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House defeats $700B financial industry bailout

post #1 of 8
Thread Starter 
WASHINGTON - The House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive into recession without it. Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.

http://news.yahoo.com/s/ap/financial...B.NwNmBaas0NUE

A big part of me is going HA! How do you like them apples Wall Street who didn't care the rest of us couldn't afford homes and gas! And another part of me is going I can't even get the Dept. Of Education to forgive my student loans which, btw, are a LOT less $700 billion and it is also required by law. Why should a bunch of fat cats get bailed out when nobody else does?
post #2 of 8

Re: House defeats $700B financial industry bailout

Kev and I watched it as it happened. Kev has $$ in the futures market and it was jumping all over.
post #3 of 8

Re: House defeats $700B financial industry bailout

I'm happy because I don't think our country would be any better another 700 billion dollars in the whole. But also part of me is just wondering where the country goes next.
post #4 of 8

Re: House defeats $700B financial industry bailout

Quote:
Originally Posted by Wendy View Post
I'm happy because I don't think our country would be any better another 700 billion dollars in the whole. But also part of me is just wondering where the country goes next.
I feel the exact same way!
post #5 of 8

Re: House defeats $700B financial industry bailout

One word, recession.
post #6 of 8

Re: House defeats $700B financial industry bailout

Personally, I think we are already in a recession, even tho the "experts" claim we're not.
post #7 of 8
Thread Starter 

Re: House defeats $700B financial industry bailout

Heck, we've been steamrolling towards depression for awhile now.
post #8 of 8

Re: House defeats $700B financial industry bailout

Canada is not in a recession right now, but we are getting close.
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