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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (84406)	9/14/2008 5:46:26 PM
From: wonk	Read Replies (2) \| Respond to of 541880

...We are headed for another 50.x% logjam.... Perhaps. But if they don't find a way to either save Lehman, or provide a soft landing, we could be right back to where we were in March; staring at systemic meltdown of the major broker dealers with who knows what consequence. ... The overarching goal of the weekend talks was to prevent a quick liquidation of Lehman, a bank that is so big and so interconnected with others that its abrupt failure would send shock waves through the financial world. Of deep concern is what impact a Lehman failure would have on other securities firms, insurance companies and banks, notably the American International Group, both of which have come under mounting pressure in the markets.... nytimes.com The real story of this election is not Obama, McCain, Palin, or even the war, but rather the sheer bald incompetence of the Republican governing philosophy (or lack thereof) in regards to financial stewardship. Unfortunately people probably won't see that until they are selling apples on the corner for a dime.