I want to make one thing perfectly clear right here at the start that I am a free market capitalist. A business that makes bad business decisions or that does not effectively compete in the marketplace, will and should be allowed to topple of its own accord, heedless of the sometimes terrible and devastating consequences. Enron would be a good example here. So would be Arthur Anderson that fell apart in the wake of Enron's demise.
That leads me to the current situation we have with the banks and the proposed $700 billion bailout which failed in Congress today. I am fit to be tied with House republicans who cast a "no" vote for this very important bill. Where are their heads at? Their sitting president is calling for it. So is their presidential nominee. I think most Americans, though admittedly there is a hefty opposition, are also calling for it.
But, republicans say. We have to consider free market capitalism here.
Fine. Dandy. Swell, all. But honestly I don't think the idea of free market capitalism really applies here when it's the entire financial system in crisis, which if we don't fix it, could topple the entire US economy and throw us into the worst recession we've ever seen. This is not like Enron or Arthur Anderson at all.
And what about this ridiculous argument that was made by Minority Leader John Boehner (I think that's pronounced boner) that "we could have gotten (the bill) passed today had it not been for...partisan speech that the Speaker gave on the floor of the House?"
So, because Nancy Pelosi happened to have said some things that republicans didn't like about the president's economic policy which, in the democrats opinion, has been a large contributor to the current economic crisis, we just instead prefer to let the economy go into yet more freefall? We all know that socialist democratic urgings in the Congress to sell the American dream to those who, it now appears obvious, could not afford to pay for, was at least one large contributor.
But this is moot. It's an obvious case of he said, she said, and it really doesn't matter right now. Who gives a flying copulation who did what, when, or how? Right now the issue is the shoring up of an economy that is about to implode.
Hey folks. Wise up. We can argue the details later, thank you, and decide after we've gotten this bull by the horns whose heads we may want delivered on plates.
What we need to do now is get a bill passed.
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