UPDATE: I do wish he'd been able to sell us on the plan with an explanation of how we'd be taking advantage of the market and probably making a profit in the end. (If that's the case!)
IN THE COMMENTS: peter hoh said:
I heard that Wall Street traders will treat us like liberators.
AND: I made a new post out of Peter's great great comment, so if you want to comment on that or just get a fresh start in comments on the Bush speech, go there. Also, in the WSJ Andy Kessler makes the argument I wanted to hear Bush make, that we can make money by taking advantage of the market.
Firms will haggle, but eventually cave -- they need the cash. I am figuring Mr. Paulson could wind up buying more than $2 trillion in notional value loans and home equity and CDOs for his $700 billion.
Now, why didn't Bush say that? Well, he kind of hinted at it. But maybe he didn't want to say it for reasons embodied in Peter's great great comment.