Explaining Paulson's plan better than Paulson.
Not a crazy idea. Everybody hates the "hedge fund creeps." And the need for Obama to turn on his own party's leaders (because both parties have effectively been bought by Wall Street) is a feature not a bug. ... Suggested tweak: It's not that Big Finance high earners were greedy, or necessarily lacking in "decency," or that they "[sold] out the economy." They're supposed to be greedy. Their greed was supposed to drive them to create innovative new financial instruments and risk-avoiding strategies that would benefit everyone and justify their absurd paychecks and--here's the winning social-egalitarian theme--the sense they exuded that they were better and smarter than even their Ivy League classmates who went to med school, let alone non-college graduates on "Main Street." The problem is simply that their innovative deregulated instruments and strategies--carefully protected by bipartisan mercenary lobbying--didn't work, producing a calamitous meltdown. Whether they knew this would happen or not doesn't matter. They "screwed up," as Rosenbaum says. Yet they're keeping the inflated paychecks, the lobbyists and (so far) their dominant place in the economic and social pecking order. Wouldn't hurt to humble them. ... 6:22 P.M. link
McCain on the Follieri Yacht. Moral: They're all celebrities. [Even Biden?--ed. I'm thinking ...] ... 12:42 P.M.
Wednesday, September 10, 2008
Ann Coulter responds, on behalf of getdrunkandvote4mccain.com, to the argument that conservatives should consider that McCain is more likely than Obama to actually enact "comprehensive immigration reform" with its misguided semi-amnesty for illegal immigrants. [See the little column on the right side of her blog, linked above.] Excerpt:
Even assuming McCain were more likely to enact "comprehensive immigration reform" than Obama, the difference is between a 10% chance and a 9.99999% chance.
Meanwhile, Obama is more likely to jump-start Islamic terrorism by rapidly withdrawing from Iraq and insanely sending more troops to Afghanistan and bombing Pakistan. In a few years, it won't matter how many illegals we have -- they'll be forced to convert to Islam like the rest of us.
I'd say the difference is more like a 50% chance of passing a semi-amnesty under McCain, compared with a 20% chance under Obama, who will have lots of other things to do and lots of Dem Congresspeople from swing districts he doesn't want to endanger. Amnesty is irreversible, remember, as will be many of its consequences (e.g., an incentive for more illegal immigration, plus a change in the electorate, creating pressure for further amnesties, etc.). ... Meanwhile I think Obama would, overall, put a damper on world terrorism by automatically and at least temporarily lowering the planet's anti-Americanism quotient, translating into fewer radicalized recruits with less tacit support from their neighbors. (Even John Kerry would have done that.) ... Will Obama want to go down in history as the President who snatched defeat from semi-success in Iraq? It's a worry, I agree! But it was much more of a worry before the perception sank in among voters that the "surge" has succeeded. ...
P.S.: What's Coulter's case against sending more troops to Afghanistan? Needs fleshing out! Coulter and the Code Pink protesters in my Venice neighborhood have more in common than I thought. ...
Update: Mark Krikorian, who knows more about the subject than I do, seems to back me up on the legislative odds. ...
Update 2: Obama today tells the Congressional Hispanic Caucus "this election is about the 12 million living in the shadows" and pledges
Photograph of John McCain on the Slate home page by Alex Wong/Getty Images.