dr.doolittle

When Stabilization Isn't Stimulus

Great Stuff! The cat's out of popularity bag on this one! This is to the Democrats what Iraq was to the Republicans, and the Dem's (and a few Republicans) know it. Obviously taking equity stakes in banks can be understood and measured as success/failure in a way rescuing the mortage market could never be (and don't we already have fannie and freddie you dumb ass socialist from Clevland?) In that sense it's an "understandable" use of taxpayer dollars. Is it a good use, though? Now the bailout demands are coming from all corners of the economy! Here's the problem with calling it a "Stabilization Plan." Doesn't that imply our banks are unstable? Are they? What does Kaskari know that nobody else does? Why should I buy a bank stock when the government who is giving them money says they're in trouble? My approach would be far simpler and in the words of Henry Kissinger "happen to be true" as well--we're giving money to perfectly healthy banks not because they need it but because we're creating a certainty of mega-winners once the dust settles on this one. Sure, a bunch of clowns from Chicago have taken over the executive branch in Washington, but New York is taking over the entire federal bureacracy lock, stock and barrel. Now if only the Dems would proceed to lose the war you could then see NYC actually run the place.