It’s you classic Cavuto but a surprise nonetheless. Neil understands the importance of Wall Street but like the rest of us, he too has grown weary of the fear mongering. In Neil’s closing monologue last night he makes the case that even with the impending debt ceiling crisis no deal is better than a bad deal just to keep Wall Street honchos happy. Listen to the whole thing. It makes a lot of sense.
As you listen to this remember we were told TARP was necessary or the country would fall off the cliff. And yet no makes the case we fell off the cliff anyway. Wall Street like any other business entity 1st and foremost looks out for Wall Street. Just something to keep in the back of your mind is this battle continues.
As I said before, TARP was Hank Paulson’s way of keeping his friends from having to move from the Hamptons to Yonkers. I’m hoping that’s not what’s going on this time.