UPDATE: Oh. And, George Soros has decided that Henry Paulson’s bailout plan wasn’t bad enough. So, he has offered his advice on how to further nationalize the private sector.
Soros also believes the government should take direct action to shore up the ailing housing market.
The Paulson plan “addresses only one half of the underlying problem — the lack of credit availability,” he wrote.
And, according to Bill Clinton, deregulation is not to blame for the financial situation in the U.S.
Former President Bill Clinton says deregulation of financial institutions is not to blame for the mortgage market mess.
Clinton was asked in an interview if he regretted signing legislation in 1999 that repealed the Glass-Steagall Act of 1933, which had separated commercial and investment banking.
Oh. And, Hillary Rodham Clinton is ready to lead the way on the boondoggle bailout in the Senate.
“I certainly would support the Senate going first, so long as we have the votes … as early as tomorrow if that’s what would make this process successful,” Clinton told reporters by phone Tuesday.
Oh! Oh! And, the FDIC wants “unlimited borrowing authority from the Treasury Department.” 😯
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This whole thing reminds me of raising the shamnesty tactics from the ashes to brush them off and give it another try. So much for the anti-bailout Republicans and Democrats in the House the other day that beat back the bailout attempt there. We survived the carnage all of the dooms day prophets were predicting, if we didn’t pump close to a trillion dollars into the private sector to nationalize it. I wonder when GWB is going to get it. Very few in D.C. seem to be able to keep things in perspective.
Better get on the horn to your senators: 202-224-3121. Don’t bother trying to e-mail them. You won’t get through. 🙄
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