SAVED BY GOV'T? ( Christopher Dodd mentioned )

Our elected representatives sold the "American Recovery and Reinvestment Act of 2009" as a stimulant for the economy, but it is, in fact, Viagra for the leviathan state. The legislation effectively repeals welfare reform, the single most successful domestic policy of the '90s.

Not only are we nationalizing the banks, but the legislators overseeing the banking industry regulate about as well as I play the left-handed harpsichord.

Christopher Dodd, chairman of the Senate Banking Committee, got a sweetheart mortgage from Countrywide and carried water for Fannie Mae like Gunga Din. He should be testifying before his own committee in an orange jumpsuit in exchange for early release; instead, he's spewing righteous indignation about the malfeasance of the people who used to buy him lunch.

Meanwhile, a bunch of bank CEOs appeared before the House Financial Services Committee this week. Don't get me wrong: These executives should be holding cardboard signs on the side of the road these days ("Will Float Derivatives for Food"), but they at least know what they're talking about. One congressman after another berated the CEOs for making bad loans and having shaky balance sheets. Fair enough. But they also berated them for not using bailout money to make more bad loans, which would keep their balance sheets shaking like Keith Richards at a detox spa.

"Everyone's a capitalist on the way up and a socialist on the way down" is kicking in. The thing is, if you're a socialist on the way down, you were never really a capitalist on the way up. Capitalism requires putting your own capital at risk.

And as sure as shinola, when government fails again, we'll be told that only government can save us.

“They just couldn’t think of another way to put the money in the hands of the people on the bottom.”
Thanks to the efforts of groups like Acorn, we now have dredged the bottom of the barrel and have given them cabinet positions. Fear not, however. At the pace the DemonRATs are going, they should manage to have our economy on a par with Mogadishu by years end.

Thanks george76. The author has a way with words (I added emphasis):

the "American Recovery and Reinvestment Act of 2009" as a stimulant for the economy, but it is, in fact, Viagra for the leviathan state. The legislation effectively repeals welfare reform, the single most successful domestic policy of the '90s.

Not only are we nationalizing the banks, but the legislators overseeing the banking industry regulate about as well as I play the left-handed harpsichord. Christopher Dodd, chairman of the Senate Banking Committee, got a sweetheart mortgage from Countrywide and carried water for Fannie Mae like Gunga Din. He should be testifying before his own committee in an orange jumpsuit in exchange for early release; instead, he's spewing righteous indignation about the malfeasance of the people who used to buy him lunch.

Meanwhile, a bunch of bank CEOs appeared before the House Financial Services Committee this week. Don't get me wrong: These executives should be holding cardboard signs on the side of the road these days ("Will Float Derivatives for Food"), but they at least know what they're talking about. One congressman after another berated the CEOs for making bad loans and having shaky balance sheets. Fair enough. But they also berated them for not using bailout money to make more bad loans, which would keep their balance sheets shaking like Keith Richards at a detox spa.

"Everyone's a capitalist on the way up and a socialist on the way down" is kicking in. The thing is, if you're a socialist on the way down, you were never really a capitalist on the way up. Capitalism requires putting your own capital at risk.

And as sure as shinola, when government fails again, we'll be told that only government can save us.

Capitalism requires putting your own capital at risk.

Exactly! All the good capitalist are sitting this one out due to the excessive risk from the government. The Obama administration is making up the rules as they go along.
The scariest sight I saw this week (besides the stimulus bill passing) was Obama addressing a room full of business leaders about a government/business ‘partnership’.
Reminds me of the old saying,
When you take the devil as your partner,
You’re the junior member!

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Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"