Rainy Sunday Blog
Why can't those knuckleheads in Washington come up with a plan? Damn good question, if I say so myself.
The Democrats do not need Republican help -- they control the House and the Senate and Bush will bend over backwards to see and agree with any plan at all. So what is the hold-up? Surely, if they were so gung-ho to pass a bill and squeeze the $700 billion out of us taxpayers, they could just pull the trigger and "let fly?" Pelosi -- queen of disinformation and political misrepresentation -- stated that it "... is not me blowing this up. It is the Republicans." Nancy, you lying POS.
I suspect that the real problem is that the plans they have come up with are dogs. Larded to the third standard deviation with pork and handouts for every entitlement and lunatic-left cause known. And they don't want to place themselves "on the hook" for it. Far better to be able to point the finger at a later date, claiming that it was Republican influences that derailed such a good plan. This might be why the GOP looks at this proposition with something akin to skank-eye. That and the fact that about 80% of the American public don't think that the banks should be bailed out that lightly, and ever-aware of the need to pander to voters, the Democrats simply don't have the guts to pass this legislation on their own.
If the Democrats were sure that their plans would succeed, then they would jump into the limelight faster than Bill Clinton hunting for loose women. But they probably have a sneaking suspicion that when this all plays out -- and the lefties start handing out forgiven mortgages/houses to indolent and unproductive -- the vast unwashed between the Coasts may have had enough of Pelosian income redistribution / socialism.
So while it is curious/ironic that the Dems are pointing their fingers at the GOP as the root of all this evil, their reticence to "cure" these ills shows some comprehension of some of the true root causes for this fiasco ... their own redistribution policies that caused Fannie and Freddie to metastasize into the cancers they represent to our economy. And that more of the same won't help and may ultimately cause a disaster to the economy ... or worse, cause the GOP to regain control of Congress.
Let's be clear, no political party, qua party, "did" this to the economy. Rather it was good old-fashioned American greed -- and greed has no particular party affiliation, no matter how much Democrats wish it to be otherwise. Americans were and are greedy for more goods, better houses, more savings, power, a better car, ... and why not? It is greed in the form of personal ambition and lust for goods that has moved our society from mud huts to the moon. It is also greed that created various financial panics since we figured out how to use money or to barter to corner markets. It is part of the natural cycle of things.
Americans saw the opportunity to "hit the jackpot" with the housing bubble: buy that which you cannot afford and sell it on to someone else who is just as greedy as you -- and unable to afford the house too. A classic Ponzi scheme. Everyone who is paid out is happy, and those holding the house at any given time are nervous as cats ... gotta flip it quickly! And Big Business (read GOP aligned interests) was only too happy to earn fees writing mortgages, with real estate brokers working with loan originators in a massive feeding frenzy. Pigs at the trough. And we turn out to be the guarantors.
Fannie and Freddie were the the largest source of trough-manna out there: they'd buy anything, no matter how flimsy and unlikely to get repaid. While ostensibly private, everyone knew that the Federal Government had to stand behind them -- and Congress did absolutely nothing to dissuade the "People" from those beliefs. As I have written a few blogs ago, Barney Frank is one of the arch co-conspirators in this Ponzi scheme: he actively prevented the clean up of this mess three years ago. Had we done so in 2005, it is likely that Bear Stearns, Lehman and AIG would still be with us ... the CDO disaster is post 2005, with the worst "securities" issued with the most toxic subprime debt issued in 2006 and early 2007.
Frank is now "charged" with orchestrating (along with co-conspirator Dodd) the bail out? It is like telling the fox to clean up the hen house after eating the chickens. Meanwhile, the fox is blaming the GOP farmer for liking the eggs that the chickens laid.
And you know? I don't think that I would be too keen on signing my name to the Democrat plans laid out so far. One of these bastards included a 20% rake off of the top to local community initiatives like "Acorn." Google Acorn for giggles. Make sure that you have a vomit bucket close at hand when you realize that we would be funding these cretins to the tune of hundreds of millions of dollars. Paid first ... before taxpayer received any relief. Of course Nancy Pelosi was behind that .... Of course. And there is similarly no doubt how this organization and its adherents vote, either. Which Republican would vote for a relief package that sends the equivalent of the total GDP of large nations to low income and minority activists? Don't you remember? We OWE it to the terminally jobless to buy them a house. We probably owe it to them to provide maintenance and utilities too.
The Democrats do not need Republican help -- they control the House and the Senate and Bush will bend over backwards to see and agree with any plan at all. So what is the hold-up? Surely, if they were so gung-ho to pass a bill and squeeze the $700 billion out of us taxpayers, they could just pull the trigger and "let fly?" Pelosi -- queen of disinformation and political misrepresentation -- stated that it "... is not me blowing this up. It is the Republicans." Nancy, you lying POS.
I suspect that the real problem is that the plans they have come up with are dogs. Larded to the third standard deviation with pork and handouts for every entitlement and lunatic-left cause known. And they don't want to place themselves "on the hook" for it. Far better to be able to point the finger at a later date, claiming that it was Republican influences that derailed such a good plan. This might be why the GOP looks at this proposition with something akin to skank-eye. That and the fact that about 80% of the American public don't think that the banks should be bailed out that lightly, and ever-aware of the need to pander to voters, the Democrats simply don't have the guts to pass this legislation on their own.
If the Democrats were sure that their plans would succeed, then they would jump into the limelight faster than Bill Clinton hunting for loose women. But they probably have a sneaking suspicion that when this all plays out -- and the lefties start handing out forgiven mortgages/houses to indolent and unproductive -- the vast unwashed between the Coasts may have had enough of Pelosian income redistribution / socialism.
So while it is curious/ironic that the Dems are pointing their fingers at the GOP as the root of all this evil, their reticence to "cure" these ills shows some comprehension of some of the true root causes for this fiasco ... their own redistribution policies that caused Fannie and Freddie to metastasize into the cancers they represent to our economy. And that more of the same won't help and may ultimately cause a disaster to the economy ... or worse, cause the GOP to regain control of Congress.
Let's be clear, no political party, qua party, "did" this to the economy. Rather it was good old-fashioned American greed -- and greed has no particular party affiliation, no matter how much Democrats wish it to be otherwise. Americans were and are greedy for more goods, better houses, more savings, power, a better car, ... and why not? It is greed in the form of personal ambition and lust for goods that has moved our society from mud huts to the moon. It is also greed that created various financial panics since we figured out how to use money or to barter to corner markets. It is part of the natural cycle of things.
Americans saw the opportunity to "hit the jackpot" with the housing bubble: buy that which you cannot afford and sell it on to someone else who is just as greedy as you -- and unable to afford the house too. A classic Ponzi scheme. Everyone who is paid out is happy, and those holding the house at any given time are nervous as cats ... gotta flip it quickly! And Big Business (read GOP aligned interests) was only too happy to earn fees writing mortgages, with real estate brokers working with loan originators in a massive feeding frenzy. Pigs at the trough. And we turn out to be the guarantors.
Fannie and Freddie were the the largest source of trough-manna out there: they'd buy anything, no matter how flimsy and unlikely to get repaid. While ostensibly private, everyone knew that the Federal Government had to stand behind them -- and Congress did absolutely nothing to dissuade the "People" from those beliefs. As I have written a few blogs ago, Barney Frank is one of the arch co-conspirators in this Ponzi scheme: he actively prevented the clean up of this mess three years ago. Had we done so in 2005, it is likely that Bear Stearns, Lehman and AIG would still be with us ... the CDO disaster is post 2005, with the worst "securities" issued with the most toxic subprime debt issued in 2006 and early 2007.
Frank is now "charged" with orchestrating (along with co-conspirator Dodd) the bail out? It is like telling the fox to clean up the hen house after eating the chickens. Meanwhile, the fox is blaming the GOP farmer for liking the eggs that the chickens laid.
And you know? I don't think that I would be too keen on signing my name to the Democrat plans laid out so far. One of these bastards included a 20% rake off of the top to local community initiatives like "Acorn." Google Acorn for giggles. Make sure that you have a vomit bucket close at hand when you realize that we would be funding these cretins to the tune of hundreds of millions of dollars. Paid first ... before taxpayer received any relief. Of course Nancy Pelosi was behind that .... Of course. And there is similarly no doubt how this organization and its adherents vote, either. Which Republican would vote for a relief package that sends the equivalent of the total GDP of large nations to low income and minority activists? Don't you remember? We OWE it to the terminally jobless to buy them a house. We probably owe it to them to provide maintenance and utilities too.
posted by Zaphod at Sunday, September 28, 2008
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