Perhaps they only said the deal was made early on because the stock market was still open and they didn't want a crash to happen. But tomorrow is Friday and anything can happen with the stock market then.
Also, the Congress is scheduled to go into recess tomorrow night. Instead they may be staying over the weekend to work this thing out. The members of the committee are adamant that there be no golden parachutes for CEOs who caused this mess. They are also adamant that there be oversight for all that money. After all, the fed chair used to be one of those CEOs on Wall Street who made his fortune there.
I feel that Bush and McCain are using this meeting as a photo op minute to promote McCain's candidacy . Evidently the American people agree. They are protesting this bailout all over America. They do not want to borrow this money from Red China and there is no other option since our nation does not have $700,000,000,000. We have borrowed ourselves out with all our allies. Note this:
The McCain campaign, however, has not "temporarily set politics aside." In the five hours after McCain’s speech, aides Nancy Pfotenhauer, Tucker Bounds, and Mike Duhaime appeared on Fox News and MSNBC five times, frequently criticizing Obama and Democrats:
– PFOTENHAUER: Well they could always have Joe Biden and if it’s on foreign policy, Obama and Biden can debate each other! Hahaha! [MSNBC]
– BOUNDS: Democrats were trying to pivot and push this issue into John McCain’s lap. [Fox News]
– BOUNDS: Barack Obama is trying to play politics, I think, in many regards on a lot of these issues. [MSNBC]
– BOUNDS: And here we are. I think we’re in a very different situation because of the leadership of John McCain. [MSNBC]
4 comments:
They need to forget about Wall Street and think about main street America! I heard the letters are pouring into Washington in thousands from the people. The Congressmen and Senators are afraid they will not get voted for again if they vote for this thing.
Yes, that's true. We are all sick and tired of paying for the mistakes of those high rollers. They wanted no regulation and now they see what lack of regulation can bring when greed dominates.
Groan.
I kind of like the tongue-in-cheek idea that's making the rounds on the Internet where "they" just divide up all those bazillions of dollars (that we don't have, of course) and give it to the people so we can perk of the economy on our own by paying off our mortgages and putting our kids through college and buying health insurance for the old people. A little trickle-up, yes!
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