Did you get a bailout plan?

Well, breaking news right now at 2:40pm EDT is that the bailout plan bombed. The House vote was “sharply divided”, according to the article.

What is even more surprising to me is to watch this video from YouTube: A Congressional hearing from late 2004 about Freddie Mac and Fannie Mae warning about potential financial fallout and cleanup. Democrat after Democrat keep stating that there is nothing wrong.

Fast forward now 4 years, everyone…. It’s going to be scary times, folks.


5 responses

  1. I can’t believe they actually had the ***** to vote it down!!! Gives me some renewed faith in the intelligence of your legislature. I heard a great interview with Tom Daschell (sp?) as he was going into the vote today (on Canadian am radio) – he is exceedingly well spoken, very knowledgeable, and the first thing he brought up is Why has no-one questioned the basic underlying principle of the bailout? The Bush administration just took it for granted if they said it was needed, and repeated the lie often enough, people woulds get caught up in the details, rather than if it was the best plan to put forward in the first place. He made several other very telling points, but I doubt you will see them on Fox CNN or any other US news media. Very unfortunate.

    NOW, let’s see a bail-out that actually goes to the individuals and families and small businesses who are in debt and losing their homes and livelyhoods because of excessively obscene leverage in the financial industry, allowed to happen under this administration while the perpetrators of said fraud walked away with hundreds of millions of $$ in compensation.

  2. No, I didn’t get a bailout plan yet. I did, however, have my home equity line of credit frozen because of the mortgage crisis.

    I just tagged you for a non-partisan “Don’t Vote” meme, which actually encourages people to register and vote. The accompanying video is very funny. See the post at my site. I hope you’ll consider posting it on your site to spread the word 🙂 – BookMama

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