Who has questions?

So I got an email from an aide to one of the House Republicans on the Financial Services Committee; apparently he’s available for interviews about the financial situation. What questions would you all like to see me ask him, assuming I can arrange it?

A senator speaks

John Hawkins interviews Sen. Jim Demint about the bailout:

JH: I can tell you that people are furious about this. I know at my blog, I did a poll and 85% of the people opposed this. People think they’re being asked to throw their money away on a massive scale to pay the bills for people who behaved irresponsibly. Are they right?

JD: They’re exactly right. People are mad. I am getting hundreds of calls a day and it’s 100 to 1 against this. …Even banks like BB&T say that they don’t want this because they know what it means: the government is going to get involved in their business whether they take their money or not….

So, people have every right to be angry and that anger needs to continue…. We’ve seen that Americans getting angry and involved helped us defeat this whole amnesty proposal and it helped us spotlight wasteful earmarks, which we’re making some progress on. It has brought the energy issue to the point where we have backed the Democrats down from this drilling moratorium. We’re making progress on this bailout.

…The problem we have politically is that the President wants this so that he’s not the President who presides over a catastrophe. He’s willing to give the Democrats all the regulations and intrusions in the market that they want if they will help him pass it.

Basically, everyone with even a shred of common sense is against the Bailouts for Bankers plan, except, of course, the larger part of the conservative commentariat, which demonstrates once more that it is far too comfortably in bed with Washington to be taken seriously by any actual conservatives. Between the political leadership of George Bush and the media leadership of National Review, is it any wonder that the Republican brand looks about as good as Union Carbide’s post-Bhopal?

How should America respond?

“To preserve their [the people’s] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude” – Thomas Jefferson

I completely agree with Thomas Jefferson; in my view, the attempted bailout must be shouted down. The reckless air of entitlement demonstrated by veteran Wall Street champions like Larry Kudlow – who seriously states that he cannot support a bailout if limits are placed on executive compensation because that would “represent a huge first step into government interference” – is unbelievable. How would THAT be the FIRST step considering that this is the fifth federal intervention this year alone? Keep in mind that the very men demanding that Congress pillage the taxpayers on their behalf are precisely the same men who paid themselves 38 billion in bonuses just last year – let them bail their corporations out of their own pockets, not ours. If they’re so desperate for a bailout, then why doesn’t the government simply take that 38 billion and use it for the initial funding? Taking ten years of bonus money from the Wall Street crew would provide more than half the funds supposedly required.

UPDATE – Britain’s five leading high street banks have as much as £95.3 billion ($175 billion) of distressed assets on their books that may qualify for the American bailout scheme.” I don’t know about you, but I suspect the average American doesn’t truly give the smallest damn that can be detected on a helium ion microscope if a British or Indonesian bank happens to lose money on its investments.