Jerry Pournelle on Today’s Bailout Activity

• September 30, 2008

According to Pelosi the entire crisis is due to the Bush administration, and by voting for the bill the Republicans would agree to that. Nothing about CRA and affordable housing. Nothing about the war which Congress approved. It’s all the fault of the free market.
I am torn between thinking this is childish, and fury at this narrowminded action.
The problem is simple: no one is sure that a bailout is needed. If a bailout has the effect of empowering those who caused this mess to begin with, then it might make things much worse; and Pelosi’s triumphant cackle fixing all blame on Bush does not generate great confidence. If the official Democratic Party view is that there was nothing wrong with the notion of setting up Fannie Mae and Freddie Mac and pushing banks to make bad loans so that we can have more affordable housing and more home ownership, then it is a clear demonstration that the Democrats either do not know, or do not care, what their contribution to this mess has been.

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http://Array Neiman

The Democrat talking points appear to be gaining some support, mainly that the Republicans killed the bill because their feelings were hurt by Pelosi’s partisan speech, Republicans are unPatriotic, the Republicans ran Congress for six years under Bush and together they rewarded their rich friends and blocked all Democrat attempts to pass legislation to fix these problems.

I think considering so many Americans, absolute morons, think Obama will better handle the economy, they will join in blaming McCain and the Republicans for all of this mess and the Democrats will win big time in November.
docdave

I’m sure the Dems are trying to pin all this on the Repubs it being election year. Of course, to the Dems everything is a crisis that can be blamed on anybody but themselves.
http://SayAnythingBlog.com The_Whistler_ofnd

Where are alternative Plans, from other strong Leaders?

Great point, at least come up with a plan to stave off anything bad for a while, like a bridge loan…
http://SayAnythingBlog.com The_Whistler_ofnd

You can’t jail someone for performing his legislative duties.

So as slimy and rotten as the guy is he can’t be put in jail.

On the other hand he should be unemployed.

Of course his constituents have no standards or he would have been out of there when his “friend” ran a gay escort service out of his house.
http://views-from-right.blogspot.com/ subbob

Someone made a compilation of C-SPAN snippets, from late 2004, of hearings on Fannie Mae and Freddie Mac.

If anyone doubts this crisis was foreseen, and that Democrats had some complicity, this 8-minute clip will certainly change your mind.

http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl

It’s an annotated compilation of C-SPAN congressional testimony – very enlightening.
Jerry

If Republicans can’t handle a JackAss like Pelosi, all I can say is I think they look weak..

Where’s the “Leaders”?.. Who’s going to stand up and call this Crap what it is?.. Confront that Whacko woman Publicly?..

Bush presents a Plan, as contested as it may be, it’s Leadership!

Where are alternative Plans, from other strong Leaders?
Put something up and push it through!

Quit screwing around!
Brainmaggot

these are dangerous times we need to get drilling on line now for national security although i fear the off shore fields were used as leverage with china and we cannot drill.
http://www.willisms.com/ Zsa Zsa

Barney Frank should be apologizing to all Americans and spending some time in Jail!
http://www.willisms.com/ Zsa Zsa

Pelosi is So full of it! IF anyone is to blame it is the liberal Dems Barney Frank and Chris Dodd. Fannie Mae and Freedie Mac are their babies! They are the one who encouraged making sub standard Loans to individuals who could NOT Afford to pay them back.
2Hotel9

Perhaps we should draft Dr Pournelle to work on this “problem”, he damned well would do better than the current set of morons.

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Jerry Pournelle on Today’s Bailout Activity

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