| rationalpassion ( @ 2008-09-29 19:52:00 |
There is always the chance--and our political and economic "experts" passionately hope this will happen--that the American people will swallow this nonsense if the stock market falls enough. Thus far, however:
"A colleague here at the Hoover Institution spoke recently with a senior, and Democratic, member of the California congressional delegation. In the last week, she said, her office had received roughly 15,000 telephone calls, letters, and emails. How many favored the bailout?
"Ten."
Keep it up, America! Details on how to reach your representatives--something that seems impossible at the moment given the massive anti-bailout response inundating Washington--are here. I've said that this bailout is ultimately unstoppable. I still fear that is the case. We'll see.
UPDATE: There's an interesting discussion in the comments about who's pushing the bailout and who's opposing it and the motivations of supporters and opponents. Clearly, there are both good and bad reasons to oppose the bailout. In said comments, noumenalself writes:
"I think (but I may be wrong) that this may be one of the rare cases where the left and the right really can agree at an important concrete level. The left is opposed to the bill because it will bail out *the capitalists*. We're opposed to it because it will *bail out* the capitalists. Merely a difference of emphasis? Truth be told, I'm more inclined to believe left-wing conspiracy theories on topics like this than on anything else. I would not be surprised it a great deal of the scaremongering is being pushed by the very business interests who stand to gain the most from a bailout."
As a former German Communist once said, the problem with capitalism is capitalists; the problem with socialism is socialism.