Tom Petruno:
Market Beat
Big bailout might be inevitable
9:40 PM PDT, August 31, 2007
One view of the Bush administration’s mortgage-crisis action plan, outlined by the president Friday, is that it’s a Republican attempt to avoid a larger-scale federal intervention.
But history suggests that a larger-scale government intervention is exactly what we’re going to get.
Full disclosure…I am a dare say a social progressive…and strong fiscal conservative which makes me what they call Liberatarian, I just consider myself an Independent. With that said I am in the 66% to 71% of Americans that disapprove (strongly I might add) of Bush. I will say this…I am glad we have a conservative (not so much Bush just the long ago forgotten and rarely implemented idea of fiscal conservative ideology) as president at this moment on this issue. Sure he is going to f*#k this up, but if we had the opposite end of the spectrum in power on this issue at this moment your tax dollars would already be hard at work attempting to bail this situation out. Keep a little perspective here.
