This Reuters article on the bailout vote, Conservatives stand firm on opposition to bailout, gives me mixed feelings. Yes, it's good that they opposed the bailout, but the vote was a little too close for comfort. This part especially troubles me:
"Conservatives strongly oppose the rescue plan proposed last week by U.S. President George W. Bush, arguing that it amounts to government intervention in the free market and would misspend taxpayer money to help big banks."
Uh, yes, it would be misspending taxpayer money, but what La-La Land are these conservative politicians living in if they think we currently have a free market? It's good that conservatives are voting against Bush, but it still seems that they don't really understand the problem in the first place, except for Congressman Ron Paul. It was the previous interventions in the free market that got us into this situation. Remember the Federal Reserve? Fannie Mae and Freddie Mac? Subprime mortgages and fancy financial derivatives?
The article also quotes talk show host Neal Boortz as saying "I'm not particularly distressed that the bailout bill did not pass. I want to see this thing (the bill) flesh itself out a little over a period of days."
Um, what? This alleged "libertarian" simply wants a better bailout bill to be passed? How about "No bailout", Mr. Boortz? How about "Let them fail," Mr. Boortz? Are you one of those so-called "vulgar libertarians" I keep hearing about?
Oh well. If nothing else, it makes for good comedy. I suspect we will need it in the days to come.
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