The Classic Liberal Blog

Nevermind that "we the people" were overwhelmingly AGAINST this Leviathan, the House of Representatives joined the Senate today, approving a pork-laden bailout bill that could cost the taxpayers $1 trillion, completely nullifying the US Constitution, a document that the Washington Elite feels is best used to wipe their ass.

This latest scandal by Washington to fleece the American taxpayers put the final nail in the coffin.  There's no need for a funeral, because there's nothing left to honor.  Just bury the Republican party, and we'll wipe our hands clean  ... they are no different than Democrats anymore.

Oh, I can hear the arguments now ... abortion, judicial appointments, yack, yack, yack ... none of it changes the one, most fundamental fact - both parties believe in government, more than they believe in you!  We just took one small step for man, and one giant leap for socialism.

Jonathan Hoenig explains perfectly the "real deal" in the sudden need for the federal government to take-over everything.
There was a time I wrote extensively about promising sectors and stocks. I looked at companies' new products, analyzed earnings and tracked moving averages of securities big and small. I miss those days.
In recent weeks, those fundamentals have all but ceased to matter now that politicians are pulling the economy's strings. From restricting trade, such as through the short-sale ban that was just extended, to outright seizure, as was the case with AIG (AIG: 4.39*, +0.37, +9.19%), we are witnessing the biggest expansion in government power since the New Deal.
Power is precisely what the "bailout" bill, which cleared the Senate Wednesday night, is ultimately about. Uncle Sam wants even greater control over the economy, your money and your life.

Wells Fargo struck a deal to buy ailing Wachovia with no government assistance. Citigroup had been in works to buy them, but the Citigroup would have required help from FDIC.  The Citigroup deal was put together by the federal government, and would have allowed Citigroup to sell non-performing loans to the government for a profit if the $700 billion bailout was passed by Congress.
"It provides superior value compared to the previous offer to acquire only the banking operations of the company and because Wachovia shareholders will have a meaningful opportunity to participate in the growth and success of a combined Wachovia-Wells Fargo that will be one of the world's great financial services companies," ...

Well ... almost.

On Monday, in a rare show of support for the people they represent, the United States House of Representatives said "NO!" to Treasury Secretary Henry Paulson's $700 billion fleecing of the American taxpayers.

This was monumental!  Here, in "modern times," the people we sent to Washington to actually embraced the American revolutionary spirit!

The leaders of both parties, major newspapers and think tanks, the mainstream media, college professors, large corporations, and even Jim Cramer were all in cahoots to force American taxpayers to artificially support failed businesses and their wealthy executives.  But in a BOLD move, the House of Representatives said "NO!"

The Senate added some 400+ pages to the bill and passed it again last night, and the House has the opportunity again today to knock this bad deal for American taxpayers down.  Will they?  I don't know ... and I fear the worst ... but the original "NO!" vote gives us reason to celebrate, because it reminds us voters, that "we the people" can change Washington and break-up the collusion of career politicians, large corporations and the federal government.

Oh boy ... yes indeed! The politicians are going to come to the rescue!

The Washington Elite promise to save us mere peasants from "Financial Armageddon" by putting us lowly tax-paying bumpkins on the hook for another $700,000,000,000 to solve this "complicated" banking situation.

Don't you feel better now?

Me neither.

A recent Rasmussen Report tells us:
"Just 26% of American adults have even a little bit of confidence that the nation's policy makers know what they're doing when it comes to the current problems on Wall Street"

The lack of confidence is a very promising sign for America, and something the two candidates for president should take seriously.

The mainstream media always believes government is ...

This is Part 2 of my response to Terry Michael's "The Libertarian Case for Obama".  You can read Part 1 here.
"Obama is the best hope for keeping government out of your bedroom and away from your body ... the senator from Illinois represents the pro-choice, pro-gay rights side of the cultural divide. And he has at least made interesting soundings about reducing America's status as the world's number one jailer, much of which is tied to ... crimes without victims."

Terry opens with a good sales tactic - using of very broad language that  allows the reader to interpret it as they wish it to be when he states, "Obama is the best hope for keeping government out of your bedroom ...".

Let's face it ... this statement could mean almost anything!  Seriously, who wants a paramilitary police raid on your bedroom during that rare night you and your spouse are alone without the kids?