Posted by politicalpartypooper on December 14, 2008

On Friday, December 5th, Nancy Pelosi and Harry Reid sent to the White house not a bill, but a letter.  In that letter, they begged President Bush to let them off the hook by using the TARP funds to bail out GM, Chrysler, and Ford.  They believed so strongly in Detroit’s need for instant cash that they went right around Due Process, and instead, passed the buck to a President who by now, shouldn’t care how bad his legacy looks.  President Bush should just be thankful that America isn’t Rome, where they used to wipe out every mention of a disgraced person’s history.  Or, maybe he should wish we were Rome, in which case no one would ever know he had once “served” as President for eight years.

Alas, we live in America, and Bush will have a legacy; one that not even a million freshly bathed infants all dressed in white can make appear clean.

So we have Pelosi and Reid passing the buck in a letter, and then we have Bush apparently saying “Nice try, no dice!”  Ball is back in Congress’ court.  So, they do what they should have done in the first place; pass a bill on to the Senate.

Here’s where politics gets nasty.  The Republicans refuse to play ball, and some of them openly want to bust the autoworker’s union.  Of course, some of the Democrats want to openly reward the autoworker’s union, so there’s really nothing new there.  End result?  Another request made of George Bush and the White House to please, pretty, pretty please, use some of the TARP Money to bail out the Big Three.

Sidebar:  The acronym TARP is fitting.  Normally, one would use a tarp to cover something up.  Our elected officials have done the same with the bailout money.  Excellent.

The Senate rejection of the Big Three Bailout is nothing more than politics.  The Republicans in the Senate no longer care about the Bush legacy, nor should they.  But in placing the onus for the use of TARP money back in Bush’s hands, they did exactly what they accused Democrat leaders of doing; passing the buck.

A lame duck President should receive more respect than this, unless, of course, you’ve earned the disrespect.  I think it’s safe to say President Bsh has earned it.  It’s time for him to swallow the bitter pill, give the Automakers the money, and allow the Obama administration at least a fighting chance at turning this economy around.

Politics are useless, and politcians are even more useless, because they are slaves to a useless thing.  This is a slam dunk.  You give our largest manufacturers money, and force them to reorganize their business model in an organized bankruptcy.  Government regulates the bankruptcy and makes certain that the automaker’s suppliers get paid before anyone else.

Several further bits of new legislation need to be enacted.  It’s time to outlaw Adjustable Rate Mortgages.  We should also think about a fixed minimum FICO score for mortgage qualification, as well as a fixed, unchanging, interest rate for all Home Mortgages.  Too many times, when interest rates have fallen too low, Wall Street has gotten greedy, trying to find different (and silly) ways to take advantage of free money.  It’s time to end the temptation to do “stupid”.


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