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The markets are not happy with the bailout plan.  It's been denounced by everyone from Paul Krugman to Bill Kristol.  I shit you not.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
by Drew J Jones (myfriends@thisispancakes.com) on Mon Sep 22nd, 2008 at 02:10:38 PM EST
[ Parent ]
Thanks to a link from siegstate I was able to sent faxes to my former representatives in California denouncing Paulson's power grab, noting that what he was proposing wouldn't work because it didn't recognize the losses in value of the underlying assets and pointing out that our foreign creditors were not going to be fooled by such a scam.  Got through to everyone I tried except Pelosi.  Also sent a fax to Harry Reid.  A fax at least will give them a piece of paper to deal with.  Do ye therefore likewise.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Sep 22nd, 2008 at 02:30:35 PM EST
[ Parent ]
But it's a panic mode of "we need to do something !! This is something, let's do it"

Given the panic going on do you think there's a chance they'll risk the electoral unpopularity that might come from being seen as against delivering a "solution" ? The fact that it won't work and might even make things worse is irrelevant, this is politics.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Sep 22nd, 2008 at 03:59:56 PM EST
[ Parent ]
There have been bipartisan reports of a voter reaction that is "furious" about Paulson's proposal.  Perhaps they will ignore my faxes and e-mails, perhaps they have some effect in combination with others.  I have to act as though they do.  That could be why the Bush Administration has agreed to oversight and to allowing bankruptcy judges to write down mortgages, etc.  I am going to keep at it, hoping that it at least will help. I don't really see any harm.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Sep 22nd, 2008 at 05:45:12 PM EST
[ Parent ]
So, are they roaring in disapproval?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Mon Sep 22nd, 2008 at 04:16:47 PM EST
[ Parent ]
Well, some of the Wall Street types on Friday thought that all of their sins had been forgiven and Monday morining was Christmas morning.  Some had visions of sugar plums dancing in their heads.  They sobered up today.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Sep 22nd, 2008 at 05:47:20 PM EST
[ Parent ]
Some had visions of sugar plums dancing in their heads.

They always get that on Mondays.  It's from all the coke snortin', glue huffin', and crack smokin' over the weekend.

by ATinNM on Mon Sep 22nd, 2008 at 05:56:26 PM EST
[ Parent ]
Has anybody tried to correlate the volatility of the LSE with the quantity of cocaine found in the Thames river ?

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Tue Sep 23rd, 2008 at 04:39:55 AM EST
[ Parent ]
Hard to separate out from the volatility of urban living, I would have thought ;-)

You can't be me, I'm taken
by Sven Triloqvist on Tue Sep 23rd, 2008 at 05:23:17 AM EST
[ Parent ]
are you arguing for there being more, as bankers drown their sorrows in an orgy of drugtaking? or a vast reduction as they can no longer afford it?

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Sep 23rd, 2008 at 05:41:51 AM EST
[ Parent ]

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