The taxpayer will bail you out
Published Mon, Sep 29 2008 11:22 PM
In her floor speech before the “700 billion dollar bailout vote” today, Nancy Pelosi had this to say (video excerpted from Breitbart, sorry about the sound/video synchronization errors)…
“… No regulation, no supervision, no discipline, and if you fail, you will have a golden parachute and the taxpayer will bail you out. Those days are over.”
I've wanted to remark upon this ever since I heard it. In this particular speech she's trying to convince Republicans to vote for the bailout package. That's why I find this particular excerpt so revealing. She's complaining about the mentality of those evil undisciplined capitalists expecting a bailout from the taxpayer — while she's trying to convince at least 12 Republicans to vote for … a bailout from the taxpayer.
This leaves me wondering if even Nancy Pelosi actually understands what a bad idea this really is. After all, here she is using the moral hazard argument. I honestly think that she let slip what she knows deep down inside but isn't willing to admit publicly. This bailout is a bad idea — but of course it's good for the Democratic party if the public can be convinced it's necessary during a Republican administration.
Later, after the bailout failed by a margin of 228 to 205, just 24 votes shy of passage, Speaker Pelosi decided to blame the Republicans for the failure of the bill. Never mind that the Democrats hold the clear majority in the House and ought not to have needed a single Republican vote. If Nancy Pelosi had managed to rally just 24 of her Democratic colleagues this abomination would have passed. After all, 94 Democratic Representatives voted against it.
Maybe Mrs. Pelosi's speech discouraged a few of the Democratic members of the House, since every House seat is up for re-election this year. Some of them must have realized that the words “the taxpayer will bail you out” might not translate into votes on the first Tuesday in November.
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David responded with:
 | "This leaves me wondering if even Nancy Pelosi actually understands what a bad idea this really is. "
It leaves me wondering if she actually listens to the words coming out of her mouth... or understands them even if she does listen to herself.
Another coupla options: she expects her listeners to
a. be in her pocket or
b. be too stupid to parse her comments
Trying to understand what's going on in Nancy Pelosi's head is hurting mine.
Hmmm... there is the old pagan idea of ones "true name" being defined by ones character. Under this model, a person can only discover their true name by truly knowing themselves. Were this a fact of life, people like Pelosi would wander through life nameless, merely wearing convenience labels, as she and her ilk are defined solely by whatever meaningless or wildly confused and self-contradictory babble issues from their mouths.
Or maybe not. Maybe others would be able to discern their true names: Strychnine Peolsi, Cyanide Reid, Warfarin Obama, etc.? |
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