The House choked on the bailout bill, with the holdouts being Republicans. The markets collectively choked with the Dow crashing 700 points before bobbing up to a 500 point downturn. And King George's appeal fell on deaf ears in the House, though it is expected to pass the Senate. The House leadership was scrambling for a second vote, but even if they succeed, a vote on the bailout bill in the Senate will be held up by the Jewish High Holy Days. And the problem was even more widespread as European banks scrambled to bailout banks that caught the contagion. So the question now remains is who will administer the necessary Heimlich maneuver to save the economy from choking on its own bile?
Monday, September 29, 2008
Oops! Bailout fall down go kaboom.
The House choked on the bailout bill, with the holdouts being Republicans. The markets collectively choked with the Dow crashing 700 points before bobbing up to a 500 point downturn. And King George's appeal fell on deaf ears in the House, though it is expected to pass the Senate. The House leadership was scrambling for a second vote, but even if they succeed, a vote on the bailout bill in the Senate will be held up by the Jewish High Holy Days. And the problem was even more widespread as European banks scrambled to bailout banks that caught the contagion. So the question now remains is who will administer the necessary Heimlich maneuver to save the economy from choking on its own bile?
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