“Many commentators claim, however, that virtually no transactions are occurring in this market. These claims are completely false. For the week that ended October 1, which is the most recent week currently reported, total commercial paper outstanding amounted to $1,607 billion. Yes, this amount was down from the $1,702 billion reported for the previous week, but is a 5.6 percent drop a good reason to panic? If we go back to March 2008, when nobody was talking excitedly about the commercial market’s “freezing up,” we find that the total amount outstanding, on average, was $1,822 billion, or only 13 percent more than last week. In March, the market was working fine; now it’s “locked up.” This sort of hyperbole, with which we are being bombarded hourly around the clock, is totally without a basis in the facts.”

Whats even more insane, is the Congress, in its infinite stupidity, did nothing, NO THING at all in the bail out to change the rules that caused the failures in the first place. (Wouldn’t want to deny anybody the “right” to own a home would we?)

Total lack of adult supervision in this Congress.

There’s going to be a lot of ’splaining to do, and as far as I can tell, which ever party wins, it could not happen to a nicer bunch.

I dont think 700 trillion is going to come close to fixing this.

THat all may be true. But with 70 to 90 % of the population being against the bailout, McCain blew a huge opportunity last week by not taking a stand against it.

All Obama had to do was sit tight.

This is true.

Of course, Obama did not take a stand against the bailout either, so he did not miss an opportunity to miss an opportunity.

All Obama had to do was sit tight.