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Reply #8: We're all ignorant now ... [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
RoyGBiv Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-29-08 07:30 PM
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8. We're all ignorant now ...

This is new territory.

Anyone who tells you they *know* what is going to happen next is trying to sell you some mortgage backed securities built on sub-prime loans.

The answer to your first question, though, is a political one. The enormous unpopularity of the idea of a bailout of this magnitude puts them at risk in the upcoming election. The votes on this were cast less for "do what's right" reasons than "do what makes me look good" reasons. That's not true of *all* of those votes, of course, but it is true of a significant number of them on both sides of the aisle.

Whether it is good for Obama is a short term/long term question. In the short term, it probably helps him because it keeps the disaster that is the American economy front-and-center and constrasted sharply against John "the fundamentals are sound" McCain.

Long term, who knows?
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