Those responsible for the evils deregulation have brought us are not only McCain’s “friends and philosophical comrades,” but they staff his campaign as well. According to the New York Times today, McCain’s campaign manager, Rick Davis, realized over two million from Freddie Mac and Fannie Mae for helping fight tighter regulation. McCain refuses to affirm that he will not appoint Phil Gramm Secretary of the Treasury,in spite of the fact that Gramm bears major responsibility for the financial services and banking deregulation that made our current financial crisis possible. And, for the coup de grace, while McCain fulminates about golden parachutes, he relies on the advice of Carly Fiorina who received a 40 million very golden parachute after she was fired from HP where her leadership resulted in the loss of over 2000 jobs. It pains me to watch this McCain person twist and contort himself in his efforts to don a populist mantle that just doesn’t fit.

Ah, the old theme that government can solve all problems. I’m sorry, but they have had the tendency to create these same problems. Why should we trust them to fix them?

Now that George Soros has replaced Joseph Pulitzer as the inspiration for the Post Dispatch platform, it is fitting that you are getting your editorial viewpoint directly from the DailyKos.

I share the skepticism of John McCain and all things Republican. They’ve earned the scorn. But, I can’t join in your worship of Obama and the Democrat agenda. Your dogmatic partisanship has forced you from liberalism to extremism in shilling for two of the most far left members of the U.S. Senate. Marxism is a proven failure.

I agree. A legitimate newspaper should not be sourcing fringe groups with a history of irresponsibility with the truth.

This is a new low for the Post Disgrace, directly linking to an opinion piece at DailyKos? Have you no shame, Ma’am? Even for a rag with no journalistic standards (Post Disgrace), this is out of bounds. Next will we get the 9-11 troofers reported as credible because their article is written well?

But then again this isn’t a legitimate news paper.

While I refuse to read the Kos piece, I would like to reply to the issue.

As a former CEO, I was consistently among the bottom five in salary. I bet with the shareholders and took stock options instead of cash. Putting CEO’s and shareholders on the same page is a good thing. This crisis, while providing great talking points for the left, also demonstrates the antipodal argument: CEO’s can also be worth a lot of money. One only needs to look at Lehman Brothers and the decision by the CEO not to sell months ago. I’ll bet not one shareholder would have cared how much he made if they were able to avoid the absolute loss of their equity as has happened. A good CEO can be worth more than some multiple of an average worker. He can also be worth less if he makes bad decisions.

Assuming the taxpayers are going to have to pay for this bailout (which is against my innate capitalist philosphy), I would propose the following:

Taxes should be raised by one percent for ordinary income and two percent for capital gains. This increase would not go into the general fund, but into a bucket reserved for the bailout. The increase would be reported separately on the tax return. Then, over the next ten years, or however long it takes to sort out the bailout, to the extent the government actually “makes money” on the bailout as these assets are sold, as is being suggested, those people who paid into the fund would receive their pro rata share back. This would also ensure a close eye is kept on this process.

Any compensation to executives and employees of bankrupt companies should be limited to two weeks pay. Any compensation to firms “bailed out” or directly assisted with liquidity infusions should be limited to base pay. Bonuses were obviously not earned.

Moreover, the government should use this as a watershed event to recognize its drunken sailor mentality and get spending under control. The entire government should be cut by five percent in real terms. This is done all the time by business and it can be done by government. Earmarks should also be banned for the duration of the buyout.

Criticism is invalid until you read the piece.

I directed you there because, as I said, it gives some historical context. Reflexive anger is pointless. Tomorrow, when I link to a piece form Reason magazine, will you accuse us of being libertarian? And, I can’t wait for your response when I link to National Review.

How can you argue any idea without fully understanding it?

And, finally, JJK: You have good ideas. I doubt the tax plan will work, but it’s worth thinking about.

“Criticism is invalid until you read the piece.”

I disagree. Kos has a history of racist, bigoted and evil diarists. They have expressed the desire to see Republicans and Conservatives dead. You linking to them gives them credit they do not deserve.

“I directed you there because, as I said, it gives some historical context.”

What it gives is the far left wing version of history, no balance AT ALL, is that the context the paper is going for now?

“Tomorrow, when I link to a piece form Reason magazine, will you accuse us of being libertarian? And, I can’t wait for your response when I link to National Review.”

Jamie, maybe you could have mentioned somewhere that this was a first of a three part series exploring three different views of the financial situation. And I cant wait for you to link to National Review Online.

“How can you argue any idea without fully understanding it?”

Jamie, how do you know the diarist has ANY freakin clue what he is talking about? I can write a letter detailing how the Sep 11 attacks were an inside job, and if all you knew about is was my writing, you would think it was an inside job, when everyone with a clue knows that is not the case.

Quoting from Daily Kos is a new low for the P-D. Absolutely disgraceful.