Hennessey also tells us legislators don’t understand the impact the credit crisis will have on the nation as a whole. “Lawmakers on both sides of the aisle are having trouble putting $700 billion in taxpayer funding at risk,” he says. “If they don’t see the direct effects of doing that, they’re finding it difficult to vote for it. But I think they’re now starting to see the consequences.”
I think it’s all election politics. It seems to me 12 politicians were playing chicken, says Karen Finerman.
Politicians know nothing about running the financial system, exclaims a disgruntled Jeff Macke. They’re running their mouths are Rome burns.
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Trader disclosure: On Sept 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (WMT); Adami Owns (AGU), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL) and (AAPL) Puts; Najarian Owns (BIIB) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (MS) and (MS) Puts; Najarian Owns (NCC) Call Spread; Najarian Owns (WB) Put Spread; Najarian Owns (XLF) Straddle; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (DVN); Finerman's Firm Owns (IMCL) Call Spreads; Finerman's Firm is short (IYR), (IJR), (SPY), (MDY), (IWM), (COF), (SPG, (BBT); Finerman's Firm Owns (BIIB) Calls
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