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[personal profile] 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.

Date: 2008-09-30 12:04 am (UTC)
From: [identity profile] bellebonnesage.livejournal.com
According to Barney Frank, Republicans didn't support it because of their unshakable faith in the free market. It's nice to have them act for some other reason than "irritate Democrats" for once.

Date: 2008-09-30 12:21 am (UTC)
From: [identity profile] merchimerch.livejournal.com
Well, it will be interesting to see how the great equalizer free market sorts all of this out.

I have been socialist-leaning for years, but I admit that it does seem unfair to have a free market for profits and then socialism for debt and short selling.

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