HR 1424 – Senate Bailout Pork Bill Passed Goes to House
senate approves bailout bill
As reported Yesterday night the Senate passed the HR 1424 economic stabilization act. The Bailout Bill which was approved by a majority vote of 75-24 in the senate last night was loaded up with additional measures. It is believed that many of these pork laden measures were designed to put pressure on the House to pass this bill as many of the measures were very popular measures to those who had initially voted against the bill in the first place.
The HR 1424 measure is pretty much just a rehash of the HR 3997 that failed to pass the house of representatives on monday. So in an effort to stabilize the stock market and failing economy, the senate thought that by passing this bill it would help cease the downfall of the stock market and possibly allow for some life on wall street for the 4th quarter.
Many industry analysts believe that it could be a benefit to the US economy for the short run, which would provide some assistance to the battered financial industry but in the long run it seems like a last ditch effort to try and prolong an inevitable recession.
Spending 700 Billion dollars on an industry that mismanaged itself seems like a bad investment if it is not regulated properly. Thankfully their are many requisites in place to prevent overspending on the wrong things and there will be widespread monitoring via oversight committees and reporting.
Is it wise to dump more money into failing mismanaged assets? If only to put a band-aid on an otherwise spend happy nation and to prevent world wide spread economic panic, is it the right choice at the sake of a possible great depression 2? Only time will be able to tell. Maybe our Children or Grandchildren will be able to survive the effects after all. Let’s go America! Let’s get our Act Together!
Similar Posts:
- HR1424 – House Passes Bailout Bill
- Senate Vote on Bailout Bill
- Senate Bailout Bill
- New Stimulus Package a Possibility?
- US Senate Election Results 2008
-
[...] and see, but some bill in a similar form will be through most likely Thursday at the latest. HR 1424 – Senate Bailout Pork Bill Passed Goes to House | GreenGop.org __________________ Guitarists get the chicks, Drummers get the girls, but Bassists get the [...]
-
[...] Bailout Pork Bill Passed Goes to House. As posted by Shin666. HR 1424 – Senate Bailout Pork Bill Passed Goes to House | GreenGop.org __________________ . [...]
-
[...] heres more links to checkout: YouTube – Broadcast Yourself. Passed thursday bud.
HR 1424 – Senate Bailout Pork Bill Passed Goes to House | GreenGop.org [...]
This bailout is the worst thing ever to be considered.
Tell your friends and reps to pass this instead of the bailout:
http://nesara.org/bill/index.htm