Quick and Dirty: Economics
Here’s a brief rundown of what locals are saying.
Mike commented shortly before today’s big announcement came out:
The excuses are that it would take time away from the campaigns and take time from debate preparations. You and I know that they don’t want to go on the record over a controversial issue because it may come back to bite them on the ass before November 4.
But just for kicks, let’s give The Mac the benefit of the doubt and assume that he’s motivated by a true desire to hammer out a bipartisan congressional agreement rather than some sort of political maneuvering. McCain’s call to postpone the debate is still a huge disservice to the American people who deserve to hear the two would-be presidents thoughtfully discuss their proposed solutions to our current economic crisis.
Charleston Real Estate uses a local example to illustrate a point:
[w]hile I am not in favor of the government offering “full price” to bail out the miscreants who foolishly lent too much to too many who shouldn’t have been able to purchase a home, what is the prudent amount to buy these distressed assets for.
This to me smacks of socialism/communism. When the government ‘lends’ money to large corporations they now have an interest in same corporations. It’s only a matter of time before some sort of greed or power corruption occurs and the government exerts its control or will onto those that run manage these particular companies. I worry that this could have grave consequences should our system of checks and balances fail (and it will, most likely).
Sharpstick shares a political cartoon and comments:
If you would have told me a year ago that our Banking system would be socialized by a Republican administration before our Health system I wouldn’t have believed you.