Politics (4.00 / 4)

They're really afraid of taking the blame if they don't pass the bailout and the economy explodes, as they should be. But what they should also be trying to do is pass a better, smaller, bailout, and dare the Republicans to oppose it.

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by: Kanamit @ Sun Sep 28, 2008 at 20:46:42 PM CDT

Exactly n/t (0.00 / 0)

Former Edwards Supporter, Obama Supporter since January 30, 2008

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by: JewishJake @ Sun Sep 28, 2008 at 21:13:25 PM CDT

[ Parent ]

As posted above (4.00 / 1)

If it goes down at the hands of the GOP the Dems can walk away and force their hand.

We know the bailout is a load of crap but, from a strictly political point of view, isn't it a win/win for Democrats if the House Repubs shoot it down? I keep saying that the Democrats ought to tell the Republicans to come back to the table when they have a plan they all support, including McCain and Bush. It puts the onus on the Republicans to unite and lay their cards on the table. The Democrats would expose the GOP's double dealing and internal divisions. Then they could make a counter proposal that is better thought out.

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by: anothergreenbus @ Sun Sep 28, 2008 at 22:26:39 PM CDT

[ Parent ]

Even more interesting - (4.00 / 2)

It would be easy to read this post and thinks "oh, Dennis Kucinich, the skeptics' caucus must be progressives (plus Sherman)." But what I remember about the caucus is that it included Mike McIntyre of North Carolina, who is about the bluest Blue Dog there is. So it's possible we'll see this thing fail over fiscal concerns and concerns over the large transfer of wealth.

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by: NC 11 CD @ Sun Sep 28, 2008 at 20:54:43 PM CDT

Would be great (0.00 / 0)

I would love to see this crash and burn.  And if it happens because of Republicans, Blue Dogs, and Progressives then the powers that be will have to blame 90% of the country.

"Keep the Faith"

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by: blue south @ Sun Sep 28, 2008 at 21:41:40 PM CDT

[ Parent ]

Votes (0.00 / 0)

"...Pelosi, Barney Frank, and the New Democrats who are pushing this bill furiously."

Just like Bush and Cheney, the Democratic "leadership" and New Democrats have created their own reality. Unfortunately, the bubble has burst in mainstream America and the Congress Critters don't give a s##t.

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by: steelhead @ Sun Sep 28, 2008 at 21:48:06 PM CDT

I think they sincerely believe it is necessary (4.00 / 1)

Seems to me that it's easier politically to oppose this bill; if so, I have to assume that the bailout supporters truly believe something awful could or would occur if they don't pass this.

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by: ThomasPaine @ Sun Sep 28, 2008 at 21:49:18 PM CDT

with all due respect (4.00 / 2)

using the word leadership to describe the dems in charge is a misnomer, their actions certainly confirm this opinion.

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by: pc @ Sun Sep 28, 2008 at 21:51:31 PM CDT

Oh come on now. THis isn't rocket science, (4.00 / 1)

the house leadership is scared shitless that we're in 1929 mode and that a depression to make the "great" one look like nothing is on the way. Let's just give them that. They may be wrong, but I think that, even being as unhappy with Pelosi and the other "leaders" as I am, it's obvious that they're just trying desperately to avoid taking the fall for this. All of us know how happy Shrub and Cheney would be to announce loudly that the reason everyone's 401k is now fish wrap is that the Dems refused to cooperate in a bailout.

The US is in a hell of a mess, with no savings except those elusive 401k's, and very little way to support it's people if a major depression does come of this, especially with all the poor in danger of losing homes to balloon mortgage payments and with the explosion of prices in necessary items like fuel and food. Everyone is frightened. We've seen the largest wealth redistribution in history over the past 30 years, with the transfer of immense assets directly to the richest 1% of the country,the selling of huge amounts of assets to potentially disruptive foreign governments like China and Japan, and the trashing of the goodwill the US had earned in the world theatre after WWII in waging an unprovoked war against someone who once insulted Shrub's daddy. We would get some support from our direct allies in Nato, but damn little elsewhere. We literally CAN'T afford a depression right now.

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by: Silence Doesnogood @ Sun Sep 28, 2008 at 22:13:17 PM CDT

Anyone who doesn't believe we're on the brink of a Depression is deluding themselves (4.00 / 1)

But it is not at all clear that this bill will keep us away from the edge.  In fact, by burning up the last remaining bit of our credit for a generation, it leaves us dangerously exposed if it does not work.

Other countries have faced this credit crisis, including the US during the last Depression.  A common theme in how they dealt with it was investing in banks in return for taxpayer equity.

But Congress does not want to seriously consider that, because their paymasters on Wall Street do not want it.

In other words, blind greed and stupidity got us to the edge, and blind greed and stupidity may push us over.

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by: Taylor @ Mon Sep 29, 2008 at 04:26:34 AM CDT