A friend I went to Georgetown with sent me this today (ahh, the beauties of third-hand information):
This is from a close friend in DC with close ties to Team Obama:
“What with our financial catastrophe, the only thing that’s keeping us from permanently becoming a 3rd world country is the fact that the world (particularly Asia) keeps buying our debt. We’ll see if they’ll buy the latest $700B chunk. When that stops, it’s over…”
Paulson’s comments today on television about the $700 billion plan–“it has got to work”–and his refusal to answer questions about a plan b were not reassuring.
And that’s because there is no Plan B.
7:23 pm on September 21, 2008
