Playing chicken with US $700 Billion

It is 7:30PM here in California, Thursday, September 25. My partner is usually a calm person who goes through life with a calm demeanor. Barack Obama should copy him. However, he just went into my office and announced in sad and depressed voice that the proposed rescue plan is no longer plausible. It seems that politics, as usual, has killed whatever the Bush administrated wanted to do as its last hurrah.I am sure that by now, Asian financial markets are going on a tailspin. Europe will be following next, until we wake up tomorrow, and is our turn to have another Black Friday. I have been riding this financial crisis like a person on smaller waves. Because of my own risk allocations, my financial ups and downs replicate the Dow Jones index, but on smaller curves. So, actually, I have been doing quite well given the circumstances. But I wonder how much longer this total lack of confidence in our financial markets will last.

As my readers have known, I have not been a cheerleader for the Republican Party’s presidential candidates. Part of it comes from the party’s social conservative beliefs. Part of it comes from being annoyed at the pure arrogance of their belief that they are the flag carriers of this country. However, for a while, I thought John McCain, as he claims, was a person who has his own beliefs and chartered a course that followed his own convictions. I kind of liked him and even contributed to his campaign during the prior election.

So, I feel saddened today that such a maverick has decided to take actions, at whatever costs, sorely to obtain the presidency. It has been clear that the tactics of his campaign are guerilla tactics. In this case, but for him bringing his face into Washington D.C., the rescue plan may have worked. As the leader of his own party, I hold him accountable for not controlling his members. He did not offer any other alternatives, and we are certainly beyond establishing a 9-11 commission to see how this country can be rescued. So, to Mr. Maverick, how do you feel watching Washington D.C. in flames? Do you imagine yourself as Nero viewing Rome?

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