The bail-out bill got bailed out yesterday, and Wall Street went into a funk as a result. However, what I found most interesting is how the GOP was getting blamed for it. But if one looks at the voting, here's what they discover:
The bill needed 218 votes to pass. It got 205, and 95 Democrats voted against it. Had less than a fourth of that number voted in favor of that bailout, it would have passed - and done so without the GOP being able to do anything about it. So why weren't the Dems able to get the necessary votes from their own party?
Well, it seems that there is something even more important than doing "what is good for the country", and that's making sure that you have nothing in your voting record that could come back to haunt you later. Basically, the Dems didn't want only their asses to be hung out to dry in case this comes back to bite them in the butt.
And yet, that's not how I read it in most newspaper articles yesterday. Instead, I read mostly about Speaker Nancy Pelosi scolding the GOP for failing to show up and being unpatriotic and such. It seems to me, though, that her scolding should have instead been directed towards members of her own party. Like I said, this bill was GOP-proof if the Dems wanted it enough, but I didn't see that particular fact mentioned in newspaper articles yesterday. I'm not saying that there's liberal bias in the media, but....
Another thing: For the better part of a week, we've been told how big a financial crisis this is and why it's so important that some bill goes through. And yet - and yet - Congress has recessed until Thursday because of Rosh Hashanah. Okay, if you're Jewish, I can understand that you would want to celebrate your holiday. BUT, if you're NOT Jewish, and if the crisis hasn't gone away - then getcher ass back there and settle this!
It's a crisis, right? And it needs to be dealt with, right? I'm not at all saying that the Jewish members of Congress should not be allowed time off to celebrate their holiday, but I ask: Will the financial markets wait until Thursday before something happens again? What I AM saying is - if the members of Congress can take a 2 day holiday despite having told us for days that something needs to be done NOW, then I have to doubt just how urgent this crisis really is.
That, plus the hard-sell that we've endured lately really makes me suspect that foul play is afoot. Throw in the fact that we are mere weeks away from a presidential election with candidates that have expended lots of emotional capital, and you have a virtual guarantee that conspiracies are in place that have more to do with achieving political aims rather than doing what's "good for the country".
The radar in my cynical side is going off like gangbusters here, folks. Time will tell whether I'm right.
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3 months ago