IDIOTS! IDIOTS EVERYWHERE! I'M AT WORK WATCHING THE HOUSE OF REPRESENTATIVES ON THE INTERNET AND EVERY SINGLE SPEAKER IS AN IDIOT!
"Congress has to act!" NO THEY DON'T! THEY DON'T! THEY DON'T! THEY DON'T! THEY DON'T! THEY DON'T!
About four months ago I said to my brother, "I don't believe any member of Congress cares about anything beyond his own reelection." My brother said, "None of them?" I said, "I don't have any reason to believe that any of them do."
AND NOW I'M TOTALLY VINDICATED! A building of 535 vultures. All of them. Every single one of them. The Republicans as well as the Democrats. The Mormons along with the others. There are no "sides" anymore. It's a venue of vultures circling the walking carcass of America. They pretend to have sides because they can't run for election with platforms like "I'll take all your money." So they take issues that Americans care about, pretend to support a particular side, and then take all your money.
This bailout has the following problems:
- It's now called a rescue package. Obviously you think "bailouts" are bad, but who hates "rescue packages"? Only Communists and child molesters! Are you a Communist or are you a child molester?
- This bill has worthless language that's meant to make you think it's important. Specifically, the suspension of "mark-to-market." The SEC already has the authority to suspend it; they put this in the bill to tell the SEC, "We really think you should look into it."
- There is a lender of last resort. The Federal Reserve is statutorily responsible to fill that role, not Treasury. The Fed is not authorized to "combat inflation," which is all they do. So much of the debate has been about adding oversight, but the existing oversight provisions are not exercised.
- Everybody wants a bailout. American automakers are next in line. California wants $7 bil. Originally it was just a joke that anyone who wanted money should call Paulson, but now it's not looking like such a joke.
- Government acts worst when it acts in haste. The bailout of AIG was put together in two days, and now looks like a horrible idea to many of the people involved. We were told this had to be done last weekend or the market would fall apart on Monday. It's now Friday and the Dow Jones Industrial Average is still above 10,000--a far cry from the 8,000 that was talked about.
- The Dow Jones Industrial Average is not the entire economy. Idiot congressmen were quoting the DJIA as grounds for supporting this heist. Again, they think you're too stupid to know that the Dow doesn't determine whether you have a job.
- This bill started from the bankrupt notion that the government is supposed to protect people from the negative ramifications of the market, and it's been argued from there. The original premise is wrong. How do you debate when the underlying premise is something untrue? "We shouldn't go outside because the earth's gravity is weak and we'll float into space. Do you think we should go outside or stay inside?"
Idiots, idiots everywhere and nary a congressman to lead.