9.29.2008

Bailout Plan defeated in Congress.

Bailout plan rejected:

"What was supposed to be a 15-minute vote stretched past the half-hour mark as leadership scrambled for support. Investors who had been counting on the rescue plan sent the Dow Jones industrial average down as much as 700 points while watching the measure come up short of the necessary support, before rebounding slightly. The key stock reading was down more than 500 points."

Sigh. I am so cornfused about all of this. I honestly don't know whether this bailout plan is a good idea or not, and I don't know who to believe anymore. And the stock market is so volatile right now, I wouldn't have been surprised if the bill passed and the Dow still dropped hundreds of points.

One thing I do know: I don't want those greedy bastards to get their golden parachutes anymore. If their company is going down in flames, they ought to burn, too.

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