I could be wrong, but the sense I got from the hearing is that the bailout is a foregone conclusion, and at this point its just a matter of working out the details. Congress doesn’t have the guts to do nothing, because they don’t understand what’s going on and they don’t want to be blamed for a depression if the doomsday warnings of Paulson and Bernanke prove accurate. They also know that they’ll have a lot of constituents who will be mad as hell about the idea of aiding big banks that made poor investments. So, by grilling Paulson and putting on a show for the cameras and making him work for the money, they’ll be able to say that they didn’t simply fork over the $700 billion, no questions asked. And Democrats will fight for concessions — oversight, executive compensation restrictions, homeowner relief — that they can use to justify their vote for the plan. But the language the Senators used in their questioning gave off the general impression that everybody is assuming some sort of bailout package will be happening within the next week.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?