Saturday, July 30, 2011

Washington Wants Help from Wall Street

As each day gets closer to the Y2K of 2011 (Obama's Debt Default Day), word is getting out that the DC amatuers (likely kids just out of college who got a gig working for a Congressman) are hoping for Wall Street to have a plunge, to influence more Congressman to vote for whatever junk bill Harry Reid and John Boehner can gin up. It's all too clear that we need to decrease the role government has in tanking stocks.

Washington Is Annoyed at Wall Street's Failure to Panic
As he explained it, lots of people in Washington, D.C. expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluctant lawmakers that they had to reach a compromise on the debt ceiling.

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