the republicans defeated the us congress bailout bill today, and worldwide markets tanked in response.
it was a purely political response to a crisis of which, i'm convinced, americans don't fully understand the consequences. many of them didn't support the $700 billion rescue of wall street firms, whose greed arguably started all this.
i don't really blame them.
why should they bail out the hideously wealthy fat cats of wall street? in short, because regular americans - with mortgages, jobs and mutual funds - are about to feel the pain.
and the rest of us are too.
that's why it's clearer than ever that the republicans are driving the american empire into decline. they voted against a bill that could have helped slow down a global economic crisis that's threatening to destroy their financial system, ruin ordinary people, and sink the entire world into depression.
thanks guys.
and now they're doing what they usually do - dragging out the socialist boogeyman and suggesting the market should be left to its own devices. but that's what got us into this mess.
meanwhile, here's the message from the us treasury:
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