So here it is almost noon...and Things are not looking great...World Markets are reacting...all over, Asia to Russia to Europe.
The Repercussions have started....as we knew they would,....the Question is How bad is this..and can we in America do anything to stop this these tidal waves ?....Would the Bailout Package work as a Bandaid on this Hemorrhage ......I don't know...At this point I am just an Observer...Watching to see what happens next....I will post more during the Day.
Do read Paul Krugman's 3am Phone Call.
2 PM House Voted, and the Intervention Bill failed and the market did indeed plunge.
4 PM Update:
Market plunged 748 points.....10372.54......The Repugs are blaming the Dems....and Obama spoke about the issue, McCoot has been strangely quiet...( maybe he is planning his next suspension).
FINAL NUMBERS:
LATIMES:Los Angeles Times | September 29. 2008 | 1:16 p.m. PDT
Stocks tumble as bailout plan fails in House.The Dow Jones industrials plunged more than 700 points....777 Points — the largest point drop EVER — after the failure of the financial bailout plan in the House.In Other News: The House has decided to reconvene Thursday after the markets nosedive on bailout defeat, the Associated Press reports.
8PM:::
Andrew Sullivan really nails it in GOP KILLED IT.
UPDATE AS OF 5PM SEPT 30TH,
Here is the update of the Bank Situation as of tonight it is up to 1.75, that is better than Monday. But things are still shaky, and this article also explains that 3 other banks are wavering...
On the HomeFront:::
More about National City For Ohio Folks to follow.Say a little prayer for 6-6 and me....This is my landlord's bank...in January 2007 I moved because our Previous Landlord got foreclosed ( we had been living in our Downtown Loft that we loved behind Jacob's Field). So in the Middle of winter, I went searching for a place, in snow and ice,....and found this battered old house, it was Ten Below Zero, but I got us all moved in. I negotiated the rent and Fixed Every Blessed Inch of it, the Floors, the broken stairs, the holes in the walls, the pee stained walls,fixed up the porch. I even painted the Kitchen Floor Black and white....I made it a Home...And this past winter he finally fixed the Heat....It has been nice to have a dining room and here is the Cat Chair....and yeah , I even made a garden out back......but I will go collect boxes today and pray that I don't need to use them, (but here in Ohio if your landlord gets foreclosed, you have 3 days to be out)...I hope and pray that 6-6 and I can stay here until he goes to Film School Next year,(we were planning to stay until then)...and that we get to use that new Heater....I worry about everyone...getting through this,...I really do....Home is a Precious Thing....
