Great article on the financial bailout boondoggle by Tom Blumer over at Pajamas Media.
From “Bailout Saga Proves that Elites Don’t Care What We Think”;
In mid-September, when it became clear to Hank Paulson, Ben Bernanke, and George Bush that extraordinary measures were needed to address the mess that had built up in the financial markets during the past decade or so, their first instincts should have been to say:
- “We need to have a complete plan to deal with this.”
- “We need to make a case to Congress and the American people that our plan will work.”
They did neither of these things; nor did they even seem to consider whether what they wanted was even constitutional.
Instead, they in essence demanded that Congress and the American people give them a blank check, saying, “Do this, or else.” Last Sunday, I called it blackmail. I stand by that.
Read the whole thing here.