Other options, posted October 1, 2008 at 11:24 AM
Dem super-funder George Soros has thrown his hat into the ring of those who are offering alternative economic rescue plans. I don't know enough about economics to compare and contrast the Bush/Paulson bailout with this new proposal on a point-by-point basis, but I can say this: the Soros plan addresses the mortgage crisis where the Bush plan does not. So right there it is worth consideration. The best thing about the failure of the Bush plan in the House is that new alternatives are popping up all over the place. Yesterday the House Progressive Caucus issued a plan--which in my initial investigations doesn't seem to have much support among economists of any stripe. But at least people are putting their heads together to come up with a solution without simply swallowing the bullshit rush-to-rob-the-poor solution that the Bushies have tried to ram down the country's throat. We'll see. I'm pessimistic about what the Democratic leaders in Congress will finally do, but taking a deep breath and considering some alternatives is never a bad thing.
Meanwhile, the jackasses over in the Senate are still considering the Bush/Paulson plan, except to make it more enticing for the House Republicans they're including--get this--tax cuts in it. And that red stuff all over your computer screen? That's my head exploding.