Friday, September 26, 2008

The Bailout: RIP

Oil shale development. Food stamps. Mortgage relief.
Politics is quickly vapour-locking any chance of a Wall Street bailout.
The Democrats are willing to bail out the street if they get a few bones for the poor. Bush says he'll veto that.
Bush wants oil shale development, which has nothing to do with the economic stimulus or the bail-out. It would be one more little present for his oil company pals (though it may also be a good idea for energy security).
The House Republicans oppose any government money for bail-outs.
A big hint that the bailout is dead will come if/when the ban on short selling is extended. It's due to expire Oct. 2.

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