(no subject)

[merchimerch]

Oh wow - the bailout bill failed and the DOW is plunging.

Even more shocking, although the Democrats largely supported it and Republicans largely didn't, I was shocked that only 60% of Democrats voted for the bill. I don't think I understand the nuances of the bill, but it did seem as though there were more safeguards for taxpayers than I expected. Perhaps this is why the Republicans pulled support?

CNN says that there may be another vote soon, but wow, just wow.

Comments

[fallen42.livejournal.com]

Republicans don't support it because it flies in the face of their platform of fiscal conservatism and lazzie faire economy. That and the idea is pretty unpopular.

[merchimerch.livejournal.com]

Yes, but the "platform" of fiscal conservatism hasn't been a reality for Republicans since the Regan years (when my family disavowed the party).

The idea as it was originally proposed without oversight and a way for taxpayers to recoup the money given was pretty unpopular. I thought it was more acceptable once congress heeded the call for more regulation and oversight, but obviously I was wrong.

[fallen42.livejournal.com]

It wasn't even a reality *in* the Regan years, but there's an election going on and everyone is actually watching congress on this one.