The other bailout
Cheers to Barack Obama for continuing to push for Friday's televised presidential debate despite John McCain rather laughably trying to back out due to recent crises in the country's financial industry. Obama is right that presidents are forced to "deal with more than one thing at a time," and that it's a vitally-important time to hear from the candidates.I would suggest then that Obama take the opportunity on Friday to debate Ralph Nader and Cynthia McKinney on television, something he has otherwise steadfastly and cowardly refused to do. The networks have already cleared their programming schedules for that evening, Obama would have the unique opportunity he's been waiting for to show the American people how "moderate" he is, and with McCain absent, corporate sponsors would only have to spring for one extra podium.
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As a wise person once observed-- there are no atheists in a foxhole, and there are no capitalists in a financial crisis. Wall Street socialism is alive and well. AIG gets $85 million in taxpayer handouts, Bear Stearns got $29 million, and now another $700 billion (with no strings attached) is about to be broken loose from the national piggy bank if President Bush's treasury secretary gets his way. John McCain and Barack Obama have both promised they'll work in a "bipartisan" fashion to arrive at a solution to recent financial problems, and heaven knows that approach has worked out great up to this point.
The current financial crisis should inspire Americans to cut the cord on both Democrats and Republicans. If ever there was a national disaster that was not only presided over, but instigated by 'bipartisan' action in Washington, this here's it. Both parties turned their backs on industry regulation and Congressional oversight of the markets. Lawmakers up and down both party rosters have accepted campaign bribes from the crooks and greedy speculators. The millionaire bosses at Fannie Mae and Freddie Mac were appointees from both Democratic and Republican administrations.
The issue on everyone's mind at the moment should be campaign finance reform. According to Zogby, 82% of Americans believe that political parties, presidential and Congressional candidates should be banned from receiving financial contributions from lobbyists or "other representatives from those industries that are vital to the financial and national security of the country." What do you have to say, fellow taxpayers? How about if we pony up $2 billion annually for full public financing of Congressional and presidential elections and put the $700 billion back in our pockets?
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Where is the justice system's sense of proportion? Eighteen New York baseball fans have been arrested this week for "possession of stolen property" following the last-ever game played at historic Yankee Stadium on Sunday-- but team officials remain loose on the streets despite looting as much as $826 million in taxpayer subsidies for the construction of the replacement park.
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Entirely unrelated, the St. Louis Cardinals finished 9-4 in World Series games played at Yankee Stadium.
posted by CM @ 9:32 PM
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