Recent Blogs
Blog Archive
Blog Archive
Monday, September 29th, 2008
Bailout Fails
Oh boy. Didn't see this one coming. Even lots of Democrats against it.
What an interesting time this is to be alive. I wasn't all that thrilled about the plan, but never heard a better alternative....
Bailout Fails
Oh boy. Didn't see this one coming. Even lots of Democrats against it.
What an interesting time this is to be alive. I wasn't all that thrilled about the plan, but never heard a better alternative....
But until then, the Dow has decided to demonstrate that gravity is always on...
What's exciting for me is I have Wachovia. I'm a little concerned. the greater portion of my student loans are thru citibank and citigroup just bought wachovia. they own me now. what's interesting is, wasn't citigroup one of the ones they talked about going under just months ago? how does that work - an almost bankrupt institution buys out a bankrupt one? seems like an awful idea to me.
Yes, Citi was in a lot of trouble... not sure how that works out either- maybe Citi has all its hopes on some form of bailout coming their way (or, by making themselves bigger, maybe they become a bigger target for getting govt help)
Also, since Republicans are the minority in Congress, some Dems voted against the bill as well...94 I believe?
Things are not looking good for the near future.
I don't think it's possible to compare the great depression to what is happening here; the world is far too different now. I'd say the "New Depression". I'll give it 3 years to get back up - in the meantime, I'm going to leave big life changes for when the economy's not crapping all over itself.
http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=Play...