7 Billion or 700 points ?

Fox Business News: Reports that the Market fell over seven hundred points at the news that the bailout plan for Wall Street had been defeated. As of 8.40pm UK time it was down to 626.99. In 1987 Wall Street tanked, I recall what Reagan said of the event, there is nothing as fickle as a million dollars, well change that to a billion. The Market will fall tomorrow, but this is the time to invest, let the really good non banking stock fall then buy, if I had the money I would buy but let the stock hit the bottom first, at the end of the day this is not the 1930s, and this is not the Great Depression. It should be noted that what bought the West out of the Great Depression was not government spending but a War, World War Two.

Democrats blame Republicans!

The New York Times: Reports that the Democrats are blaming the Republicans for the loss of the Wall Street Bailout. Good the Republicans should use that against the Democrats, they should argue that Republicans care more about main street and not Wall Street, while the Democrats want to bail out rich Wall Street types. The Republicans could take back Congress with this simple slogan, " We Care about YOU, the Democrats care about WALL STREET "

Republicans Blame Democrats

RCP Blog: Reports that the Republicans are placing the blame for the defeat at the partisan feet of the Democratic Speaker. Since the Democrats control the House at the end of the day its the blame of the Democrats, if they didn't have the votes why let the bill on the floor, either way it looks bad for Speaker Pelosi, she could not manage her members in the House and she miss read the Republicans. How long will Pelosi be Speaker if the market tanks tomorrow. They will have to pass something, but what, and will the Republicans bother to support a new bill when they can run against a Democrat who supported the Bill.

228 No - 205 Yes - Wall Street Bailout

Fox News: Reports on the final vote to bailout Wall Street. The House of Representatives can be proud of its vote today, yes the markets will sell off tomorrow, but that not the point, they will recover, this is not the 1930s, the Western System for its faults has the Welfare System, thus no soup kitchens, people will not starve, its better hard medicine now that long tough medicine for years, If the bailout had gone through the Western Economy would have become the sick man of the world, the reason, in the Western system you can get rich but also you can lose. If you remove the benefits of making money and that means risks, you have the Soviet Union. The good banks and companies will move on, this could be the start of a golden era in Western Europe. No more government action to prevent those that want to make money and make jobs, if we grasp this chance we might thank the credit crunch.

Wall Street Bailout ?

The Times: Reports the Congressional Leaders, Democrats and Republicans are going to use their influence to over turn the House vote to reject the Bailout of Wall Street. Are we living in a banana Republic, will they vote till the right vote received, the House has spoken, that should be end of the subject.

The Vote in House - Wall Street

At last glance the House has failed to pass the bailout of Wall Street, at last count the vote was 207 Yes and 226 No. The House leadership both Republicans and Democrats will try to twist hands and any other part to pass this Bill. Lets hope the House shows some guts, defeat this bill House of Representatives.

The Mommy Problem - Economic 9/11

BBC News: Reports on the vote in the House of Representatives to bailout Wall Street. The title for this blog, The Mommy Problem comes from the last season of the West Wing, Josh explains to the Democratic Nominee that when Domestic Issues are main concern of voters they turn to Mommy, in this case the Democratic Party, when it comes to Foreign Policy its father and the Republicans. Thus since this is a major Mommy problem, one would expect Obama to use this issue to carry him in to the Oval Office. Lets see the Polls for Tuesday, those polls will show how the Presidential Debate has effected the race, as the cover the days after the debate and the bail out.