Despite President Bush’s requests and John McCain’s last-minute-cancel-the-debate-get-on-a-plane-save-the-world-speech, the bailout package was rejected yesterday (sending the stock market down 777 points).
Was it close? Not really. The vote was 228-205 after marathon talks from the Bush administration. Matter of fact, only 65 Republicans followed Bush and McCain and voted for it (so much for influence).
As they pour back to the drawing board today I expect the stock market to go up for awhile. Optimism always seems to follow these types of things. I think today is the Jewish New Year so don’t expect anything to happen for a couple days as the Congress and Senate pass this one back and forth like a hot potato.
In the end I think the hold on approval is a good move. No matter what happens we are in uncharted territory and need to make some careful decisions here (ie: not decisions made latenight over the weekend whilst full of Mountain Dew and Pizza Rolls).
Fine, I suppose this is where you look for some witty insights to my mind. A "bio" of sorts. Here is the deal... I ride motorcycles, smoke cigars, golf, kayak, fly, race my car through the mountains, write (a lot), and travel extensively. I am almost old enough not to care what other people think about me...almost. ~Godfadr
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