“I Gulped”

Call me a cynic, but when I read this article on the Feds proposal for getting the country back on track, I immediately wondered whether the Feds are telling the truth, the whole truth, and nothing but the truth.

Remember when we were told the sky was falling and we would all be nuked by Hussein if we didn’t bomb them first?  Turned out not to be so.

Oh, then there was the passage of the Patriot Act.  Remember that?  No one had the time to actually read it, but we were all told it needed to be passed or we’d all die.

Well, I’m beginning to wonder now about this outrageous bailout after reading this:

[snip]

Sen. Charles Schumer, D-New York, said that when he heard what might happen to the economy if Congress failed to act, “I gulped.”

Missing from this article is a discussion about regulation or international cooperation.  Will the American taxpayer bear 100% of this burden?  Is John McCain still crowing about all those tax cuts for the same fat cats who created this meltdown?  Will anyone be held accountable?

It’s looking to me like this is just another CYA.  Yes this would have hurt Main Street if we allowed the market to do its thing, but you know what?  It would have hurt Wall Street much, much more.  And they deserved every bit of it and then some.

I’m disgusted.

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