Michele Bachmann: Financial crisis is result of "too much government intervention"

[Minnesota Raindog]

You just can't make this stuff up. That's right, Bachmann thinks we've had too much government intervention in the financial markets and that's why their house of cards is collapsing. Even more amazing is her solution: suspend the capital gains tax, slash corporate income taxes and drill in a wildlife refuge.

And this is the member of congress to whom all the media rush to get sage advice on energy and the economy?

http://minnesota.publicradio.org/display/web/2008/09/23/bachmann_economy/

"We're looking at the American public, the American taxpayer, bailing out private businesses. That is not the way we do business in the United States of America." said Bachmann. "We need to engage the free market and capitalism. This financial failure was not the fault of free markets or of capitalism. Rather, it was the fault of too much government intervention."

Bachmann wants to see other changes that she says would help stabilize the sputtering ecomony. Her list includes cutting the corporate tax rate and suspending the capital gains tax.

Bachmann is also now trying to link the bailout with her other high-profile policy push for expanded oil drilling.

[Juan_de_la_Dem]

1. Black is white, up is down

[rucky]

2. How can you say "free market" and "bailout" in the same sentence..

and keep a straight face?

[Solly Mack]

3. She's not too bright

and not a very good liar either

[The Velveteen Ocelot]

4. She gets stoopider by the day.

[kirby]

5. She also added...

"First, we were told that Bear Stearns was too big to fail, then we were told that Freddie/Fannie were too big to fail, then we were told that AIG was too big to fail. What’s next, Starbucks too big to fail,” she pondered.

Source: http://blogs.abcnews.com/politicalradar/2008/09/whats-next-star.html

[PA Democrat]

10. Gee, how did those companies get into the mess in the first place?

Hint: lack of regulation and oversight, the existence of a HUGE unregulated shadow banking system thanks to unregulated trading of derivatives.

[phantom power]

6. I sometimes wish we could give these Brave Libertarians their own country...

Seriously, I'd pay to put these nutcases all together on an island, and let them show us all how well their dream government (or lack thereof) works in real life. I'd give it about six months before they were killing and eating each other.

[DCKit]

21. Nah. We'd have to pay them to keep them from coming back...

and we can't afford to keep them in the style to which they'd like to become accustomed. Better to let them stay here and suffer with the rabble.

[Chan790]

7. She's a conservative in a liberal state...

how in the fuck does she keep getting elected? I mean I know that Shays here in CT has people suckered to think that he's a moderate. Michele Bachmann wouldn't know a moderate position if it came marching through her living room with a parade band.

[kirby]

8. Keep getting reelected? Isnt she a Freshman? n/t

[wellstone dem]

14. You are correct

this is her first term. Please donate to www.tinklenberg08.com

[Chan790]

28. It seems she is...

now that I look. It seems that I've been hearing about her idiocy forever...I guess it just feels like more than 2 years. Still...how'd she get elected in the first place and why is her seat thought to be safe? I'd think she'd be at risk of being run out on a rail.

[Median Democrat]

9. Ah, The Problem Is That The Repeal Of Glass-Steagals Did Not Go Far Enough

We need to keep on deregulating until we approach a primordial level of economic and financial anarchy.

Can we call her a McCain surrogate and attribute her comments to him?

[kirby]

11. Some Senator (Jim DeMint) just said this is giving the Free Market bad wrap and

the real problem is the Gov't. Again he was trying to blame lenders being forced to loan to the 'poor' as the reason for this.

[PA Democrat]

12. Add in the Commodity Futures Modernization Act of 2000

that caused an explosion in trading of unregulated credit default swaps and other derivatives. The same bill contained the lovely "Enron loophole". And guess whose best buddy sponsored THAT bill? Phil "a nation of whiners" Gramm.

[OwnedByFerrets]

13. Idiot on Thom Hartman show is now saying

the same thing. Black is White, Up is Down. Btw, its Terry Jeffries.


www.wearableartnow.com

[wellstone dem]

15. Her opponent has a good chance of winning,please donate

This dimbulb is in her first term. She won by only a percentage point or two ahead of the combined vote of the democrat and the independent candidate. This year the democrats and the independence party endorsed the same candidate.

He is running an great campaign. If you donate, I'll door knock (and I'll donate.)

www.tinklenberg08.com

[Jack Rabbit]

16. Right, sweetie

And the price of gasoline will be 40¢/gallon as soon as ANWR is drilled.

[Stellabella]

17. God, that woman is stupid.

Shallow, vain, cruel, mean, but mostly stupid.

[jrockford]

19. My God she makes me want to gouge my eyes and ears! nt

[Flubadubya]

18. People who hate govt. become govt.

What's the deal with that anyway? :wtf:

If you don't like government intervention then don't run for office... simple as that!

[Minnesota Raindog]

20. Bachmann has never had anything BUT a government paycheck

IRS tax collection lawyer
State Senator
Congressperson
She and her family also have collected over $250,000 in federal farm subsidies since 1996--and she lives nowhere near a farm.

[Virginia Dare]

22. That woman is psychotic and so is anybody who would vote for her...n/t

[mac56]

23. As my dad would say: "Nuttier than squirrel shit."

nm

[RedEarth]

24. Michele you are such a idiot.... how stupid can one person be

[FKA MNChimpH8R]

25. Bachmann is to stupidity and batshit craziness

what Michaelangelo was to Renaissance art: unsurpassed.

[Caliman73]

26. People who blame government intervention...

Are inherently social Darwinists because they can afford to be. They think that the cream rises to the top. Unfortunately there are people like Bush, Cheney, Bachmann, etc... who disprove that. It is typically the most advantaged that rise to the top. Trickle down economics does not work because it does not take into account the greed that develops and intensifies as you gain more resources. People like Bachmann and McCain see government as an obstacle to gathering resources to themselves, but they can't say that outright so they rope in fools by saying the government kills innovation and competition. That way the little people feel that they are being held back not by those who do not wish to share the resources, but by government. I am not a fan of government controls in every aspect of our lives, but I think that it is necessary to regulate against greed. If there were no regulations at all we would see mega corporations crushing competition and forcing their agenda on the people like what we have now only ten fold.

[Retrograde]

27. The problem is, we don't have enough candy!

I loved Rachel Maddow's analogy the other night: your 6-year old has a big bag of Halloween candy, which in the manner of 6 year olds, he's consumed in one go, promptly getting sick. The 7-year old babysitter explains the situation to you: "the problem is that we're out of candy!"

I'm paraphrasing, but if you can find the clip on You Tube it's a must see. Best explanation of the current financial crisis I've heard!