if possible, we’re worst off than when we started
last tuesday a treasury spokeswoman said of the $700 billion price tag: “It’s not based on any particular data point, we just wanted to choose a really large number.”
i guess they haven’t done their homework to figure out how to sufficiently explain the details of the ask because the house of representatives rejected the bailout package in a 228-205 vote. surprise, surprise, the republicans don’t seem too keen on the idea. republican house members voted against the bail out by more than 2 to 1. bush was none too happy and said that he’s going to go back to meet with his economic team and contact some congressional members (read kick some republican ass).
not only was the attempt at a bail out unsuccessful, it resulted in more than a 770 point drop in the dow jones today. that’s 1.2 trillion dollars in market value…$1,200,000,000,000 dollars.
eventually, a bill for some amount, for some purpose will be passed. but will it be enough? when will the madness end?
photo by hallie_m.
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