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Just to prove the whole bailout is a scurvy idea....
JP Morgan floated a $10 billion stock offering to fund the WaMu purchase AND it stock price was up 11% today despite the stock dilution. I'd say there is plenty of willing investors, IF you have a good offering!
The public hates the bailout, Obama has stood on the sidelines (he's vote PRESENT, if given the chance) and McCain's performance is about neutral, he isn't ready to commit to a bailout plan without Republican backing which might not be coming soon. Market up, McCain might just be right, if the debate goes well. The debates will settle the election this year as it has in many past.
Any handicapping? If McCain can do well tonight, he'll have an advantage going into the second debate despite being a poor economist. Too much a moralist, not enough realist. Palin should pull off embarassing Joe Hairplugs, if they let her go. It has been a damned shame how the McCainistas have tried to protect her.
GF
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