All of us important and knowledgeable people (Hank Paulson, Bennie, Barney, Chris Dodd, Chuck Schumer, Nancy…) agree that there is no choice – if you want to have a productive, energetic, dynamic economy for yourselves and your children, you need to accept the only meal we have on the menu today: We start with an immediate large check from you to us. Then we move to the main course, which is the dispensing of all that money to the least responsible people during the last 5 years, the people who borrowed or lent large amounts of money to buy assets at twice their historical average prices or more. We want to make sure the prices stay high enough to allow vast numbers of people who bought assets with other people’s money to make out well, at the expense of those who saved. What’s for dessert? A surprise.
Dems and Republicans are enacting a little theater on the margins to distract the less bright amongst us. They are united in their primary purposes.
