Tuesday, September 30, 2008

The Sky Is (Not) Falling

The overseas stock markets actually ended up in good shape overnight. I think that this may be sign that they believe that we actually dodged a bullet, and that a better bill may be crafted in the coming days that will better resolve the credit crisis right now, plus not make our debt load worse than it already it. So all is not lost after all (though, have you noticed how the media loves a good crisis?).

Let me add that the notion that the bailout bill lost because of a remark that Speaker Pelosi made about President Bush is ludicrous. I don't believe that that is the reason legislators vote (or don't vote) for something. Besides the Republican don't care for President Bush's policies and leadership either. After all, it is basically his bill they voted against!

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