Congress finally finds its balls
Sep. 29th, 2008 01:37 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
altivoThe House rejected the Bush administration's $700 billion bailout for greedy investment banks. Of course, the Dow immediately plunged over 500 750 points, but I say "tough cookies" to the foolish people who brought this all on, and especially to the "deregulation" exponents who have been destroying all the protections in our economic system for the last 35 years.
It is high time that we told them that taxpayers are not going to bail them out time and time again when their risky plans to rip even more ill gotten gains out of the public fail.
Story here.
Despite claims that the bailout was intended to protect the ability of the average citizen to borrow money, many Republican members of the House as well as Democrats dug in their heels and refused to support it.
Could it be that public opinion running 70% or more against this thing actually influenced their actions? A miracle, Congress listening to the voters rather than to the special interests and big campaign donors?
It is high time that we told them that taxpayers are not going to bail them out time and time again when their risky plans to rip even more ill gotten gains out of the public fail.
Story here.
Despite claims that the bailout was intended to protect the ability of the average citizen to borrow money, many Republican members of the House as well as Democrats dug in their heels and refused to support it.
Could it be that public opinion running 70% or more against this thing actually influenced their actions? A miracle, Congress listening to the voters rather than to the special interests and big campaign donors?
