Washington's Financial Bailout Brouhaha: American Government at Work

The brouhaha in Washington over a three-quarters-of-a-trillion bailout of arguably irresponsible financial companies makes me glad to be an American.

It's also churning my stomach, but that's another matter.

Behind all the it's-the-other-guy's-faulting and occasional preference for theory over fact, what we're seeing is the checks-and-balances design philosophy built into American government at work.

It's in the American culture, too. Thanks to the messy sort of freedom we have in America, people who don't agree with whoever is in authority can say so, and explain why.

Case in point: Stop the Housing Bailout!. The fellow who put up this website has a definite point of view, and it isn't the one favored by Washington:

• "This site is dedicated to stopping the government's planned bailout of the housing market. A bailout requires responsible Americans to pay for the acts of greedy bankers, mortgage brokers, flippers, and over-extended home-borrowers. In other words, the government wants you to pay for the blunders of others who knew, or should have known, better.
• "Equally as important, a bailout would permanently price out of the housing market all those responsible Americans...."

I haven't read the entire site, and haven't made up my mind about his ideas, but this isn't just a rant. Aside from stating his position, the website urges visitors to protest, shows where protests are happening, gives contact information for members of Congress, and reminds us that all representatives, and quite a few senators, are up for re-election.

It's Loud, It's Messy, But It Works

One of the strengths I see in American government, and culture, is that it's rather hard to make decisions that affect everyone without a lot of discussion. Also arguing, haranguing, posturing, and the odd temper tantrum.

One person, or a restricted set of like-minded people, can make mistakes. Big ones. Not because they're ignorant or malicious, but because they can't see all sides of an issue. They're human, and our minds only stretch so far.

A large number of people with a diverse set of backgrounds and viewpoints can make mistakes, too. Sometimes they're big ones.

All in all, I'd rather live here, than in a country where people had to go through proper channels to lodge complaints, and where the news media was well-managed. In China, for example, a company has been selling poison baby food: an embarrassment in that generally well-regulated country.

The official news, though, isn't troubling the people about that so much. The focus is on China's manned orbital mission and upcoming spacewalk.

It's not just China, of course, where people are encouraged to politely refrain from stating unwelcome opinions. For example, the leaders of Saudi Arabia, Sudan, and Myanmar are quite careful to protect their subjects from ideas and discussions that might upset them.

America's approach is much less tidy, but I think we profit from letting all sorts of ideas get in.

In the news:

• "Labor unions protest in NY against bailout"
  Reuters (September 26, 2008)
• "The bailout: What's at stake"
  CNN (September 26, 2008)
• "Bush Promises Bailout Will Pass "
  The Wall Street Journal (September 26, 2008)
• "WaMu Seized, Sold Off in Biggest Bank Failure in U.S. History"
  FOXNews (September 26, 2008)
• "New York mayor: Congress must approve bailout"
  International Herald Tribune (September 26, 2008)
• "Bailout collapse endangers US presidential debate"
  Jerusalem Post (September 26, 2008)
• "Bailout package will get passed, Bush says"
  CNN (September 26, 2008)
• "FBI Investigating Potential Fraud by Fannie Mae, Freddie Mac, Lehman, AIG"
  FOXNews.com (September 23, 2008)
• "A Wall Street Week Of Biblical Proportions"
  CBS News (September 21, 2008)

About the Chinese orbital mission:

• " 'Romantic' spacewalk toughest ever for Chinese astronauts"
  Xinhua (September 26, 2008)
• "Chinese spacewalk mission enters orbit"
  CNN (September 26, 2008)
• "China space mission article hits Web before launch"
  Forbes (September 25, 2008)
  • "The article, dated two days from now on Sept. 27, vividly described the rocket in flight, complete with a sharply detailed dialogue between the three astronauts.
  • "Excerpts are below:
  • " 'After this order, signal lights all were switched on, various data show up on rows of screens, hundreds of technicians staring at the screens, without missing any slightest changes ...
  • " 'One minute to go!'
  • " 'Changjiang No.1 found the target!'... ...."