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$700Bn US rescue plan rejected!
Posted: 29 Sep 2008, 21:32
by grim_tales
From CNN.com:
Bailout bill fails; Dow plunges
The House of Representatives today rejected a $700 billion plan to bail out the U.S. financial system. The Dow was down more than 500 points after the voting ended. House Minority Leader John Boehner says the chamber will not vote again today, and President Bush vowed to "address this economic situation head on." developing story
Didnt see this coming!
Now what? Both Democrats and Republicans seemed to back the plan didnt they?
http://money.cnn.com/2008/09/29/news/ec ... tm?cnn=yes
Posted: 29 Sep 2008, 21:36
by Yi-Long
Hey... cheap importing from amazon.com!
I'm just glad that we're having this crisis now that Bush is still in charge, and he has to take the blame... instead of the crisis being postponed until 2009 and all the dumb idiots in the USA blaming the 'new administration'.
Bin Laden is probably beaming with joy. The USA is destroying itself.
Posted: 29 Sep 2008, 21:58
by grim_tales
Yeah but McCain/Obama will have to steer Americans through it as well, I know what you mean though. All this crap is happening because of Bush, well while he is in power anyway.
Posted: 29 Sep 2008, 22:10
by Yi-Long
Yeah, and it's better that the general public realises that this is because of Bush's politics, instead of them blaming Obama or the democrats in 4 years time.
Posted: 30 Sep 2008, 01:25
by Markgway
The Republican core thought that the rescue package was akin to Socialism.
Back to square one.
Posted: 30 Sep 2008, 01:33
by Yi-Long
The republican core wants to get re-elected soon, and that wont happen with their voters if they OK this plan, no matter if it's the right thing to do or not.
Maybe they should of thought about rejecting all the money-wasting for those wars the last few years.
Posted: 30 Sep 2008, 09:33
by grim_tales
Good point Yi.
I heard BUsh is trying to revive the plan though and there may be another vote.