Not So Fast, Nancy
As a general rule anything Congress produces fast and on the fly is terrible legislation. As the Patriot Act so aptly demonstrates, out of nowhere vast powers and discretion were handed over without any deliberative thought or legislative processes at all. Legislation needs time to craft carefully, yet the panicked Bush administration is demanding what possibly could be a trillion dollars worth of legislation in just the next few days to save the global financial industry.
My alarm and dismay only grows each hour looking back at possibly the most sorry and disgraceful Democratic Congressional leadership the Party has ever helmed in the history of the Republic. Any reader who wishes to disagree need only look to the offshore drilling capitulation of only nine days ago, a virulently putrid act of weakness in the face of the most chumpish and stupid political bullying I have ever seen.
The whole political and ideological structure of conservatism lies in total ruins before us. Vast amounts of money and policy are at stake in somehow trying to clean up the incredible stinking mess, yet Bush and the Republicans are demanding all of the money to let their market philosophy off the hook without any new rules or safeguards in place, just hand over all of the dough now.
Now is not the time to argue how we got here, right, how convenient that if we don’t hand over our future for the next term you’ll put a gun to our head and say the world financial system will crash. Y’all said Saddam was the greatest threat ever, why should I believe you now?
Given the extraordinary events of the last week I can be convinced something must be done, but I’ll never be convinced that anything needs to be done in the next seven days. Forget it.
There is no way at all that confidence can be restored with cash forthcoming in sixty days? The reputation and credit of the United States cannot somehow be mechanized in some modern financial way that spits out some cash in thirty days? No? I see, I believe you again, see what you get by telling lie after lie, George Bush? No money.
Here is a great chance for Pelosi and Reid to re-assert Congressional authority and relevance, they don’t have to obstruct, not in the least, just not be lead by the nose to slam the little people with no accountability and no financial environment change moving forward. If in fact some huge bailout happens in the next forty-eight hours we can be precisely sure that has in fact happened.