Like a scene out of Frank Capra's It's a Wonderful Life, people of normal
calm were tossed into a bank-run frenzy Monday when the US House of Representatives
voted down President Bush's $700 billion parachute for the buckling American
financial industry.
Politicians of all stripes turned to the easiest response, of pointing
fingers. On this side of the border, the reactions from the campaigning
leaders were predictable -- Smilin' Jack wanted an immediate hootenanny to
talk about possible WPA programs; Sweater-wearing stiff Harper dug into his
pockets and offered the equivalent of belly-button lint ("Here, these tiny
tot tax credits should keep your mortgage afloat another day").
"We cannot pretend that Canada will not be affected by what George Bush said (Wednesday) night. And he said that our entire economy is in danger...(Harper) has allowed our economy to hit a brick wall," (Stephane Dion) said. "Canadians have to ask themselves, do we really want more of this? Can Canadians afford more of this?"
Harper's whole routine has been that of pretending first that he smells no smoke. Then, he covers his ear and says 'What siren?' As he walks out of the burning building, he asks 'Do you feel warm?'
His strategy behind breaking campaign promise #34 is fairly obvious now, even to thick headed CON rubes. Beat the meltdown and then ride it out. And an economic recession will create the perfect scenario for the rumoured 'slash and burn' agenda that he keeps hidden under that sweater.
But the signs of trouble have been around for over a year. To help prepare us for the possible financial genesis, Harper began spending like Paris Hilton. Nothing was too good for his 'boys'... Soon, that big fat contingency fund was mere wallpaper money for the focus-group room. Does he deserve some blame, despite the roots of the collapse coming during the Bush error? As Austin Powers would say, Oh Yeah Baby!
There are plenty of suspects that fingers should be pointed to, lest the
ghosts of R.B. Bennett and Herbert Hoover (Calvin Coolidge, you're off the
hook again!) shake their jacob marley-esque chains in defiance.
Thanks to those Bush economics, much of the problem has created a
firetrap for pensioners, mortgageholders and investors, big and small.
Banks across the globe are scared to look in their files, aware that bogus 'wobbly mortgage' bonds lurk.
And Harper's answer, at least while his job remains on the line? "What me, Worry? I'll leave that to the rest of you suckers."
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