All I'm saying is that Sarah Palin's youngest child knows more about economics than this guy.
I particularly enjoyed the part where he devoted a third of the speech to 'explaining' how we got into this 'crisis', by letting all that naughty foreign money flood our banking industry. As if he wasn't the cause of most of those Chinese loans. And he seems to have completely forgotten how the federal government made it nearly impossible for lenders to get loans without lending to insanely risky applicants (I'll use the euphemism 'poor people'). And when he talked about low interest rates contributing to the run up of housing prices, isn't it odd he didn't say "my bad" since his post 9/11 economic policy insisted on a monetary policy looser than Ashley Dupre.
And then he had the gall to suggest that we are probably going to get most of this money back... As if when that miracle occurred, the tax increases the next president will inevitably call for (to pay for this massive government buyout of private industry) would magically go away. I haven't laughed that hard in ages.
Any time the federal government tries to convince you that something is benevolent and wise, ask yourself when was the last time you used those words to describe the President or the United States Congress.
The truth is that they want to save these precious lending programs so that no on notices that it's the fault of the federal government and it's never ending desire to engineer a Utopian, Government Addicted Society, that drove us into this mess in the first place. What's more, if you are placated by thoughts of CEO's losing their enormous salaries over this bailout, remember that most will jump ship before the board of directors ever gets close to this deal. This is the most expensive cover up of government mismanagement in recent history and they are disguising it as an indictment of the free market system they abandoned in the process. The fact that the United States Congress thinks that this is the time to put our money and our faith in them and the FED, when they caused this problem is the most appalling insult we have seen from those scumbags in years. If you had an employee and he set your office building on fire while raping your daughter... Would you hire him to rebuild the place?
Just remember this nightmare in November and Vote 3rd Party, these assholes have had enough second chances, it's time for them to leave. Don't throw your vote away on these corporate whores. Don't vote for a Party, vote for your country.