More on the Bail Out

Here's a nice video, detailing how Congress was pressured to pass the Bail Out bill. I meant to write about it before the vote, but I got involved in other things and forgot.

But here's the scoop, and it made me all the more opposed to the bail out bill: According to Rep. Brad Sherman (D-California), they were told in private conversations that without this bill, the market would drop 5000 points over a few days and that there would be martial law in the United States.

This is fear mongering, plain and simple, and smacks of the same pressuring that the Administration did for the Patriot Act in the days after 9/11. This Administration has used up its credibility. I wish more of our Representatives had seen this for the same sort of ham-handed coercion that went on in 2001 and had pushed back and required that more study go into the bill before it was passed.

If we've learned nothing else in the last 8 years, we've learned that when the Administration uses fear to try to urge a quick response, it's generally because there are things they want that they're afraid cooler heads will refuse to give them.

Here's one video of Sherman discussing this:



And here's a longer YouTube sound clip of Sherman on some radio show discussing the same thing...



Liam.