Our lack of leadership...

Fast on the heels of my last post, I see that the President has called the Treasury Dept. to invest as much as $200 billion (above the $700 billion already slotted for the financial crisis) in buying shares of failing banks across the country. No Executive Order calling for a moratorium on the capital gains tax (which he could do for up to two years, forcing even Obama, should he win, to leave it alone until '10), or an 18-month reduction in the corporate tax rate of 15% across the board... hell, he didn't even sound positive in his radio address! No President has used worlds like "crisis of confidence" since Carter in 1979... and that didn't do HIM much good, either.

John McCain opened his debate last week with the promise to buy $300 billion dollars of bad mortgages... which would make the US Federal Government the largest domestic property holder in the nation, seeing as how the mortgages in question are all DEFAULTED loans! Imagine, the McCain White House managing 1.5 MILLION homes as either resales or rentals, in a market where the average property value has fallen by more than 25%!

Whose voice do we hear from Congress during these troubled times? We hear the voice of Harry Reid asking why there was no regulation of the GSE's? We hear the voice of Nancy Pelosi blaming Bush and his tax cuts for the current financial "meltdown". We do NOT hear the voice of the minority party... NO Republicans are stepping onto the floor or getting into a reporters face and demanding that the credit fall where it should. No one is asking for Reid or Pelosi's past voting records to show what they did to avoid this problem, are they?

At this point in the game, what do Bush, McCain, or the GOP have to gain by calling for "bipartisanship" and "cooperation"? Nothing in the actions or records of Pelosi, Reid, or any of the other DNC leadership can possibly indicate that they would even be WILLING to participate in honest cooperation... SO WHY CONTINUE TO ASK FOR IT???

Determine a course of action, and FOLLOW IT! The man (Bush) has until January to put HIS solutions into effect (at least those he can do without Congress), and at least he could show that the GOP can be proactive OUTSIDE of invading Iraq, when they choose to be.

I'm not an economist, but when the mortgages failed and the Feds froze bank-to-bank lending... wouldn't one expect SOME banks to begin to suffer after a while? Did NO ONE realise that whatever solution was adopted and enacted by Congress, there would be a "waiting period" before things started to happen?

With the obvious exception of 9-11, there has been no better time over the last 8 years for George W. Bush to stand up and show some spine. THIS is the face of G.W. that I can't stand! Put away the smug Texas grin and FUCKING DO SOMETHING! Anyone can say with a smile "Don't panic!"... Douglas Adams made the phrase famous, and he's a comedic writer, not the President... I want to see our President LEAD. Use the Rose Garden, or the Press Room to SHOW the American people exactly how this problem started... corrupt Government sleeping with corrupt financial institutions since 1972 (and longer!). Point the finger at Pelosi, at Reid, at any Dem that argues the point... it is IRREFUTABLE. If it weren't playing into the Dems hands, I'd say point the finger at Mac, too! $300 BILLION in bad mortgages??? THAT'S a good investment for the nation?

Sounds like a long and convoluted path that nationalized housing, to me.