Posted on 09/30/2008 11:53:04 AM PDT by WillVoteForFood
I've not gotten to watch much of the MSMers today, but on a short break, I got to take a look at the CNBC guys and I suspect the conversation I saw between the anchor and somebody on the floor of one of the exchanges is a common thread for today. The common theme for today I suspect is that the market is recovering much of its losses because they expect that a deal will be done very soon. Specifically during this conversation, the guy on the floor talked about the e-mails Congress are now receiving in favor of the bailout and the way he phrased it was very interesting. He essentially said that the bailout was killed largely due to "hundreds" of e-mails received by Congress against the bailout and that the uptick in the market was due to "thousands" of e-mails being received by Congress for the bailout. Thus, his conclusion is that market upswing is happening in response to the likelihood that Congress will act due to pressure they are receiving from the great unwashed.
Tomorrow will be the day they go back to all out scare tactics, prepping for a Friday vote on what was voted on yesterday, imo.
CNBC is owned by GE. 30% of GE’s business is, oh guess, what, mortgage related, so do you think they want to latch on to the Friends of Paulson blank check gravytrain??? You bet they do... and the sooner the better.
We should call this the Zombie Bailout Bill, because it refuses to die................
Yes, the media is being complete propagandists in this. I can’t even watch them anymore.
Herbert M. Moses
That’s all well and good but we’ll be ready for congress when they try to vote on it again. The market is doing fine without meddling.
“That’s all well and good but we’ll be ready for congress when they try to vote on it again. The market is doing fine without meddling.”
The market is only doing fine due to the expectation of a deal. While we may root against the bill, be under no illusions as to the pain we will bear in the near term.
quick follow up.
There’s a reason they expect a bill. They are merely negotiating better terms so for those of you who think the line will be held you will be disappointed. The alternative collapse of the stock market is not to be taken lightly. I think we’d be better off in the long long term but that point is moot because there will be a deal.
I doubt this bailout will serve any purpose other than to instill a little confidence in the financial markets and temporarily quell the panic.
It reminds me of “Comprehensive Immigration Reform”. The bailout is going to happen, it is just a matter of when. It is a real shame that we don’t have our best and brightest working on a solution to this problem or at least some semblance of leadership. It appears we are going to have to settle for Commies, Homos and a Lame Duck.
People like you apparently have no other purpose other than attempting to quell dissent.
It ain’t working.
Quell dissent? What are you talking about? Knowing there will be pain and yet acting to do the right thing is being a responsible adult. If my little reality check somehow quells your dissent then there’s not much I can do to help except paint a nice rosy picture for you that dove tails with your every belief.
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