It's very important that the determination of the US Congress to do what is is needed be made evident this week and by the actions of most of the members. I mean, you're not going to get total assent.
Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.
I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became apparent that 20 billion wouldn't do it and 30 billion wouldn't do it and 40 billion wouldn't do it. So it got beyond anybody's ability to certainly to do it in a short period of time.