What Crisis? Dow Posts Third Biggest Gain Ever - Most Americans Don’t See the Sky Falling

September 30, 2008 by Pelikan
Filed under: Bush Foreign Policy, George W. Bush, Terrorism, U.S. Congress, U.S. Economy, U.S. Financial Crisis 

Look, I know the stock market isn’t “the economy.”  But days like this will make it all the more difficult for Washington’s politicians to convince voters that $700 billion should be staked to bailout Wall Street’s financiers.

I was in a meeting today previewing a presentation I developed to communicate with a group of people over a thorny issue.  At one point, a colleague said to me, “Pelikan, you’re gonna like this.”

“Are we trying to educate or notify? This first part is good - you’re educating, but then you move to notifying.”

My colleague knew I’d like that feedback because she said she heard a political pundit using the same language to describe how the Bush Administration failed to get public support for the bailout.

I don’t know where she heard that analysis, but it’s good.  I still have yet to discuss this whole “crisis” with more than a couple of people who are four-square behind it. 

I think that pundit was right.  Henry Paulson said just in the last couple of months that the issues in the credit and banking system were “manageable.”  Then all of a sudden there’s a plan to make him king of the financial mountain.

There’s another reason why regular folks are skeptical.  It’s the rush.  The Bush Administration has a very poor record when it comes to public policy decisions hastily rammed down their collective throat:

  1. WMD & Al-Qaeda running rampant in Iraq - There were no WMD and Al-Qaeda didn’t exist in Iraq until we destabilized the country.
  2. Patriot Act - Constitution shredded
  3. U.S. Official Torture Policy - Thanks to Dick Cheney, David Addington and John Yoo, Constitution shredded, treaties pissed on, FBI and Dept of Defense ignored, innocent people tortured along with bad guys who were tortured and gave erroneous information, Amerian moral authority erroded.

Now, 30 days before a presidential election, with less than a week to consider the problem, the Bush Administration wants to fork over $700 billion to investment bankers?

This can’t be good.

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One Comment on What Crisis? Dow Posts Third Biggest Gain Ever - Most Americans Don’t See the Sky Falling

  1. What Crisis? Dow Posts Third Biggest Gain Ever - Most Americans Don’t See the Sky Falling : $700 Billion Bailout Plan on Tue, 30th Sep 2008 8:33 pm

    2. [...] Read the rest of this great post here [...]

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