The Discerning Texan
All that is necessary for evil to triumph, is for good men to do nothing.
-- Edmund Burke
-- Edmund Burke
Monday, September 29, 2008
WHOA--PELOSI GAVE KEY DEMS A PASS ON BAILOUT VOTE
As I was opining earlier... Pelosi did not want this to succeed. I heard Gingrich predict tonight that Pelosi will load up the "revisited" bill with lots of earmarks and pork to buy off more Democrat votes. ACORN, Unions, etc... Yeah, that'll fix the problem.
However Gingrich did have a suggestion on Fox tonight that would almost instantly free up the markets before these beasts consider another bill: the Secretary of the Treasury can experiment with relaxing the spectacularly stupid Mark to Market accounting scheme. Gingrich thinks he should do it tomorrow morning, because it would work and because Congress could not do a damn thing about it. Gingrich issued this challenge to Paulson and Cox: just try it for two weeks. If it works--if it frees up the world's credit as most people believe it will--then keep it in place. If the markets continue to tank, then you can always reinstate the (arcane and divorced from reality) rules.
But if the markets do heat up, the Republicans are in a much stronger position to demand what they want in any bailout bill--and the Dems would really be walking the plank to do something stupid without them. Makes sense to me.
However Gingrich did have a suggestion on Fox tonight that would almost instantly free up the markets before these beasts consider another bill: the Secretary of the Treasury can experiment with relaxing the spectacularly stupid Mark to Market accounting scheme. Gingrich thinks he should do it tomorrow morning, because it would work and because Congress could not do a damn thing about it. Gingrich issued this challenge to Paulson and Cox: just try it for two weeks. If it works--if it frees up the world's credit as most people believe it will--then keep it in place. If the markets continue to tank, then you can always reinstate the (arcane and divorced from reality) rules.
But if the markets do heat up, the Republicans are in a much stronger position to demand what they want in any bailout bill--and the Dems would really be walking the plank to do something stupid without them. Makes sense to me.
