Now we see just how good these yo-yos are. The Bill has passed the House and now it goes to the Pres for his signature. THe vote was 263 aye and 171 nay. Now let us see just how the taxpayer profits from this. Parts of it will create jobs, so they say….I say we will see.
If you are for the bill, then good luck…If you were against it. then we will be able to say “told you so”. Which I love saying. Wall Street is jerking off…Main Street is still split….Washington did everything they could to help Wall Street. If you like pork, then this bill is for you. I still want to know which of the guys tacked on 192 million for rum producers and 160 million for auto racing and wool research and those darn wooden arrows for kids.
There will also be a hearing to find out what happened, chaired by Waxman. Does not say much for the committees in the Congress that oversee the economy. Apparently they did not care or they were making lots of cash, Time to change the chairs of these committees.
Personally, I think this was a mistake, but I will reserve condemnation until later.
The bailout is a HUGE mistake!!! This financial crisis stems from Washington, not Wall Street. The psyuedo-governmental agencies of Fannie Mae and Freddie Mac were pushing to expand “fair housing” (as if housing were a “right” – it is not) by forcing lending institutions to provide loan subprime loans to folks whom would not otherwise qualify…CRA, 1995 Clinton push, Obama taking $126k form lobbyists therein, …the story goes on and on. Sure, predatory lending adjoined irresponsibility on behalf of eager consumers, but the government lies at the epicenter of this disaster. And now we are talking about passing a measure given government more power over our money than ever before? So what’s the first thing government does? They tack on goodies, essentially earmarks (though they seem to prefer “extensions” instead) to bloat an already huge bill! Unbelievable! Paulson should be A) not trusted, and B) canned.
See my site for more.
hi politixican–sounds like business as usual in Washington. I will check out the site…thanx for the visit.