Vote scheduled on Boehner plan after markets close

[The Straight Story]

Today should be a pivotal day in the scramble to avoid a federal default. House leaders this morning scheduled a vote between 5-6 p.m. tonight on the latest plan from House Speaker John Boehner (R., Ohio) to lift the federal debt ceiling in two stages, starting with a $900 billion increase accompanied by $917 billion in cuts.

Mr. Boehner appears to have quelled a rebellion on his right that threatened to derail his plan, which is likely doomed in the Democratic-controlled Senate. President Barack Obama also has threatened to veto the plan because it would force a rerun of the debt ceiling fight in six months.

But Mr. Boehner’s timetable means House members will avoid a repeat of the stomach-churning scene during the first vote on the TARP bank-bailout bill in 2008: At that time, markets nosedived when it became clear that the bailout proposal was going down.

This time, if Mr. Boehner keeps to his schedule, the U.S. debt and stock markets will be closed, as will major Asian markets. Stay tuned.

http://blogs.wsj.com/washwire/2011/07/26/live-blog-the-u-s-debt-battle/?mod=e2tw

[NightWatcher]

1. if he scheduled it for after the markets close does that mean he's thinking it wont pass

and is afraid to trigger the markets downward?

Does he not want the CNN Splitscreen of House of Reps/Wall St?

[still_one]

2. No, he knows it will pass, he just wants the the Senate to have the blame if they do not vote for

it. He knows time is running out, and this is the game he is playing so it will come up again right in the middle of the 2012 election

Incidently, there is after hours trading, and that would still not stop a lot of trades from occurring, not to say what would happen when the Asian and European markets open

[MiniMe]

3. I'm surprised that they would vote for it before Friday night