Daddy Paulson says everything's gonna be okay. Market believes him
I have another explain-it-some-for-you piece up on TIME.com about Bailie Mae (or is it Rescue Ray, or Vulture Mac?).
Markets around the world are, of course, going bonkers with glee about it (Bailie Mae, not my article). I don't think it's the plan itself that has financial stocks rising--since no one really knows what the plan is. It's the sense that somebody is in charge. Hank Paulson is in charge. CNBC is even running a countdown, showing to the millisecond how long it will be until the Treasury Secretary speaks this morning. It's really pathetic, actually. But nonetheless strangely reassuring.
Well, only 2:08:37 to go. More later.
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This won't work until these guys get a real handle on what is the real problem.
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"Bailie Mae, not my article"
efficient markets factor in all news, so how do you know it's not your article?
well besides that fact that we um have slightly less than efficient markets..
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I just find it ridiculous that Paulson is probably responsible in part for the issues in the economy we are having right now. He was the CEO of Goldman during the entire boom market, and now he's bailing them (and the rest of wall street) out when the house of cards he helped create is starting to crash down. So while the rest of the normal taxpayers get fleeced with handing out hundreds of billions (sounds to me like trillions), Paulson's stock holdings get to be safe because of direct actions he is taking.
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