No Time to Talk?
The House Republicans had enough of Barney Frank yesterday afternoon. Frank and the other congressional Democrats, prime enablers for Fanny and Freddy Mac, now insist on conditions on the "financial rescue" that are outright corporatism: bestowing stock warrants on Uncle Sam for companies that participate in the program (which will lead to expanded meddling by the government into financial markets), regulating the compensation of their corporate officers (you can have your show trials later), compulsory modification of mortages held by the government ("foreclosure prevention"), and "oversight boards". The House GOP members (and Senator Shelby) refused to be railroaded into signing on to a plan without at least a serious discussion of alternative solutions that are less costly to the public and less intrusive on the free market, and perhaps have the financial industry solve most of their own problems. We at Deaddrifts do not presume that these alternatives are necessarily better solutions, but the people of the United States have the right to have their elected leaders consider their merit over the weekend.