When Socialist Experiments Explode

In the James Dean movie "Rebel Without a Cause," reckless hoodlums steal cars and play chicken, racing them to the edge of a cliff. Whoever jumps out of the car first is the chicken. Sounds like Congress and the Wall Street bailout program.

House GOP members are trying to stick to their free-market principles and stay in the car, but the economy could end up going over a cliff. They're going to have to jump, and the Democrats will call them chicken when they do.

Democrats are keeping the pressure on because they don't want the truth to come out:

Democrats are the saviors of Wall Street fat cats and Republicans are looking out for the taxpayer.

Socialistic government intervention in private markets created this mess. This second truth explains the first truth. Jimmy Carter started a socialist experiment to allow more people to buy their own homes. Guilty do-gooder liberals in Congress loved the idea and forced lenders to relax their standard so more people could get loans. That is the "deregulation" that created all this bad debt that the President tells us is clogging the finance markets, bringing capital flows to a standstill.

Capitalism is apolitical and amoral. Government schemes of this magnitude need private sector cooperation, and Wall Street was happy to help. They funded Hitler, why not this? Wall Street would finance Satan's global takeover if they could make a profit. Fannie and Freddie greased the skids with political cash to its benefactors in Congress. Barney Frankenstein and Chris DodderingOldFool are swimming in political contributions from the same banksters they are now bailing out. See how this works?

This bailout maintains the status quo. Washington can continue to play Santa Claus with your money, and Wall Street can continue to profit from it.

Kevin Hassett at Bloomberg.com makes the best case I've seen for blaming the Democrats. See Jeff Jacoby's explanation of Barney Frank's guilt.