Rush Limbaugh's Opposition To The Bailout - The Real Reason For The Failure - Not Pelosi

[Median Democrat]

Rush Limbaugh's opposition to the bailout explains the House GOP's decision to oppose the bailout by 2/3. Essentially, it is pure free market. If banks begin to fail one after another, that's a good thing, because that is the free market. All government intervention is bad. Thus, in the interest of idealogical purity, they are cheering on the collapse of our financial system.

http://news.yahoo.com/s/nm/20080926/ts_nm/us_financial_bailout_conservatives

/snip

GINGRICH SPEAKS OUT

Conservative icon and former House of Representatives Speaker Newt Gingrich told Boortz the plan was a bad idea made worse by the intervention of liberal Democrats who wished to add provisions that would enrich lawyers and further weaken the economy.

Thankfully, conservative Republicans had put a stop to it, said Gingrich.

The plan puts conservatives in a bind, and that it was proposed by a Republican president further blurs distinctions, said Alan Abramowitz, a professor of political science at Emory University in Atlanta.

Either they swallow it, violating free market principles they hold dear, or they oppose it and risk seeing confidence in the free market system evaporate.

"This is an ideological problem. If you are conservative and you believe in small government and the free market, if you fail that's your problem. That's the way the market is supposed to work," he said.

/snip

[Mz Pip]

1. Yikes!

What stupidity. Bank failure was a huge part of the casue of the Depression. Does he really want to go there again? It wasn't pretty.

[Bread and Circus]

2. If the bill had passed and actually worked it would have been the deathknell

to Reaganism once and for all.

This way, they can still maintain the illusion that somewhere somehow in some fantasy land, Reaganism works.

[global1]

5. Trickle Down - I Haven't Even Gotten A Drop .......nt

[PM Martin]

3. And the economy depends on these banks staying afloat.

We need to money to live. Millions of businesses depend upon lines of short term credit to keep in business.
Hundreds of millions of people use credit cards every day. That is a line of short term credit. If all of these lines
go into default, we are all destined to sink like the Titanic.

Conservatives are insane!

[leftist.]

4. He said today that the bailout was a "political ploy" by the Democrats.

He also said that he wanted McCain to win by a landslide so that liberal Democrats would kill themselves. Good stuff :eyes:

[maseman]

8. Wasn't it Paulson and Bush the ones who brought it to Congress?

So which the fuck is it Rush? IS Bush, Paulson, Bernake, CHeney now Dems? The pile of bullshit is mounting from the right.

[Median Democrat]

13. Its Too Bad That Rush Can't Be Held Accountable

The House GOP pretty much follows his lead, which is why they really can't explain their opposition or offer an alternative, because the truth is "because Rush said so."

[kerry-is-my-prez]

6. The freepers were hard at work e-mailing/calling congress too......

n/t

[frickaline]

7. So nice that they would listen to Rush/Newt over Warren Buffett

but what would that guy know about business anyway.

[Median Democrat]

10. You Know They Love Social Darwinism - If You Don't Let The Weak Perish...

Then the strong will not have a chance to rise to the top. For all the blame being given to Pelosi, the fact of the matter is that the RW wants weak banks to fail, because that is the market at work. It is an idealogically pure stance that ignores reality, which resembles much of the Bush presidency.

[npk]

9. Hopefully he will soon be out of a job

When people can no longer afford to purchase the products of his stations sponsors.

[Jennicut]

11. Yes, it is laize faire economics except they got us into this and now they won't help get us out.

Thanks House Rethugs! :banghead:

[Median Democrat]

12. McCain/Bush's Biggest Mistake - They Ignored Rush Limbaugh

Limbaugh essentially controls the House GOP. I recall reading comments by Alan Greenspan in which he was asked to get on the phone with Rush to try to get his support. However, there is no evidence that either Bush or McCain got on the phone to try to placate Rush Limbaugh. Instead, they ignored him, and he killed the Bill. The House GOP simply follows whatever Rush has to say.