Sunday, September 21, 2008

$700 BILLION and no debate?

The Boston Globe (!!!) now has a comment feature. The timing is prescient:

As a newspaper reporter, I must say that a great deal of the blame for this catastrophe must be placed on the Boston Globe, New York Times, CNN, CNBC, MSNBC and every other publishing enterprise which has received enormous amounts of advertising revenue from the various sectors of the real estate bubble during the past five years.

It looks awfully stupid for the Globe to be running stories now that read like "who coulda node?" when everyone knew back in 2002, when my mother's tiny house in Easton, Mass. quadrupled in value in about two years. Everyone knew back in 2002 and 2004 and 2006 but the money was so good -- to the Globe advertising dept. included -- that nobody wanted to disturb the golden goose as she laid more seemingly golden eggs.

And now the regular folks, who don't have golden parachutes, who come from places like the Shoe City of Brockton, Massachusetts, who were told over and over to "privatize and take control" of their retirements, and did so like good patriotic soldiers, are expected to bail out people who make more in one month than most Massachusetts people make in a decade.

And now Congress wants to pass this dreck before Monday. With no debate.

The more important an issue, the more it needs to be debated. That's the point of town meeting. Should Congress be held to any less of a standard?


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