White House says bailout is simply a money grab by financiers--or even more sinister
In a press conference today, White House Press Secretary Tony Fratto inadvertently (or with the ultimate in stupid hubris--you make the call!) let us all know that this bailout is really about giving away even more of the taxpayers' money to the financial industry. The money quote:
"You have to remember, these are not all weak or troubled firms that own mortgage-backed securities. A lot of them are very successful banks and investment houses that have done very well, have been responsible, are holding performing assets that have value."
Um, Tony? Why on earth would we need to bail out firms that aren't "weak or troubled" or that have "done very well"? Clearly necessity is not the main criteria under consideration, is it? Perhaps it is instead the final Smirky Administration payoff to the rich?
Even more likely is that the felons are attempting to rig the economy (even worse than they have already, that is) to go 100% in the tank just in time for the Obama Administration to take over. Once again, Democrats will be left with cleaning up Republican disasters, only this time with little or no money to do so without cutting spending on valuable services. Grover Norquist, who famously declared that his goal was to shrink government to the size where he could drown it in a bathtub, would get to have his dream come true; Smirky and the gang are merely creating the new twist of further enriching the wealthy as it dies.
Twisted indeed.
"You have to remember, these are not all weak or troubled firms that own mortgage-backed securities. A lot of them are very successful banks and investment houses that have done very well, have been responsible, are holding performing assets that have value."
Um, Tony? Why on earth would we need to bail out firms that aren't "weak or troubled" or that have "done very well"? Clearly necessity is not the main criteria under consideration, is it? Perhaps it is instead the final Smirky Administration payoff to the rich?
Even more likely is that the felons are attempting to rig the economy (even worse than they have already, that is) to go 100% in the tank just in time for the Obama Administration to take over. Once again, Democrats will be left with cleaning up Republican disasters, only this time with little or no money to do so without cutting spending on valuable services. Grover Norquist, who famously declared that his goal was to shrink government to the size where he could drown it in a bathtub, would get to have his dream come true; Smirky and the gang are merely creating the new twist of further enriching the wealthy as it dies.
Twisted indeed.
Labels: financial bailout, Tony Fratto
posted by bryduck at 12:53 PM
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