I am NOT a conspiracy theorist, so don't jump down my throat.
But does something stink here?
We knew about these problems in the market AT LEAST since last August 2007 - not necessarily the extent - but we all knew that 'sub-prime' stank.
Now, FIVE WEEKS out from the presidential election, Congress is being urged (bullied) to past the biggest financial restructuring in the United States since the New Deal - and quick! Could this be Bush's parting legacy? Surely, you don't want to rush this.
Also, according to a report in today's UK Independent, Lehmann Brothers funnelled 8 billion GBP out of its European operations in the week before the bankruptcy, putting aside 2.5 billion GBP for bonuses for its 10,000 New York employees - a sum protected under the terms of the bankruptcy. Meanwhile, London's 5,000 Lehmann employees still dont know if they will be paid their monthly wage.
What a waste - a huge waste it will be - if there is restructure and reform and these cowboys are allowed to start again business as usual on Monday.
I hope the Democrats put their foot on the back of the necks of these Republican's, Treasury officials and the Fed, for the sake of the whole system.
They wont. But I hope they do.