Is the House GOP Correct to Resist the $700 Billion Plan?

Once again, the public has been spooked by President Chicken Little and his minions to get exactly what he and his fat-cat backers want...more. It's an insatiable lust for money and power that knows no bounds. In all the hullabaloo, big companies are devoured at pennies on the dollar, and after all the money the money interests have made creating and trading these highly leveraged mortgage-backed securities, they now want us to cover their losses.

And anyone who argues that it is just this administration, or just one party in congress driving this does not understand the power of greed and fear, greed of the wall streeters, their lobbyists and key government officals, and the fear they can whip up in the population that drives the rest of government to fall in line.

Any minor changes to the timing of the bailout, promises of taxpayer security, future regulation and payback, are just window dressing on the main event - bailing out wall street with taxpayer dollars. And other pretty ornaments, like raising the FDIC max to $250K, could be passed separately if truly deemed effective without the rest of the bailout.

You know you're getting the bum's rush when all of a sudden its the eleventh hour, disaster is imminent, and no other option is really discussed. It's the Patriot Act and Iraq invasion all over again. And they do it because it works.

Steve of NJ 4:53PM October 01, 2008