Listening to the Beloved Glorious Decider Guy tonight I was struck by two things. I had to actually go to whitehouse.gov to find the speech to see if my lying eyes could confirm what my partisan ears heard.
With the situation becoming more precarious by the day, I faced a choice: To step in with dramatic government action, or to stand back and allow the irresponsible actions of some to undermine the financial security of all.
Uh, excuse me? "The irresponsible actions of some…"? Care to name a few? Perhaps starting with the most blameless Decider Guy and rogues like Phil Gramm, the late and unlamented Ken Lay and others who began the rape of the American Marketplace unchecked?
The next little gem dropped out a few minutes later:
More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically. And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs. Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And ultimately, our country could experience a long and painful recession.
Yeah, because concern for "Average" Americans has driven soooo much of the policy of this President and his Adminstration.
Let’s face it, this is a man for whom being "bailed out" has been a fact of life. From his early experiences being rescued from his crappy service with the Texas Air National Guard to Harken Energy (what ever did happen to that SEC report, Mr Decider Guy?) to being bailed out by Daddy and a consortium of oil moguls including members of the bin Laden family. So his reticence to "bail out" anyone? Well, only if they are not the guy looking back at him in the mirror in the morning.
Finally, his entire speech was the most half-assed pitch for the a plan evah… his final pitch was not to "bring it" and fix this mess (that was half-assed at best) but a pitch to continue deregulation.
Once this crisis is resolved, there will be time to update our financial regulatory structures. Our 21st century global economy remains regulated largely by outdated 20th century laws. Recently, we’ve seen how one company can grow so large that its failure jeopardizes the entire financial system.
Earlier this year, Secretary Paulson proposed a blueprint that would modernize our financial regulations. For example, the Federal Reserve would be authorized to take a closer look at the operations of companies across the financial spectrum and ensure that their practices do not threaten overall financial stability. There are other good ideas, and members of Congress should consider them. As they do, they must ensure that efforts to regulate Wall Street do not end up hampering our economy’s ability to grow. (my emphasis)
Yup. "As they do, they must ensure that efforts to regulate Wall Street do not end up hampering our economy’s ability to grow." There it is, the real heart of his speech, it’s sort of like that old National Lampoon cover … "buy this magazine or we’ll shoot this dog"; Beloved Glorious Leader is telling us that if we don’t buy his bullshit, he’ll take down the country. And he doesn’t even care, it’s after his bedtime after all…