House of Representative reject the bailout!!
September 30th, 2008So, the Dow Jones Industrial plunged 777 today!!!
Well, here is not Las Vegas, so no tokens for the “777″. XD
$700 billion is really a large number. Without this bailout, some financial institutions may have a hard time in the near future, and some investors may suffer losses. If the bailout is not rejected, whole citizens have to “share” the $700 billion debt.
As my opinion, the government and the whole citizens do not take the responsibility to “share” the risk of the financial institutions and investors. Let alone what these institutions and investors do are highly risky investments. So, why not let the money to be shuffled?
Besides, I also think that this rejection is very important to the two President candidates, Obama and McCain. Obama said he was inclined to support the bill that failed today, but McCain had the opposite standpoint to Obama. From the result of voting, it seems that McCain’s viewpoint has more supports.
However, the huge hole of US finance is still a problem.
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October 5th, 2008 at 2:10 am
[...] On Fri., the bailout plan was approved and Bush signed for it at about 2 p.m. But you can find the investors are not assured, and Dow Jone was not inspired by this news (Bailout Bill Fails to Reassure Investors). Is it not a good news? Well, if the approval of bailout is a bad news, what the hell of Dow Jone on Sep. 29th? [...]