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Bailout: Declined | CFO Lounge

Bailout: Declined

Mon, Sep 29, 2008

Down to Business

No way, Jose. That’s what two-thirds of Republicans and 95 Democrats said by voting “nay” on today’s bailout proposal. The market overreacted by dropping almost 800 points - it seemed obvious to me that Congress would resume working on the bill even if it did fail.

The fact that Congress was nearly split (228 - 205) on the decision tells me that the proposal wasn’t what was best for America but what was best for Wall Street.

I’m positive that in a few days both sides will come to an even better solution for the American people that not only includes provisions for shoring up our financial fiasco but also gives the American taxpayer real teeth to properly regulate, monitor and manage Wall Street so we don’t end up in this f’d up mess all over again.

This post was written by:

Chad Cohen - who has written 51 posts on CFO Lounge.

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2 Comments For This Post

  1. Mike Says:

    Craziness. I feel like going on a stock buying spree tomorrow.

  2. Chad Cohen Says:

    The madness isn’t over yet….catch it on the upswing.

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