Monday, September 29, 2008

Bailing on the Bailout - Follow the Money?

Dog Bites Man - Speaker Pelosi blames the Republicans for the defeat of the bail-out bill, despite the fact that 95 of her Democratic colleagues voted it down, a number that would have easily ensured passage of the bill had they sided with her. Unable to leave partisan politics aside, she could not resist making a speech thought to have driven away Republicans likely to vote for passage.

Some are claiming that she did so intentionally in order to give political advantage to Obama in the coming election. I have an additional hypothesis.

The Dow dropped over 700 points on the news. Wouldn't it be interesting to see who among those associated with Democratic bigwigs were selling the market short lately? It was widely considered a done deal until the Pelosi speech

Insult to Injury Dept. - Barney Frank also blames the Republicans, and once again studiously avoids mention of his role in the legislation that created this mess, and his obstruction of efforts to reform Fannie and Freddie championed by both the White House and John McCain in recent years.

Republican Minority Leader Boehner stated "These are the votes that separate the men from the boys, and the girls from the women."

I guess that made it difficult to see where Frank would stand on the bill.

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