House Passes Wall Street Perp Bailout Bill 262 - 171 and gets Immediate Bush Signature
Well, the House caved to the financial system's perpetrators of this debacle and passed the terrible bailout bill 263-171, rewarding the Wall Street crooks that caused this catastrophe and ignoring the American people who must pay for Congress' egregious mistake. Obviously, Wall Street contributors to members of Congress' coffers were more important than constituent taxpayers who are now saddled with more debt while they continue to struggle to keep afloat.
For more information on why this is a huge blunder that will reverberate disastrously, plug in the word bailout on this site. Add the following links from the inimitable Cursor org. to round out the facts concerning this awful legislation.
"Following an intensive lobbying blitz replete with "promises and threats on both sides," a jittery Wall Street awaits the verdict from the House, and Paul Krugman holds his nose in support of the bill despite concerns that it may not buy the country the time it needs to really deal with the crisis.
"If a bailout fails to shore up Wall Street, Dean Baker has a suggestion about what responsible politicians could do, and in a new piece for Vanity Fair, Joseph Stiglitz outlines "a plan to reverse the Bush-era follies and regain America's economic sanity."
"As talk of a depression spikes, the national d
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