Friday, September 26, 2008
I've been busy all day doing the day job and now am preparing for guests to arrive, so I am hopelessly behind on the news. I did have a "presidential debate" fantasy today, though, and I shared it with a friend over email:
I’ll give you an alternative theory, and a very positive one. That the two of them have basically agreed to do a simultaneous endorsement [of a modified financial intervention plan]. That would be good for the country (McCain’s message) and “change” (Obama’s), [insofar as it would represent a moment of genuine bipartisan leadership in the middle of a presidential campaign].
Of course, I could be wrong.
Wouldn't it be wonderful to have two candidates who might do something like that?
Unfortunately, they are still negotiating the details of the compromise plan -- and probably will be until after the debate is over.
Lemme run a coupla thoughts past the gang here, tell me what you all think.... Just gut thoughts, no authority behind them.
1) This is all very bad.... for people with huge financial and political investments in the current credit crazy system. THOSE people are freaking out, and the media with them as a direct resort. But there are enough mid-level players not so invested, enough economic diversity, and enough sheer exisiting wealth, that even a bad scenario played out will not be as bad as the horror shows being discussed.
2) There will be deal, we are close right now, and the overall impact will be minimal in the end. And people will be looking at this in one month the way they look at Hurricane Ike right now. It blew through, turned some buildings upside down, people got hurt, it's gonna cost us money, done deal.
3) This will be on the order of a bad scare more than anything. And a damned much needed one. Our credit offerings are preposterous. How many have gotten multiple ten-thousand dollar checks in the mail, unasked for..... just sign here!!!.... etc etc. Banks should be damned scared to offer some of the idiotic loans and rates they have been, and in the medium and long range, while not the short, this is a healthy thing.
Just thoughts, optimistic I grant you.
"Ahmadinejad does not control the security apparatus in Iran. The bureaucracy controls the security apparatus."
Doesn't he control the Republican Guard, which in turn is responsible for operations outside the country.