Ovid (publius_ovidius) wrote,
Ovid
publius_ovidius

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I Hypocrited teh Economies! (*burp*)

As you're probably aware, the economic struggles and John McCain's role in deregulating the financial information have given Barack Obama a strong boost in the polls. The latest ones I'm reading give him an 8 to 10 point lead over McCain. Much of the public perception seems to be that McCain has flailed and responded poorly while Obama has remained calm and laid out a plan that consumers are more comfortable with. If the economy stabilizes, this might not hurt McCain too much. We're awfully fickle.

But lets think about the Republican response to the crisis: OMGWTFBBQ! Bail out! Give these companies tons of tax payer money! This puts us in the curious position where the companies companies get support, tax payers foot the bill, but if the companies fail, the tax payers don't get the same guarantees that the financial companies do. So let's lookat the 2008 Republican Party Platform (emphasis mine):

We support energetic federal investigation and, where appropriate, prosecution of criminal wrongdoing in the mortgage industry and investment sector. We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all.

Um, excuse me? "We do not support government bailouts of private institutions"? That's not only what the hell you've been doing for a few weeks now, but your 700 billion dollar bailout plan is exactly that and with one nightmarish qualification in section 8:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

No review by court of law for the 700 billion dollar bailout that your party platform officially objects to? Fuck you, politicians. It's time to think about the American people for a change, not just the corporations.

Tags: politics
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