The U.S. House of Representatives just defeated the Bailout Bill.
Middle Americans are not happy…and bailing out financial institutions that support CEO ‘wealth’ packages does not make sense to them….nor does the abstract finance that made this mess.
Hank Paulson has a problem….we have a problem….and that problem is spreading to commercial paper, business lending, personal loans, etc….and it’s driving down the value of many good corporations who have no debt, are profitable, and are growing.
I share the Main Street knee-jerk reaction that let’s the system fail…and I also realize the profound effect that will have on everyone.
Filed under: Finance
