That mean Nancy Pelosi lauded her caucus for defending Main St. from the predations of Wall St. This made Republicans pout, so they voted against the bailout, says John Boehner. Waaah! You'd think they'd be ashamed to admit what a bunch of children they are (no slur intended against the majority of children, who are much more stalwart).
Already, I have heard colleagues channelling this bullshit, blaming the Democrats for not passing the bill, when 60% of them voted for it and only 30% of Republicans. While angrily blaming the Democrats, they were incensed that the Democrats would care about who got the blame! It's boggling to me how people who let the GOP manipulate them like this fail to notice it.
Was this a good bill? No. In point of fact, it sucked. The only rationale I've read that made it worth passing is Paul Krugman's: It was needed, and it was the best that the perennially irresponsible Republicans would permit.
As just punishment, the Democrats should now put forward a good bill (Krugman beats me to this, though without repeating his definition) and let it be voted on party lines. A good bill would have:
- a lower price tag, doled out in relatively small chunks
- real standards for pricing of bad paper
- mandated equity stakes for us citizens, the recapitalizers, mixed with temporary socialization of failed financial institutions
- punitive, confiscatory, regurgitative taxes on those who profited from this bubble
Update: Barney Frank noticed the bullshit coming from the ever-oily John Boehner.
Update (9/30): For all the people in comments who are incensed with the Democrats, check out how two-faced, irresponsible, and focused only on politics the Republicans are. They were telling the Democrats they had a deal, but they were busy before the so-called deal failed planning to screw the Dems. Republicans, dishonest to the core. (h/t Americablog via Eschaton)
Update: Michelle Bachman defends her fellow Republicans against Boehner's slur on their toughness:
We are not babies, sucking our thumbs," Bachmann said.No? In any case, they are just plain sucking.