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Mr. McCain goes to Washington
I'll have more (much more) to say about the current financial situation, but for now...
John McCain, after having stated that "the fundamentals of the economy are sound," being against the AIG bailout before being for it, and not read the three-page outline that is the "Paulson plan," decides suddenly to "suspend his campaign" and fly to Washington (dissing David Letterman while taking the time to speak with Katie Couric) in order to fix the problem. (Check out the video of Letterman's reaction on YouTube!)
He even goes so far as to demand a delay in the debates, which would also (conveniently?) delay the VP debate.
So he finally gets to Washington, and what happens? Chaos.
The pending agreement falls to pieces. Republicans can't get their own act together. A band of extremist right-wingers determined to destroy any agreement that doesn't cave in to their caveman fiscal mentality. The ranking member of the House Financial Services Committee doesn't have the power to negotiate. It's a disaster.
These are the leadership qualities of John McCain. All I can say is, thank God he has Sarah Palin as his running mate!
McCain On The Fiscal Problem
This man didn't even find the time to read the 2 1/2 page proposal! He's trying to get out of the debate and that's a clear picture. With Sarah showing how unknowledgeable she is (didn't even know what bills McCain had introduced and stated to Katie Curic that she'd get back to her on that)I actually fear these 2 running our country.
On another note, I just heard that my bank Washington Mutual has been seized. Guess what I'm going to have to do tomorrow.
Yup, you have a new bank
Introduce yourself to JP Morgan Chase, your new bank.
The early fallout on Wall St.
Before McCain botched it all up, and everyone thought there would be a deal, the Dow Jones Industrial Average gained 197 points yesterday. This morning, the DJIA futures indicate an early drop of about 200 points.
Meanwhile, second quarter GDP numbers have been revised downward, and Washington Mutual is gone.
But the fundamentals of our economy...