Went home from work early in order to practice capitalism, thought I’d cough up a lung and sell it on Ebay. While prepping myself for this capitalist venture I caught the following quote on Glenn Beck’s show by Rahm Emanuel, the White House Chief of Staff. This was said back in November to a Wall Street Journal conference of top corporate chief executives.
“You never want a serious crisis to go to waste. Things that we have postponed for too long, that were long-term, are now immediate and must be dealt with. This crisis provides the opportunity for us to do things that you could not do before.”
Hmmm… just this week U.S. Treasury Secretary Timothy Geithner said in a speech something that is strangely reminiscent of Emanuel’s remarks.
“We are going to have to adapt our program as conditions change. We will have to try things we never tried before. We will make mistakes. We will go throughout periods in which things get worse and progress is uneven or interrupted.”
This was unveiling the new “financial stability and recovery plan” which will mean, if I’m understanding this correctly, commit $1,500,000,000,000 to clean up bad assets and $$ for new lending through an expanded Federal Reserve program. As he introduces this he’s already prepping us for failure. That way we get snowed when things tank, and they will, he can just say “I warned you.”
All the while we have porkulus passed and is not surprisingly becoming worse in conference… and perhaps we are missing the game plan through all the pork. A down payment for our trip down the road to socialism.
Please Mr. Emanuel, can we waste this crisis?