House Rejects Paulson's Bail Out
Onto the Senate, not. Believe this or not, while Democrats have been the primary negotiators on this bill, other Democrats are sending out emails calling this Lipstick on Paulson's Pig, and is the fault of Republicans.
This time....I do not think so! Proof?
The vote tally was:
- Democrats Yea: 141
- Democrats Nay: 94
- Republican Yea: 64
- Republican Nay: 134
Total: Yea: 205 Nay: 228
A simple majority was needed, which was 218.
Clerk has bill title wrong but how Congress voted is here.
I really wish the distortions and lies would quit. It's bad enough corporate lobbyists are running this country but then to play misinformation games on what is going on in such a critical issue only confuses the public more.
Global financial markets are not exactly summed up in a sound byte. Americans, get over your blasting selves and start learning about the issues so you can make a clear judgment on what is going on! Get over your damn partisan marshmallow misinformation mission!
The bill was H.R. 3997 - Financial Markets Bill
Update: Stock Markets now doing a nose dive in reaction. Looks like a straight vertical drop.
Update2: What we need is a real plan developed from real economists who specialize in these topics. A few are listed here, here and here. What are they? Some version of HOLC, some sort of better pricing on buying toxic assets and modeling from what Sweden did on Nationalization. They must do something. Now public...now Populists who read this, demand they do something right.