The bailout plan didn't make it through Congress. I am unsure how I feel about this, disappointed, nervous, or excited that we avoided another rush decision -- anyone see John Stewart's comparison of the Bush's support for the Bailout package to Bush's argument to invade Iraq? Scary....
Nonetheless, the reactions are dramatic, and the consequences unknown. Below is a link to an article I was forwarded by someone who works for Bank of America and forwarded the article by their higher ups. The article, a letter from John Mauldin to his Congressman in Texas, is attempting to persuade a congressman who likely did not vote for the bill. It gives the best economic support I have seen thus far for the bill and might have persuaded me.
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2 comments:
thanks for posting that letter. it was pretty convincing, though i, of course, am no expert here.
forgot to note, and this is something i've read elsewhere, about the "$700 billion" being spent - taxpayers will not literally be out of pocket 700b forever. some will be returned on the AIG deal as well as this plan.
who knows more about this than i do (i.e. most or all of you) and would like to further comment on this?
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