Golf Could Have a Big Deal on Its Hands

by Ryan Ballengee on Sep 29, 2008 2:30 PM EDT

I don't normally talk about politics in this blog. But, given the purchase of Wachovia and the apparent failure of the vote on the bailout in the House of Representatives, the golf world could be seriously hurting. Sure, the banks that went down so far had a lot of money in with. Merrill was a pretty big deal. Wachovia definitely is a big player. Others could be going down if some kind of action isn't taken to ensure the credit markets remain open.

What in the world happens now? Curiously enough, Jon Show and John Ourand at Sports Biz Journal took a look at the environment for golf given the situation over the weekend.

If Show is reading, what are you hearing now about the impact of this vote?

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too early to tell...

…what will happen with these big financial institutions, and from there to things like golf and the tours. The government is doing what it does – playing politics with our money. A month from the presidential election and people like Nancy Pelosi are making it a party issue. She just tried to accuse the White House (Bush) of corruption. She was halfway right – this mess is a result of Bill Clinton’s initiative to force these lending institutions to lend to people who couldn’t pay back those loans. She is also trying to float the idea that Clinton had budget surpluses – even though those numbers were proven to be false because they were claiming Social Security and Medicare funds.

"this ball will fit in that fairway"

by courtgolf on Sep 29, 2008 3:13 PM EDT reply actions