It appears as if the Paulson Bailout Plan is DOA. Despite perfervid declaration on all sides that a deal must be done, the New York Times reports that the high level leadership summit "has dissolved into a verbal brawl in a Cabinet Room of the White House." (NYT--Talks Implode)
Well, what really were the chances of this once John McCain had injected Presidential Politics into it yesterday on the pretext of taking charge and exercising "leadership". But as the article reveals it was the House Republican caucus, which right at the outset declared no support for the Paulson bailout plan.
The New Republic on how John McCain crashed the party to save his campaign.
Regarding the bailout itself, the following video featuring Barry Ritholz of the Big Picture explains things in a nice simple way that readers may find helpful...
2 comments:
This is where GMA beats everyone, hands down. If this were to happen in the PI, GMA would simply declare it did not happen or issue an Executive Order declaring the problem void.
Paulson is and Bernanke, no matter how good people say they are, stinks.
I don't know about you guys but Paulson definitely needs your urgent assistance...... check it out.
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