As I write this, the bailout bill went down to defeat.
From where I sit, the bill was flawed from the get-go. To start with, the boneheads that screwed the markets up to begin with (Committee chairs Chris Dodd, Chuck Schumer, et all) claiming that they know what to do to fix this mess. That’s rather like giving a fox the keys to the hen house, and a fresh supply of chickens, immediately after he’s eaten the previous stock. Not a good idea.
With taxpayers of all political persuasions screaming blue murder about this bill, I’m not surprised that it failed. While it’s amusing to see Congressmen running for cover like so many cockroaches in a kitchen during a 3AM snack binge, the results are, we have an institution that is dedicated to two propositions (getting reelected and maintining the status quo) forced to face the music with voters. [Read more…] about If “Pro” is the opposite of “Con”…what is opposite of “Progress”?