WASHINGTON — In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.
Reading the NYTimes item that was just released, one wonders where the (publically traded) newspaper stands on the rejected bailout plan... Geez, could they bury the reasons for rejecting the plan any deeper in the story. They've got like a hundred people voicing up on reasons to accept the plan right up front in the article. The phrasing is so condescending too.
I admit, I have no idea how all of this will affect world markets nor what the indirect effects will be, however I fully support rejection of the plan. Maybe I'm more republican than I thought but it is not MY job (as the taxpayer) to bailout all the rich mo-fos who got us into this mess. We've been anticipating a crash like this for years. Years. This is not a surprise. So the plan should have been in the works long before last week.
There's a reason I don't believe in "playing" the stock market. Most of it is based on a false pretense. Nothing in life is free. Period.
Now, let me get back to clipping coupons...
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