Posted on 09/25/2008 9:17:06 PM PDT by Shermy
If Congress doesn't pass a bailout bill, Bernanke and Paulson warn the economy might go into a deep and prolonged recession or worse. The mere fact that the two people who essentially run the American economy have issued such a warning is itself enough to generate a self-fulfilling prophecy of economic meltdown if the bailout doesn't come through -- at least in the weeks leading up to Election Day. Congress knows this, and doesn't want to be held responsible. So it's almost certain that a bill of some sort will pass, and probably by Friday. But what happens if by some twist of political drama it doesn't pass? A 5 percent chance of major meltdown of capital markets in the US and around the world.
Oregon State will beat USC
Interestingly, Reich does not follow the claim there is a real crisis any greater this week then last, doesn’t credit/discredit Bush, and takes these tactics as being more about perception.
Reich, like Soros, doesn’t really want intervention. He wants chaos prior to the election so we get the Marxist Messhiah.
Reich comes up short again...;^)
Like waiting one week would do anything..
These people are scare mongers. THIS IS THE NEW GLOBAL WARMING...
JP Morgan isnt scared.
There will be a new pop singer, who will start out virginal and then turn into a trollop.
Memo to Robert Reich: The names of countries where people "run" the economy start with "Soviet" or "People's".
Does that surprise mean the financial crisis is as big as Bush implies?
Look at the last two slides on the presentation on this guy’s website. Its on the bottom of his page and called “The Subprime Bailout.” Not the last slide, but the two previous, particularly the overnight ABCP spreads. They ARE huge and much worse this week than last week Reich, you creep.
http://www.public.asu.edu/~absander/
Now you can you what Paulson and Bernanke are scared about.
Soros, Reich, Buffett — they all want something terrible to happen to get Obama elected. Scum.
I don't think Bush would dare issue an EO, but I'm not sure.
I love it how Rush pronounces his name as Reissssccccccccccch!
The provisions demanded by the rats are so oderous that no bailout is preferred. The rats want to give ACORN a huge amount of the bailout and give judges the power to dictate loan terms. The stench of these two provisions is overwhelming.
It just happened!
I think Mr. Reich comes up a little short in his guess.
They did! Go Beavers!
Somehow I suspect Reich was one of the persons that caused this mess in the first place.
bingo you got it
He was,
but I find it interesting here his take is agnostic on the crisis as Paulson portrays it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.