AND THE SOBERING THOUGHT...:

Bailout not dead yet (RYAN GRIM & MARTIN KADY II, 9/30/08, Politico)

The bailout is back.

Senate leaders have decided to take up the failed House version of the $700 billion economic rescue bill, and plan to add a widely supported change in the Federal Deposit Insurance Corp. caps.

Dollar Takes Bite Out of Euro On Ravenous Overseas Cravings: Yen Also Takes Fall Against Currency on Bailout Hopes (DAN MOLINSKI, 9/30/08, Wall Street Journal)

The dollar soared against the euro as signs of trouble in the European banking sector created overseas demand for greenbacks.

The yen also fell victim to the U.S. currency Tuesday, as a partial recovery in U.S. stock markets from Monday's free fall boosted risk appetite, leading investors away from the low-yielding Japanese currency.

Currency investors put aside their worries about the U.S. banking system Tuesday as optimism rose that Congress soon may reach agreement on the government's proposed $700 billion financial-rescue package.

...as big a mess as the Congress is they're more effective than anyone else's government. Here's one time we could use some help saving the world economy and there's no one but us.

Posted by Orrin Judd at September 30, 2008 8:36 PM