Citizen Fall Cornucopia
Instead of firing off a bunch of random posts that have no real discerning order, I thought I’d give you a rundown of what has been taking up space here the last couple days.
The most pertinent—and asinine—of these has to be the House’s rejection of the plan proposed by both Democratic and Republican congressional leaders and President Bush to rescue the dire state of the U.S. flailing financial markets.
The plan, which calls for $700 billion to be dispersed in specified increments, is designed to recover assets of struggling financial institutions and curb the amount of mortgage foreclosures while liberating the lending practices of banks and protecting the interests of the American taxpayer. Following a weekend during which Bush expressed gratitude towards both parties for their unity in drafting the plan, all that was needed for the enactment of the the largest government economic intervention since The Great Depression was approval from the House. Alas, Monday saw not only bipartisanship rear its ugly head, but the Dow Jones reported a record dip, closing with a decrease of 777 points.
The House rejected the bailout plan by a count of 228-205. View a complete roll call of how each representative voted before you write your state leaders a nasty, expletive-filled piece of hate mail.
As of late Monday, it was unclear as to when the House would reconvene to further discuss the proposal, as it was reported several legislative members left Capitol Hill for happy hour a tad earlier than usual.
For more, check out CNN’s Bailout Tracker.