I can’t help but notice some chilling similarities between the Bush Administration’s approach on the financial crisis and the Iraqi War Resolution. I literally sat awake until almost 5:00 this morning fretting about this.
Let’s look at a few of them:
- We were told that calamity was imminent, and a failure to act and do exactly what Bush asked of us would result in a disaster;
- Congress was strongarmed into doing something big and something fast, without time for proper analysis;
- We were conned into spending hundreds of billions of our hard-earned dollars (much for the benefit of corporate malfeasants) – only to take a giant step backward;
- We handed legal immunity and absolute control to the very authorities who demanded the actions;
- We were lied to every step of the way.
And eventually the majority came around to see it as a colossal blunder. So, I think Congress would serve itself and the People well if it took a much more measured approach to this, or even refused the bailout. I know, I’m asking for cajones of steel here, but I can dream.
If this goes through, it will be the swindle of the century.
I’ll close with a few words from President Franklin Delano Roosevelt:
“The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That is fascism; ownership of government by an individual, by a group, or by any other controlling private power.”
How did we get here? Is it too late to stop it?