Vice-Presidential Debate Quiz, Part 2

[Our Series of Occasional Campaign Questions Continues:]

In 2003, Speaking on CNN, Senator McCain said:
“I Am a Deregulator. I Believe in Deregulation.”

Less than Two Weeks Ago on 60 Minutes, Senator McCain Said,
“I think the deregulation was probably helpful to the growth of our economy.”

Yesteryday Congress Voted Our $700 Billion Bailout of that same economy.

Democratic Vice-Presidential Candidate Joe Biden, speaking in last-Thursday’s debate, said that Senator McCain “recently wrote an article in a major magazine saying that he wants to do for the health care industry, deregulate it and let the free market move, like he did for the banking industry.”

QUESTION #3:
Should America Let Senator McCain Do for Health Care what he has done for the banking industry?

□ Yes
□ No
□ Now is not a good time to ask


QUESTION #4:
Would You Like the Arizona Senator to Deregulate Your Health Insurance?

□ Yes
□ No
□ I can’t afford health insurance


QUESTION #5:
If Senator McCain Ever Gets His Hands on Health Care, should the American people be expected to provide another $700 billion bailout?

□ Yes
□ No
□ Yesterday's bailout check hasn't yet cleared the bank



(Transcript source: http://www.cnn.com/2008/POLITICS/10/02/debate.transcript.
Italics in Govrenor Palin's comments are by Channeling Barack Obama™ )

Treasury Testimony Baffles the Nation

In Secretary of the Treasury Henry Paulson's testimony before the Senate Banking Committee yesterday, he directly contradicted his “simple proposal”:

Secretary's Testimony Before the Senate Banking Committee on Tuesday:
“We gave you a simple, three-page legislative outline and I thought it would have been presumptuous for us on that outline to come up with an oversight mechanism.”

Secretary Paulson, Again in Yesterday's Testimony:
“If any of you [Senate Banking Committee members] felt that I didn’t believe that we needed oversight, I believe we need oversight. We need protection. We need transparency. I want it. We all want it.”

BUT:
Secretary Paulson’s Text of the Three-page Bailout Bill Presented on Friday, Just Four Days Earlier:

“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency...”

No Wonder So Many Americans Are Confused. What do we make of such contradictory statements? We don't like to believe that people lie, and yet such contradictory statements as Secretary Paulson made within a few days of each other represent either:

Lies or Senility or Merely Incompetence

How Can This Man Be Trusted? Whether the Secretary is senile or dishonest or merely incompetent, the contents of the United States Treasury should not be put at his disposal. We must not place our trust in this self-discrediting man.

Better Thinking Must Prevail. In terms of additional "bailouts" or other solutions to the current economic crisis, clearer thinking and more-responsible options must be examined—by more creditable people—and then pursued.

Congress Must Not Rushed Into Foolhardiness Yet Another Time.

As President Bush Himself Once Put It So Well, “Fool me once; shame on you. Fool me twice.....and you won't fool me again.”

In for a Penny, In for the Whole United States Treasury

At Least Federal Reserve Chairman Ben Bernanke had the decency today to say that he has made plenty of mistakes. Has anyone else in the Bush Administration ever apologized to the American people? Has anyone else in the Bush Administration said anything even close to this?

For the Rest of the Bush Administration, right now it's “Empty the rest of your wallets, step aside and shut up, or the whole ball of wax goes up in flames.” This may be as close to an apology as we citizens of the United States are likely to get. For any or all of these messes.

The Free-Market Ideology, the Great Experiment, is now the experiment that has failed. It has failed American Conservatives in particular, and it has failed the American people overall.

Over the Past Eight Years, We Have Seen what the decades-long dismantling of essential regulatory measures has done to the economy—from the savings and loan industry back in the 1980s, all the way through to the banking and mortgage and investment fiascoes of today.

President Bush’s Appointees, Treasury Secretary Henry Paulson and Fed Chairman Bernanke, offer absolutely no assurances as to why we should trust them now, in the face of their long series of failures. If a bailout is necessary, it seems prudent to look for someone different to give the thing a try.

It Is Common to Resist Changing Horses in the Middle of the Stream, even if the horse you’re on is crippled and drowning. That fear of changing “horses” is part of what re-elected President George W. Bush in 2004. As some Conservatives said, “He got us into it; he can get us out.”

Well, It Seems That This Horse Can’t Get Us Out, and indeed his people have continually made things worse. And now his people come to Congress, hat in hand, and beg for the American worker to bail the Wall Street bankers out.

Secretary Paulson Says That If We Try to Limit the Bailout, such as by asking for equity positions in the risky investments that we buy—or by limiting the multimillion-dollar CEO salaries of the companies involved—why, these firms—these CEOs—might just turn us down.

That’s Right: the CEOs of These Desperately Troubled Firms might just say to us, “Thanks....... But no thanks.”

And Then Where Would We Be?

If We All Go down the Financial Tubes Without Their Bailout, at least they won’t be taking $700,000,000,000 more of our money with them when we all go. At least they won't be “laughing all the way to the bank” without us.

The Good News: Exactly six weeks and counting until we vote the current, uh, Free-Market, Anti-Regulation Republicans out.