Monday, September 29, 2008

And Don't Forget that Part about How the Bailout Would Be Financed by China and India

CM Emily Evans explains what brought us to the point of bailing out the finance industry and why mostly Democratic Davidson County should call Republican Senator Bob Corker.


  1. What in the world difference does that make? - Emily

  2. If you're referring to the title (because there's nothing else that is remotely critical in the post), it makes the same difference that you see in making sure people understand how we got where we are. In the future there's a good chance we'll be hit with the down side of being beholden to China and India (something akin to the crisis of our dependence to Middle Eastern oil?). If we're going to accept the risk of the bailout package, we need to be really clear about what precipitates that risk.

    The update on your original post linking here makes it sound like I'm against a bailout. I don't believe that I've ever expressed a specific position regarding an up or down vote. Regardless of how the votes run, I don't believe that we should sugar-coat this deal and ignore exactly what we're getting ourselves into.

    Those bonds you mention are going to come with strings from financiers. As long as we can soberly accept the risk along with embracing the benefits that you are convinced will disappear if this package isn't passed, then by all means, let's bail. But let's not make the mistake of assuming that it is different than any other Bush borrow-and-spend revenue policy that usually benefits his buddies at the top of the profit scale.

    I trust you'll add my comments as a clarification to your "Update" swipe (my last name is spelled, "Byrd").