Sunday, October 05, 2008

Karl's Weekend Reading

The $750 billion bailout was the main event of the week, with the Pelosi-whatshisname debate a strong second. There was plenty of great commentary on both, but only one worth passing on. We're supplementing this short list with three bailout-related videos.

Mary Anastasia o"Grady at the WSJ writes in Monday's paper, What We Can Learn From Chile's Financial Crisis. She writes before Friday's bailout bill that an alternative similar to Chile's would be better for America, namely government loans to the banks rather than government taking responsibility for managing the assets.

It took several years for Chile to recover from its banking crisis and the U.S. will also need time to work off its credit mania. Federal assistance may be required. But that doesn't mean that we need to hand a blank check to the government that will allow it to expand its powers yet again.

So true. We first mentioned this solution in a list of suggestions by Newt Gingrich, September 24th.

Bill O'Reilly goes off on the culprit of the financial disaster, Barney Frank. This is mild compared to the appropriate response:

We nominate the National Republican Congressional Committee for the best political commercial - ever.

And Saturday Night Live comes pretty close to the facts in last night's skit. U/T Babalu.

NBC pulls the controversial clip. See it here. U/T: SondraK

UPDATE - 15 minutes later: Found a video of proud Ushanka owner Ann Coulter suggesting war-crimes tribunals! U/T: Sweetness & Light.