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Politics : Politics for Pros- moderated
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To: miraje who wrote (270734)9/27/2008 12:21:19 PM
From: Triffin3 Recommendations  Read Replies (1) of 793917
 
No offense to John Maudlin but ..


Every sign of potential disaster is there. You and the rest of the House have to act. It has to be bipartisan. This should not be about politics. It should be about doing the right thing for our country and the world.

Isn't this word for word what we were told pre Iraq ??
And what are the consequences of our inaction ??
Why a total financial meltdown, of course ..

What happens if we walk away? Within a few weeks at most, financial markets will freeze even more. We will see electronic runs on major banks, and the FDIC will have more problems than you can possibly imagine. The TED spread and LIBOR will get much worse. Businesses which use the short-term commercial paper markets will start having problems rolling over their paper, forcing them to make difficult cuts in spending and employment. Larger businesses will find it more difficult to get loans and credit. That will have effects on down the economic food chain. Jim Cramer estimated today that without a plan of some type, we could see the Dow drop to 8300. That is as good a guess as any. It could be worse.


Or not ..

Hysterics as above are all the more reason to
take the time to make sure the solution matches the problem

Triff ..
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