Wednesday, October 1, 2008

Something I read today...from the New York Times

Yesterday the $700 trillion bailout plan what to be voted on in congress. Despite major endorsements from the President and major party leaders, the plan suprisingly did not pass. The writers of the plan pushed it through quickly - needing quick results. But the experts and many of the Congressmen weren't confident in the plans future success. The main reason for the rejection of the bill was that many of the House and Senate members recieved tons of calls from their states, telling them to let Wall street fail. Then just 15 minuets after they voted to reject the bill, the stock market took it's biggest plung in two decades. The Dow Jones lost 7 % by the end of the day. Now today seeing the huge turmoil in the global economy, Sentaters are trying to come up with a new bill and quickly before the finanil crisis possibly trickles down to Main street consumers and we have our selves in a lot of trouble.

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