Let me say this right up front -- I'm glad the bailout legislation failed in the House yesterday. It was not a great bill, and more time should have been taken on crafting it. It gave too much power to the Treasury Secretary (which means that power actually resided in the White House), and did not contain enough over-site of, well, anything. So at a high level it's good that the bill didn't pass.
Having said that, though, I think the Republicans are being cowardly, bitchy little girls about it. Not only does the Republican ideology mandate that big business should be completely unregulated and allowed to do what ever they want to do (it's all good for the economy, you see, and the wealth will "trickle down"), but they also, secretly, believe that if bad decisions get made by those same businesses that put them in heaps of trouble that the government should not help. So at least they stayed consistent.
The problem is because the GOP knows this would not be a popular idea among the average public they are lying about why the bill didn't pass. They turn on the Blamethrowner© and aim it everywhere except at themselves.
"Boo hoo hoo, the big, bad Nancy Pelosi said some words and hurt my feelings so I'm gonna fuck the economy some more." "Boo hoo hoo, Senator Obama wasn't big and bad enough to force me to vote for this bill I hated anyway, so I'm gonna fuck the economy some more." "Boo hoo hoo, I said I would vote for this and I was lying so now I have to deflect attention away from me, so I'll just fuck the economy some more."
These are the actions of cowards.
At least now we might get a better bill than the one the White House tried to foist off on us. If it's done right the House Democrats can pass a bail out bill that has over-site, helps individual investors and home owners, and doesn't give more power to the Executive branch without one Republican vote. Now that I'd like to see.
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