Two weeks after persuading Congress to let it spend $700 billion to buy distressed securities tied to mortgages, the Bush administration has put that idea aside in favor of a new approach that would have the government inject capital directly into the nation’s banks — in effect, partially nationalizing the industry.
LNW reports:
One of the hottest rants was by a man at a McCain rally in Waukesha, Wisc., whose voice was broadcast repeatedly by Rush Limbaugh:I’m mad! I’m really mad! . . . And what’s going to surprise ya, is it’s not the economy—it’s the socialists taking over our country. . . . When you have an Obama, Pelosi and the rest of the hooligans up there gonna run this country, we gotta have our head examined!
Conservative blogger MacRanger:
The left and the media are licking their chops as they get ready to crown the first socialist President of the United States, but over the last few weeks ordinary, everyday Americans are growing angry. It’s not about racism, it’s about the threat to the very fundamentals that make American what it is.
Socialism is incompatible with those ideas and I don’t care what the polls show, the majority of Americans want nothing to do with a socialist system or a socialist President.
Yeah, I'd hate for that "socialism" thing to get a foothold. That would be scary.
The irony is that a President Obama (like President Clinton) will actually be less of a big government spendthrift than Dubya, but conservatives will ignore this and save their extreme rhetoric for Obama. (That's not the only irony, of course.) The sad fact is that many of the so-called conservative guardians of capitalism... can't handle it! They can't endure the political ramifications of the free market's wild vicissitudes. How can they not understand that the free market's inevitable excesses cause
But instead of facing this reality, and taking it like men, they try to scare people about Obama being a "socialist"... when it's been precisely these Bush supporters who have enabled an intense "socialism for the rich" over the past eight years! Instead of taking out the large plank of "socialism" in their own eyes, they'd rather go back to the ole liberal-hating well and make a hateful wish about Obama. Wouldn't they be better served by reflecting for a second and say ing"Hmm... after being catamites to Bush's 'Big Gubmint Conservatism' for so many years, we deserve to lose the Presidency. Indeed, we lost our way-- so let's take this opportunity to clear our heads and refine our philosophy into something a little more sophisticated than 'tax cuts and military aggression are the answers to any question'."
Instead of doing THAT, they whine like prissy little b*tches about the prospect of "SOCIALISM" during an Obama presidency. And they're doing this while "W: the Prezdent" is partially nationalizing the banking industry!! It's not socialism, per se, that bothers them. They seem fine with "Socialism for the rich". It's the socialism for the non-rich that makes them so... mad.
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And I can't wait to hear the first time they call President Obama an "appeaser", and lecture forth on why he doesn't understand "evil".
NYT:
The Bush administration announced Saturday that it had removed North Korea from a list of state sponsors of terrorism in a bid to salvage a fragile nuclear deal that seemed on the verge of collapse.
