Cow patty with marshmallows and pork lard - Part deux

Michelle Malkin is liveblogging the latest attempt to pass the cow patty with marshmallows bailout bill (the Senate seems to have added lots of pork lard to the stinking concoction).

Rep. Jeb Hensarling talking about the bailout in the floor of the House today:

“I fear that the legislation before us still remains more of a bailout than a work out. I fear it undermines the ethic of personal responsibility. I fear that it rewards bad behavior and punishes good. But my greatest fear is that it changes the role of the federal government in our free market economy, which despite its current problems, remains the envy of the world. How can we have capitalism on the way up and socialism on the way down? If we lose our ability to fail will we not in turn lose our ability to succeed? If Congress bails out some firms and sectors, how can it say no to others?

We must be very careful as we address this financial crisis to ensure that any short-term gain does not come at the cost of even greater long-term pain – that being the slippery slope to socialism. The thought of my children growing up in America with less freedom and less opportunity is a long-term pain I cannot bear. Therefore, I will again vote ‘no’ on this legislation. And as I told my colleagues before the last vote, when I cast my ‘no’ vote, I will cast it with some doubt.

"You can breed the pigs and buy the corn and get on; You can raise the corn and buy the pigs and get on; If you buy the corn and buy the pigs to feed, you haven't got a chance; But if you breed the pigs and raise the corn you'll make money." - Louis Bromfield