Power And Dollar

Did You Want A Rejection?

The bailout plan got voted down: 205 vs 228.  The House still cannot get a full house for such an important vote.  Someone please check if those 2 seats are vacant.  Are you upset that it got rejected?  Some people are upset (S&P has fallen >6% already), some not.  NYSE is certainly down.  Is there any good out of this rejection?

 

Some economists and financial guru may say why this bill would not work anyway.  Some people (say Bush, Paulson, to name a few) may also say why we must pass this legislation (not that this bill will work.  Interesting, huh?). 

 

At least democracy works.  Main Street is not too happy about this bailout.  The Representatives listened and voted accordingly (if not for their re-election is in a few weeks).  

 

Yes democracy is slow.  Democracy could be an emotional device as well.  This vote is more of an emotional vote rather than a vote of competing proposals.  This is the kind of occasion that time is of essence and some may argue democratic mechanisms are just road blocks.  

 

This same emotional body delivered an emotional vote last time to appropriate a budget for PATRIOT Act and Iraq war.  This emotional body again delivered an emotional vote, this time to reject another big budget item, although this item is again in a time crisis for the good of the people.  Is it a simple distrust of Bush or is democracy actually at work?

 

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September 29, 2008 - Posted by | banking, Barack Obama, business, Current Events, Democrats, election, Election 2008, John McCain, mccain, obama, politics, Republican, Sarah Palin, wordpress-political-blogs

3 Comments »

  1. catch Pelosi’s closing comments
    http://time-blog.com/real_clear_politics/2008/09/gop_pelosi_killed_bill_with_pa.html

    Comment by in2thefray | September 29, 2008 | Reply

  2. i cannot read her text from the link provided. do you have the text somewhere?

    thanks

    Comment by royho | September 29, 2008 | Reply

  3. I usually don’t write about politics, but you might consider looking at another angle as well. I’ve been writing about it at http://www.wisewomaninwoods.blog.ca and am in the process of moving to http://www.astromoon.wordpress.com. Check out what astrology has to say about each of the candidates as the Moon affects them every other day!

    Comment by sherrieh | September 30, 2008 | Reply


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