[Q] - So, to me, it seems abundantly clear that the Democrats
don't see the current situation as a crisis, and are acting like
everything is business as usual. To me, that says -- far more clearly
than their words -- that they don't think things are anywhere as bad
as they say they are.
And that is what convinces me that things are far worse than they
think.
Because the Democrats have been consistently wrong on the whole
situation, and have been for years. There is no end of videos of
leading Democrats praising Fannie Mae and Freddie Mac's stability, of
their performance, defending the leaders (most notably Franklin Raines
and Jim Johnson), and thoroughly denouncing and scuttling numerous
attempts to head off the problems that have started to come to a head
in the past month or so.
It's a kind of negative evidence, but it's persuasive to me: the
Democrats have a solidly established record of being utterly and
completely wrong on the whole mess. They are now acting as if the
situation isn't so bad, and are still far more interested in playing
their run-of-the-mill political games with the whole process. If they
are still wrong (and the odds are highly in favor of that conclusion),
then we are in real trouble and the bailout that they don't seem to
care about whether or not it passes is probably a necessary evil. -
http://wizbangblog.com/content/2008/09/29/ok-im-for-the-bailout.php
Makes sense. But for me, not quite enough to throw Capitalism under
the bus and embrace Socialism. Mush less suspend the Constitution.
What they should suspend is mark-the-market valuations to free up
capital, but that's too feakin' easy.
The writer also doesn't take into account that the only "outsider"
participating in on the AIG bailout negotiations was the current CEO
of Goldman Sachs, the Treasury Secretary's former employer.
I haven't been to DC lately, but now I can smell it from a thousand
miles away.
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