Ok, now that the House passed the bailout plan, we're officially a socialist country. Thanks to George Bush, we're capitalists in good times, socialists in bad. Lenin would chuckle.
Will the $700 billion (plus a billion and a half of pork barrel) cash infusion do anything to ease off the credit crunch? Who knows. But at least we're moving in some direction. Only time (and who knows how much time), will tell if this measure worked.
Now the devil's in the details. What assets to buy and how much to pay, how to manage these assets and for how long, but most importantly, when to quit and change direction if this plan doesn't work.
But, folks, the good news is that stiffling feeling we've had might ease off a bit. I hear the old train wheels move, after being stuck in between subway stations in New York City during a hot summer afternoon, without air conditioning. I don't know when we'll get to the next train station, but I hope to get home in one piece at the end of the day.
And now that the train is moving slowly, I realize the only real leadership shown during this financial meltdown debacle has come from Henry Paulson. He even went on bended knee to beg Speaker Pelosi to take swift action. That's when Pelosi touched both his shoulders with her sword and planted the crown on his head. Long live King Henry!