I was surprised indeed that the U.S. House did not pass the bailout. I read today that after that happened, $1.2 trillion evaporated from the stock market. Personally, I can't make sense of it. The stock marketers don't get $700 billion of worthlessly inflating greenbacks, and $1.2 trillion disappears?
The House may eventually pass the bailout, but they'll pay for it come election time. What a juicy time for this crisis to happen. Apparently, American taxpayers are announcing their objections to raking us and our descendants over the coals. I feel like such a Republican being against the bailout!
I read that the bailout would enable banks to loan money again, for things like mortgages, business loans, student loans, etc. I honestly don't see the benefit in this. It seems like slowing down the pace of rapid-fire loans would be a good idea. I don't know who in this economy survives on credit, but it isn't me.