And The Nays Have It!
In a 228 to 205 vote, the U.S. House of Representatives defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.
So just last week we thought we had ourselves a bailout. Then the wheels feel off the wagon. Over the weekend we again heard murmurs out of Washington that we came to an agreement. Now, I am watching CNBC and the market is down almost 700 points, Crude is down 10%, and the Democrats and Republicans are having a pissing contest over the vote on the bailout failed to pass!
Fallout?
- We are expected to have the largest single day drop in history.
- The world is laughing their asses off at the U.S.
- We can’t get out of our own way.
- The ripple effect has begun across all financial markets
Are we headed for a collapse? Have we already collapsed?
Similar Posts:
- Is Cheney Worth a War Crimes Charge?
- UAW’s Gettelfinger Working Better Deal With Treasury?
- Auto Bailout in Jepardy, Republicans Poised to Ruin America
- Republicans Have President Envy!
- Are We Letting JP Morgan & BOA Get Too Big?
- Jim Cramer Still Mad about Money
- Is GE Wagging the Dog with CNBC’s Bartiromo and Burnett?
- This President Has Zero Credibility..Is it November Yet?
- OPEC to Meet in November…Bastards!
- Treasury Can’t Track Bailout Funds…Friggin’ Great!
{ 0 comments… add one now }