Michael McDaniel’s Dawning Awareness

I’m really starting to think that the whole rush to bail out wall street is a fraud.

Rep. Marcy Kaptur (D-Ohio):

Rep. Peter Defazio (D-Oregon):

Definitely a nice break from the current vitriol.

Many generalities, as usual, but also some very important specifics. I particularly like the first bit regarding his lobbying rules.

Krugman writes:

If the government is going to provide capital to financial firms, it should get what people who provide capital are entitled to — a share in ownership, so that all the gains if the rescue plan works don’t go to the people who made the mess in the first place.

That’s what happened in the savings and loan crisis: the feds took over ownership of the bad banks, not just their bad assets. It’s also what happened with Fannie and Freddie. (And by the way, that rescue has done what it was supposed to. Mortgage interest rates have come down sharply since the federal takeover.)

But Mr. Paulson insists that he wants a “clean” plan. “Clean,” in this context, means a taxpayer-financed bailout with no strings attached — no quid pro quo on the part of those being bailed out. Why is that a good thing? Add to this the fact that Mr. Paulson is also demanding dictatorial authority, plus immunity from review “by any court of law or any administrative agency,” and this adds up to an unacceptable proposal.

Write your newspaper editors, congressmen and senators, people. This is a $700 BILLION mistake that our grandchildren will be paying off. Here is a sample letter.

How awesome is this?

At the New Yorker’s 2007 conference “2012: Stories from the near future”, the social and cultural psychologist Jonathan Haidt talks about the five foundations of morality, and why liberals and conservatives tend to talk right past each other.

I found this talk very enlightening and if, like me, you have ever wondered why conservatives just “don’t get it,” have a look! (hint: they do)

Thanks to Nick for the link.