pan--did you not see what happened yesterday? were you not paying attention?
what you think a Great Idea--we have A Meeting of the Whole Team and we all pull together at once, as if the National Will can be sent through all available wires endowing the Leader with SuperHuman Powers and once that happens BAM! into fragments go those pesky problems---that Great Idea, which works out pretty well in superhero comics, is what cowboy george tried yesterday--and it was torpedoed by the far right of the republican party in the house.
what you are watching is faction fighting WITHIN the republican party taking precedence over everything else.
what you are watching is a bit of gamesmanship from the right.
whether you think it'll work, whether you think the far right in the house--the gringrich people---are positioning themselves relative to some conservative base already assuming that mc-cain is cooked, so they're positioning themselves for a subsequent fight or not, the division you're complaining about is coming from your new and improved conservative side of the aisle.
personally, i think the far wing of the republican party just did a job on mc-cain. more damage than a dozen unscripted sarah palin answers to perfectly simple questions.
and i think that is funny.
by the way, central banks had to move to squash a total freeze-up of interbank lending this morning thanks in significant measure to the republicans little stunt:
Quote:
Central banks step in as bail-out fears mount
By Norma Cohen, Economics Correspondent
Published: September 26 2008 08:09 | Last updated: September 26 2008 13:41
The Bank of England moved on Friday to inject longer term cash into money markets as part of a co-ordinated effort with the US Federal Reserve, the European Central Bank and the Swiss National Bank.
The intervention came after White House talks over a $700bn bailout for the US financial system broke up late on Thursday without agreement.
Money market traders said that interbank lending for terms longer than a day had come to a near standstill as counterparties feared that they may be lending to a bank that could suddenly become insolvent.
The Bank of England said it would extend $30bn in cash for a week against eligible collateral, drawing on currency swap lines put in place earlier this month with the Fed.
”These operations are intended to address funding pressures over quarter-end,” the Bank said.
The Bank will also make $10bn available for overnight borrowing. It had previously agreed to provide $40bn daily in overnight money last week, but so far, there has not been demand for the full amount.
Moreover, the Bank said it will inject longer term money into the sterling markets, as banks had been pressing it to do. It said it will extend its long-term repurchase operations against extended collateral, including mortgages. As of September 29, it will offer £40bn for maturity on January 15, taking banks through the year end when cash is generally hoarded by banks.
Bankers welcomed the move. Stuart Gulliver, chief executive of Global Banking and Markets at HSBC, said: ”It’s what the market was looking for. It shows a willingness to listen and will alleviate stresses in the UK bank system right through year-end.”
Money market rates have been distorted as banks parked money overnight, with overnight funds rates far below the Bank of England’s 5.0 per cent rate. However, as of Thursday, money borrowed for three months on an unsecured basis was trading at a crisis high of about 1.5 percentage points above the three-month forward overnight rate, known as SONIA.
The Bank said it would continue to drain reserves from the short term money markets to help keep those rates in line with its Bank Rate.
In addition, it said it and other central banks will continue to work closely and ”are prepared to take further steps as needed to address the ongoing pressures in funding markets.”
Additional reporting by Peter Thal Larsen
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FT.com / In depth - Central banks step in as bail-out fears mount
but in your world, pan, the problem is the debates?
i am not familiar with your world.
what color is the sky there?