by Deb Cupples | The Atlanta-Constitution Journal reports:
"Former U.S. House speaker Newt Gingrich, whose criticism helped spark a GOP revolt against the bail-out of Wall Street proposed by the Bush Administration, predicted Saturday that House Republicans would reluctantly support legislation that permits the federal government to purchase and isolate the tainted mortgages at the root of the current credit crisis.
"But Gingrich had harsh words for President Bush, who he said doesn’t understand the situation, and for Treasury Secretary Henry Paulson, who the former speaker said — for the first time — should resign."
"The former Georgia congressman also demanded that the final version of be bill be posted on the Internet for 24 hours before Congress votes on the package.
“'That will let you flush out the kind of hidden, secret deals that crop up, that the press finds two weeks after something’s been voted on,' he said." ( AJC)
During those first few paragraphs of the article, Mr. Gingrich seemed to make real sense. Unfortunately, the sensible parts were followed by this:
"'They may have to, in the end, tolerate some of this. Because in the end, you have the Democrats desperate for socialism now.'" (AJC)
Desperate for socialism? Give me a second to stop laughing.
The most costly socialistic proposal came from President Bush (a Republican -- no, the Republican in this nation) and a gaggle of his appointees who eagerly aim to funnel 700+ billion tax dollars to Wall Street firms and executives who drove our nation's economy toward the cliff's edge.
Not only do those top-tier Republicans want to give our tax dollars -- with no strings attached -- to executives who acted at best negligently and at worst fraudulently, but those Republicans also loathe the idea of limiting the compensation that executives can take who work for firms that receive our tax dollars.
In short, those top-tier Republicans are advocating not only massive levels of socialism, but also massive levels of stupidity.
Memeorandum has commentary.
Other Buck Naked Politics Posts:
* Tim Cunha for Congress, Florida District 6
* Executives Skate out of Economic Disaster with Millions
* Bailout: Ignore the Sales Pitch -- Bush Plan is Not the Only Option
* What Could we do with $700 Billion (Instead of bailing out Crooks)?
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