A READER AT A MAJOR NEWSROOM EMAILS: "Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working." I asked permission to reprint without attribution and it was granted.
Over the last few days (and probably a few upcoming days as well), people have been wanting to get in touch with their elected Officials in Washington.
I've added a helpful link to the "Heavy Hitters" section of my blogroll, and offer a link here as well. Simply type in your ZIP code, and the website will return all of your folks in DC, as well as high-ranking State Officials. In addition to providing Congressional/Senatorial e-mail address and phone numbers, the site also offers details on recent voting records, positions, Interest Group "rankings", etc. Pretty helpful site all-around.
Those words coming from one of 95 Democrats that voted against the Bailout Bill. Keep in mind that only 12 more votes were needed to pass the legislation. So if you only need 12 votes, the Republicans won't support it, and you have 95 members of your own Party saying "no", wouldn't it be a sign of strong leadership if the powerful Speaker of the House could get those 12 votes?
I guess it speaks to the "leadership" of Nancy Pelosi that she couldn't get 12 members of her own Party to cross over.
(for the record, 95 Democrats represent 40% of the Democrat population in the House.)
The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government.
The obvious alternative to a bailout is letting troubled financial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company.
Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airlines). Bankruptcy punishes those who took excessive risks while preserving those aspects of a businesses that remain profitable.
In contrast, a bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources.
Hopefully, the McCain Camp makes a daily stop to WAMK. They must read it from time to time, what with the selection of Sarah Palin as McCain's running mate.
Basically, Senator, you owe me one. The pick of Ms. Palin was a brilliant one, and you did well to listen to the braintrust at WAMK World HQ. Now it's time to go all in. I offered advice to McCain before his debate on Friday, and he listened to some of it, but not all. Here's your chance to score big, Sarah. Here are the talking points you need to include in your debate with Senator Gaffe on Thursday. Don't worry about nuancing them, just repeat as written, and you'll do just fine.
1. The Bailout. It was an attempt by the Democrat leadership in the House to throw away good money after bad. How can you tell it was bad legislation? Harry Reid and Nancy Pelosi stood arm-in-arm with President Bush on this one. When in the last 8 years have we seen that happen? How can you tell it was bad legislation? The House Democrats have a majority. They didn't need one single Republican vote to pass the bailout. And yet 95 House democrats went over to the Republican side against the bailout. They knew it was bad, why doesn't the House Leadership?
2. How to pay for the programs and services needed? When asked (several times, I might add) during Friday's debate "What programs/promises would you cut to pay for the $700 billion bailout?", Barack Obama couldn't come up with one. In fact, he started talking about a whole wave of new entitlement programs, that would cost more taxpayer money. Remember when Nancy Pelosi said this would be a "Pay-as-you-go" Congress? What happened to that, Ms. Pelosi?
3. What caused this whole mess? Sarah, feel free to reference WAMK as a place for folks to come get educated. Make sure to mention the name of Barney Frank as much as possible. Make sure to reference the numerous YouTube clips out there, showing how Mr. Frank said that Fannie and Freddie were in great shape. Toss in Chris Dodd's name, and Franklin Raines as well.
4. Basically, do what John McCain was scared to do: take off the gloves, name names, and show what Democrat control over two of the three bodies of Government in Washington were able to (not) accomplish. Then look into the camera, and ask the American People if they want those same Democrats to control all three branches.
The table is set for you, Ms. Palin. All you have to do is be you. Channel Dick Cheney, when he smacked John Edwards right between the eyes. There was no "soundbite moment" from the first Presidential Debate. Make sure you get a few to make up for it.