Tuesday, September 30, 2008

Market Meltdown Blowback

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Here we are at Armageddon Day plus one and we've had a half day to digest exactly what happened yesterday. In hindsight, I think it was wise to keep hands off the free markets for the time being. Evidently, so did two-thirds of the GOP and one third of the Dems.

So, how did the chattering classes respond to the cataclysmic events of yesterday?

Let's start with Karl Rove who eviscerates Speaker Pelosi in this epic blast.

The NY Post blames Pelosi as well.

The poor lobbyist's are not happy and are in a threatening mood. My heart pumps piss for them.

The WaPo warns of a world-wide catastrophe.

And finally, the Wall Street Journal sums it up this way:

Her highly partisan speech on the floor -- blaming "right-wing ideology of anything goes, no supervision, no discipline, no regulation" for the financial distress -- is no excuse for Republicans to vote no. But it is indicative of the way she has governed for the past two years -- like Tom DeLay without the charm. The cynics are saying Ms. Pelosi deliberately tanked the bill by giving 95 Democrats a pass, knowing failure would hurt John McCain, and given her track record we can see why people would believe it.

Emphasis mine. Nice line about DeLay. Seriously though, listen to Rove in the ink above and hear how he breaks down nearly every Representative that Pelosi told to vote no. I may have been wrong, she did show some leadership...the kind that entails using a stick and beating anyone who gets out of line. She wanted this to fail, otherwise there's zero excuse for her to make that speech yesterday. She sees it as a GOP loss and wants to make it as political as possible in October heading up to the election. That's a ballsy gamble--one in which she's betting with the nations chips--and should it fail, we'll all suffer greatly.

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