US law to rescue markets voted down

[rhythmaning]

Just heard this on BBC radio news...

Not sure what to make of it, but the US markets are down 4%. So that'll be my pension fund down again tomorrow!

Comments

[psychochicken.livejournal.com]

I am surprised! But does sniggering slightly make me a bad person?

(I know, I know, it's bad for everyone, but still... snigger)

[rhythmaning.livejournal.com]

Not necessarily bad for everyone: at some point, the market will become cheap, and we could all profit from buying...

Unfortunately, we won't know until it is too late!

And I think sniggering is in order, myself.

[lizziebelle.livejournal.com]

I think this is a temporary setback, and I think it's a good thing that the government isn't putting us $700 billion in debt for the benefit of greedy stockbrokers. I was so wary of the "we have to do this *now*!" mentality that I usually associate with used car salesmen. Hopefully cooler heads will prevail.

[rhythmaning.livejournal.com]

The original proposals - $700bn, no questions asked - definitely seemed over the top, but the messages we were receiving on this side of the Atlantic were that the different sides had closed the gap between them over the weekend, and I think many people will be surprised by this over here.

It did surprise me that there was no oversight of such huge sums - I am not sure Hank Paulson has much of a political touch.

The news report I heard had someone - a Republican, I would guess - blaming the Democrats: so it'll be interesting to see if this affects the Presidential election.

[lizziebelle.livejournal.com]

I sure hope it does - McCain has been all gung-ho over deregulation, which is what got us into this mess to begin with. It seems that we're doomed to keep repeating our mistakes.