Friday, October 03, 2008

Bailout Succeeds

Here we go again - Dems cave to Bush and he gets what he wants after yet another administration SNAFU. Do they really believe the Bush - Paulsen team, with its great track record and prescience on the economy, the war, the environment, etc. on this? I remain skeptical as do many economists, as to how effective this policy of a government buyout of corporate toxic debt is really going to be. First results don't seem to promising. Per Barry Ritholtz
Wow, that's a nearly 450 point swing.Very surprising to see the bailout pass, and get signed into law, and then see the market fade.
Once again, I have to say -- I hate to read too much into intra-day action, as its mostly noise, but this is not a positive development .

The corporatists have been saved from themselves, but who saves the rest of the country from them?

They’ve Tanked the Economy, Trashed the Environment,
Wasted the Military, and Lied Us Into War.
Yippee, Elect Another Republican
Veep Debate

I don't forgive Biden for letting Palin get away with that "white flag of surrender bit". He should have taken that and jammed it down her throat. (not meant to be sexist - they should do the same with McCain). Why not say "this is beneath the dignity of a person who wants to be vice president. Are you saying that that anyone who opposes your policies is a traitor? Are you saying those Iraqi Veterans against the War are waving that flag? The Iraqis want us out, the American public wants us out and you and McCain want us in - your saying those who disagree with this policy of spending even more lives and dollars on a war that was based on disinformation to the American public and the world from the first, and for which even the Iraqi government wants a deadline on the presence of American troops, is in favor of surrender? I consider that to be an insult to to the American people and American principles."
But then again - Democrats.

They’ve Tanked the Economy, Trashed the Environment,
Wasted the Military, and Lied Us Into War.
Yippee, Elect Another Republican