Thank goodness for Congress finally standing up to the President and his cronies by defeating this terrible bailout bill. Even my Congressman, Virgil Goode, had enough sense to vote against government robbery of his constituents - Eric Cantor what were you thinking?
Although this victory has occurred, there is no doubt that some form of a bailout bill will eventually pass. All Pelosi has to do is entice 12 more Democrats to vote for this bill and that has a great probability of making the bill much worse. Despite all of this, there is still one significant question that I have yet to find an answer - why do Paulson, Bernanke, and Bush even bother bringing this bill to Congress? Just today they injected $620 billion into the credit markets? And they certainly did not require a vote from elected officials when they decided to bailout Bear Stearns, Fannie, Freddie, or AIG. So why do they bother sending a $700 billion bailout through Congress when they obviously do not need such a vote to continue with the what they are currently already doing? After all the exciting political battles between our corrupt leaders in Washington, the Federal Reserve will do what they want anyways.
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