Stock market down
...after Senate votes for bailout
This is just too rich. Remember how we were told that the market tanked 777 points the day after the House voted "no" on the bailout this week? And how they blamed (primarily) House Republicans for killing the deal...and erasing a trillion dollars worth of wealth... (More than the bailout would have cost us, we were told).
Well, the day after the Senate voted to approve an even more costly version of the bailout, the market has gone down 359 points.
So will we now hear that the Senate's action helped drive the market down? That the market went down because the bill was so overloaded woth pork??
Yeah, right.
The point is that you cannot and should not do this kind of legislation under the gun, let alone allowing your actions to be dictated by daily tick-tock of the emotion driven stock market.
- Drew McKissick's blog
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Wall Street Reaction
Let's see...the last time the House voted down the bailout the market went up by 485 points. So...if nothing happens tomorrow the market should go up ... let's see ... 250 points? Just a guess. Wall Street has no idea what they are doing. Congress has no idea what they are doing. God help us! Is the Messiah going to return as the next Treasury Secretary?
Steve McCullough
http://www.stevemc2.com
I can hear Nancy Pelosi and Maxine Waters now...
"Well.... If the Senate wouldn't have passed their version of the package the stock market would have been down even LOWER today! We need to pass this in the House, before Monday"!
Wouldn't surprise me if these words have already been said in paraphrase.