Rescuing the Bailout Following Its Fifteen Second Funeral ~ The Risk Averse Alert

Wednesday, September 24, 2008

Rescuing the Bailout Following Its Fifteen Second Funeral

Hey Shemp! Listen to the 15 seconds between 1:15 and 1:30...

"It has become clear that no consensus has developed to support the administration's proposal. I do not believe that the plan on the table will pass as it currently stands."

Pass this along to Kudlow, will you? He has been consulting with Alexander Hamilton (or so he says) and somehow (mysteriously) the nation's first Treasury Secretary apparently agrees the Paulson plan is necessary.

Oh boy. So, tomorrow the "leadership" gathers to rescue the "rescue" ... or is it bailout the "bailout?" Seems likely some scheme to buy time until January is the best that might come of this, save an intensifying attack from offshore scoundrels (LIBOR).

(A very worthy read, by the way.)

If Henry Clay were Speaker of the House, and not this worthless sack of Pelosi, the Brits already would have heard a loud-and-clear, "BACK OFF!" coming from the U.S. Congress. The City is, after all, where the global financial earthquake finds its epicenter.

Of course, our problem runs deeper than the loss of sovereign control over our currency and credit. But until political solutions address this fundamental issue, instability will reign supreme. The simple matter of greed elevated by the present arrangement has seen to it. And this circumstance, I think, is shaking Congress to its core in the prospect of shelling out $700 bn to keep the infrastructure facilitating it from collapsing.

OEX 5-min

A little "like from like" analysis for you. Might the turn higher I am anticipating be near ... possibly kicking off as soon as tomorrow sometime?

The very public part of the $700 Billion Swindle is over. Time for the Hope Waxes Eternal Show to begin.

Fast Money
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eh said...

Might the turn higher I am anticipating be near ... possibly kicking off as soon as tomorrow sometime?

I doubt it. Or let's say I would not bet much money on it.