[IWE] First try at bailout fails in Congress

[Jack Troughton]

Not to put too fine a point on it, but this is fundamentally the last
ten years of living on credit coming home to roost.

On Mon, Sep 29, 2008 at 5:27 PM,  <bepatient@cfl.rr.com> wrote:
> Thank Pelosi for that. Threw everyone under the bus with her pre-vote speech.
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> ---- 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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