Slowbama

Still fiddling while Rome burns…

Obama’s latest remarks this morning did manage to calm markets somewhat as the Nazz went green and the Dow gained back half of its opening whoosh lower…

From CNN:

The House plan “has no chance of becoming law,” Obama said at the White House. “The time for putting party first is over. The time for compromise on behalf of the American people is now. … It’s important for everybody to step up and show the leadership that the American people expect.”

“This is not a situation where the two parties are miles apart,” the president insisted. But “we are almost out of time.”

On a related note, my friend Dynamic Hedge is back in town.  He’s got a trip down memory lane for you over in the Mixtape if you’re not sure of what happened the last time DC played politics with a fragile financial issue.