That was financial Armageddon approaching that we watched this afternoon and evening. Senate Republicans, who are widely acknowledged to be the stupidest creatures on earth (some would argue HOUSE Republicans....), but this is stupidity of monumental proportions. For a variety of reasons only Hoover or perhaps Genghis Khan would understand, these morons have scuttled the Detroit mini-bailout, passed WITH the support of House Repugs, and basically said Fuck You to Detroit, investors, workers, and ultimately, the economy. To see a preview of the economic disaster looming, look at the overnight numbers in the futures markets (SP and Dow down up to 5%)
It's so frightening that it frightened Shrub and his bagman Paulson into actually doing something, even if it's only a threat at this point.
If this idiocy stands, and one or two of the Big Three fail, we are talking a replay of the Great Depression. The upside is that the Dems should sweep the House and Senate in '10; the downside is that we might not get to '10. When is that Aztec calendar scheduled to end?
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