Legal Commentary

BushCo Leaving Office As "Socialists?"

By Big Tent Democrat

You know who I really want to hear on this, John McCain:

President Bush and the Treasury Department signaled on Friday morning that they stood ready to use some of the $700 billion bailout program for financial institutions for the Big Three car makers, after Republican senators refused to support a compromise proposal to rescue the automakers. “Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms,” said Dana Perino, Mr. Bush’s spokeswoman, in a carefully nuanced statement released just minutes before the New York financial markets opened. “However, given the current weakened state of the U.S. economy, we will consider other options if necessary — including use of the TARP program — to prevent a collapse of troubled automakers.”

John McCain had a lot to say about "socialism" during the campaign. I am curious to hear him on the subject now. I think we all know President Bush is trying to avoid being a modern day Herbert Hoover. But will the GOP stick to Hooverism as its competing vision to the Democratic agenda?

Speaking for me only

Full post as published by TalkLeft on December 12, 2008 (boomark / email).