Monday, September 29, 2008

September 29, 2008: Black Monday - Dow drops 777 points


The Republicans today refused to vote for the government bailout that would restore faith in credit and stabilize the markets. To be fair, there were also Democrats who refused to vote for it. This is, after all, an election year, and elected representatives don't want to go home with a new tax bill for their constituents. But we all know that it is the prevailing philosophy that began with Reagan and reached its crescendo with the Bush administration that has landed us in this mess. The idea that government is always bad and that the "free market" needs to be left unfettered to allow the "invisible hand" to take care of the financial markets has been the hallmark of the extreme brand of Republicanism that has ruled this country from 1994 in Congress and from 2000 in the White House.

The Republicans have never had as power power as they have had during George W. Bush's tenure as President (nor will they ever have that much power again). And what did they do with that power? They steamrolled over everything, smashing everything in their path that ran contrary to their deeply flawed ideology. They buried stem cell research, health care, and veterans care. They fucked up education reform. But where they really failed was during those big leadership moments, when it was the bottom of the ninth with two outs and bases loaded and the whole world was watching: 9-11, Katrina, Iraq, Afghanistan, and the demise of our financial markets. And in the on deck circle, we have Iran, Russia and our missing energy policy ready to hit a few more into the seats in right-centerfield!

If you were unsure before, how could you not see now? The conservative-extremist Republicans who have had control over our government need to go. Sorry to be so partisan, but the facts do not permit me to conlcude otherwise.

More to come...

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