“KILL THE BAILOUT. It is a big lie. The Dems want Socialism.”
Why are you complaining that the Dems want Socialism when it is the Republican administration’s proposal to rescue mostly Republican big money boys? Seriously puzzled.
(1) Any legislation that is passed will be passed with the vote of the Democrat majority. The administration is far from being the only entity that has proposed such a bailout. Calls for this have come from both sides of the aisle.
(2) The primary beneficiaries of this bill will be (a) people who took on more mortgage than they could afford and (b) people who have their savings deposited in banks that gave mortgages to the people in group (a).
(3) The "big money boys" have now pretty much lost their fortunes and their jobs - including thousands of "big money boys" who had nothing to do with mortgage lending and plenty of people who are not as "big money" as some trolls imagine.
(4) Most prominent Wall Street executives are Democrats, not Republicans. Republicans tend to be CEOs "old economy" firms like Halliburton and not financial firms like Lehman.
But it is not a depression and we still have a strong market, even if it goes to 8300. In fact we will have the strongest one in the world because we will learn from our mistakes and hopefully throw some fatcats in jail, thus sending a message to future banking folk.