patrick.net

Well, we all know what a camel is; a horse by committee.

I think the Plunge Protection is putting the floor in right now. The action is incredible suspicious.

Justme,

Good point. Those items you mentioned will protect buyers of the financial products and limit the pool of money banks use to lend.

But won't we still have Fannie/Freddie to buy up low quality loans?

Sure, Fannie and Freddie should be regulated, too. The regulation should say that the loan limits should be locked to the case-shiller median reached at the bottom of the cycle, and then adjusted upward only according to inflation.

As a side effect, this will incentivise the government to report true inflation numbers, since the REIC will force them to do so. 1/2 ;-)

And yeah, no less than 10% down under ANY circumstances, and 20% as the norm.

The traitorous, sold out, pork loving bastards that switched from No to Aye:

> Abercrombie
> Alexander
> Baca
> Barrett (SC)
> Berkley
> Biggert
> Boustany
> Braley (IA)
> Buchanan
> Carson
> Cleaver
> Coble
> Conaway
> Cuellar
> Cummings
> Dent
> Edwards (MD)
> Fallin
> Frelinghuysen
> Gerlach
> Giffords
> Green, Al
> Hirono
> Hoekstra
> Jackson (IL)
> Jackson-Lee (TX)
> Kilpatrick
> Knollenberg
> Kuhl (NY)
> Lee
> Lewis (GA)
> Mitchell
> Myrick
> Ortiz
> Pascrell
> Pastor
> Ramstad
> Ros-Lehtinen
> Rush
> Schiff
> Schmidt
> Scott (GA)
> Shadegg
> Shuster
> Solis
> Sullivan
> Sutton
> Terry
> Thompson (CA)
> Thornberry
> Tiberi
> Tierney
> Wamp
> Watson
> Welch (VT)
> Weller
> Woolsey
> Wu
> Yarmuth

The lone hero that switched from Aye to Nay:

McDermott

Fuzzy:

"I think the Plunge Protection is putting the floor in right now."

I don't think the traders know what to think or where to jump. About all I see across the board, stocks, commodities, currency, is indecision. Yeah stocks have given back what they had gained today, plus a little right now, but no really dramatic moves, a blip on currencies that actually stengthened the dollar just after the vote, before returning back onto the curve it was tracing earlier today, commodities mixed to slightly down overall, after being simply mixed earlier.

So did the traders expect the bill not to pass? I doubt it, unless they were all buying on rumor, selling on news.

But the Plungers kicking in? don't think so. They'd have to be working right across the board(s). You see any "Index" buying?

I await the first serious purchase decisions of our new Overlord, Hank the Gold Man, before the markets really start jumping out of their skins. 7500 anyone?

I wonder if Bush is going to simply skip the photo-op and just fax in his signature .

In any case, I bet Paulson and Bernanke have already worked out out what they are going to be doing this weekend.

Already Signed it. Couldn't wait for the fax.

Now we're starting to see negative press on the bailout bill. Fuckers.