Any Signs of a Bailout? Or something?
Posted in Main Blog (All Posts) on October 1st, 2008 4:33 am by HL
Any Signs of a Bailout? Or something?
I have no idea what happened on Wall Street today. If part of the stock drop from yesterday was because there was no bailout deal then, what was the almost 500 point rise today about? There is no bailout deal. There is a lot of speculation there may be a deal in the works. The more I look at this bailout, the less I like it. The politics of it are all wrong. Fiscal conservatives feel that such an expenditure just is not warranted. There are some conservatives that believe the market needs to take care of the market. On the other side, because there is a significant number of Democrats who did not vote for this bill, Democrats are wondering why should we bailout Wall Street when they created this mess. Overall this is the specter of politics. All of the House members will be up for election in a little more than a month. You have a president who is clearly a lame duck. He has no clout with Democrats or Republicans. He went on TV this morning… did anyone know that he was going to be on TV this morning?
Maybe the Dems need to throw out the White House/Paulson bill and pass something that is progressive.