Opposition to the Bail-Out: Strange Bedfellows
By Bryan Caplan
The main opposition in Congress has come from GOP conservatives, especially in the House. Democrats also hope that, after the compromises, enough House Republicans will vote for the package to give Democrats political cover.
Lawmakers had to navigate between angry voters — many of whom view the plan as a rescue package for the wealthy on Wall Street — and Bush administration officials who warned that inaction would cause the economy to seize up and spiral into recession.
If the sources were reversed, I’d chalk this up to ideological bias. But as it stands, there’s a weird pattern. Conservative Republicans are hardly the natural spokesmen for voters angry about a rescue of Wall Street. What gives?