I think there’s a chance that Bush’s “fool me once…won’t get fooled again” misquote may have some relevance in the collapse of our financial system. I think, that having seen how they pushed through the Iraq War and the Patriot Act, congress just might not get fooled again. We need a bailout of some sort. It’s looking more and more like that bailout may not come in the form of just buying out all of the bad debt at ridiculously high prices. Tonight, even a few Republican senators and congressmen are starting to come out and say this is a bad deal for taxpayers. If we’re going to do a bailout, it has to be more like what we did with Fannie & Freddie than what Paulson is talking about.

This entry was posted on Monday, September 22nd, 2008 at 7:56 pm and is filed under economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.