The politics

So there's that Raffini guy (Republican congressman) who's trying to talk the Republicans into all voting against the bailout, leaving the Dems in political bed with Bush for the November election. Smart, in one sense: if the bailout were actually a good idea and worked magnificently (to whatever good end), we'd never really notice it because it would mean the markets would perk along just fine without substantial losses and taxpayers would be mad because they'll feel like they paid a lot for nothing, but if the bailout doesn't work and we pay all this money and there's still a huge loss in value, we'll be pissed. Either way, taxpayers are going to be disaffected by any bailout plan that occurs.

This morning I heard that Harry Reid was threatening to let Congress take its sweet time until AFTER THE ELECTION with the bailout bill. I wish he meant it, since the more time passes, the more the markets will solve their own problem. But I'm afraid it is just posturing for leverage for Nancy...

Now, Halperin is previewing that Pelosi and Paulson have been negotiating and that may bear fruit, whatever that might mean.

I wonder whether the threat of public protests on Thursday will push a resolution before the end of the day Thursday.