Thank God for the rally today - that was depressing yesterday.
I think the bailout is the last thing we need - it's a temporary solution, not a long-term solution. Sure, the economy would immediately recover if the government bailed out Wall Street, but down the road it wouldn't be in our best interests. It would mean increased government control and a serious burden on all of us taxpayers, which in turn would be a burden on the economy.
I was actually proud when I heard that the bill was rejected. It would have been a serious blow to democracy if the legislators passed the bill in direct opposition to their constituents.
This is a temporary problem caused by scumbag brokers, overly optimistic and unrealistic people allowing themselves to be duped by said brokers, and the government (starting with Clinton's 70% homeowner plan, not Bush - I know saying that is political, but it's true) allowing freddie, fannie, and any other companies, to run wild. Several politicians, I won't name any names, warned congress of this problem several years ago when it could have been prevented, but their warnings were ignored.
It's a sad situation, but this is America. F'in A, we'll come through, no doubt about it. We don't need the government bailing us out.
Now, or in the near future, is a great time to invest. I just wish I had some money