• Posted on Tuesday, September 30, 2008
  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here

Commentary: The economy's toast, thanks to timid Congress

email this story print this story jump to comments

Such a fine day for an apocalypse. Gray skies. Rainstorms roiling across South Florida. Thunder claps that sent my dog cowering under the desk.

Then Congress, in a burst of populist self-destruction, sent me cowering like a canine.

My initial inclination was to suspend my column, go back to bed and stay there until someone fixes this mess. But I'd develop bed sores before we get leadership with the courage to buck the angry masses.

Maybe I can say the forbidden words, given that I'm not running for office.

We're cooked.

And what a spectacular act of self-immolation. The U.S. House of Representative, voting 228 to 205, killed the bill designed to resuscitate our moribund financial markets Monday. Frantic lobbying by the president and party leaders and the super duo from Treasury and the Federal Reserve failed to persuade enough members of Congress to buck popular opinion.

It didn't much matter that without massive government intervention, the nation's lending mechanisms might seize up like an old clunker's transmission. South Florida, with a real estate and construction industry utterly dependent on free-flowing lines of credit, might as well convert those half-empty condo towers to recession-proof enterprises. Think high-rise prostitution.

Read the complete story at miamiherald.com

  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here
JOIN THE DISCUSSION

We welcome comments. To post one, you must sign in using either your McClatchyDC login or your login for Facebook, Twitter or Disqus. Just click the appropriate box below.

Please keep your comment civil, short and to the point. Obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. If you find a comment abusive or inappropriate, please flag it for the moderator by placing your cursor on the comment, then clicking the "flag" link that appears. Thanks for your participation.

Stay Connected

Sign up for email newsletters RSS
Follow us on your iPhone Follow us on your Android device
Follow us on Facebook Follow us on Twitter Follow us using Google Currents