a chance to grab a little more power so became deceptively silent.
The first repercussion is already in play. California quickly recognized the opportunity and secured its place in front of the bailout window. Expect more to follow their lead.
The sad part is the bailout of 700 billion plus perks didn’t fix anything. It only sent the problem into the future so we can do it all over again. It did however allow the government to secure it’s tentacles into the mortgage and insurance industry. Not a coincidence in case you wonder.
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October 6, 2008 at 7:34 pm
the Grit
Hi LC,
Well said. Except that you left out the real irony, which is that one of the main people to blame for this mess, Barney Frank, is now in charge of the investigation into who is responsible. Personally, I think this is just his means of revenge on the world for busting up his gay brothel. On the other hand, I’m still trying to figure out why the Government is trying to restore the flow of credit by spending so many billions buying bad loans the banks have made instead of just lending the money directly to the people directly affected by the lack of credit. Dang, just think of the votes that would guarantee down the road.
the Grit
October 6, 2008 at 10:47 pm
Lord Crimson
Hi Grit
Barney Frank in charge… how typically Democrat to allow Al Capone run the investigation of the Valentines Day Massacre. And how typically Republican to allow it to happen without saying a word. All this makes Norman Bates from Psycho look normal.
Barney’s gay brothel… now that’s funny and deeply disturbing at the same time. But as Barney Frank would say, “A boy’s best friend is always his mother.”
Why would the government buy bad loans? If the government buys the loans from the bank they own the property and essentially the occupant that resides within. If they give the money to the buyer then they would own the home and no longer need government. As you know, when you are in dept you are a slave to the lender.
Lord Crimson