Rep. Barney Frank (D-Ma.) has been the Dems’ pointman on the bailout since last Sept. While I was entirely unsurprised that he was carrying water for the financial industry, I didn’t think he’d say something as ridiculous as he did in this TPM interview. In this piece, he essentially says that “if ‘elites’ want the public to pony up their money in cases like this, they, the aforementioned ‘elites’ need to get serious about repairing and expanding the social safety net in the country …”, and then he goes on to suggest that the Federal gov’t should first pony up the money and then declare their expectations that the recipients will chip in to society.
Are you kidding me?
No, wait.
Are you fucking kidding me?
How many times can we get suckered like this? Didn’t anyone else take the lessons from Lucy and Charlie and the football in Peanuts?  Thea Skocpol gets it right:
The idea that “elites” will “get serious about repairing the safety net” if they are FIRST given billions of dollars of payoffs to shareholders who made bad decisions is the height of naivete. There are no corporatist institutions in U.S. politics that can enforce this kind of bargain, that can corral all the interests and get them to carry through on mutual promises. That is why Obama and the Democrats will get for the people in general exactly what they push through right now and will squander opportunities if they give money and leverage to “elites” first!
And she notes that there are no “who could have known?!” excuses here:
This is what Ira Magaziner imagined with health care back in 1992 — that he could get up front understandings with powerful interests by giving them concessions in the Health Security proposals, and they would let it get through Congress later. (I remember sitting in his office as I took notes for BOOMERANG and having him complain to me that he could not understand why the business roundtable types “lied” to him about what they would do!) Of course, they turned on him the moment Congress got ahold of things. Same thing will happen here.
No excuses, Rep. Frank. Treat us like we’re stupid, and you’ll get treated in kind.