Thursday, September 25, 2008

Leave It to the Republicans to Screw the Dead Pooch

John McCain is dead. His presidential hopes were dashed; mark my words. A deal needed to get done this week. Now, it'll be at least a week before a new deal is done. Some banks will fail between now and then, perhaps even as soon as tomorrow.

My prediction: A laid off banker will poke McBain in the eye.

McCain move upsets Wall St bailout talks: Dems | Reuters

2 comments:

Glory's List said...

The same administration said of Iraq that Iraq it's a crisis and the cost of NOT doing some drastic RIGHT NOW is higher than doing nothing, you're willing to back when it comes to this bailout?!

You're FOR corporate welfare, wall street welfare?!

Check out "Bailout Urgency Driven by The Fear Factor & Panics the Banking System:"

http://libertydesirebelief.thechartersofdreams.com/2008/09/bailout-urgency-driven-by-the.html

"Stop The Bailout Now: Our Last Chance, Petition & Final Thoughts:"

http://libertydesirebelief.thechartersofdreams.com/2008/09/stop-the-bailout-now-our-last.html

Killing the bailout (as it stood) is such a positive thing. It’s a triumph really. Giving the credit markets a chance to sort all this out itself is the single best thing that can happen for everyone in the long run. If it turns out that they can’t, then the Fed can rush in, but they need to let the credit markets take the blow and try to handle it – they have more incentive than anyone to get out of the hole. For more, check out these links:

http://www.forbes.com/opinions/2008/09/28/bernanke-bailout-crisis-oped-cx_drh_0928henderson.html
http://www.ntu.org/main/letters_detail.php?letter_id=633
http://onthemedia.org/transcripts/2008/09/26/02
http://austrianeconomists.typepad.com/weblog/2008/09/please-just-say.html
http://myslu.stlawu.edu/~shorwitz/open_letter.htm

billspaced said...

No, I'm not for corporate welfare, but I am for saving the nation. I think things will get worse before they get better and lots of folks will lose their jobs and business not even a part of this will go bankrupt.

But I guess we'll see.

As for the Iraq war -- No, I was always against it. I'm not going along with the administration for the sake of going along with them. My understanding of economics and of the financial markets leads me to concur with them on this one.