Wednesday, September 24, 2008

Gotta Love Brooks

I have to admit, David Brooks' column yesterday floored me. Discussing the bailout plan for the financial industry, he says:

It does not rely on any system of checks and balances, but on the wisdom and public spiritedness of those in charge [Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke]. It offers succor to the investment banks that contributed to this mess and will burn through large piles of public money. But in exchange, it promises to restore confidence. [...] The country ... will turn to the safe heads of the investment banks. [...] Government activism will provide support to corporations, banks and business and will be used to shore up the stable conditions they need to thrive. [...] We're entering an era of the educated establishment, in which government acts to create a stable -- and often oligarchic-- framework for capitalist endeavor.

The "wisdom and public spiritedness of those in charge"?!? "Succor to the investment banks that contributed to this mess"?!?

Where's the relief for the thousands of Americans who are in danger of losing their homes? Sure, a lot of them were suckered in by immoral, lying bastards from companies like Countrywide, and conned into taking out mortgages they couldn't possibly afford, but what about the little guy?

Oh, wait... under the current administration -- and most likely under the potential administration of McSame and the MILF -- the little guy doesn't count. Only the rich and powerful count and are worthy of salvation.

Amazing how activist governments are a Bad Thing... until you need one to bail out your richie-rich friends.

Badtux, by the way, has a very good explanation of the technical points of the bailout plan; unlike those promulgated by the economists (on either side), his is easy to understand.

On a semi-related matter, today's Portland Press Herald has an editorial saying it's time for the undecided voters to wake up and start thinking about who will be the next President. It seems to me that Brooks' column should show the little guy where his vote should go.

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