I had a brief opportunity to surf a few blogs this morning and found Sam Friedman posted an excellent piece on the rescue plan. It has become a political disaster as well as a financial one as Sam well pointed out in his Wednesday blog entry.
IMHO this battle in reality is one for the soul of the Republican party. Whatever faction wins out will be faced with picking up the pieces from the disaster George Bush inflicted on the party.
With Congress demonstrating a lack of brains, a heart and courage in its gross mishandling of the credit crisis, and with President George W. Bush reduced to a powerless humbug, Washington is starting to resemble the characters from “The Wizard Of Oz,” rather than living up to the the hopes and dreams of the Founding Fathers who set up this great republic. It’s time for more dramatic action, and insurance lobbyists can help.
Instead of leading this nation in a time of crisis, Congress has behaved like a bunch of frightened children, cowering as the phones ring and the e-mails pour in decrying the “bailout of Wall Street.” Continue reading “Sam Friedman on the Rescue/Bailout”