Monday, September 22, 2008


Paulson's attempt to spook the herd worked, but it's looking like the beasts aren't going to charge as neatly as in the plan, let's put it bluntly, Democrats want their fair share of the loot.

The markets cooperated with a suitable level of panic today, increasing the pressure to do something now before the fire burns the house down, in the charming metaphor used by Mitch McConnell.

Obama has grasped this opportunity to not show leadership with both hands, saying he doesn't want to 'politicize' the negotiations between the White House and Congress. He's also OK with the stampede mentality, saying an agreement should be reached 'this week'. One might think that all this meltdown stuff would improve his election chances, but his inveterate waffling is not taking advantage of the opportunity.


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