Idaho Democratic Party executive director Jim Hansen reminds us all at the state party website that the state Republican Party is on record as wanting to abolish the Federal Reserve. A snip:
There are few people alive who remember the 1929 stock market crash and the devastating depression that followed. If Idaho Republicans got their way, a crash of similar or greater impact would have happened this month.
It is clear that years of irresponsible lending fueled by Republican economic deregulation policies has accelerated into a dizzying series of near-disasters in the global economy. To put on the brakes and prevent the economy from completely derailing, our government must turn to a tool that Franklin D. Roosevelt created during the Depression: The Federal Reserve.
Read it all here. Jim raises an interesting question: Do Bill Sali, Jim Risch, Mike Simpson, Mike Crapo, Larry Craig, Butch Otter, and other Idaho Republicans actually stand behind this plank in the state GOP platform? Also, isn't it interesting how 1st CD candidate Bill Sali lashed out against the financial market bailout package before he knew anything about it - and now he's having to promise he'll keep an open mind? In complex times like this, we need leaders who think before they talk.
Update 9/24/08: Check out what Kos pointed out Tuesday afternoon (h/t Jill) ... this passage from the Republican Party Platform adopted mere weeks ago:
We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself.
I can only imagine the moral confusion that free-market zealots are experiencing this week, as they realize that their black-and-white positions don't work in the modern world.