Pelosi and her boys emerge from that shady-sounding meeting and address the press. NP says they’ve “committed to a deal.” But they won’t tell us what it is until they “have it on paper.” Reid: “We had a breakthrough an hour ago…We think that we should have an announcement tomorrow.” Rep-cum-Caroline’s regular Barney Frank adds: “I’m happy to say that in a few days I won’t have to speak to any of the people who are here.”
Remember, though: not a done deal yet. Let us never forget Thursday. *Someone* could still very well pop in at the last second in an attempt to save ruin everything.
Pelosi and Co. have said that they’ll continue to work through the night.
Update: According to CNN, the “breakthrough moment” had to do with CEO pay. Pelosi is credited with coming up with an “idea” regarding executive compensation.
Update II: CNN says actually, according to a Democratic aide, the “breakthrough” had to do with protecting tax payers, so they won’t be on the hook.
Comments (38)
Leave a comment
You can log in with your account or comment as a guest below.
God save us all.
The beginning of the end. At least we don’t have to wait any longer.
Anyone feeling like dancing on the top of the building just as the Aliens arrive and zap you for your stupidity? Well, that is how this feels to me… (and what was that movie? lol)
~SEG
WSJ says… U.S. lawmakers said a tentative deal to bailout the financial system had been reached. Full article to come shortly.
@4– how is that different to what this post says?
Stupid Equity Guy — That was a classic scene from “Independence Day.” The alien space ships had hovered for days over various major cities in the U.S., and some of the good people in Los Angeles decided to go to the rooftops to meet them.
I think Pelosi said some time on Saturday that the actual bill would be released on the internet Sunday.
I’m looking forward to reading it.
However, in some weird way, I have become resigned to this … and $700 billion doesn’t sound as much to me as it did a week ago. Precipice fatigue.
Juan,
When was the last time you got laid Brah? Don’t diss the sisters… Seriously, I was repeating the WSJ, as I said… so like… what part confused ya?
~SEG
Did I ever tell yous guys about the time I saws yous guys?
Bess is deleting post critical of her craft. Perhaps the Anne Hatheway referneces are beyond her literary grasp.
Update III: Bess is losing control of her cribs and she hasn’t even attempted an “interpretation” of the Anne Hatheway story yet.
@9/10- That is correct, I did delete your posts, as they were ad hominem attacks that contributed nothing whatsoever to the conversation. I’m not exactly sure why you think you have some inalienable right to come here and shit all over me with your spamming, obnoxious bile. You’ve left a variation of the same comment about me sucking and the suggestion that I write about Anne Hathaway more than 7 times tonight. I get it, you have a problem with me. Let me solve that problem by inviting you to leave.
Dear Internets,
Bess rules.
Sincerely,
Me
PS – Thank you for working so late for us on a Saturday
I agree with Bess. Man, some of you guys have no class. Bess, keep up the good work.
#6,
Ah yes… that is what I was hoping I was remembering… its Saturday night and I have enjoyed my share of good beer and wine tonight. So I refuse to be bothered with worrying about being “correct” tonight before I post… So I just winged it.
Flock it, the world as we know it has already ended, WE, those still standing, are but here to mark the fall of the last Titan’s of this business. The world as we know it has ended, and anyone who does not understand that is a future Darwin candidate.
How many Billionaire’s have been slayed in the last few weeks? I can name half a dozen that I know of… how many more (almost rich) that we don’t have a clue what their name was, and who will never rise to the top now?
The system is broken, and the escalator to wealth is broken compared to how the last decade or two has experienced it.
Should we start a “Not Billionaires Club” (NBC) for the ghosts of Wall Street?
~SEG
@11 Really, Bess. Many of your blog posts are “ad hominem attacks” on folks you don’t care for, partiularly folks who don’t share your politics. Not clever puns but nasty attacks and curses. So, I took an opportunity to return the attitude in kind. It would be great for you to chase down that Anne Hatheway derivative scoop. That’s what this blog’s all about, right?
@15-clearly you are not familiar with this site. also, you are a nasty little troll. LEAVE.
It’s so late. Bess you did great tonight, as always. Turn off the computer and get up early. Fun starts all over again in the a.m.
Thanks for all the work.
Don’t you go out for drinks Bess? Are you an old lady, like in her 50′s?
Everyone here seems to think you’re young and hot. I don’t know you but I am concerned for your well being, posting stuff at midnight on a Saturday.
That isn’t good, regardless of your age.
Bess, Politico, Fox News and CNN will be so grateful for your effort in getting their work to go viral. Advance the effort further by sending your posts to 10 friends and ask them to do the same. But don’t forget that the Anne Hathaway story awaits your interpretation.
@18- perhaps because her readers demanded she update them?
http://dealbreaker.com/2008/09/scenes-from-a-bailout.php#c76
@19/10/9- seriously, dude, you are a creepy abusive motherfucker. enough with the comments about your disdain for bess/retarded joke about anne hathaway. you need to get a life.
@SEG
Welcome to the source of my anger.
I’m going law. I think the bonus structure will be better in coming years, and on the back end (assuming you do M&A, Tax, Securities law) I think there will be opportunities, should banking make a come back, for us to transition.
My 2cents.
And to you indigent fuckwads bothering the Bess: just.. stop. Really. You’re 19, and full of piss and whatever, but no one gives a fuck what you have to say. One day, you’ll grow up and (presumably) find someone dumb enough to marry you. You’ll breed excessively, producing sub-standard children who excel at yarn-based activities. Those people will love you and give a shit what you have to contribute. Live for that day, because we don’t care.
Thank God that McCain “focused”, otherwise we would never have had a deal.
I hear McCain is heading to CERN to do some focusing there too.
@22 Take your “two cents,” add a dollar or two, and send to the Bess Institute for Advanced Anne Hathaway Studies. Perhaps, then, the public will finally get the Anne Hathaway interprtation that it craves.
Sausage… you sound a bit fried… ~SEG
In other words, the Politburo will hand down their new 5-year plan on Sunday.
@11 Bess: F*ck the haters. You’ve done a phenomenal job since you’ve been here and especially tonight. For those of you who want to be “badasses online,” get a life. Your years of inadequacy will not magically be cleansed by talking smack anonymously on blogs.
Keep up the good work Bess.
@the asshole who’s obsessed with Anne Hathaway.
Dude, we get it. You have a tiny penis, and know that you’ll never lay anyone as hot as either Anne or Bess. So really, just go JO&C already, dude. I know you got beat up in HS for being a pussy, and I know it hurts. But you know what, being annoying online really doesn’t help. Try watching porn instead. Or shoot yourself. I couldn’t really care less.
who’s anne hathaway?
Good job Bess.
Either the financial world as we know it here in the US is going to change, or it’s not.
The times is running a “Wall Street, RIP” story.
But I am assuming that in the same manner that reporters and financial reporters are never in front of the curve on anything, this is a misread as well.
Indeed that article has internal logic constradictions, implying, for example that Goldman (in its new structure)will lose those employees who want higher compensation, and yet arguing that the other financial firms (hedge funds/PE) will not have great profits. You ask yourself, “Well then where is everyone fleeing too then?”
This reminds me a little of the period after 911, where all the articles were suggesting that “Everything is different now”.
In actuality, no. There will be more regulation certainly, and a period of continued price collapse, as people hunker down, clean out the garbage, and preserve capital. But after stability arises, innovation will follow. And as assuredly as we have bubbles every ten years, we will see more bubbles.
We might get a more dispersed “Wall Street,” as PE and hedge funds evolve and broaden, and in locales from Chicago to Tx to CT, but it’s foolish to assume things will be fundamentally different. Same game, same human nature, same American talent, different firm names.
Unless, it is truly different, the bailout does not work, all goes to hell. In which case nothing will matter but proximity to land, gun, gas and food.
Bald & Beard Farm Bailout plan :
You’ve got two cows, you put the farm on fire to get the insurance premium, and you explain Congressmen that everybody in the neighbourhood has to come fight the fire with their milk.
more IB failure cows at :
http://www.lacrisepourlesnuls.com
@31…dude, really? why the fuck does every two-bit hack think they can advertise their third-grade writing ability on DB? Clearly, you couldn’t make a living doing this, and I assume you know that, since you have a blog, not an actual publication. So the question is, if you’re not good enough to get paid to do it, then why do you think you’re good enough for people to bother reading? I’d say don’t quit your day job, but given your apparent idiocy, your day job probably blows too.
I can’t sleep so I put together the following:
http://spreadsheets.google.com/pub?key=pH8M5koCbpH5iKl3rxzToQQ
It’s pretty basic, but it lays out in no uncertain terms the incentive for the American Government to intervene at this point. Of course it’s set up so you just need to change the assumptions, at the top of the page.
And Google Docs sucks.
@33
Losers use google docs. Winners use pencil and ruler. Old school bitch.
@9/10/15 I know I’m a little late here but who the fuck do you think you are? You’ve decided you have a personal problem with people on this site because what they write doesn’t fall in line with your delicate sensibilities and you expect that to mean something? You’re an obnoxious little nobody who thinks the fact that you can stretch your mind just far enough to sign in and post a comment gives you some kind of standing to deliver judgement on this site. It doesn’t. You’re kindergarten teacher lied to you. Your opinion doesn’t count. If you had something constructive to write, it’d be one thing, but you’ve already demonstrated you lack the capacity to tell the difference between writing about someone and writing about someone’s actions as well as the ability to grasp anything more intellectually challenging than Perez Hilton. This has been a shit couple of weeks for everyone involved in the business, and I know I have to tell you that because you’re obviously some little dipshit who thinks the one share of Google his dad bought him for high school graduation makes him Warren Fucking Buffet or you’re an intern at a dollar broker and you know if you just keep at it long enough they’ll bump you up to two personal items allowed in your cubicle. You’re less than nothing and everyone here knows it. Bess and EP, let me say you have done an amazing job keeping up with news and analysis while adding some levity here and there when there really isn’t any to be found. Thanks for that. As for the little shit, I’d tell you to go fuck yourself but it’s clear you’re only here because you’re out of Purel and so badly chafed you can’t walk. I will join everyone else and tell you to go away and never come back.
Bess, what are you doing blogging about Congress at 12:30am on a Saturday night?
bess and EP were doing “something”
early in the morning they arent awake to post Nancy Pelosi’s press release.
wake up you snorty ****
they should post the plan on google docs like #33