Republicans kept word and are (for now)not signing their soul away. If they would sign this bill, the damage would be a lot worse than it is right now.
Something to think about...
With no government intervention, banks who abused the trust of their customers and shareholders will go bankrupt. After a while when prices come down, the big guys will start seeing value and start bidding for the assets. It's the best way to overcome the banking disaster.
The good thing of the carnage is : at least gas is cheaper now...
Monday, September 29, 2008
Today I am proud to be an American
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2 comments:
So what about this Obama guy? I believe he was on Bush's side for this one (while a majority of Bush's party members wisely voted AGAINST)? Is there less brainpower in Obama than in Bush?
Obama, is more like a socialist. We all knew that. In normal cases I wouldn't prefer a socialist president BUT hey look at what our "free market" president Bush did the last 8 years? Even a socialist can't destroy a country as rapidly as he did.
Don't forget, MOST of the republicans that voted NO, Bush was the one who WANTED the bill to be signed. So they all(Obama, Bush, McSame) wanted this bill to be signed.
Politicians mostly have a 4 year short term view on things. That's what got us into this mess. They just want to be re-elected, who cares about the economy in 5 to 10years...
As you will see, the stockmarket drops 7% and people are complaining, and hence the senators will vote yes. The market will rally, in the short term, but the problem didn't go away. I was shifted to you and me. This would be the first time in history that a government has so much debt, intervenes in the market place by correcting prices of assets, and that it would work...
The 228 votes against the plan included 95 Democrats and 133 Republicans, a mix of conservatives, liberals and members in tough re-election fights.
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