BlackLiberalBoomer

This afternoon, the first Congressional vote for the “Bailout Plan” failed to pass in the House of Representatives. It seems as if each side, Democrat and Republican, is blaming the other. Who’s fault is it?

George W. Bush asked for a “bi-partisan solution”, which should mean that neither side is “responsible” for passing the entire bill. The Republicans “promised” to deliver 77 votes; but they only delivered 65. The Democrats “promised” to deliver 140 votes; 140 Democrats voted for the bill. The Republicans, led my House Minority Whip Roy Blunt (R-MO), blamed House Speaker Nancy Pelosi (D-CA) because they deemed her speech before the vote as “partisan”; therefore, 12 Republicans changed their vote at the last minute. The Democrats said that it was incongruous for Republicans to change their vote because “their feelings were hurt”. Even though George W. Bush is a Republican, his “leadership” was not enough to deliver enough Republican votes; neither was the “leadership” of John McCain or Dick Cheney.

Whoever is “to blame”, the fact remains that the crisis remains. The Dow Jones closed down over 700 points, and the credit markets are still in paralysis. People are having trouble getting loans for cars as well as homes; and small businesses cannot get credit for day-by-day operations. Because of the Jewish holiday of Rosh Hashana which begins at sundown today, the earliest day another vote can take place in next Thursday.

So what can be done? Not much. The foreign markets watch what goes on in the American markets, and what happens on Wall Street affects “Main Street” and the “streets” around the world. We are in a global economy, and it seems as if a domino effect is taking place.All we can do is watch and wait; AND contact our Congressional Representatives and let them know how we feel. Do you know who YOUR Representatives are?

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