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Bogus Wall Street Bailout:
Dems Duped Again by Latest Bush Administration October Surprise
By Kam Williams
In October, 2001, President Bush pressured Congress to pass the
Patriot Act into law with virtually no debate and without its even
being afforded an opportunity to study the 342-page document
thoroughly. The very next October, members the House and Senate
again shirked their responsibility by capitulating to the
Administration’s request for an authorization to invade Iraq over
what turned out to be phantom weapons of mass destruction.
Whatever happened to the notion of separation of powers? Under
Article 1, Section 8 of the Constitution, Congress is supposed to
decide if and when the nation goes to war, yet it allowed itself to
be bullied into abdicating its responsibility by a very cunning Bush
junta.
Now, it’s a Presidential election year, so it’s no surprise that the
Republicans would resort to another October surprise, especially
given the fact that most folks are fed up with how the country has
fared under their control. What is alarming, however, is how the
Democrats bought Treasury Secretary Henry Paulson’s claim that the
American economy was teetering on the brink of collapse and in
immediate need of a $700 billion handout.
So, Speaker of the House Nancy Pelosi, Senate Majority Leader Harry
Reid, Senate Banking Committee Chairman Christopher Dodd and other
Democratic leaders rushed to stage a photo-op alongside Paulson. And
during that press conference they confirmed that, yes, the financial
situation was dire and that they supported a bailout based on a
vague 3-page proposal that the Treasury Secretary be allowed to
divvy up the money however he saw fit.
Understandably, most taxpayers were highly suspicious of the deal,
and what looked like another rush to judgment. It just makes no
sense to give Bush and his cronies carte blanche to spend what
amounts to 50% of the U.S. budget in their last few months before
vacating the White House.
A week later, Republican House members, all up for re-election,
decided to distance themselves from the plan. Why are they wise
enough to demand more time to see the details, while the Democrats
were willing to do Bush’s bidding? As usual, politics makes strange
bedfellows, for we have the White House in agreement with Democratic
Congressman urging swift passage of a law which will raise taxes
astronomically while primarily benefiting the wealthy.
Let’s just hope that blowback from this bogus Bush bailout doesn’t
bite Obama in the butt in November.
Attorney Lloyd Kam Williams is a graduate of the Wharton School and
a member of the NJ, NY, CT, PA, MA & US Supreme Court bars.
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Kam Williams 