POLITICAL observations & opinions

* NYT editorial: House Republicans, prodded by McCain, gave Americans nothing

Posted by Lew Weinstein on September 30, 2008

An editorial in today’s NYT says …

  • After nearly eight years of voting in virtual lock step with President Bush on everything from tax cuts to torture, House Republicans decided on Monday to break ranks on the survival of the nation’s financial system.
  • Republican no votes were rooted less in analysis or principle than in political posturing andideological rigidity
  • Republicans were also upset that serial bailouts represent a rejection of free-market principles. They do. That’s because the free market in finance, unregulated and unsupervised, has failed. 
  • the imperfections in the failed bill are the result of a democratic process that can be rethought, revisited and reworked. 
  • It is better than nothing, which is what some backward-looking House Republicans gave Americans on Monday.

LMW COMMENT:  John McCain frantically sought to swoop into Washington to bring House Republicans into line in support of the bailout bill. He failed. Barack Obama has remained calm while he respected and supported the legislative process among both Democrats and Republicans, demonstrating the Presidential ability to work for compromise that neither George W. Bush nor John McCain, with their confrontational ways, can match, even within their own party. I suspect that Obama’s less confrontational leadership will ultimately prove successful.



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