Monday, September 29, 2008

KLEINKARIERTE BEAMTEN

Ev'ry morning, ev'ry evening, ain't we got fun?
Not much money, oh but honey, ain't we got fun?
The rent's unpaid dear, we haven't a car;
But anyway, dear, we'll stay as we are.

In the winter, in the summer, don't we have fun?
Times are glum and getting glummer, still we have fun.
There's nothing surer: the rich get rich and the poor get children.
In the meantime, in between time, ain't we got fun?

I hope you enjoyed today’s Gatsby moment. Catchy, isn't it?

For the past three hours, I've been trying to access the Congressional House website to find out who voted for and against the bailout, but my browser returned these error messages: “Cannot open page” and “Server dropped connection.” Figures! But didn't we know this already. How unconnected and inattentive our server has been to the needs of users? Good, browser. Keep trying, browser. Fetch, browser.

My thought was this: Find out how many Congressional egos passed through the eye of a needle and under the Bridge to No-Where. Find out who put party, ideology, and partisanship before citizens. Find out who wiped out the annuities, pensions, and portfolios of tens of millions of Americans in a single “Nay” as $1.2 trillion in assets evaporated on Wall Street within hours. And find out why, when I put my ATM card into a cash machine tomorrow, a tongue sticks out and gives me raspberries. Then, once I find out who these ingrates are, I intend to bomb the hell out of them with e-mail and hate mail that falls just short of jail-mail. In other words, give them a piece of my mind.

By all accounts, the bailout stinks to high heaven, but the point is not about retribution for those who caused the meltdown or about the excesses of laissez faire capitalism but about protecting millions of innocent people caught up and hurt by it. In other words, when a car hits a pedestrian, do you call an ambulance first or do you lynch the driver before giving first aid to the victim?

During the 1990s, Japan and Sweden experienced a similar crisis: Excessive lending > institutional collapse > fears of economic meltdown > massive bailout. However, their respective outcomes differed. In the case of Sweden, fast and decisive intervention by the government saved the day. Sweden spent billions on blanket guarantees for creditors and depositors. Bipartisan support and transparency was key to winning public support.

In Japan, when real estate values plunged and borrowers were unable to pay their debt, the government dithered and forced banks to write off bad debts. Government intervention did not occur until 5 years later, and the Japanese economy sank into a no-growth period now known as the “lost decade.” Lesson: Japan waited too long.

That is why I intend to stay up all night until the server responds, find out who are these culprits, and post their names right here at the Swash Zone. If so inclined, please feel free to take out your aggressions on them, no holds barred.

4 comments:

  1. I accept your invitation, by the way...
    Thanks for having me... 8>)

    Final Vote Results for Roll Call 674

    FINAL VOTE RESULTS FOR ROLL CALL 674
    (Democrats in roman; Republicans in italic; Independents underlined)
    ((Not in this comment, obviously... Follow the link above, if you need that info))

    ---- NOES 228 ---

    Abercrombie
    Aderholt
    Akin
    Alexander
    Altmire
    Baca
    Bachmann
    Barrett (SC)
    Barrow
    Bartlett (MD)
    Barton (TX)
    Becerra
    Berkley
    Biggert
    Bilbray
    Bilirakis
    Bishop (UT)
    Blackburn
    Blumenauer
    Boustany
    Boyda (KS)
    Braley (IA)
    Broun (GA)
    Brown-Waite, Ginny
    Buchanan
    Burgess
    Burton (IN)
    Butterfield
    Buyer
    Capito
    Carney
    Carson
    Carter
    Castor
    Cazayoux
    Chabot
    Chandler
    Childers
    Clay
    Cleaver
    Coble
    Conaway
    Conyers
    Costello
    Courtney
    Cuellar
    Culberson
    Cummings
    Davis (KY)
    Davis, David
    Davis, Lincoln
    Deal (GA)
    DeFazio
    Delahunt
    Dent
    Diaz-Balart, L.
    Diaz-Balart, M.
    Doggett
    Doolittle
    Drake
    Duncan
    Edwards (MD)
    English (PA)
    Fallin
    Feeney
    Filner
    Flake
    Forbes
    Fortenberry
    Foxx
    Franks (AZ)
    Frelinghuysen
    Gallegly
    Garrett (NJ)
    Gerlach
    Giffords
    Gillibrand
    Gingrey
    Gohmert
    Goode
    Goodlatte
    Graves
    Green, Al
    Green, Gene
    Grijalva
    Hall (TX)
    Hastings (WA)
    Hayes
    Heller
    Hensarling
    Herseth Sandlin
    Hill
    Hinchey
    Hirono
    Hodes
    Hoekstra
    Holden
    Hulshof
    Hunter
    Inslee
    Issa
    Jackson (IL)
    Jackson-Lee (TX)
    Jefferson
    Johnson (GA)
    Johnson (IL)
    Johnson, Sam
    Jones (NC)
    Jordan
    Kagen
    Kaptur
    Keller
    Kilpatrick
    King (IA)
    Kingston
    Knollenberg
    Kucinich
    Kuhl (NY)
    Lamborn
    Lampson
    Latham
    LaTourette
    Latta
    Lee
    Lewis (GA)
    Linder
    Lipinski
    LoBiondo
    Lucas
    Lynch
    Mack
    Manzullo
    Marchant
    Matheson
    McCarthy (CA)
    McCaul (TX)
    McCotter
    McHenry
    McIntyre
    McMorris Rodgers
    Mica
    Michaud
    Miller (FL)
    Miller (MI)
    Mitchell
    Moran (KS)
    Murphy, Tim
    Musgrave
    Myrick
    Napolitano
    Neugebauer
    Nunes
    Ortiz
    Pascrell
    Pastor
    Paul
    Payne
    Pearce
    Pence
    Peterson (MN)
    Petri
    Pitts
    Platts
    Poe
    Price (GA)
    Ramstad
    Rehberg
    Reichert
    Renzi
    Rodriguez
    Rogers (MI)
    Rohrabacher
    Ros-Lehtinen
    Roskam
    Rothman
    Roybal-Allard
    Royce
    Rush
    Salazar
    Sali
    Sรกnchez, Linda T.
    Sanchez, Loretta
    Scalise
    Schiff
    Schmidt
    Scott (GA)
    Scott (VA)
    Sensenbrenner
    Serrano
    Shadegg
    Shea-Porter
    Sherman
    Shimkus
    Shuler
    Shuster
    Smith (NE)
    Smith (NJ)
    Solis
    Stark
    Stearns
    Stupak
    Sullivan
    Sutton
    Taylor
    Terry
    Thompson (CA)
    Thompson (MS)
    Thornberry
    Tiahrt
    Tiberi
    Tierney
    Turner
    Udall (CO)
    Udall (NM)
    Visclosky
    Walberg
    Walz (MN)
    Wamp
    Watson
    Welch (VT)
    Westmoreland
    Whitfield (KY)
    Wittman (VA)
    Woolsey
    Wu
    Yarmuth
    Young (AK)
    Young (FL)

    ReplyDelete
  2. Many thanks, repsac. Let us both get some rest tonight. I see Tom Feeney of the 24th District of Florida on that list, just as I suspected. Tomorrow, Feeney will be mashed into mush and turned into chicken powder.

    ReplyDelete
  3. Small minded, pusillanimous, maybe. Some were likely responding to overwhelming public sentiment against the bill. Whether by virtue of its shortcomings, its granting of unprecedented powers to Paulson; lack of accountability or oversight or just anger toward markets gone wild, it has most Americans against it.

    Just like us to shoot ourselves in the foot, but Paulson and the Congress bears some blame for writing such shoddy and unpalatable legislation.

    Europe is manning the pumps and bailing like crazy, but I don't know as of this morning whether some of the major institutions will survive.

    ReplyDelete
  4. Of course, you are right, Fogg, and maybe we will get an even better bailout before this is over.

    Robert Stein speculates that House Democrats will find the 218 votes from the liberal wing of the party, and the bailout will contain more than Republicans bargained for ... like provisions for “bankruptcy judges setting mortgage terms and rates, the ACORN slush-fund spending, the union proxy for corporate boards, stricter limits on executive compensation, and much larger equity ownership of selling banks through warrants … ”

    Ironic that Bush will be forced to sign the more liberal “truce” because his own troops abandoned him in the field. That is ... if we get another shot at it. If we don't, then markets will get even uglier.

    ReplyDelete

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