This morning, Jim Geraghty at NRO let us know that Senator John McCain is proposing a new version of the Resolution Trust Corp. that helped get us through the savings and loan crisis a few years ago. You can read Jim’s blog here.
Yahoo!announced this afternoon the Treasury Secretary Hank Paulson wants to do exactly what John McCain suggested this morning.
The result of that announcement? The Dow Jones rocketed up 450 points. Since President Bush lifted the Executive Order banning offshore drilling for oil, the price of crude has dropped more than 35%.
Just listen to the markets and you can figure out who’s got it figured out! 🙂