So I'm at home yesterday afternoon not really paying attention to the television, even though it was on in the background, when all of a sudden I hear Speaker Nancy Pelosi's voice announcing that the House had failed to pass the Wall Street bailout plan.
And then in another corner of the screen is the Dow.
The more she and the Democratic leaders talked about the lack of deal, the steeper it fell.
Analysis I've read online today suggests that's because traders on Wall Street then realized just how far apart the two parties are in coming to a real agreement.
But it was quite extraordinary, these two things in motion at the same time, one reflecting the other, one influencing the other.
When the trading was over for the day it took a good ten minutes to tally up all the losses. Even after 4 p.m. the Dow just kept going lower and lower, faster and faster.
And so it hit on 777. Like a doomed airliner, it had nosedived.
That's kind of what it felt like to watch it all happen in real time, too. Like you were watching a plane crash.
I don't know about you, but I'm still not satisfied with the explanations I'm hearing for why this has happened and what exactly Treasury Secretary Paulson believes his requested $700 billion will do to reverse it.
But I listen intently to all these men and women far more educated than I'll ever be try to explain it.
And then I realize, well, they don't really know much more than the rest of us. They just use bigger words.
Matthew Nordin | mnordin@wmbfnews.com









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