Friday, October 3, 2008

The $700 Billion bailout passes the house


This morning the $700 billion dollar rescue plan to bailout the Bush administration's sinking economy passed the House of Representative by a vote of 263-171. Within 20 minutes President Bush signed the bill into law before anyone changed their minds.

Those who backed the bill tell us the bill may make the American taxpayers money over the long run. Only time will tell.

The stock market, which was up some 300 pts. before the bill passed, closed at -160 pts., a swing of over 450 pts.

No comments: