September 25, 2008

Chaos in Washington

After a frantic days of talks about the Wall Street bailout, negotiations were suspended with no agreement on a plan. 
While Democrats seemed ready to capitulate to Paulson's requests, and to finalize the blank check to Wall Street, the resistance of a group of hard-core Republicans, and the difficulty in finding technical solutions to the problem of highly complex securities, made the plan collapse for now. Today it will be a long, long day for the stock markets.