Bailout Bull Is Battered
205 yeas, 228 nays. One third Dems opposed, two thirds Repubs.
Absolutely splendid. Now the world will end, or we will be in the deepest depression since men lived in caves... Or not.
If we're not in soup lines by tomorrow, at the very least I expect the resignation of Secretary Paulson, and I think it would be good form for many conservative pundits and most radio talk show hosts to jump off a building.
Stocks down. Biggy. They'll be up again in an hour. And crude below a hundred. That I like.
If I'm wrong and the crash becomes permanent...? Whoops.
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Exact final tally:
207-226, with Democrats supporting 141-94, Republicans opposing 66-132.
My own judgment is that this defeat is good judgment, in that I don't for a moment believe that a bad bill done today is better than a good bill done in two weeks. And I am critical of those who say "My heart is against it but my head is for it." I don't think their head is working at all, I think they're merely creatures of panic and mob thought. You don't maintain a free and prosperous country by surrendering to the despotism of Barney Frank. This was a package put together by the very people who caused the problem. Unless there is honesty in debate, and proper cause and blame is assessed, then there can be no proper address to the cause; it in effect will just be more of the same.
The process has to start over. There has to be a true fight, there has to be a recognition of tough times, and there has to be judgment supported by courage. "Pass this or we'll all die" is an argument immensely offensive.
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3:35 PM
From President Bush, exact quote:
Well, maybe not quite an exact quote.
Absolutely splendid. Now the world will end, or we will be in the deepest depression since men lived in caves... Or not.
If we're not in soup lines by tomorrow, at the very least I expect the resignation of Secretary Paulson, and I think it would be good form for many conservative pundits and most radio talk show hosts to jump off a building.
Stocks down. Biggy. They'll be up again in an hour. And crude below a hundred. That I like.
If I'm wrong and the crash becomes permanent...? Whoops.
-------------------
Exact final tally:
207-226, with Democrats supporting 141-94, Republicans opposing 66-132.
My own judgment is that this defeat is good judgment, in that I don't for a moment believe that a bad bill done today is better than a good bill done in two weeks. And I am critical of those who say "My heart is against it but my head is for it." I don't think their head is working at all, I think they're merely creatures of panic and mob thought. You don't maintain a free and prosperous country by surrendering to the despotism of Barney Frank. This was a package put together by the very people who caused the problem. Unless there is honesty in debate, and proper cause and blame is assessed, then there can be no proper address to the cause; it in effect will just be more of the same.
The process has to start over. There has to be a true fight, there has to be a recognition of tough times, and there has to be judgment supported by courage. "Pass this or we'll all die" is an argument immensely offensive.
---------------
3:35 PM
From President Bush, exact quote:
"We've put forth a plan that was bad because we've got a bad problem."
Well, maybe not quite an exact quote.
posted by mouse at 11:35 AM
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