Sunday, September 28, 2008

Another Problem For The Economy

(h/t Complacent Panda, now a member of the blogroll)

Pailin & Couric On SNL

Sorry about all the Palin posts... but this is great.

I'd almost feel sorry for her at this point, being the laughingstock of the world and all, if it weren't for the utter hubris that got her into this position in the first place. The more I listen to her, the more I'm offended that she feels ready to lead our country. We, and our children, deserve much, much more.

Still, my fear right now is that barring a complete meltdown in her debate with Joe Biden this Thursday night that she'll "win" it, if only because the bar of expectation has been set so low for her. But please, let's be smarter than that.

UPDATE: Back to stocks for a moment, if this tax is passed, it would be very bad. (h/t "Renaissance Man" Jake Gint)

UPDATE II: That "tax" on securities transactions didn't get into the bill. According to the NYT:

Among the last sticking points was an unexpected and bitter fight over how to pay for any losses that taxpayers may experience after distressed debt has been purchased and resold.

Democrats had pushed for a fee on securities transactions, essentially a tax on financial firms, saying it was fitting that they contribute to the cost.

In the end, lawmakers and the administration opted to leave the decision to the next president, who must present a proposal to Congress to pay for any losses.