Deja-Vu All Over Again

The savagely wrong so-called bailout bill now passed by both houses of Congress, like the Iraq war, which is not incidental to our economic melt-down, is the worst thing we’ve done since waging the wrong war with the wrong people in the wrong way. Same crowd of fools and knaves. But this time we get to bail out the scoundrels who financed the fools into the White House. Big oil, big banks, big Wall Street liars and cheats and criminals. Bush-Cheney-McCain. This gang of three (And Sarah Palin) have now bankrupted the Republic, not easy to do, but then we’ve given them an encore. And Ronald Reagan for eight years, privatizing everything that moved. Social Security would have been privatized too, by Reagan and Bush, if the Democrats had not stopped these “fiscal conservatives” (in a pig’s eye).

The House got it right the first time. This bill, now law, with President George Bush’s authorship and signature, is a disaster for us all: Main Street, State Street, and South Temple. This law is not Adam Smith nor Lord John Maynard Keynes.. No Wealth of Nations here, no wealth of nations left. This is a bastard child of the Reagan administration, the last two years of the Clinton Administration and in that critical time, the last two years, huge mistakes by the Chairman of the Federal Reserve, a good Republican who voted for Bush though he was reappointed by Clinton. And then the fatal decade under George the Less. These crooks and liars should be tried and thrown into jail for as long as it takes to restore our Republic. In other words, when hell freezes over. Or when Envirocare/EnergySolutions ‘ so-called “depleted uranium” disappears. It has a two million years’ half-life.

This abortion of a bill protects the platinum parachutes of the super-rich, bails out the banks, insurance companies, investment companies, the Chinese, who own most of the U.S. now; the Robber Barons of the Middle East big oil states who own that part of our money not already pledged to Russia for her oil.

One David Young, president of Paragon Wealth Management in Provo, is quoted in the Salt Lake Tribune, Oct. 4, 2008, as saying this bill will do little at first, but “in the long run, it should be effective.” Wrong again, in Happy Valley. This is precisely the opposite of my own belief, at least. This will at most cause a bit of a rally for a week or so; and then we will fall deeper faster to almost total ruin.

There is blame all around: both presidential candidates and their running mates. Endorsement of both Republican and Democratic members of both Houses. It must be said, however, that George Bush had this misbegotten bill in his desk for several months before he steamrolled Congress, again, just as this worst of all presidents did in waging our very own war of aggression against a state with whom we were at peace. Way to go, Bushie.

Ed Firmage
Salt Lake City, Utah

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  1. #1 by Richard Warnick on October 5, 2008 - 8:58 am

    In two weeks, Bush and the Republicans went from (1) “the fundamentals of the economy are sound” to (2) “Great Depression II is days away unless you give us unprecedented power and unprecedented amounts of money,” to (3) “nothing is going to be done for at least a month because we need time to analyze and deliberate.”

    Politics trumps governance AGAIN in Bush Catastrophe Number Four. Why couldn’t the congressional leadership just tell them to wait until after Election Day?

  2. #2 by Leo Brown on October 5, 2008 - 12:25 pm

    We are in uncharted economic waters. It is said that the law of the Medes and the Persians could not be changed. Not so with what Congress passes. After January, there will be some changes made. The direction of those changes will depend on the results in November. This was an imperfect bill, but the gears of the economy were beginning to freeze up, and I, for one, wasn’t comfortable with waiting for a new Congress and a new President while lending gradually stopped and bank after bank went under. At least we didn’t get the original proposal, which gave unchecked power to Secretary Paulson.

  3. #3 by Frank Staheli on October 5, 2008 - 6:57 pm

    Ed,

    I appreciate other wise authors besides yourself, such as William Greider and Kevin Phillips who point out that this is the illegitimate child of both major political parties. I have written on Simple Utah Mormon Politics that it ought to be a field day for many voters next month when the only thing they need to know is that their senator or congressperson voted for this monstrosity that primarily serves those who caused the problem–the rich.

    Richard,

    Naomi Wolf makes the same observation about the Bush admin switching from “economy is sound” to “mayday, mayday” in one fell swoop. You can watch it here.

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