Monday, September 29, 2008

What Next???

I was totally shocked and surprised when while driving in a rainstorm to pick up my daughter from school i got an alert on my phone that stated "House defeats $700B financial industry bailout". I personally am opposed to the bailout plan but I didn't think the politicians had the backbone to do what their constituents were demanding. I still think that what did it was the fact that it is an election year and they are afraid of the backlash come November. The question now is, what next? As I write this the stock market is taking a beating down 721. There is a definite need for something to be done, I just don't think that a "bailout" is the answer. Bailout has the connotation of not holding those responsible for this mess accountable, and that is something that we must do. So where does our president stand on all this? Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home. Not enough members were willing to take the political risk just five weeks before an election. More on this Story Here.

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