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September 24, 2008
JUST WATCHED BUSH'S SPEECH, and there was nothing hugely exciting; it was mostly an effort to underscore the importance of the situation. I liked Scott Ott's version better.
UPDATE: Hmm: "What incentive to Dems in Congress have to approve a solution at this point? Why not let the financial system collapse? Obama would ride the wave of destruction into the White House, with coattails. He could then use the resulting depression in the real economy to expand the reach of government, as FDR did."
Well, not if the Dems get blamed. But see Dale Oesterle: "Obama has a short position in the market; when it goes down his vote total goes up. Moreover, he is doing what short traders often do, running a bear raid for over a year and one-half, by talking down the market and the economy ('Bush has messed up the economy....'). His high profile in the press aids the lack of confidence in the market by the millions which hear him daily, all of which helps the market sag making his position more valuable."
I'm watching Jack Welch on TV, and he thinks the bill is important, but that the debate has helped.
ANOTHER UPDATE: Roundup here. Video here.