Suspend Mark-To-Market Now!
I am watching the Greta/Gingrich interview and am very happy to hear that Gingrich has jumped on board to suspend mark-to-market (for the record, I want to abolish it but a suspension is good for now).Read Gingrich's Article on Forbes
Markets do not like bickering
Did anyone notice that the DOW ticker plummeted as the Democratic Caucus had their press conference?Update: DOW suffers worst point loss in history but did not make the top 10 in percentage terms. Conclusion: Markets react poorly to political "food fights" because they show political uncertainty.
Bye-Bye Bailout!
The bailout failed 205-228 in the House.House Republicans vote 2-1 against the bailout.Roll Call Vote
A Defense of the Paulson Plan
From Greg Mankiw's Blog:The Treasury proposal to rescue the financial system has gotten a lot of grief lately, especially from the community of economics professors. A smart friend, who knows more about this topic than I do, emails me his response to the critics:Academic economists don't like the Treasury plan, but nearly all of the Wall Street economists are for →
Financial Socialism!!!
Republican Sen. Jim Bunning of Kentucky came out swinging during a hearing on Capitol Hill Tuesday, calling Treasury's plan for the biggest financial bailout since the Great Depression "un-American." From Bunning's prepared statement: The Paulson proposal is an attempt to do what we so often do in Washington—throw money at a problem. We cannot make bad mortgages go away. →
Updated: Political Stunt?
McCain's campaign suspension may be political but it is not a political stunt.Both Obama and McCain choose to remain Senators and presidential nominees. They don't need an invitation to vote as Obama suggests and it just so happens to be that McCain got one.Harry Reid: “This is a Republican proposal, and we need some Republican votes,” to help it pass. →
Time Out?
McCain's announcement of a campaign suspension did come as a shock to me this afternoon. I am watching Obama's response as I am writing this. He did not even address McCain's announcement at all in Obama's statement but waited until the question section to talk about it. McCain put Obama in an awkward situation, to follow McCain and help America →
A 269 Tie?
"What really strikes you is how easy it would be for a tie to occur. Take the 2004 map and switch Iowa, New Mexico and Colorado into the Blue column, which is what the poll numbers indicate. Then, take New Hampshire and give it to McCain, which is what two recent polls suggest is going to happen. There is your →
Want a Bailout?
For a Bailout, Press 'One' . . .By Alan Neffhttp://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091702976.htmlThursday, September 18, 2008; Page A21"Hello! You've reached the United States Treasury's automated bailout hotline. Please listen carefully, because our options have recently changed. If you're too big to fail, press or say 'one.' If not, hang up and dial 1-800-FOR-FEMA.' ""One.""Great! You've selected Option One. If you're a bank, press →
DOW down 34 points at the end week
http://www.breitbart.com/article.php?id=D93A23FO1&show_article=1Phillip RomanSent from my iPhone
Cox responds to McCain’s blindside
http://www.politickerca.com/jamesgerber/2337/cox-responds-mccains-blindsidePhillip RomanSent from my iPhone
The Governor Wins
CA has a budget agreement.http://capitolweekly.net/article.php?_adctlid=v%7Cjq2q43wvsl855o%7Cxf0lcgh7x75c30&issueId=xeylg4ns6ql3ki&xid=xf05duvhor1559Phillip RomanSent from my iPhone
Grey Seattle
Posted with LifeCast
Arnie Is Manning It Up?
I am a fan his movies, they are funny. He has even had some hilarious moments as governor. However, he has not really put on a terminator face in SacTown.Recently a poll was released saying that 68% of Californians oppose a recall on him. After assessing his support, Arnold responded by "revealing" that the talks of a recall is caused →
Back To Seattle!
Posted with LifeCast
Political Poll of the American Economic Association by Scott Adams, creator of Dillbert
"Overall, 59 percent of our economists say Obama would be best for the economy long term, with 31 percent picking McCain, and 8 percent saying there would be no difference."'The economists in our survey favor Obama on 11 of the top 13 issues. But keep in mind that 48 percent are Democrats and only 17 percent are →
Fed Confirms Emergency $85 Bln Loan To Rescue AIG
What is up with the hands-on Fed?Link
We got a budget…maybe
In the early morning, SacTown finally came together to pass a state budget after a 77 day standoff. Gov. Schwarzenegger said that he will veto the budget because it did not meet all of his requirements, with the main fault being a the state rainy-day fund."Without this restriction, the rainy-day fund turns into nothing more than aslush fund that can →
Steve Poizner Launches 2010 CA Gubernatorial Exploratory Committee
Poizner is very capable of turning SacTown around. He is, however, a part of the "establishment" and may not be the fresh voice Californians are lookng for.http://www.flashreport.org/blog.php?postID=2008091502131720
The DOW is DOWN 500 POINTS!!!!
Lehman Files for Bankruptcy, Merrill Sold, AIG Seeks Cash
Obama Got $126K from Fannie and Freddie
Little Green Footballs: Link
