Thank god we have some sane representatives in Congress.
I have a lot of money invested in the stock market, but I have a lot more invested in mine and my children’s future.
See how the 228 voted against the bailout from the New York Times.
We’ve got a full-blown taxpayer revolt on Congress’ hands. There has been enormous amounts of scaremongering going on today with everything from ranting congresspersons to talking head reporters, and man-on-the-street info from traders on the NYSE floor.
The stock market took one on the chin, and could erode further if bailout proposals are blocked. My hope is that until some seriously different legislation gets proposed, I will personally oppose this on the SCREBC blog.
And, for today’s reflection, we’ve got to give kudos to Dr. Ron Paul for opposing the bailout:
ROFL at last 5 seconds…
Chuck, Thanks for the link earlier on contacting our state representatives…. which I did with full force. I did get the standard generic response but given the context of their reply… it sounds as if they had a lot of people opposing this proposed bailout…. Then to top it off, I heard a representative earlier on the radio show John & Ken (which I cannot remember the name) who supported the bailout and tried to define it as a win-win situation…. Indicating to the listeners that we would be buying the bad assets @ $0.30 on the dollar which made me wonder “what the hell is he talking about” when the value of these so called mortgage securites are probably worth much less than the amount they call “market value” on top of about 12-15% of the loans within the portfolio not performing our defaulting?? It’s truely amazing how these spin masters can turn a really ugly situation into something that is not….. wow
ding,
oops, it cut off my less than sign. “ding <10k”