PoliticalChatter

After a marathon session a bailout deal appears to have been struck. It is unclear what the bill will contain, but the political spin has started. Word is Nancy Pelosi played a big role in getting it done as the deadline approached.  

Of course both presidential candidates are rushing to make statements as Obama noted he spent two weeks on the phone, in contact with the necessary officials. John McCain said it will be a hard pill for everyone to sallow.  

As for the American taxpayer, there is little to be encouraged at, unless you are facing foreclosure. It is still baffling that the government can make a $700 billion dump in mortgage market and proclaim success. True success would have been to hand out the $700 billion to all qualifying taxpayers and pay off the mortgages. Such a move would have flooded the financial segments with cash and eliminated debt, something this plan is supposedly going to do.  

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