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House Passes Bailout Bill and Stocks Drop

The House of Representatives has passed H.R. 1424, the Emergency Economic Stabilization Act of 2008. And what’s happening as a result? Stocks are going down, about 150 points below where they were when the legislation was passed.

It must be all those wooden arrows that the legislation authorized, poking lots of little holes in the marble veneers up and down Wall Street.

Stocks will go up and stocks will go down. That’s what happened in the market before the bailout, and it’s what’s going to happen in the market after the bailout. The difference that’s been made now is that, along with the stock fluctuations, Wall Street firms are going to have 700 billion dollars more to play around with, and our nation itself is going to be 700 billion dollars further in debt.

1 comment to House Passes Bailout Bill and Stocks Drop

  • Elle

    The fall of Monday was a plant, a stunt pulled by wall street to try and scare america int ogiving in on the bail out.

    Know what, it worked. Not only that, but they got to stuff more pork down our throats to boot.

    A Double Victory!

    Line em all up against the wall and shoot em. I know, hanging would be cheaper, but what the hey, we can put it on some legislation as more pork!

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