NO BAILOUT!

NVDL: I believe if George Bush reckons the bailout is a good idea it probably isn't. Prior to the bailout being booed by congress, I suggested on this blog that $700 would be better spent on retrofitting US suburbia, by re-developing their railway systems (than to pour it into the bottomless pit of toxic mortgage debt). It may not be pretty but it may make better sense to allow the markets to 'suck it up'. Tomorrow, we'll probably see the Blackest Tuesday in Stock Market history. Brace yourself.

The stock plunge began even before the 228-205 vote to reject the bill was officially announced on the House floor. The decline for the day surpassed the 721-point previous record, on the day after the Sept. 11, 2001, terror attacks, though in percentage terms it was well short of the drops on Black Monday of October 1987 and at the start of the Depression.

NVDL: You must know things are bad when Depression era drops are being compared to current stock market wipeouts. But that's where we are now anf that's what we're facing. Personally I don't think it is right that ordinary citizens pay for the excesses of a few Wall Street Playerz.

clipped from news.yahoo.com WASHINGTON - In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day. With their dire warnings of impending economic doom [er...please don't use that word, because it sounds like 'gloom and doom' and it's not nice to hear...this is a doomsayer report and we don't want to listen to it because it's not good news, it's not positive and why can't we all be happy and live in financial-fantasy-land-without-the-facts] and their sweeping request for unprecedented sums of money and authority to bail out cash-starved financial firms, Bush and his economic chiefs have focused the attention of world markets on Congress, Ryan added. "We're in this moment, and if we fail to do the right thing, Heaven help us," he said. NVDL: The problem is knowing what is the right thing. Right now, pretty much everyone lacks discernment. The reason for that is no one saw the oil thing coming, and even now it's here, we're still not sure what's happening. We're still hoping for a reprieve, wishing for things to improve. That's kinda dumb knowing what we already know, but then we bin tellin' ya.