“With that capital in hand, not only do we feel comfortable that we can ride out the recession,” he said, “but we also feel that we’ll be in a position to take advantage of opportunities that present themselves once this recession is sorted out.” --(quote from Down With Tyranny)This is another Bush Consequence. There is no bailout. Just another transfer of public funds to the wealthy and crooked.
Down with Tyranny concludes:
... We haven't seen Obama stand his ground on one contentious issue yet. This would be a good one to start with, although with Republicans playing games with the confirmation of his Treasury Secretary, Tim Geithner, who knows what kinds of foul compromises at the American peoples' expense will have to be made.I hadn't thought of it that way, but it's true Obama has not stood his ground on even one contentious issue. He can start with the 'bailout' and torture. If he doesn't stand now he never will. It will be a real shame if Obama just waffles away his popularity being yanked one way and another trying to satisfy the Republican destroyers and the talking-head ignoramuses all the time legitimizing Republican slogans like 'fix' Social Security. Speeches alone will not continue to work without substance. If Obama should decide to do the right think about torture and oversight he has the rhetorical ability to explain and get backing from the citizenry. Will he?
Crawford has exposed to bright sunlight the lie that is Barack Obama's, and other politicians', simple minded reliance on the Army Field Manual as cover for their torture reform credentials. Interrogators can stay completely within the Army manual and still be engaging in clear, unequivocal torture under national and international norms, laws and conventions. [...] This is the lie. The Army Field Manual provisions, especially with those pesky footnotes like "Appendix M", leave a wide open path for torture. ...
--Obama, The Crawford Torture Admission & The Army Field Manual Lie by bmaz, firedoglake.com
It's hard for me to believe that we are going to have this conversation while the government is giving hundreds of billions of dollars to bankers who see it as a handout to be used to enrich their stockholders and themselves. And I am as stunned as I always am that we are going to have this conversation while the government insists that the United States must spend more on its military than all the other countries in the world combined.
--Sacrifice by digby, Hullabaloo