I may not know how to save our country from this economic meltdown, but it doesn't take a genius to figure out that the Senate and House Republicans solution is crazy loco. Despite their insane offer to fix the greed of deregulated capitalism, with more deregulated capitalism, the media is letting the extreme elements of the GOP off the hook.
The Democrats are no better. Instead of taking this golden opportunity to brand the Republicans with their failed free market theories, they're allowing themselves to dragged into this cesspool, and come to the rescue of these thugs. Democrats will spend a trillion dollars to bail out the economic mess Republicans created. Then, depending on how things work out, Republicans can always blame the Democrats again for wasting a trillion dollars of taxpayer money. It doesn't have to happen, and here's why.
It would be easy to tell the press over and over, "We're not going to pass any Wall Street rescue plan unless the Republican freeloaders help pay for the economic meltdown they created with deregulation and laissez-faire capitalism. Getting the government out of the way is going to cost taxpayers over a trillion dollars."
The Republicans want to bring "private capital to the market" by "removing tax and regulatory barriers."
According to NBC reporter Mike Viqueira, "Their trying to look at a more laissez-faire free market, anti-regulation approach to this."
It's insanity: doing the same thing over and over again and expecting different results.
Who would you trust to handle the crisis? Let the NY Times report, then you decide.
Mr. Boehner pressed an alternative that involved a smaller role for the government, and Mr. McCain, whose support of the deal is critical if fellow Republicans are to sign on, declined to take a stand.
Mr. McCain was at one end of the long conference table, Mr. Obama at the other, with the president and senior Congressional leaders between them. Participants said Mr. Obama peppered Mr. Paulson with questions, while Mr. McCain said little.