Bail out bill passes in the house
The house has passed the senate version of the bail out bill today - 263 yea to 171 nay, a 700 billion dollar financial rescue package for wall street. This is going to be very interesting to see what this does to the overnight libor rate, and this might just unfreeze the credit market.
How this will work out for people, tax payers, and everyone who has voiced their discontent over the bill. The motley fool poll indicated that 52% of the people who took the poll said that this should not happen.
In the mean time the bill has passed, and something tells me that there is going to be a lot more coming from this one than meets the eye. One can not help but wondering if this is the turning point, or a turning point in how the USA does things, who we are, and what has fundamentally changed in how we do business. Or will all this blow over in the next five years, and become something we vaguely remember like 1987, or 2000/2001.
Tags: bill passes, house, bail out bill passes, senate, voting done
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