A chronologyThursday, September 25th, 1:10PM – Chris Dodd and Company say an agreement has been reached. Must have been Dodd’s Plan.Thursday, September 25th, 4:32PM – We’re now hearing about ‘wreckage’ and ‘climbing’. Those dramatic terms probably got a lot of web hits.Thursday, September 25th, 6:17PM – Unraveling because John McCain wants private markets involved?Thursday, September 25th, 11:37PM – Deal breaks down and Paulson goes home. Who’s plan was this again?Friday, September 26th, 9:02AM – Republicans to blame. Yep, Dodd’s Plan.Friday, September 26th, 11:54AM – Barack Obama sees progress. I’ll bet Dodd handed over his plan.Friday, September 26th, 11:58AM – It’s all Newt Gingrich’s fault?Friday, September 26th, 12:36PM – Must be Barack’s Plan now – he’s blaming John McCain too.Friday, September 26th, 2:40PM – All sides negotiating.Friday, September 26th, 7:54PM – Barney Franks says “we’ll have a deal by Sunday” (the same Barney Frank that said nothing was wrong with Fannie or Freddie – video 01:18).Saturday, September 27th, 9:05AM – Everyone is hung over; good thing the markets don’t open tomorrow.Saturday, September 27th, 2:31PM – No doubt a bailout is necessary. And no doubt ‘taxpayers will get hosed‘.Sunday, September 28th, 10:15AM – A comparison of Paulson’s Plan to
Chris Dodd’s … Barack Obama’s … Barney Frank’s Plan.Sunday, September 28th, 11:46AM – The financial system needs more than Botox.Sunday, September 28th, sometime in the afternoon – Tentative deal reached, but will it hold? You’ll have to wait until next Wednesday to find out.Sunday, September 28th, 12:15PM – A summary of the agreement. [Full text here]Sunday, September 28th, 6:15PM – The private sector Barney Frank got us into this mess. His plan will get us out?Monday, September 29th, 7:14AM – Quit targeting asset prices, Messrs. Treasury and Federal Reserve.Monday, September 29th, 12:00PM – The plan is imminent, but markets are tumbling anyway. And that is despite the Fed pumping a third of a trillion dollars into the system.
I wonder who will take credit for the plan next.