Thursday, September 25, 2008

What’s the Rush, Bush?

None of us wants a crash, but let’s do this thing correctly!
by Charlie Leck

I don’t remember who said it recently. Someone in Congress! “Let’s do this thing correctly so that it doesn’t come back to us needing fixing!” That sounds like Dodd of Connecticut. Probably was!

This is one of the craziest things in my life time. The President of the U.S. has warned us of “a financial doomsday” as one talking head just said from the TV. He put a Friday deadline on things. Why? He hints that the market might collapse at closing time on Friday if Congress hasn’t done something! Or, that it won’t open on Monday unless Congress acts.

Actually, Bush is trying a full-court press, hoping the opposition will panic and throw up a bad shot in the closing moments of his presidency and in its campaign to unseat his party. Nice move, George, but the opposing team just called a time-out and went to the sidelines to talk about your bold move.


A regular reader in Denver wants to know why I’m so silent on this. I thought I indicated he said all that needed to be said in his note yesterday. He expands on that this morning.
Bush is using his fear politics again... This time I’m with the right wing Republicans who are against this bail out... What we need is time, which is just what George wants to scare us out of... “Sign now, worry later!" Private money is starting to go into the market (like Buffet)... if it takes federal money, which it probably will, let's go slowly... By funding the bailout now, it will push back private money... and if we can buy equity instead of bad debt, we’ll all be better off... Why can't we take the time necessary?

Where was the fed a month ago? – ‘The fundamentals are strong!" Where was Paulson? "We're not in a recession!" Did they all just wake up to a bomb exploding that they didn't have any idea about?

Do you know what's the hurry? By moving slowly, we assure the global market that we will act with judgment, not panic....

I'd really like to hear what you have to've been strangely silent on this...
Fred, Go back and the read the paragraph above that begins with “Actually, Bush is…..” and you’ll have your answer. No contemplative body is going to sign on to this as Paulson had it written up! Do they think we’re crazy?

Right wing! Left wing! Those in the center! On this one I think they’ll be together – at least in terms of thinking it through. There will be plenty of differences among them in the end, but something better than the Paulson document will come out of this as a result of the debate. That’s the way the nation is supposed to work things through. Fred, we learned this together from Mrs. Havens. It’s been over 50 years since we sat in her classroom, but the woman, now residing among the stars, made sense. “Conscientious debate without the trimmings of politics makes for good legislation!” It doesn’t happen often. This time it must.

George W. Bush has just been pulled from the game. His full-court press didn’t work. The other team failed to cave! This play is crucial. They’ve got to get it right!


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