Ed Driscoll

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They Could Do Worse — And Will

May 6, 2009 - 5:47 pm - by Ed Driscoll

Hugh Hewitt writes:

So there’s going to be a Commission on the financial meltdown, and it is stacked 6-4 (unlike the 9/11 Commission which was evenly split.

No doubt the GOP will nominate very polite, very ineffective members who will hire very polite, very ineffective lead counsels.  Thus it has ever been and so it will be again.

I nominate myself for the Commission.  Unlike almost every other Commission member in the history of Commissions, I know how to ask a series of questions, and to ask again and again until they are answered.

UPDATE: E-mails are asking how they support my appointment to the Commission.  Just call GOP House Leader John Boehner or GOP Senate Leader McConnell, or both.  202-225-3121.

Meanwhile, regarding the meltdown that’s occurring in a specific sector of the economy, Obama sends his regards to his most valuable constituents in 2008: “Robert Gibbs: No Newspaper Bailout.” Yeah, that’ll cause the slobbering love affair to end!

(Around 2013 or 2017…)

Filed under: Capitalism, the Unknown Ideal, Oh, That Liberal Media!

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1 Comments, 1 Threads, 2 Trackbacks

  1. 1. Andrew_M_Garland

    The government found a way to spend as much as it wanted, by guaranteeing the debts of the off-budget government agencies (GSEs) Fannie Mae and Freddie Mac. The GSE’s provided highly paid, prestigious positions for a stream of government elite.

    The beauty of a guarantee is that it seems to involve no money, and need not be budgeted by the government. Eventually, there is a sudden need to pay out billions when you find that the guaranteed parties have borrowed at low interest rates and can’t pay anything back. The unexpected disaster was that building too many houses wrecked the market value of housing, to the surprise of left-leaning economists and politicians.

    The current bailouts and huge budgets continue to serve the self-interest of politicians and government aligned groups. The government continues to leverage its ability to use guarantees, to borrow what it wants by guaranteeing repayment. It couldn’t possibly do this if it had to raise the money immediately through taxes. It won’t be able to raise the full amounts through taxes, even in the future. The result will be high taxes AND inflation.

    We Guarantee It
    The government is guaranteeing us into poverty.

    May 6, 2009 - 9:39 pm   Link to this Comment

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