Monday, September 29, 2008
Thumbs Down on Rescue Legislation
Over the weekend congressional leaders and the White House had reported agreement on a plan involving a $700 bailout of Wall Street, proposed as a public need to keep the general economy afloat. I don't buy it, the people I've been speaking to who aren't bloggers don't buy it either, their general mood is one of anger about it, and 228 house members thought similarly enough that they turned down this initial draft of the bill. I feared that a bill where taxpayers reimburse the recent losses of the financial industry would be rubber stamped, which I am pleased has proven untrue. Naturally, this isn't over yet.