SOCIALIST "BAILOUT" COULD SPARK COLLAPSE

By Cliff Kincaid
September 30, 2008
NewsWithViews.com

While media reports and opinion polls demonstrated that the overwhelming majority of Americans were opposed to a socialist takeover of a major sector of the U.S. economy, many voices in the media were urging passage of the takeover plan.

In an article on his website, Schiff had praised House conservatives for trying to preserve American-style capitalism by resisting the scheme.

One of those conservatives, Republican Rep. Thaddeus McCotter of Michigan, who had referred to the plan as “dung,” declared that the bill’s “cosmetic changes” were not enough and that it should go down to defeat. The plan “is a socialist solution,” he said, “one that, by threatening hardworking Americans’ prosperity, unconscionably ransoms hardworking Americans’ money and reduces their liberty. As such, it is a generational threat to Americans’ liberty and prosperity.” Full Story