I have another explain-it-some-for-you piece up on TIME.com about Bailie Mae (or is it Rescue Ray, or Vulture Mac?).
Markets around the world are, of course, going bonkers with glee about it (Bailie Mae, not my article). I don’t think it’s the plan itself that has financial stocks rising–since no one really knows what the plan is. It’s the sense that somebody is in charge. Hank Paulson is in charge. CNBC is even running a countdown, showing to the millisecond how long it will be until the Treasury Secretary speaks this morning. It’s really pathetic, actually. But nonetheless strangely reassuring.
Well, only 2:08:37 to go. More later.