Thursday, September 25, 2008

John McCain--The Republican Contagion

I thought I had seen everything. The latest Act by McCain and his Republican homeboys is obscene. They, the Republican party, are obviously not negotiating in good faith. I predict they are going to be punished come November.

Hank Paulson has one of the sharpest financial minds in America. What is it that has got him in a panic, demeaning himself by kneeling before Ms. Pelosi? The massive remapping of Wall Street? record breaking bank failures?, the near bankruptcy and bailout of AIG, the nationalization of the GSEs, trillions and trillions of dollars of liability lurking in the opaque global CDS market?, a bottomless mortgage backed write down pit?, obscenely leveraged hedge funds on the brink suffering the same fate as AIG?, trillions of boomer retirement assets at risk?, the USD on the verge of diving?, creditors like China wondering if they will have to pull the plug? The list goes on and on and 700 billion does not sound like near enough to cover the tab.

Messrs Paulson and Bernanke can't tell you what is going to happen next. It is the proverbial Black Swan getting ready to swoop in. Words like new depression and financial apocalypse are actually apropos. It is the so called financial contagion, financial Katrina, the Minsky moment. That is what is frightening the bailout boys.

Whether or not you agree that a bailout is the right way to go...what is not right is to politicize this sorry national affair. This is precisely what McCain and the Republican party have done. Grandstanding at the expense of Americans.

Its their boy in the White House, its their financial pig sty and it is their bailout.
Plain and simple.

I don't care what they say. This behavior is blatant and disgusting.

And...I don't care if Mr. McCain abstains from attending all of the debates.


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