Paulson’s Prevarications
To say that Michelle Malkin is not pleased with Hank Paulson would be a Godzilla-sized understatement. But she has good reason. Paulson’s been a panicky mess for a month and, despite his evangelism about the end of our economy, we’re still swapping money for goods just like we always have.
Treasury Secretary Hank Paulson finally confirmed what lonely bailout opponents tried to tell the American public all along: The man doesn’t know what the hell he’s doing.
Paulson held a bazooka to taxpayers’ heads. He groveled on his knees in front of Democratic House Speaker Nancy Pelosi. He lured leaders from both political parties into linking arms in a panicked Chicken Little line dance for the beleaguered mortgage industry. Paulson demanded an unprecedented $700 billion troubled assets relief program for the good of the country. For the health of the housing market. For the survival of the economy. No time for deliberation. No time to review the failures of such interventionist approaches around the world. Now, now, now!
And now? The pulled-out-of-the-posterior “$700 billion” price tag has ballooned into the trillions. The “mortgage industry rescue” has expanded to banks, insurance companies, automakers, credit card companies, and possibly the entire national volume of consumer lending. Oh, and that vaunted “TARP” component, Paulson admitted this week, is nothing but a four-letter-word that rhymes with TRAP.
Read the whole thing.
Oh, and Michelle, if you read this, can you please do me a favor? Promise me that you will never again put the words “Hank Paulson” and “naked” next to each other? I get the reference to the fairy tale, but still…..BWUHHHHWUH!
Other Posts of Interest:
- Yeah, We’re Idiots for Listening to Them
- Are There Any Good “Bailout” Ideas at this Point?
- Welcome to the People’s Glorious Revolutionary Currency Storage and Redistribution Center!
Category: Cool Columnists and Wicked Writers, The Economy and Your Money
