Don't Miss the "Mini" Bailout
Despite its gridlock on Monday, Congress did manage to prove $25 billion in loans to America auto-makers this weekend. This is the first such measure since the government helped Chrysler in 1980.
I just thought someone should mention it.
As for the $700 billion bill that failed to pass on Monday... I just don't know what to say right now.
I'm stunned that it failed to pass. That being said, I'm not 100% sure that its failure is a bad thing in the long run (of course, it obviously seems to be catastrophic for the short term well-being of the world's stock markets). Perhaps the delay will lead to a superior bill in the coming days...but I guess neither party is giving us reason to be optimistic about such an outcome.
1 comment:
I'm very glad that it didn't pass. It was a rush-job, and it was a bad idea.
I'm hoping (perhaps in vain) that cooler heads will prevail and a more measured and reasonable approach will be taken. I also think that this failure will force both parties to be more willing to compromise and to build on their common ground, which is almost always a good thing.
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