Sunday, September 28, 2008

Potential Bailout Deal Reached: Will House Republicans Blink?

The potential deal is exactly the same as the deal we almost had on Thursday, before McCain blew it up.

The only difference?

They've included the hugely expensive Republic insurance scheme, even though Paulson says he won't use it.

Paulson - quite rightly - doesn't want to use the insurance scheme because it is a hugely expensive big-government bureaucracy. It is bizzaro Republicanism. But if putting it in gets the deal passed, fine.

How much damage did the House Republican grandstanding do to the economy, besides causing the failure of WaMu? Only time will tell.

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