Now that the last banking bill has been rejected by the House, expect Nancy Pelosi to stuff back in all the pro-Democrat crap that was taken out in hopes of bipartisan support, says Larry Kudlow.
As this scenario goes, the House Democrats need 218 votes, and they have to pick up a number of black and Hispanic House members who jumped ship because the Wall Street provisions, in their view, were too benign. So things like the bankruptcy judges setting mortgage terms and rates, the ACORN slush-fund spending, the union proxy for corporate boards, stricter limits on executive compensation, and much larger equity ownership of selling banks through warrants will all find itself back in the new bill. Of course, this scenario will lose more Republican votes. But insiders tell me President Bush will take Secretary Paulson’s advice and sign that kind of legislation.
Worse, Kudlow says we can expect more of this shit from a Democrat Congress and president. He sounds resigned to McCain's defeat in November. I'm not resigned to it because I've still got more faith that Americans won't elect an unrepentant leftwinger, but I have to say that recent polls make me wonder what the hell is wrong with Americans. Do we really have to sit through a disasterous Obama presidency for them to realize what fools they were to vote for this guy?
I haven't decided who I should be mad at. John McCain, who seemingly can't bring himself to call Obama the far-left machine politician he is or at American voters who think Obama is cute.