Wednesday, September 24, 2008

Just say no! to extraordinary powers for the Bush regime

I just read the transcript of the President's speech on the financial crisis.

His account of what happened is this: 1) foreigners sent too much money to the U.S. 2) American entrepreneurs borrowed it and began building homes. 3)People started the buying homes. 4) Entrepreneurs built too many homes. But all of these people foolishly supposed real estate prices could only go up. Wrong expectations, blindness, entrepreneurial error...the free market just didn't work.

But so long as we give his Treasury Secretary $700 billion to spend as he sees fit, they'll fix things for us.

The President's account is a mix of nonsense and lies. The federal government has its fingerprints all over this disaster, and granting extraordinary powers to BBP (Bush/Bernanke/Paulson) would be terrible thing to do. At the very least, there must be genuine checks on Paulson, outsiders able to monitor and block actions he undertakes. I've written my Congressman and Senators asking them to block this plan. If you are one of my few American readers, you should too.

House contact info

Senate contact info

Tell them "Just say no" to extraordinary powers for Paulson.

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