September 24, 2008
The Bailout Is More Evil Than You Imagined
All of us here at Dakota have been quite undone by the events of the last few days. Expression just wasn't flowing Forgive our silence.
Naturally we've been gathering a lengthy list of links to complex economic explanations for your perusual, which you can click on in your spare time.
Here's what you really need to know about the the bailout plan.
1. The Neocons/corporatocracy knew this financial crisis was on it's way (just like they knew about the Savings and Loan Crisis, Enron and probably 9/11 ) They didn't do a damn thing to stop it, because they figured that it would be a perfectomongo Shock Doctrine moment. Isn't the timing special, just before the election?
2. This kind of crisis scares the bejesus out of most of us here on earth. Taking advantage of our adrenalized states, the corporatocracy tells us that this crisis must be be fixed immediately, no dallying for silly things like reading legislation, expert consultation or debate -- quick, before anyone has a moment to consider -- Pressure pressure pressure, lie lie lie
3. They ask for $700 billion the largest amount of money they dare, and act like this will resolve the "problem".
4. Presto! They have created a perfect plan to rob the Treasury (once again) - just in case the Republicans don't win this election -- Every man, woman and child in the USofA will each be giving $2300 directly to the folks that got us into this trouble in the first place
5. The criminals who caused the crisis will now be in charge of $700 billion with no stipulations to "dirty up" the legislation, no oversight, and no cap on bonuses for them or their friends.
7. If their mission is accomplished, money will land in all the Right (in the most literal sense) pockets, and Obama will be left with no funds to implement any program he proposed, especially the $1000 tax cut for the middle class. The under informed voter will think he's a liar and an incompetent
8. The corporate neoconservative faction will wait four years aboard their yachts, criticizing a hamstrung Obama. By then low information voters will surely "want a change" and the neoconservatives can step back into power and destroy any progress Obama has made.
We were really frosted when we figured this out.
It'll all be okay Bush sobered up enough to address the nation last night, McCain is preparing to step in and Sarah Pee is right behind him
Photo note: Out of the blue, snakes in the sky, creepy kiting
Addendum: another deep analysis
Addendum #2: Paul Krugman "My sneaking suspicion is that they started with a determination to throw money at the financial industry, and everything else is just an excuse. "
Addendum #3: Bailout could deepen crisis
Addendum #4: Campbell Brown on accountability