House Republicans yesterday stood up to President Bush and killed the Fat Cat Bailout, while Democrats capitulated (as usual) to the Bush agenda. The Dow Jones dropped a whopping 777 points, the largest drop in history, if you don't adjust the figures. The stock market crashed from a whopping 320 points in 1929, so, naturally, the figures aren't directly comparable.

I'd like to congratulate the Republicans in the House of Representatives for doing the right thing for America.

I just had to check to see if that thread title was actually posted by you, John.

tim

My account must have been hacked.

They unequivocally did the right thing, and if no one else will, I'll give them credit for it. The Republicans in the house killed a very bad deal that might have been passed under extreme duress (apocalyptic predictions that the world will end if Henry Paulson doesn't get a blank check for $700 billion with no oversight in how it's spent), and sent it back to the drawing board so a better deal can be crafted.

The Dow is up almost 400 points right now, to 10,700 - people reporting the single biggest drop in history yesterday are being intellectually dishonest by not adjusting to GDP. But then, hype and disaster get people to watch the news. I'd love to sit back and say "biggest drop in history - Republican's and GWB's fault," but it's just not true, or, at least, not that simple.

Its not just Bush that wants this to happen Nancy and her group wants it too, just a different way.

Originally Posted by Cheshire_cat

Its not just Bush that wants this to happen Nancy and her group wants it too, just a different way.

Right. Pelosy has been more than a little vocal about it. Like I said, the Democrats in Congress have been capitulating to King George ever since 2006 when they pledged to "drain the swamp" they set up shop in. And the House Republicans were the only ones left to do the right thing, in this instance. It's a very unusual turn of events, to be sure.

Originally Posted by Learning Newbie

The Dow is up almost 400 points right now, to 10,700 ...

and going, going .......