Tonight the Senate passed 74 – 25 an $ 850 billion bailout bill, $ 700 billion for the bailout of Wall Street fat cats and $ 150 billion in tax extensions. They should be ashamed of themselves. I hope the House does not pass this bill and there is a good chance they will not because all members of the House are up for re-election compared to a third of the Senate. Wanna bet that most of the Senators that voted against the bill are up for re-election? The question is, why was a bailout bill needed? What the heck got us so far up the creek without the proverbial paddle? The answer is very simple, democrats and their liberal social engineering programs are to blame.
Since last Wednesday democrats in Congress have been successfully blaming republicans in Congress and President Bush’s administration for the economic mess the country is in. Of course the Mainstream Media (MSM) siding with democrats has a lot do do with their success as the MSM has parroted verbatim their talking points, adding flourishes where necessary. What else is new.
Watch what Speaker of the House Nancy Pelosi said blaming republicans and President Bush’s administration before the failed House vote on the bailout a few days ago:
This is the press conference given by republicans after the failed House vote:
To be fair President Bush does have some responsibility because he is the guy in charge and the buck stops with him but since 2001 he had tried to stop the then looming disaster. Republicans in both the House and Senate also share some of the blame because they did not raise the issue as often and loud as they should have but were blocked from doing anything about it in 2001, 2003, 2005, 2006, 2007 and in 2008 by democrats. But let’s remember that it is democrats that share almost all of the blame because they gave birth to the whole mess by forcing banks, starting in 1977, to give loans to people not qualified to receive loans by passing the Community Reinvestment Act. Those sub-prime loans were given mostly to minorities in poor areas. Then democrats stopped cold anyone from changing the system they had set up once Fannie Mae and Freddie Mac became involved. Here is a link to a post I wrote yesterday about the connection.
Below is a video about a “housing rights organization” named ACORN that provides housing to poor minorities. ACORN has received millions upon millions of dollars from the government thanks to democrat largesse and the video will give you an idea about why democrats give these groups so much money:
An interesting discussion about ACORN on the Hannity & Colmes show on Fox News some days ago:
How did democrats get away with it? By threatening anyone that started or wanted to complain or raise their voice that they would be called racists. Who would dare deny loans or mortages to minorities? Only racists and bigots still living in the Jim Crow era would be so cruel. Simple, no?
Now the truth about the origins of the financial crisis is beginning to come out on cable news, radio talk and the Internet. No matter what democrats and the MSM do to try to stop its dissemination, little by little, day by day it worms its way into mainstream American thought.