The internet is a little better now, so I’ve got to give some props to Barney Frank before I drift into slumberland. Barney Frank has been on point all day, and his latest statement to the press sums up my position on McCain’s attempt to derail the bailout plan. As much as I hate it, Paulson’s bailout plan must be passed post-haste and with the overwhelming approval of congressional republicans. Any form of disunity will send shockwaves through the market. Tonight I’m predicting that turmoil in Washington over this proposal will send stocks down at least 100 points in the first hour, which may be a conservative estimate. But I guess we’ll know in a little bit.
[BREAKING — Barney Frank: God save us from John McCain’s “help” - Crooks and Liars]
