Newt Gingrich is applaed by as $700 billion dollar rescue as are most Americans and by a President who calls himself a fiscal conservative. Newt theorizes he was given only one option by Paulson. It is an interesting take.
Editors note: Notice how Bill is still riding the “no one warned me” train. Who’s looking out for me Bill O’Reilly. Ha!
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He is right. Just look at the way that they go about this, it's formulaic, just like the Iraq war where they drum up all of this manufactured fear and then force the congress to act on this fear. Congress fail to lift the thin veil to see the truth.
Remember "let's hope the smoking gun isn't a mushroom cloud?" there was no smoking gun, and now they are trumping up "if we don't act right now we will see another great depression." It's all BS. As you see from the WaMu failure the market will work itself out, it may be tough times for a year but it will work itself out.
-Erik
And one more thing, I am to some degree proud of the house republicans who decided to lift the skirt of the scam that they are running here. Looks like they failed to stop it, but at lest they looked into it unlike the unconstitutional patriot act.