Nancy Pelosi is beginning to talk more and more about another bail out. Pelosi will keep mentioning this possibility so that by the time it becomes a palpable reality, the American public will be conditioned to accept a new package. Why? As it is most of us can not get our minds around trillions of dollars to start with.
CNN reports that the next go around with bail outs won't be so easily accepted simply because of the bonus fiasco at AIG. News of the bonuses had been leaked weeks ago, so with all the public outcry congress and finally the president say something. Too late? Congress screwed this one up. With all the pledges by democrats to get the money back, Mitch McConnell,R-Kentucky said "I appreciate their efforts. However, it would have been better if this pledge included action two weeks ago when the Treasury agreed to give AIG another $30 billion in taxpayer money,".
Kristi Keck at CNN had this to add: The Bush administration came under criticism for a lack of transparency and accountability in spending the first half of the TARP funds. Obama has promised to do a better job with the second half of the funds, but analysts say he'll be hard pressed the get the public behind him.
Steve Watson at Info Wars has this to say on the entire financial mess: A so called “bailout backlash”, a huge rise in public antagonism toward banks and Wall Street, is set to provide the Obama administration and the governments of the G20 nations a pretext to usher in a new era of international centralization and control over financial practices and institutions.
The last paragraph states a worry-a big worry for capitalism.
