The nation's top economic policymakers acknowledged this morning that an already extraordinary series of government actions has failed to stabilize global financial markets and said that Congress must act quickly on a proposed bailout plan to avoid dire consequences for the U.S. economy.Funny how that works... One day you are complaining that government is on your back -- the next you're asking for billions to keep your house-of-cards together.
The Republican matra -- at least since Reagan -- has been: get government out of the way... Well, now we see what happens when we do it: the drunk frat-boy party gets rolling... and like anyone living on credit cards (we now allow banks to "leverage" there cash like they did back in the 30's) it eventually catches up to you...
Wll, looks like the boys have woken up hung-over -- and now they want the parents to pick up the bill for the damage.
How is it that those making the most noise for less regulation now have the gall to use hundreds of billions of our tax dollars to bail out the very people who's greed caused the problem in the first place? Is this the "free market" we keep hearing about from Republicans?
And to top it off they have the nerve to say "trust us -- we need to do this quickly -- without oversight or strings attached -- we need $700 billion ASAP."
Maybe they do ... but maybe taking a breath and putting a rational plan and system of oversight in place would save more pain down the road.
Maybe people will finally realize that we're not here to serve markets... they are here to serve us ... to serve society.
But I doubt it...
This country deserves the government it gets.