We're really going to get something rammed through 6 weeks before an election that will slap a bandaid on the housing/financial crisis? I'm sure that will be
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It might actually be A. Emergency bills have less time to get earmarks added to them. B and C, seem unlikely.
I think the thing that puts Congress up in arms is less Goldman Sachs and more "the market dropped ~10% in three days". Given it bounced back today, maybe they'll stall.
In this case I'm actually kind of using "earmarks" as "favors to particular companies rather than the system as a whole". By considering something briefly and under pressure it's easy to come up with something that disproportionately benefits a few major firms that are pushing the agenda. So even without little allocations here, there, and everywhere for certain firms you still get a very skewed piece of legislation
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It didn't realize Goldman was in trouble, but I admit I (as well as everyone around me) was kind of distracted by our stock fall to less than half its value based on (apparently unfounded) rumor for a couple hours during the middle of the day. Is there somewhere I can read about the Goldman issue?
There's nothing really to read, but both Goldman and Morgan Stanley were getting hammered last week through Thursday when Schumer suggested that the Treasury/Fed were going to fix everything. It's just awfully convenient that when the two bluest-chip firms were suddenly in trouble, including the one that provided most of the senior staff at Treasury, suddenly the cavalry came
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I think the thing that puts Congress up in arms is less Goldman Sachs and more "the market dropped ~10% in three days". Given it bounced back today, maybe they'll stall.
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