The Milwaukee Journal Sentinel, gripped by the delusion that Paul Ryan is some sort of serious politician rather than a hack whose ideology was dusty in the 1890s, says this:
Rep. Paul Ryan of Janesville joined House Republicans who unveiled an alternative to the plan being crafted by congressional leaders and the Bush administration.
Under the House Republican plan, the government would offer companies insurance for their mortgage-backed securities for a premium. The government would pay up only on those that default. The government already insures roughly half the nation’s mortgage-backed securities.
“We have to do something to address this crisis,” Ryan said. “We think the insurance model works.”
The Journal Sentinel fails to tell its readers that
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Treasury Secretary had previously dismissed this idea -- which had not been previously raised by House Republicans -- as unworkable. Not to mention pointless.
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Paul Ryan thinks a way out of the credit crisis is ... get ready ... tax cuts!
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and... more tax cuts!
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and ... a blue-ribbon panel!
Reasonable people can disagree on the shape and scope of the bailout. But the "plan" pushed by Ryan is not a plan, it's ideological posturing (with which John "I need to work on the economy" McCain apparently agrees).
Here's some insight into the hive mind of House Republicans:
"According to one GOP lawmaker, some House Republicans are saying privately that they'd rather "let the markets crash" than sign on to a massive bailout.
"For the sake of the altar of the free market system, do you accept a Great Depression?" the member asked."
And here's more:
God Himself couldn't have given rank-and-file Republicans a better opportunity to create political space between themselves and the Administration. That's why I want to see 40 Republican No votes in the Senate, and 150+ in the House. If a bailout is to pass, let it be with Democratic votes. Let this be the political establishment (Bush Republicans in the White House + Democrats in Congress) saddling the taxpayers with hundreds of billions in debt (more than the Iraq War, conjured up in a single weekend, and enabled by Pelosi, btw), while principled Republicans say "No" and go to the country with a stinging indictment of the majority in Congress.
...A bailout may be inevitable, but so to can be the political benefit for Congressional Republicans if played correctly.
The Brawler agrees withSadly No!'s Brad and his Cheneyesqe language:
It’s time for the Democrats to call the GOP’s bluff. They have to hammer the SOBs and tell them that they had a deal all set before John McCain and his big fucking ego decided to ride in on his white horse and fuck everything up. They cannot allow themselves to be used as pawns to get John McCain elected.
Democrats, give them the finger and walk away until they meet your demands. And then go on television every day and loudly blame for the coming stock market crash. Crush them and don’t stop crushing them until you’ve won.
The Brawler assumes that Paul Ryan will place a very special phone call to a knee-pad-wearing Charlie Sykes this morning.
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