I have two cousins. Yay!! High option vols ain't so bad. Push it back until after Oct expiration. I like you country
they should show senate in action on TV: " In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to âblow it upâ by withdrawing her partyâs support for the package over what Ms. Pelosi derided as a Republican betrayal. âI didnât know you were Catholic,â Ms. Pelosi said, a wry reference to Mr. Paulsonâs kneeling, according to someone who observed the exchange. She went on: âItâs not me blowing this up, itâs the Republicans.â"
Dont be too hard on the GOP. 1. For the last 18 months the US has been assured by Paulson, Bush and Bernacke that the economy is strong and the banks are OK. 2. Cost of living has increased, house values have fallen, job security has decreased, a lot of people have walked away from their homes. 3. Banks execs have made fortunes creating packaging CDO's and CDS. They may well be the main beneficiaries of the bailout. 4. The main proponents of the bailout assured us everything was OK as little as 2 months ago. No-one trusts these guys anymore, they should have told the truth last year. 5. Would the bailout do any good anyway up to 165Trillion of paper support by $700b of cash? 6. Credit is already tight, the bailout may not do anything to help. I don't blame anyone for being sceptical. Cheers
It wasn't the constituents you idiot. The banks had to write off huge losses because they were involved in the casino game on derivatives. We need to ban derivatives gambling, that's all. (google Glass-Steagall Act)