Um. Okay. No bailout for now.
Sep. 29th, 2008 04:39 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
So, the House Republicans -- as well as a pretty good number of House Democrats -- have rejected the bailout plan.
I have absolutely no idea if this is a good thing or a bad thing. None whatsoever.
In general, though, if this means that they have to go back and put together a new plan that actually has THOUGHT behind it, one that they can EXPLAIN to people, I suspect that would be a good thing. I was uncomfortable with the "AAAGHHH! PASS THIS BILL NOW SKY FALLING EMERGENCY DANGER WILL ROBINSON GIVE US MONEY THIS SECOND" thing.
I could very well be wrong. Maybe I ought to be buying a shotgun and rifle and stocking up on canned goods -- I have no idea.
. . . I kinda want a .22 bolt action rifle, anyway . . .
I have absolutely no idea if this is a good thing or a bad thing. None whatsoever.
In general, though, if this means that they have to go back and put together a new plan that actually has THOUGHT behind it, one that they can EXPLAIN to people, I suspect that would be a good thing. I was uncomfortable with the "AAAGHHH! PASS THIS BILL NOW SKY FALLING EMERGENCY DANGER WILL ROBINSON GIVE US MONEY THIS SECOND" thing.
I could very well be wrong. Maybe I ought to be buying a shotgun and rifle and stocking up on canned goods -- I have no idea.
. . . I kinda want a .22 bolt action rifle, anyway . . .
(no subject)
Date: 2008-09-29 10:38 pm (UTC)(no subject)
Date: 2008-09-29 11:07 pm (UTC)Many people, in a particular sector (housing) bought things they couldn't afford, on credit, with loans from big financial institutions. Those financial institutions are involved in many different aspects of the economy. So many people are forfeiting their debts simultaneously, that it affects the income stream of the big financial institutions, such that they can't function, and that has a huge ripple effect.
What irks me most is that the proverbial bill is not coming due for the people who couldn't afford their lifestyle -- though they are the primary cause of the problem. Mostly they've just had to move into an apartment, or a smaller house, abandoning the house they never put any real money into anyway.
(no subject)
Date: 2008-09-29 11:49 pm (UTC)(no subject)
Date: 2008-09-29 11:51 pm (UTC)