rraut1 (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} rraut1) wrote,@ 2008-09-29 23:51:00 |
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But a good day for democracy. Republicans have finally left behind the insane Bush borrow and spend era. The Paulson price tag failed for the simple reason that the Bush administration couldn't explain how it would help the situation to even financially literate people, much less to the general public and the financially illiterate Congress.
The situation is serious but it requires considered action rather than shotgun scatter shots of money. Unfortunately, we will have to wait for the next administration before anything like progress can occur and I expect the first attempts will be off the mark. More than a trillion dollars of market capitialization was lost today. But it's only money.
There will be panic. People will loses jobs. But America will survive.
