Sunday, October 12, 2008

Paulson And GOP House Ideologues Helped Screw McCain AND The Economy

You'll find an interesting discussion here from The NY Times website about Treasury Secretary Paulson's failure to find a buyer for Lehman Bros. or otherwise rescue it.

That sent a signal to the markets that to make a textbook philosphical point, the Bush administration would let that huge Wall Street banking institution fail and trip off collateral financial and employment damage that is still continuing.

Add in the House Republicans' ideological walkout on Bailout/Rescue I, a moment of historic weakness.

It further told stock traders and international financiers that powerful US politicians weren't up to the task - - the market closed down 777 points on the Monday following the GOP retreat - - so it's fair to lay much of the continuing meltdown at the GOP's doorstep.

Bush and the far right sandbagged candidate John McCain eight years ago in the primaries and now those ideologues are screwing him again, along with the rest of the country.

If that's what conservatism is all about, particularly when it gets its hands on the levers of power, pleasee bring on the liberal alternative.

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