Bailout Fails
A few minutes ago, Ezra Klein of The American Prospect reported, “The bailout bill just failed in the House. 133 Republicans voted against, as did 94 Democrats. Dow has dropped 600 points and is basically in freefall. This does not look good.” UPDATE: Dow has dropped 800 points. So far no major news outlets reporting failure. No definitive list yet as to who 133 and 94 are.
Tags: bailout
September 29th, 2008 at 11:41 am
Roll Call here http://clerk.house.gov/evs/2008/roll674.xml
NYTimes reports new vote soon. http://www.nytimes.com/2008/09/30/business/30bailout.html?hp
September 29th, 2008 at 11:50 am
Plus, here is a great piece from Joseph Stigliz (Nobel Prize in Economics, ‘01) in the Nation Magazine. http://www.thenation.com/doc/20081013/stiglitz
Best quote, “The administration is once again holding a gun at our head, saying, “My way or the highway.” We have been bamboozled before by this tactic. We should not let it happen to us again. There are alternatives.”
September 29th, 2008 at 3:53 pm
In the world wide web this is considered an oldie already (from last Friday) but it’s a goody and deserves a repost here in light of today’s events. Which is generally the case with Barbara Ehrenreich.
http://www.alternet.org/workplace/100396/_how_positive_thinking_wrecked_the_economy_/
September 29th, 2008 at 4:58 pm
MSNBC’s David Gregory just said “FAILout” and then corrected himself, “uh, Bailout, rather.”
September 29th, 2008 at 5:01 pm
Oh and here is the Nation’s Peter Rothberg on activism and the economic crisis- http://www.thenation.com/blogs/actnow/365990/bailout_stalled_activism_surging
Plus an announcement that “This Wednesday, Oct 1st, Jobs with Justice is calling for a national day of action against the bailout. Look for the closest office of your Congressperson or Senator. Organize your family, friends, group, whomever to do a picket, hand out literature, flood the office with phone calls–whatever. The imperative is to act now. For more information, go to bailoutmainstreet.com”
However the link to the action calendar isn’t working at the moment, so try here- http://truemajority.wiredforchange.com/event/distributedEventCalendar.jsp
September 30th, 2008 at 6:20 am
Of course it doesn’t look good. But the previous post on this blog glibly criticized the very efforts that failed. It is single-mindedness that is defeating this effort. Everyone either wants perfect or to use this historical moment to point a finger.
When we’re all in the breadline will we still point fingers and motivate mass attacks on former Wall Street individuals? I’m serious. You play with fire to be criticizing this bailout.