1

So few people are writing sensibly on this, and to me one of the reasons seems clear:

Many of the writers live in NY or DC, both of which are, although larger, as insular as any small town in Appalachia.  The current crisis, although good for America in the long run (and for some, such as conservative local banks, the short run), is terrible for both NY and DC.  When their little insular world gets shaken, the writers at NRO are mostly going to throw principle right out the window and cry like little girls.

Hell, as an independant trader, I should be for the bailout on a strictly self-interested basis.  It would make things much more predictable for the way I like to trade, as I'm personally terrible at trading short-term political uncertainty, to the point where I just close everything out and watch from the sidelines.  I have a bit more self-respect than that, however, and would rather stand on principle for an issue that I consider this important.

2

Many of the writers live in NY or DC, both of which are, although larger, as insular as any small town in Appalachia.

I grew up in one of those insular Appalachian towns, and when I moved to DC I was surprised how similar it was.

Full of Democrats.

Everyone knew everyone else's business. 

Excellent metro system....errr....

3 The problem with your approach is that not only will it lead to years of economic disruption, it will most likely lead to a vast increase in government control of the economy.  As I pointed out in a number of comments over at Ace's after the 1929 crash it took 40 years to get rid of a substantial portion of New Deal regulation.  I don't feel like letting the Dems have control of the economy for another 40 years.

We can build a fireline with this bill or we can watch the American economy be destroyed through rampant regulation.

4

chad --

First of all, the government can't really do jack shit about the economy.  All they can do is shuffle piles of money from one place to another or print money.  We're going to have years of economic distruption with or without the current POS bailout.  The time to pay the piper for the excesses and irrespnsibility of the last 10 years (or so) seems to be now.  So be it.

Second, the current bailout proposal is a "vast increase in government control of the economy".  One which, with the government involved, is bound to be terribly inefficient.  I'd rather shoot this down, and take my chances fighting the next "solution" that comes down the pipe.

Finally, the situation isn't completely analagous to the Great Depression, as we're already so heavily indebted as a nation that we simply can't afford more government programs.  Sure, the pols will try to pass what they can, but the public is already furious and sick of both parties.  I think the pols are going to find it increasingly difficult to borrow from the future or steal from Peter to pay Paul.

So, I'm not going to sweat the 'fireline'.  Certain institutions need to burn.  Let 'em.

5

The problem with your approach is that not only will it lead to years of economic disruption, it will most likely lead to a vast increase in government control of the economy.

So why not cut out the middle man, pass the Paulson plan,  and go straight to the government control, right?

6 I don't know how you get government control out of a purchase of assets, but I do know that if you want a return of government control via excessive regulation then they path you are advocating is the way to go.

7

Whatever dude.  I get it.  The sky is falling.  We have to destroy conservatism to save it.  Yadda yadda yadda.  I'll make sure to wear my hardhat when I'm outside so I don't get hit by any of those sky chunks.

 

 

8 Actually at this point I am hoping that the bill fails, credit markets collapse, Obama gets elected, and he gets to appoint 9 Supreme Court Justices and Dems end up with 70 votes in the Senate just so we can stay true to conservatism.

9 Chad, what was it about the astroturfer's having white bread names?  Do you happen to be a Concerned Christian as well?

Assuming that you are a conservative, buck up and start acting like one.  It is easy to be a conservative when things are going well. Things are not going well now.   This isn't the moment to turn our backs on everything.  This is the time to stand firm.

This is the moment we separate the real conservatives from the fake ones.

10 Chad's not a an astroturfer.  I'm not really sure what to think on the bailout yet, so I'm not going to make a judgment yet. 

I will say in a general sense that we do have to make stands somewhere, some conservatives and "conservatives" are ready to compromise with the Democrats until they've compromised us to the edge of the cliff, where we'll promptly be shoved over the edge.  I'm not about that, we saw what happened when the squish Tories pushed out the Thatcherites, Labour has taken over there and is becoming rather viciously authoritarian, and it'll happen here too if we don't make a stand somewhere.  Is this the issue to make the stand?  Dunno.

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