Monday, September 22, 2008

Who'd a-thunk it? Potentially ruinous bailout not so popular after all

Posted By on Mon, Sep 22, 2008 at 12:28 PM

It appears that Treasury Secretary Henry "Show Me The Money" Paulson's plan to bail out the U.S. financial system with an unconditional, unsupervised blank check for $700 billion is unpopular everywhere except in the Bush administration and (surprise) the lapdog mainstream press. Arguments against the bailout -- which would be the biggest giveaway of taxpayer money in human history -- are coming from both the left and the right. Take, for example, these two "quotes of the day" from two NY Times columnists, one liberal and one very conservative:

"Basically, after having spent a year and a half telling everyone that things were under control, the Bush administration says that the sky is falling, and that to save the world we have to do exactly what it says now now now." — Paul Krugman.

"I've been shocked by the number of (mostly conservative) experts I've spoken with who aren't at all confident that the Bush administration has even the basics right — or who think that the plan, though it looks simple on paper, will prove to be a nightmare in practice." — Bill Kristol.

Never fear, though, dear readers, I'm sure we're in good hands. Aren't you?

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