I believe I know enough about economics and our money, banking and investment systems to know that the bottom line in this financial crisis is that the our learned economist/academic community and the Wall Street and Executive Branch experts (not the Bushies, but the lifers) really and truly cannot predict what will happen with implementaion of whichever proposed treatment plan.  

I am a strong Obama supporter and I recognize that McCain's antics are pretty much political theater. However,  McCain's antics are allowing an unintended opportunity to Sen. Obama and the Democratic Congressional leadership to slow their own rush to judgments about the direction and scope of the bailout process that will be necessary.        

I agree with DF in his post that we need to forget about saving certain investment banks and need to worry about protecting the taxpayers interests. We have a vibrant bankrucpty process that will take care of  residtribution of assets and liabilities. Any infusion of $ 350 to 700 billion will bring better results overall if the money is injected selectively by a new administration and Congress over the foreseeable future, with tradeoffs like DF suggests, rather than giving Wall St. a virtual blank check. 
 

The housing market bubble had to burst and the long over inflated values of the stock markets have to come in line with reality.  Besides, taking it slow is clearly what the populace wants and I hope Sen. Obama and the Democratic leadership are getting this message. 


Forget about the illusory credit McCain might get for slowing down the rush to judgment. In the end, only the Repub kool-aid drinkers are going to vote for McCain anyway.  Forget about the stock market over the next couple of days (there is probably some manipulation occurring anyway).  Let's do this right.