Bailout Bill Shot Down in the House

The US House of Representatives stopped the Bailout Bill dead in its tracks with a vote of 228-205. On this news, the stock market went into a dive. At the time of this blog entry, the DJIA was down 673 points. It seems like the only thing that will stop the free fall in the market will be the close of the trading day.

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3 responses to “Bailout Bill Shot Down in the House

  1. this is what happens when people take more than they need or deserve. Paying your self $15 million, when in all reality, you only need about a million, is one of the reasons this is happening. truelly selfish people. I’m glad I’m not in the stocks. I agree with letting the rich suffer for once.

  2. Article 1, section 7 of the U.S. Constitution assigns responsibility for originating Bills for raising revenue to the House of Representatives.
    Authorizing 700 billion of taxpayer monies to, reportedly, purchase bad investments with the anticipated hope of a return on those investment in the future at first glance seems laudable. Failing to have previously assured sufficient votes to pass the Bill at the time it was brought to the House floor, however, represents the height of managerial incompetence by the House majority leadership. The only feasible option left to concerned tax payers is to throw the bums out at the earliest opportunity, which is the upcoming election this November.

  3. For those that don’t think they will be affected by this – think again. Get mad all they want with their party of choice and CEOs. It won’t solve the problem. They can get mad about the fire all they want – but they DO have to put it out. Why?

    Credit is an instrument to bridge the lag between business revenues and expenses. Without that, expenses – including PAYROLL – do not get met.

    Jobs losses accelerate, consumers stop buying, many lose their homes and savings. These are innocent people put in this position by the bad guys. But they do not deserve to perish in the fire that the bad guys lit.

    Think about it.

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