I am shocked. HR 3997, the Emergency Economic Stabilization Act of 2008, has failed. I was at home with my sick daughter today and watched the events unfold in real time. I watched as 228 brave members of Congress voted against President Bush, Henry Paulson, Nancy Pelosi (D-CA) and the rest of the Congressional leadership. They voted against the calls from the media pundits and Wall Street advocates. They voted against the fear that was being brought against them.
And the Dow Jones plunged 777 points. The Nasdaq dropped over 9%. Tomorrow could get ugly.
There's a lot more drama to unfold here. But, despite the reactions or over-reactions we'll see from the markets, they voted for the taxpayers today. I applaud them.
3 comments:
The legislature made the right call. Hopefully the results won't be dire, but I still think they voted in the best interests of the people.
(eek)
BTW...more distractions?
Sorry for the triple-comment. Anyway, it's good to note things like this. Militarism has outstripped greed, IMHO, as the chief culprit of today's market turmoil.
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