US Economy: Lawmakers quickly point fingers after bailout fails

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The market had a record point loss today.

[quote]WASHINGTON (CNN) – Democrats and Republicans on Capitol Hill immediately blamed each other for the failure of a $700 billion bailout package in the House on Monday.

House Minority Leader John Boehner, R-Ohio, said there would be no revote on the bill Monday because members had left the Capitol.

It was unclear in what form the congressional leadership would bring the bill back to the House floor.

The stock market immediately dipped hundreds of points after it became apparent that the bill would fail. The Dow closed down 777 points at the end of trading Monday, a record plunge.[/quote]

CNN

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The Dow closed down 777 points at the end of trading Monday, a record plunge.

very scary times still ahead and with the second revision of the bailout not expecting until latter in the week or even Monday to be addressed at congress…

:imp:

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Very frightening indeed.  The one day loss is equivalent to a loss of 1.2 trillion dollars in market value. :astonished:

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Not frightening at all. Values can only be artifically inflated for so long before they eventually come back to reality.

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True.  The bull market has had a good run, but, mismanagement, deregulation and predatory lending is finally having a real impact on the marketplace.  I think this is more than a market correction of over priced stocks.
Heh, every time George Bush comes on TV urging action the financial situation deteriorates.

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The Onion:

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Ahh, America’s Finest News Source.

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LMAO, funny stuff:-)