So, instead of helping the entire country wrest itself from a possible depression, congress decided that it would be an awesome idea to whore themselves out for votes. The 700 billion dollar plan that would work got voted no, mostly thanks to the Republican side, which voted two third against, while two thirds of the Democrat side voted for the bill.
Why did they vote it down? They said that it doesn't help the average American. Well, the odd fact is that if this buy out does not go through, the country is like facing a second depression, so I don't think stopping the bill really helps anyway. Also, this isn't quite a "buy out," it's more of a "buy in" to the market as a whole, which means that this money could actually grow and be taken back by the government and spend on something directly helping Americans. Thanks for reading that memo, jackasses, instead of helping your people, you're just appealing to them for more votes, so you can pad your retirement package by staying in office a little longer.
So, once again, American congress drops the ball. In fact, they did worse than that, they just gave the entire world the collective middle finger. The way I see it, all those Republicans who voted it down wee thinking something like this:
"Hey, we know you're screwed too, but we're going to sit on our asses and futz around trying to keep ours seats in office, because we're power hungry and can't go on withot having enough capital to fund our third home in the Bahamas."
Oh, and if the American market goes down, then the whole world is screwed. Thanks Republicans!
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Dude, the 700 bailout plan sucks. Sure, congress voted it down. for the wrong reasons, but it still the right thing to do. Some one just pulled that number out of his ass so that the government would appear to be doing something. It wasn't well considered, it was a panic move, and it wouldn't have worked. Besides, the markets are fixing themselves already.
Noob.
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