9.30.2008

Is It Really for Main Street?

Yglesias has a good point that may help bolster lefty skeptics of the bailout - where is the rest of corporate America? If they really thought Wall Street was going to take them down, they'd have the rank and file GOP in their hip pocket voting for this thing. Food for thought:
But especially on the right, normally when there’s an issue that’s perceived to be important to American business, corporate America makes its views known and conservative legislators, when asked to jump, say “how high?” I mean, when was the last time House conservatives bucked the interests of large oil companies? And wouldn’t a steep recession be much worse for large oil companies than an offshore drilling moratorium? It’s very difficult to get congress to act when the heavy hitters don’t want to put any skin in the game. I think that is in many ways the big story here. Meanwhile, the failure of this sort of effective lobbying scheme to materialize just feeds left-wing suspicions about the bailout deal — it looks and feels very funny to be saying this bailout serves interests beyond Wall Street when political leaders can’t produce concrete non-Wall Street interests clamoring for it.

UPDATE: Maybe the other businesses were just being too complacent - assuming it'd pass w/o their work.

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