by Alex Tabarrok
on September 22, 2008 at 7:05 am
in Current Affairs, Political Science
It is becoming increasingly clear to me that President Bush is again choosing the shock doctrine, as he did in pushing for the Iraq War, to subvert the democratic process. His wish is to tie up the financial freedom of an Obama presidency. There needs to be a more uniform response (screaming, yelling, etc.) from intelligent people in America that we will not be bullied again in the same way into another terrible plan.
Next argument for this bailout: Do you want to wait for a financial mushroom cloud?
(via Paul Krugman’s blog post ‘No Deal’), the text of the proposal:
The proposal makes the Authorization for the Use of Force look like a very, very limited thing indeed; example:
“Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Frankly, the Democratic leadership in Congress should have executed Paulson on the spot for proposing this. Literally. The scum who gave us the Iraq war (lost, despite the redefinition of victory), the Afghani war (lost, albeit in very slow motion) and Osama Bin ‘I’m not that concerned about him’ Laden is again asking for a blank check?
Fall street has WMI (toxic paper, aka, weapons of mass insolvency). We must go in and take them (WMI) OUT. We can’t wait until the financial mushroom cloud.
Are we going to hear about metal tubes of unorthodox thickness (to be used to bury hard currency in underground bunkers, safe from federal authorities attempts to get their hands on the few remaining assets of the nationalized banks), and yellowcake from Niger (for a new, uranium based currency after the dollar turns into wastepaper) soon?
It is becoming increasingly clear to me that President Bush is again choosing the shock doctrine
It’s increasingly clear that partisans on both sides are idiots.
Dear Sir/M Paulson,
I am Mr.David Mark. an Auditor of a BANK OF THE NORTH
(FCT). I have the courage to Crave indulgence for
this important business
believing that you will never let me down
either now or in the future. Some
years ago, …
The Shock Doctine? LOL! This is the most socialist legislative frenzy our nation has seen in a decade!
His wish is to tie up the financial freedom of an Obama presidency.
Not really. What Bush is concerned about is defusing Democrat accusations that “You did nothing about the financial crisis!”.
Dubya proposes an outrageous bailout plan, then Democrats are forced to do one of two things:
A) Reject the plan, and then have the Republicans say “Well, we tried to implement a plan to deal with the economy, but the Democrats didn’t let us do it!”.
B) Endorse the plan, and thereby lose the ability to say “Bush ignored the financial crises”. Sure, they can argue “Bush didn’t do enough for Main St.!!!”, but it really takes the wind out of their sails… the most important thing in sound-bite politics is looking like you are “doing something”.
In response to Rex, all the Dems need to do is put on lots of riders that favor ‘the little guy’ then those soundbites turn into “We tried to compromise with this partisan administration to come to an agreement that would reluctantly bail out the rich fat cats, but that would include help for you – those in struggling households. They weren’t interested in helping taxpayers. We’re not particularly interested in only rescuing the reckless Wall Street bankers who created this mess.”
When we start seeing Janeane Garofolo as a guest on Fox News, we’ll know it’s time to panic.
BTW I realize I am sometimes a wiseguy, so I should be clear: I really liked a person’s analogy to the Iraq War. But until his post, I hadn’t seen how this handcuffs Obama should he win. If McCain wins, presumably things will go a little easier and he’ll be able to spend money.
E.g., couldn’t the few remaining important banks just *pretend* to have a credit crunch? Would the politicians be able to tell the difference? The Paulson Plan gives much more influence to the people running Goldman Sachs than those people had 12 months ago.
Just a friendly reminder: I am not the poster using the handle “a person”. I myself use the handle “Person” and the comment that Bob_Murphy deemed insightful, about the plan shackling Obama if he wins, was not mine.
I think it’s an interesting analogy, but not as mind-blowing as Bob_Murphy makes it out to be. (omglol intersubjective quale comparison)
All I want at this point is for the markets to calm down on a false sense of security one more time so I can move the rest of my assets into foreign stocks and commodities. I’m about 60% right now, and I really want to up it.
So, if the administration could just churn out of a few more lies, maybe another week or so, that should allow me to wrap this up.
I still haven’t decided if I’m joking.
“the war on error”: very good.
@#%$^#^&#% spell check, this should read
“I thank you in advance for my Increased BRAND ex post”
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