Thank Goodness the bailout was stopped for now.....
Hallelujah
Posted by Lew Rockwell at September 29, 2008 01:12 PM
What a heroic day! The people rose up against a coalition of every evil group in America: the central bank, Wall Street plutocrats, politicians, banksters, think tanks (including the pseudo-libertarian sort), big media, big academia, and big business, and won. Today we got a taste of what things may look like when the regime is finally toppled, and its theft and killing stopped. The Austrian economists are vindicated again, as is Rothbard's political analysis, and our pizza party for Mises's birthday today look on an especially festive air. The bad guys may yet beat us, but how sweet to see the CNBC types running around like chickens with their heads cut off. Now let's get to work to defend the free market and sound money, and finger the Fed and all who support it as the culprits. Oh, and by the way, congratulations, Ron Paul. (
Link)
Update:
The US House of Representatives has passed a $700bn (£380bn) government plan to rescue the US financial sector.
The 263-171 vote was the second in a week, following its shock rejection of an earlier version on Monday.
The package is aimed at buying up the bad debts of failing financial institutions on Wall Street.
US President George W Bush praised lawmakers for their "spirit of co-operation" before signing the bill into law later on Friday.
The House adopted the new version after the Senate added about $100bn
From Russia: The USA - Bailout Failed! Hallelujah!
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I heard the vote tally was in but the gavel has yet to fall or the timer stop. The rules can get fairly complex in Congress. Which only means that the people in power intend to stay in power. When the powers that be have to resort to this method of passing a bill, it doesn't speak well of the bill or their efforts.
By the way, have you noticed Secretary of State Rice has been very quiet the past few days. Perhaps her vitriolic dialogue has not been well-received by those countries loaning the US money to operate in this financial mess.
The last I saw the DOW was down 661 points. Haven't heard of anyone jumping out of windows though.
Hey Blackseabrew,
I am hearing that the Fed is just going to print up 630 billion dollars and put it into the system.
Merry Christmas!
Yes Rice seems too quiet....
But then Bush has been worthless also. They can instigate the bull but have nothing to stop the bull when it gets out of hand.
Kyle
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