The impact of the bailout law known as EESA (Emergency Economic Stabilization Act) voted into law by the House on Friday is not known.
I was listening to The Big Money Podcast while I was getting ready for work one more morning recently and heard Dan Gross describe his step by step reaction to the bailout bill as events unfolded:
I burst out laughing and cut myself shaving. When I told Dan it was his all fault, he told me:
oops! Maybe the House of Representatives can slip a provision in the bailout bill appropriating some cash for appraisers in New York to buy band-aids. After all, you’re just another victim of the credit crunch.
And don’t forget about LIBOR and those pesky wooden arrows for children.
Tags: Dan Gross
[…] the House of Representatives can slip a provision in the bailout bill appropriating some cash for appraisers in New York to buy band-aids…” […]
Jon – when can we expect the Q3 report? I start getting antsy around the 6th of the month.
So, the liquidity crises has been given the very best solution (over my objections to the House and Senate guys who are supposed to care what I think) America can give it. And not much changed, except it got worse. Now what?
I objected to the thing because I couldn’t figure out what the powers that be thought was wrong or what they were going to do with $700B to fix what they weren’t sure was really broke. Guess I’ll watch our presidential wannabes and see if they know anything tonight except that the other one caused all of the problems and doesn’t know how to fix nuttin’.