[IWE] First try at bailout fails in Congress

[iwe@warhead.org.uk]

Thank Pelosi for that. Threw everyone under the bus with her pre-vote speech.




---- williamoxley@aim.com wrote: 
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>  I think we could freefall to an 8k dow before it turns up again
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> -----Original Message-----
> From: Jay Mehaffey <jaym667@yahoo.com>
> To: IWETHEY Mailing List <iwe@warhead.org.uk>
> Sent: Mon, 29 Sep 2008 2:36 pm
> Subject: [IWE] First try at bailout fails in Congress
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> http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes
> >The fate of the Bush administration's $700 billion financial bailout
> plan
> >was abruptly thrown in doubt Monday as a House vote turned
> >against
> the controversial measure.
> Lots of arm turning, but they still came up 13 votes short. The Dow Jones average
> dropped hard on the news. It's been down 200 or more all day, and is down 500
> right now.
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> What happens now is an open question. More negotiation, but what the
> result will be is hard to say. Significant groups of both Democrats and
> Republicans don't like the bill, but there are a lot of opinions on why.
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> Jay
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