Saturday, October 04, 2008

You've Got to be Kidding Me?

So they passed the idiot bailout bill, right?

And then what happens to the stock market? Well, wonder of wonders, it starts to tank again.


Mike Conaway said in a press release that he voted for this bailout package mainly because the stock market would tank if he didn't. I'll go ahead and quote him, for posterity's sake:

"After the vote on Monday, the stock market reacted very negatively to the defeat. Confidence in the short term lending facilities, particularly commercial paper markets and overnight lending between banks, had to be addressed."

Well, welcome to the real world, Mr. Conaway. Everybody saw the market drop on Monday. We all figured the same thing you did, at the time, that the market was reacting to the defeat of the bill. Except that it wasn't. It was obviously reacting to the possibility that this thing might pass. In fact, it recovered slightly after the bill failed to pass.

Similarly, all the MSM outlets were saying on Tuesday (when the market, ahem, rebounded nicely) that the market was responding to renewed efforts to pass a new bailout bill. They were saying this even though the market had trended down while you Congressmorons were working on the first bill.

Do you pork-barrel elites in DC really have the MSM in your back pocket, or what?

Well, now you have your answer. Congress is responsible now. I'm not blaming banks anymore, or mortgage lenders, or even the Enronization of our nation's businesses.

I'm blaming Congress. They have chosen to accept responsibility, and I for one will give it to them.

I can't believe we send these complete and total idiots to Washington to lead. I wouldn't trust them to mow my lawn.

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