Bailout Crisis? What Bailout Crisis?

If the supposed financial crisis on Wall Street is soooooooo severe, then why hasn't a bill passed?  Democrats hold the majority in the House.  If they really wanted to pass some GOOD legislation, they could.  They don't need a single GOP vote to get things done.

The U.S. House voted no and defeated a $700 billion emergency rescue for the nation's financial system on Monday, putting a stop to what some have termed a socialist takeover of the markets.

The vote was 228-205 to reject the bill, with Speaker Pelosi, a Democrat, blaming a baker's dozen number of Republicans for the defeat.  What Pelosi intentionally omitted in her post vote comments, is that 94 Democrats also voted no. 

The Democrats also hold a majority in the Senate.  The Senate has yet to conduct a vote on the financial bailout.  They could hold this vote at any time.  Remember now, every elected official has been crying about how urgent passage is needed.  Many wanted something passed last week.  So why then is the Senate, led by Harry Reid, a Democrat, waiting to conduct their vote?  It's an election year, they wanted to wait and see how the House vote would turn out.

Bailout crisis?  What bailout crisis?  Why all this political manuevering if there is such a crisis?

The bottom line is the House bill was a bad bill.  The country will go through some pain if no bill is passed.  But the dirty little secret is - the country will still go through some pain even if a revised bill passes.  Legislation is of no consequence, there will be pain with or without a bill. 

The truth is we need to let capitalism do it's thing.  We're in this deep of a mess to begin with because government tinkered with capitalism.  Government decisions and tinkering inflated housing prices, government twisted the arms of mortgage lenders to get them to reduce loan qualification requirements, government promised to back loans when it really wasn't in a position to do so.

Nancy Pelosi, Barney Frank, Chistopher Dodd and Barack Obama want something passed because it will cover their butts, not because they truly care about you.