Democrats Prevent More Theft; Oversight For $700 Billion Fund

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Democrats risked looking as if they were impeding a swift economic rescue plan; but they correctly insisted on an oversight body for the spending of these billions of dollars. It was a fight worth having; and they will prevail.

[Election 2008: Wall Street Meltdown]


The Democrats have finally done something they can be proud of.

The party stood strong, as did Senator Barack Obama, and called President Bush's and Treasury Secretary Henry Paulson's bluff.
 
Bush wanted to use his man Paulson to rush an approval of the proposed $700 billion Wall Street "bail out" package.

Never have so few almost stolen so much from so many so quickly.

The Democrats argued that all that money could not be turned free for Paulson and Bush to spend however they saw fit; Paulson, after all, is a Goldman Sachs man, having stepped from the Chair position there to be Treasury chief.

Democrats risked looking as if they were impeding a swift economic rescue plan; but they correctly insisted on an oversight body for the spending of these billions of dollars. It was a fight worth having; and they will prevail.

Perhaps Congress' approval rating would not be so sorry had the Democrats shown similar backbone with respect to the Republican's and John McCain's Iraq debacle; where thousands of young Americans have died, tens of thousands of Iraqis have perished --possibly more; and by the way they're not all "terrorists" something the corrupt corporate media never point out-- and nearly $1 trillion squandered in a war with no clear objective.

Better to do something later than never.

With respect to the $700 billion fund, Democrats have also insisted that some of this money be spent on "main street," with ordinary Americans; the people who are losing their homes in foreclosures--the ones who don't make tens of millions of dollars on Wall Street in salary and "bonuses."

Democrats have also insisted that this tax payer money not be used to fund the imperial lifestyles of the ex-CEOS as they leave the ships that they've run to the ground, in the form of multi-million dollar golden parachutes.

For once, in a long time, Democrats have something they can be proud about. They have done what was expected of them; shown leadership.

This is the kind of leadership that can restore the United States with a President Obama in The White House.




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