Friday, September 26, 2008

Wide Stance Bailout Plan: An Insult to Piles of Crap Everywhere

If you thought the Bush-Bernanke-Paulson bailout plan was so spectacularly awful that nothing could be worse, you were wrong. The far-right members of Congress have cobbled together an alternative, and suffice to say it demonstrates roughly the same level of knowledge and acumen that Sarah Palin has been showing of late. It's key features, each more hackneyed than the last, are these:

1. Tax cuts for the wealthy
2. Insurance for mortgage-backed securities
3. Deregulation
Lest you think #2 has a sensible ring to it, read the analysis of economist Michael Ettlinger, who says, among other things, "[t]hat’s akin to selling homeowners insurance in New Orleans after the dikes broke."

Just when you think these people can't go any lower, you find them furiously digging.


Paul said...

Thanks for posting on this! I was wondering about that plan and what it contained. The mainstream media wasn't giving many details, so far as I could find.

Dale said...

Paul, de nada. It's hard to understand this mess, and just as hard to keep up. I do what I can. Thanks for stopping by, as always.