Monday, September 29, 2008

It's a Big Ol' Goofy World

Sing along with John Prine (my words, John's tune)...you'll feel better. Up on the Hill They're tryin' to get a bill To help all the bankers Who've fallen really ill... The vote's been taken It didn't make it through Seems everyone's thinkin' Who's red and who's blue... We seem to understand The feds let us down And we can't throw our taxes Willy nilly 'round town... But the jar's tippin' over The well's run dry The answer isn't coming And we need to know why... Oooooo baby, it's a big ol' goofy world! The who-can-comprehend-this-much-money $700-billion bailout bill lost by 25 points this afternoon in it's first time out in the House of Representatives. The stock market fell a record 7oo+ points, the biggest one-day point drop ever. There will be no more action on The Hill for a few days...congressfolk have recessed for Rosh Hashanah. The news pundits are telling us "the people have spoken" .... apparently we collectively swamped the phone lines and filled the email inboxes in our elected representatives' offices with our insistences that lawmakers show us the money before they spend it. Coming up with $700-billion in an account overdrawn $9.5 trillion seems like pretty easy math. We've lost our trusting natures with these people. Imagine that. The vote went down Blue and Red lines like this...if this interests you: For the measure - 69% were democrats, 31% were republicans Against the measure - 58% were republicans, 42% were democrats http://www.nytimes.com/ref/washington/ROLLCALL.html?currentChamber=house&currentSession=2&currentCongress=110&currentRoll=674 Really...who would want to be President of the United States now? In my neighborhood, John Carter, a republican, voted against the bill. Lloyd Doggett, who represents much of the rest of my town (and my interests) also voted against the bill. I find myself wanting to comb congressional records to uncover the last time Lloyd Doggett and John Carter voted the same way on a piece of legislation... this seems like a "wow" moment. Take a look at Lloyd Doggett last week as he questioned Ben Bernanke at the joint economic committee hearing on the bailout plan: http://revolutionarypolitics.com/?p=167 Today Doggett said, "now is not the time to call on people across the country to bail out Wall Street." He said the proposal was "fueled by fear and hinged on haste" like the Iraq war. Send Lloyd Doggett a thank you note for speaking about this in our language. And if you know a trader on the NYSE, flowers and a bottle of scotch would be appropriate. It's been a bad day. Peace.

1 comment:

Jo Ann Strickland said...

I think I'll need a swig of that scotch too before opening my next "retirement fund" statement.....