Politico: Some House Republicans would rather see the market crash




Politico:

According to one GOP lawmaker, some House Republicans are saying privately that they’d rather “let the markets crash” than sign on to a massive bailout.

“For the sake of the altar of the free market system, do you accept a Great Depression?” the member asked.

Putting that little bit of horror aside, here’s a quote guaranteed to make you chuckle:

President Bush’s lame duck status, and his heavy hand in dealing with lawmakers in his own party for the last seven-plus years, is also coming back to haunt the White House, as House Republicans grumble that Bush is “trying to tear up the Constitution” by committing the federal government to such a massive intervention in the U.S. financial markets.

Yeah, Republicans caring about the Constitution. Seven years too late, you jerks. They only care about the Constitution when money is involved – their money.

Ok, this is interesting too:

[Michael Steel, spokesman for House Minority Leader John Boehner (R-Ohio)] reiterated that Rep. Spencer Bachus (R-Ala.) — who, as ranking member of the House Financial Service Committee participated in talks on the compromise — “wasn’t empowered to negotiate” any agreement on behalf of other House Republican.

So the top House Republican on finance issues isn’t empowered to negotiate for House Republicans on finance issues. Now tell me who is in disarray and mucking up the entire process. It sounds like there’s a bit of chaos in Republican-land.

“The Republican Party right now is fractured,” said one GOP member who didn’t want to be named. “’Fractured’ is not even the right word…Human nature is taking over.”

This Republican lawmaker said that “there are two or three groups trying to write their own bill, which is virtually impossible. Six or seven of these guys get together and think they can write their own bill.”


CyberDisobedience on Substack | @aravosis | Facebook | Instagram | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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