I have been meaning to post about principles of cloud computing, but what is going on in the financial world and in Washington is simply too crazy. On a day where we had by far the largest bank failure in US history (WaMu seized by regulators and sold to JPMorgan) we were treated to an absurd political spectacle. Lawmakers convened at the White House to seal a deal on the bailout only to see it torpedoed by a group of Republicans. It may be hard, if not impossible to ever find out who knew what when, but the fallout from this Thursday night debacle will likely be horrendous for the financial markets today unless a deal is reached before the markets open. Have not seen what happened in Asia over night but it sure can’t be pretty.
UPDATE: Asian markets held up fairly well and Wall Street opened down but not horrendously so. Suggests that either folks are seeing this as political spectacle that will not in the end result in a deadlock without resolution or the urgency that was claimed in selling the plan was more hype than real. Hopefully this means a cloud computing blog post on Monday!
