Congress has a long history of implementing new programs whenever there was a bit of extra money in the treasury, regardless of how specious or temporary the source. And of course all new programs become permanent... never to be trimmed nor eliminated when funds dry up... thereby requiring ever greater taxes or print-money and inflation.
There have been some serious FED economic fuck ups the last few years, but BS was not one of them. In case you haven't noticed, there is no Bear Stearns anymore. This was not a bail out. It was a move to prevent the complete melt down of the financial system due to all the counter party risk (estimated that half a trillion could have evaporated immediately). There is a reason why they acted on a Sunday, something they almost never do. They (the FED), were truly scared of an implosion. I am not a fan of the FED at all. I wish they didn't exist, and we had some other method of controlling rates, etc, but in this case, they did the right thing. The FED is non partisan BTW. They would have done the same thing under a democrat President.
November will be the end of America as we know it and we will become the USSA: http://money.cnn.com/2008/06/20/mag...bama.fortune/index.htm?postversion=2008062308
Yup, Obama will be the second term of Jimmy Carter and the fourth term of Roosevelt.... after 8 years of Obama we will have cobbled together the worst of all worlds, no incentive to produce and a patchwork of socialism that doesn't work for anybody except Obama's fellow lawyers.......
Thanks for the link. My take-away from that article is plainly that Obama simply has no clue. We get to look forward to a trainee in the White House. Note here that I was the first to coin the phrase, the "Waffle House". Which it will become. Nary a decision will be made without a lot of waffling.
Lately Obama has moderated some of his views. Whether he is doing this just to get elected (playing to the middle) or he really has seen the light remains to be seen. For example he has indicated he won't be withdrawing troops en masse from Iraq. He has also indicated he would be in favor of lower corp tax rates. One good item to note is that he has pissed off the MoveOn.org peolpe to the point of them getting a petition started. Oh yea, he also said he would not take public funding, which also po'd the MoveOn.org folks.