I don’t think it is that bad, it just forces both parties to come up with better legislation. I’m still weary about the bailout. I think it should be done in monthly increments of 50 Billion, and if we can fix it in one month or two months, good. I don’t agree with guaranteeing the whole amount.
What I found ironic about the failed vote was the Republican leadership was claiming they had the support, yet party members voted against their own leadership and president.
Talk about radioactive!
FAUX News is of course blaming Pelosi (for speaking the truth);
Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source. House Minority Whip Roy Blunt said he thinks Republicans could have provided a dozen more votes had Pelosi not given her speech.
Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the “failed economic policies” of the last eight years.
“When was the last time someone asked you for $700 billion?” she asked. “It is a number that is staggering, but tells us only the costs of the Bush administration’s failed economic policies — policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system.”
I’m not sure that any form of bailout will work long term. This is just more of the same crap that got us here in the first place. This spend with debt mentality, and the very act of printing money to pay debt is ironic at best. Let these Wall Street giants go belly up. America will recover. We’ll all be skinnier, but we might be more resistant to government interaction where our economy is concerned. Personally, I’d rather have my $10,000 share deposited into my bank account. Maybe then I wouldn’t have to default on my mortgage to feed my babies.
I agree.