The $700 billion crap sandwich was not appetizing to enough Representatives to get them to vote for it. It can’t have helped the crap sandwich’s chances at passage that San Fran Nan wagged her stinkfinger at Republicans to tell them how this was all their fault… as if ACORN, Barney Frank, Chris Dodd, Jamie Gorelick, Franklin Raines, James Johnson Andrew Cuomo, and ACORN’s lawyer didn’t make this happen. Phone calls, email, faxes, and letters from constituents running at 10:1 against for Democrats and 100:1 for Republicans surely didn’t help either.
At the same time, the Fed has increased its foreign currency swaps to $620 billion.
Expect the Fed window to open a new credit window pretty close to the original $700 billion figure.
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