Bush’s pep talk

Tonight (9.24.2008) the President informed the hoi polloi that the America must implement the Plan if the country wishes to avoid an economic disaster. What would the Plan accomplish? According to Bush:

It would remove the risk posed by the troubled assets, including mortgage-backed securities, now clogging the financial system. This would free banks to resume the flow of credit to American families and businesses.

Any rescue plan should also be designed to ensure that taxpayers are protected. It should welcome the participation of financial institutions, large and small. It should make certain that failed executives do not receive a windfall from your tax dollars.

It should establish a bipartisan board to oversee the plan's implementation, and it should be enacted as soon as possible.

In other words, the Plan ought to protect American citizens, which it would accomplish by removing the risks posed by the near worthless assets now vexing the big financial institutions. It would place the burdens posed by these risks on the American citizens as a whole. Americans would derive a great benefit from their act of kindness. The benefit would take the form of an opportunity. The plan will enable the financially strapped commoners to put themselves further into debt to the financial institutions that manage to survive the crisis! Furthermore Americans can rest easy knowing that their government will justly implement the Plan because members of both parties will oversee its execution!

Why would Americans need good jobs working in a diverse and growing economy when dollars are so cheap?

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