Monday, September 29, 2008

Bailout defeated - Stocks plunges

I don't understand the stupidity of some Republicans not passing this bill.

Even though John McCain and Pres. Bush were for this bailout, some still doesn't understand the problem that a market that won't lend money poses to everybody.
"Representative Darrell Issa, a Republican, said he was “resolute” in his opposition to the measure because it would betray party principles and amount to “a coffin on top of Ronald Reagan’s coffin.”

What does that mean? What ideology avoids a Senator not to do what is best for the country? Oh well, I don't think Ronnie was that of a moron.

Today, it wasn't the time to point fingers or stick to principles, it was the time to act.

So what's gonna happen next? The FED will step in supplying more money creating inflation and weakening the dollar, and there is the possibility that people and business are not gonna put that cash into banks due to lack of confidence.

This economical hardship will definitely take a toll on McCain's campaign since people will see it as a Republican mess.

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