Rules of Congress
Some rules about Washington that Wall Street needs to know:
- Never give Congress a deadline
Unless there's enemy tanks on the Washington Mall, don't expect Congress to rush into anything. They do things there way.
- Never ever give Congress one option on a bill.
Every Senator / Representative will want to add something to it. Giving them the do or die option will always results in... die...
- Never rely on Congress to bail you out.
That's not the role of Congress, it was until the 16th Amendment (Enactment on February 3, 1913) to the United States Constitution that they had any money control.
However, a 777 one day drop does call for some action. So expect so breaking news overnight to calm the markets.
Anyone else ready for Post-Season baseball??