Financial markets

by Liz Peek

wOw's Wall Street Weekly with Liz Peek

Thank God for the long weekend. I am hoping that over the next two days the authorities here and elsewhere will figure out some potent next steps aimed at stemming this horror show; something that investors might actually believe in. At the least, the market will not be able to go down.

What can the Paulson team actually do? Here's my take: Investors and voters have little confidence in the once-$700-billion-now-$900-billion rescue plan. There are a number of reasons for that  -- it is complex, the original presentation was vilified as a bailout for Wall Street and the final package was so bloated it made the Fat Cats look anorexic. The plan also failed to buoy confidence because it wasn't immediate --  the best guess was that it would not be implemented until mid- or late-November.

What's that all about? Here we have the fiscal dream team telling us to hurry, hurry, hurry to get this bill enacted -- and then they can't figure out how to buy some securities? Is this an emergency or isn't it? Read More »