Friday, July 15, 2011

The White House back channel

Barak Obama <-> Jamie Dimon <-> Grover Norquist <-> GOP

In the new normal, Congress make very large transaction every six months it seems. The chain of command above is the market, it works like a bridge loan.

A bridge loan for the Senate, actually, which at this time is completely non-functional. Their bandwidth is limited to 18 months transactions.

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