....wonder why the stock market suddenly went kaput today? Maybe because the hard-left portion of the Democratic party is flexing their muscles in Congress, and the business sector can see the writing on the wall:
Rep. Henry Waxman will become chairman of the powerful House Energy and Commerce Committee, ousting the more business-friendly Rep. John Dingell in a contest that highlighted the determination of House Democrats to enact a sweeping, activist agenda.
Mr. Waxman's victory ensures that the committee will move in a more liberal direction, especially on energy and climate change. The California Democrat's ascent caused immediate consternation in the already-reeling automobile and coal industries.
Mr. Waxman is widely expected to make passage of climate change legislation a top priority next year. Last month, he joined more than 150 other House Democrats in outlining "principles" for such legislation, including emissions reductions of at least 15% by 2020.
"We have an opportunity that maybe comes only once in a generation," Mr. Waxman said, following a 137-122 vote of House Democrats that was not as close as many expected. "I think that the Democratic caucus agreed with me that we must meet that challenge and move forward."
The current financial crisis, Mr. Waxman suggested, could pave the way for ambitious regulatory action, much as the Great Depression did.
Well, at least Waxman is honest about his attempt to use the current financial turmoil as a smokescree to push radical legislation through Congress and onto the American people. It's funny how he references the Great Depression, because implementation of his business-killing philosophy will bring us back there quicker than we might ever have been able to imagine.
Will the media cover for Obama and the Dems, and balme Bush four years hence? They'll try, but I expect what little credibility they have left will be frittered away long before then....
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