Saturday, December 27, 2008

I agree with MoveOn - stop the bailouts!

Earlier today I notice Ironman trying to cross the political divide by creating an alliance with I agree 100%.

MoveOn is circulating a petition to stop Paulson's second $350 billion installment of the $700 billion bailout:

"Not another dime for Wall Street until we understand where the previous bailout money went--and why the bailout didn't work as expected."

My only exception to this is that:

1) where the previous bailout money went and

2) why the bailout didn't work as expected

are both of little consequence to me. Before the bailout votes, I was already convinced that the Bush Billionaire Banker Bailout would fail... and that Dodd's Dubious Safeguards would also fail... leaving us - the taxpayers - on the hook for a bunch of bad decisions.

I still say NO to the additional $350 billion bailout. And though Bush will soon be gone, I hope Bush's Bernanke & Paulson and Obama's Geithner - all central figures in the bailout and the runup to the bailout - get unceremoniously removed from The Halls of Power most expeditiously.

Of course, that's just a pipedream. But hey... if MoveOn figures out what their forefather, Andrew Jackson, saw... maybe Obama will also conclude that he needs to revamp his "economic team" and his monetary policy.

Please consider clicking thru here and signing the MoveOn petition. It's a step in the right direction.

Tim White

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