Notes on the Bailout

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NOTES ON THE BAILOUT….Sorry for the radio silence this afternoon. I spent most of the day feeling about the same way I did on 9/11, consumed with a debilitating combination of fury and despair. I don’t feel much better tonight, but here are a few thoughts on the failure of the bailout bill anyway:

  • The Republican Party is now officially hostage to a band of primitive conservative ideologues whose knowledge of economics was already outdated when Christians were being fed to lions. They are simply beyond belief.

  • I’m not much happier with the Jello-like support the bailout bill got from many of our leading liberals. Unfortunately, I include Brad DeLong in this group, but he’s certainly right when he says, “This Republican Party needs to be burned, razed to the ground, and the furrows sown with salt…”

  • John McCain deserves to be tarred and feathered. His behavior over the past week has been almost unbearably craven.

  • Barack Obama’s behavior has been a little better. But only a little. He hasn’t exactly displayed a backbone of steel on this issue.

  • An awful lot of people really, really still don’t get it. I swear, if I hear one more blogger or pundit suggesting that maybe it’s actually a good thing the bailout bill failed because now we have a chance to pass an even better bill, I’m going to scream.

  • After the failure of the bill, the GOP leadership invented a fairy tale about Nancy Pelosi being at fault for the vote debacle because she gave a partisan speech on the floor of the House. The press is almost unanimously reporting this seriously. If Republicans had blamed it on Santa Claus, I guess they would have reported that seriously too.

  • Do you know the old saying about credit? “It’s like oxygen. You don’t know how much you need it until it’s gone.” We’re about to go into financial hypoxia, and it’s not the millionaires who are going to suffer most from this.

  • There are many of you who probably think I’m overreacting. I hope you’re right.

And if you think this post is too caustic and bleak — well, you should have seen the first draft that Windows ate. This is the toned down version.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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