Wednesday, September 07, 2011

Turning America into Detroit

The congresscritters in Atlas Shrugged said things similar in meaning, but not one of them was so dumb as Maxine "Moral Hazard" Waters.
If they [banks] don’t come up with loan modifications and keep people in their homes that they’ve worked so hard for, we’re going to tax them out of business
The ways in which this is stupid are beyond counting, but one has to wonder what is Ms Waters plan if she destroys all the banks. Didn't we just get done bailing them out?* Are they suddenly too resistant to making more stupid loans not to be forced to fail?

Ms Waters, of course, is the congresscritter who threatened to nationalize the oil companies, "[T]his liberal will be all about socialize [sic]...er, ah ... basically, ... about the government taking over and running your companies!" One can presume she means the same thing when threatening to tax banks into extinction. The "government taking over your banks and giving them to Fannie Mae." We know how that's worked so far.

Even aside from its lack of conciseness, "the government taking over and running your companies," is not a good euphemism for "socialize." It is far too straightforward. But Maxine Waters apparently didn't even get the memo that the proper description of her statist policies is "progressive," which at least has the virtue of moving the statists away from their appropriation of "liberal." A word that doesn't mean what they've turned it into.

*Including her husband's to the tune of $12 million.

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