I appreciate Ace of Ace of Spades staying true to his beliefs and arguing against most conservatives who are opposing the bailout. He brings up some good points. Personally, I believe that some sort of bailout needs to happen, but it needs to be a bailout that doesn't increase the socialization of the industry. This plan would have been acceptable to me given the drastic situation Ace describes, but I applaud House Republicans who are working for a better proposal.
I am not an economic alarmist myself and I get my take from people who aren't economic alarmists.
So when they suddenly become economic alarmists, I'm alarmed.
Incidentally, don't mislead yourselves into thinking I'm unaware that I'm taking an unpopular position and it could cost me traffic, and readers, and therefore salary.
100-1 against. I know this. I know this is a Schiavo-level split, the same sort of split that caused readers to abandon some blogs.
So I do know that I could actually gain traffic and readers by rah-rahing the KILL THE BILL position.
But I can't. Because I honestly think most conservatives are very wrong on this.
And not only are they very wrong, they're very wrong with possibly dire consequences. And not only that, there's the possibility that all faith in capitalism will crater and we'll have three generations of real socialism.
Ace is correct here. Something needs to be done. And then our leaders need to make sure the public knows who and what policies caused this mess to begin with.
This is yet another reason why Ace of Spades will be rated much higher next time I list the best conservative blogs.
UPDATE: And then in his comments section, Ace comes up with the best solution I've yet heard to the problem:
Fine, here's your "Free market solution":
Every American taxpayer is allowed to buy into this pool to purchase Troubled assets exchanging 1:1 their tax liability for shares. Any profits later made are untaxed. If you invest 5000, you deduct 5000 straight off the top of your tax liability. All voluntary
How's that sound?
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