They said they had a plan that would pass. They didn't. While many reasons are bandied about, from the intrusion of Presidential Politics, to Nancy Pelosi hurting the GOP's feelings, I think I have the answer. The bill is very unpopular, and lots of Congressmen and Senators are up for re-election. They think they'll get voted out if they support the bill. My theory, but here's another one. . .
[Excerpt]
Why the bailout bill went down
A sweeping rescue plan for US financial markets foundered in the US House Monday on a combination of doubts about the plan, reelection concerns, disdain for bailing out Wall Street bankers, and a deep philosophical distaste for massive government intervention in the private sector among conservatives.
The Dow Jones stock index plunged a record 777.68 points on the day a reaction that Democrats say could pave the way for a new vote, as early as Thursday. . .
The Dow Jones stock index plunged a record 777.68 points on the day a reaction that Democrats say could pave the way for a new vote, as early as Thursday. . .
Read more at: Christian Science Monitor
No comments:
Post a Comment
Have something to say to us? Post it here!