The Bailout Bill Fails; The Market Falls - Zennie's Blog Report

http://www.zennie62.com - This is The Blog Report for September 29, 2008, or "The Crash of 29" - the day the stock market saw it's largest one-day drop in American History.
On this day, the market reacted to the failure of the U.S. House or Representatives to pass The Bailout Bill, the Emergency Economic Stability Act of 2008.
I discuss the implications of this action and the political fallout behind it. Moreover, I take aim at the unintelligent view of people who claim that government's not in the market and should not be. In point of fact, there's no place where Government isn't in our lives. Thus, we must make sure it works.
I also take on Senator John McCain, who deserves blame for the failure of the bill's pasage as much as he believed his involvement would deliver House Republicans -- that did not happen. Senator Barack Obama was smart enough not to try and out-do Senator McCain, but to let the Congressional House do its job.

See it on CNN - click here.

NEW $630 Billion bailout -- Plus The 700 billion

we are looking at over 1.3 trillion dollars... when you factor in the 25 billion bailout they just handed the car makers in the Iraq war spending bill.. you now are greeted with almost 1.4 trillion dollars... this isn't stopping...

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Without a Bailout Plan, What Will the Cost Be?

Taxpayers are already on the hook for the failures of financial institutions, and it's possible that the bill will actually be larger without bailout legislation than with it. That's because the regulators who mind the financial industry will keep stepping in to prevent the chaotic failure of banks and other large financial institutions.

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Zennie Abraham's Trip to NYC For The CNN Roland Martin Show

This is a video of my just completed (as of this writing) trip to the CNN Roland Martin Show and the CNN iReporters, Kevin Negenberger, Maggie Dowline, and Katy Brown, I met.

BAILOUT BILL FAILS IN THE HOUSE. DOW FALLS 700.

The House appeared to reject a $700 billion Wall Street bailout bill, but the voting remained open, so there was still a chance the bailout could be approved.

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Bailout plan rejected

The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it.

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Bail Out? No thanks

House of Representatives rejects the $700bn bail out. Dow Jones crashes, queues start forming outside banks

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Mars Lander Sees Falling Snow, Soil Data Suggest Liquid Past

NASA's Phoenix Mars Lander has detected snow falling from Martian clouds. Spacecraft soil tests experiments also have provided evidence of past interaction between minerals and liquid water, processes that occur on Earth.

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Bailout Doesn't Pass

Stocks plunged after the House of Representatives failed to pass a bailout proposal aimed at shoring up America's financial services industry.

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House rejects $700-bln Wall St bailout bill

WASHINGTON (Reuters) - The House of Representatives on Monday rejected by a vote of 228-205 a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase broken mortgage-backed bonds from banks...

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"We just wanted to choose a really large number."

$700b... sure that'll do.

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BREAKING: House defeats $700B bailout

WASHINGTON - The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

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Terrorist ATTACK in Dayton Ohio.

A suspected chemical irritant was sprayed into the mosque at 26 Josie St., bringing Dayton police, fire and hazardous material personnel to the building. The 300 or so inside were celebrating the last 10 days of Ramadan with dinner and a prayer session, but the prayer session was suspended to deal w/ those suffering from tearing, coughing and other symptoms.

It is shameful that what are almost certainly U.S. citizens would engage in this terrorism - in direct contravention of the U.S. Constitution, and the principles the country was founded upon - as a way to showcase their religious intolerance. When we sink to the level of our enemies, we have no claim to be morally superior, and accordingly lose all credibility for enforcing our dissent upon them.

Whatever happened to "do unto others" and the rule of law in this country? I can hardly conceive of a more un-American action than attacking the peaceful practice of one's preferred religion. This behavior is abhorrent to me as a citizen of the U.S.A.

The brave souls who drafted our Constitution and the Bill of Rights must be spitting fire. Such actions as these bigoted zealots perpetrated in Dayton must be universally condemned - the criminals must be brought to justice. It is utterly unacceptable that such actions take place on the soil of the United States of America.

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