This is a chapter in our book on The Great Meltdown.
So chatting it up with some insider types, this is what I've been told: Obama has the opportunity, right now, to act and determine the future re: this bailout stuff. If he goes along with the current plan, I'm told Senate Dems will follow along; if he doesn't they won't either.
It's more than obvious to anyone reading this blog that the current plan is little more than giving free money to the very people who fucked everything up in the first place and sticking taxpayers with the bill. It's really that simple, and no amount of propaganda is going to change that. What may not be obvious to Dem Villagers and the Obama camp: *everyone* down here in Little People Land hates this plan. And why shouldn't we? We're told things like SCHIP and universal health care are "too expensive," but gosh look how fast our leaderz can propose a way to spend several trillion dollars to help their buddies on Wall St. No, as uninformed and out of the loop as average Americans may or may not be, we can smell shit when we're told to eat it. And we're saying: No.
If you work for Obama, or any Dem campaign right now, if you've written checks or done phone banking or just like to use your email program, let them know. No. This bill is unacceptable. No. It must not be allowed to pass in its current form. No. It's not going to make anything better and will likely make things worse. No, no no no no.
This is a much more crucial moment than perhaps many realize, and it's important for Obama to live up to this first, critically important test as head of the Democratic party. Just say no, Mr. Obama. No.
Which is already not working. AP:
President Bush and congressional backers of a $700 billion financial industry bailout carried out high-intensity lobbying Thursday, on the eve of a crucial House vote that Bush said "a lot of people are watching."
Although those "people" are, presumably, not little people.
Bush resumed his plea for passage from the White House as both Democratic and Republican party leaders worked the offices and halls of congressional office buildings. The goal: secure enough votes to send Bush a bill that he said presents the "best chance" to combat the widening credit crunch.
Gee. It's like they're all in it together, isn't it?
Whoever expected post-partisanship to turn out like this? Or to arrive so soon?
Via McClatchy, a vacuum at the top:
When Obama, the party's new leader, learned of the plan's rejection, he spoke about Washington almost as if he weren't a member of Congress.
"Democrats and Republicans in Washington have a responsibility to make sure that an emergency rescue package is put forward that can at least stop the immediate problems we have so we can begin to plan for the future," he said.
He didn't say how he might lead or what role he'd play. "Step up to the plate," he told Congress. "Get it done."
And a vacuum in between Nancy's ears:
His party's leaders in Congress also threw up their hands, as House Speaker Rep. Nancy Pelosi, D-Calif., and others bragged that they'd delivered a majority of the Democratic votes, even though that wasn't enough.
"The Democratic side more than lived up to its side of the bargain," Pelosi said, lauding fellow Democratic leaders for "getting 60 percent of the House Democrats to support a bill which isn't our bill."
Er, wowsers?
Nothing -- absolutely nothing -- could be politically safer than opposing George W. Bush. ... So Monday's rejection of the bailout plan is not a catastrophic political defeat for George W. Bush; he has no political standing, no political future. But it is a vast and humiliating defeat for the Democratic leadership, across the board ... Now the Democratic elites have had their collective head handed to them on a platter. It is a dish most richly deserved.
You know, I've always heard that revenge was a dish best served cold.
But this Chris Floyd guy is changing my mind!