Monday, September 29, 2008


I mean legislators. President woke up, at last. Legislators are dozing. It's such a good time for politicking! Who cares about economy! Republicans approach: tax cuts cure everything! Dems approach: tax the rich, nationalize healthcare, it'll cure everything! Blame the other guy! Why is this package called "Wall Street Bailout" is beyond me. It has nothing to do with Wall Street anymore. It's about hundreds of thousands of people who will try to refinance their ARM mortgages in the nearest four months and I wish them all luck in the world. I doubt that without this bill even half of them can get refinancing. The other half is going into foreclosure, at least the most of them.

Go to cash, young man. There is no sense in equity right now. Not until this bill passed, if ever. If not, stock market is dead for couple of years.

No comments: