Today, the Financial Bailout bill failed to pass… Good.
I don’t know what those in Congress were thinking when they drafted a 100+ page document, and forcing a vote within hours of its release. I wouldn’t buy a car without sleeping on the deal, and this bill is a hell of a lot more than a car… This is $700 BILLION!
I think people should have the time to read and digest this, and not be ram-rodded into voting for a bill just because a few at the top told them to.
I’m actually proud of those congressmen/women that voted against this bill. As one congressman said, this bill is a “crap sandwich”… You shouldn’t be forced to take a bite until you look around to see if there is anything else to eat.
… that the people that are put in charge of negotiating this new $700 billion Wall Street bailout, are exactly the people that goofed this up in the first place? Try to blame it on the republicans all you want, but John McCain and numerous others have been warning about the breakdown of Fannie Mae and Freddie Mac and its devastating effects on the economy for years now.
Many Democrats poo poo’ed all those warnings because poor people were now able to buy houses… Now guess what? We’re in a crisis that could lead to a major financial disaster.
But who do you think is in charge of “fixing” this problem in Congress… yep, the same people that turned a blind eye to begin with… Somehow Barney Frank and Charles Shumer. Who both ridiculed those warnings when they were before their committees.
Somehow that doesn’t really inspire me with confidence.
UPDATE: I found this video that illustrates what I’m talking about…
I’ve known about this plan for awhile, and I’ve listened to T. Boone for awhile. But I thought since I’ve started posting political stuff lately, this fit into the blog… I realize that the guy stands to make a ton of money if we go with it, and frankly, I’m ok with that… He’s the only one that has put his money where his mouth is, and is actually offering a plan. Until someone comes up with one better, then I’ll jump… but until then, this is the horse I’m putting my money on.
Much like the rest of the country, I’ve been talking politics… As one of the few openly conservative people in my office, I usually end up defending President Bush, and in turn John McCain and Sarah Palin.
Ok, let me first off say that I’m all for home ownership. Everyone should be able to buy a home and live a part of the American dream. But lets be honest, a few years ago, there were a ton of people buying homes that had absolutely NO business buying a home.
