Schumer Plan Back On The Table
I'm not of these people that fires up the fax machine and spams Congress on every major issue. In fact, I have only contacted someone in Congress on four issues over my life. It just so happens all four have happened over the last five years.
The Schumer plan we wrote constructively about last week is back on the table and is being put forward by Banking Committee Chairman, Senator Dodd. (Not reported by Bloomberg but by other sources that this is the Schumer plan being sponsored by Dodd.) I contacted both of these offices last week given Dodd's role on the Banking Committee and Schumer's reputation as a New York Senator with Wall Street experience. I am now confident this plan was put on back on the table because of my big mouth. Haha. Not!
Seriously, if you contacted Congress, you most assuredly made an impact on their change in strategy. Late last week Congress was ready to sign anything including any plans put forward by Joey "the knife".
Also, oil markets just hit the daily up limit and is up about $10 today. An unintended consequence of government attempting to manipulate the stock market with the short selling ban? Hot money moving to another deep and liquid market? Most probably.
The Schumer plan we wrote constructively about last week is back on the table and is being put forward by Banking Committee Chairman, Senator Dodd. (Not reported by Bloomberg but by other sources that this is the Schumer plan being sponsored by Dodd.) I contacted both of these offices last week given Dodd's role on the Banking Committee and Schumer's reputation as a New York Senator with Wall Street experience. I am now confident this plan was put on back on the table because of my big mouth. Haha. Not!
Seriously, if you contacted Congress, you most assuredly made an impact on their change in strategy. Late last week Congress was ready to sign anything including any plans put forward by Joey "the knife".
Also, oil markets just hit the daily up limit and is up about $10 today. An unintended consequence of government attempting to manipulate the stock market with the short selling ban? Hot money moving to another deep and liquid market? Most probably.
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