A bailout is a bailout is a bailout

September 29, 2008

Buckle up, boys, it’s gonna be a bumpy ride:

Stocks on Wall Street took a blood bath Monday afternoon after the Treasury Department’s proposed aid package for the financial sector failed to pass the House of Representatives.

The Dow Jones Industrial Average, which sank as much as 705 points, was down 612 points to 10,530, and the S&P 500 lost 79 points to 1134. The Nasdaq plummeted 140 points to 2044.

See, the original reasons for the bailout don’t matter anymore. Now, we have to have the bailout because we said  there would be a bailout, and Wall Street is counting on it. The bailout is now self-justified. Brilliant!


4 Responses to “A bailout is a bailout is a bailout”

  1. Larry Morris Says:

    I believe the actual quote is “fasten your seatbelts, it’s going to be a bumpy night”, … but either will work – yes, gonna be a blood bath – but as I recall, there was a blood bath when the dot.com bubble burst also, and I believe we recovered from that.

  2. tim zank Says:

    It’s dragged on long enough now, it is now apparent to most of us yokels in fly-over country that we don’t need a bail-out. We need new people in congress.

  3. Leo Morris Says:

    Another Bette Davis quote comes to mind: “You should know me well enough by now to know I don’t ask for things I don’t think I can get.” Some people forgot that, huh?

  4. Larry Morris Says:

    Well said, Tim, well said, …

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