9/21/08

Paulson, The Uniter
By: Mark W Adams


I know of few human beings who I am more consistently at odds with than Bill Kristol, head neocon of the Weekly Standard. We are never on the same book let alone page. It's not even like a Coke vs. Pepsi debate. On most issues you could say I don't even like cola and he's pushing maple syrup. We're simply wired to look at the world from different solar systems.

So it's stunning that someone who is so far to the right from me that his positions on everything fall beyond the curvature of the earth can agree that the a Paulson blank check proposal is a bad idea. From his usual perch on Fox News Sunday, Kristol doesn't think giving Hank Paulson all this money is really the best way to go, and neither do I.

Can you really call something that is literally a blank check a well thought out idea where the total risk to the taxpayers totals $1.3 Trillion when you combine the Fanny/Freddie and AIG bailouts, the Bears Stearns, and Merrill guarantees plus the $700 Billion proposal to buy up all of the People's Republic of Wall Street's bad debt -- when there's zero accountability, zero taxpayer protection, zero rules, zero guarantees it will work and, zero relief for average mortgagees whose home equity is now less than zero.

So either the shock of the financial crisis meltdown has sobered the ideologues on the right and the left, or our aversion to anything that smacks socialism -- which George Will said on This Week, is defined as government control of the upper levers of the financial trigger points -- is something that deep down has always been there.

One thing to note while all this swirls in my head, no one but Ron Paul is saying anything about ending both the wars in Iraq and Afghanistan when you are about to throw the equivalent of the entire Pentagon budget into the financial markets -- knowing that the effects of this global crisis has yet to land on the shoulders of what they call the real economy, you and me, where it will inevitably wreck chaos. I honestly don't know if this proves he's simply a wacko or the only one out there who is willing to speak the truth.