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OK I know I normally post about hip-hop related content but after seeing emails from friends who work in finance all day I feel the need to vent a little and maybe shed some light on the current economic situation since it does affect us all. I think that actual stock market chart from today says it all, it is almost cartoonish. So as if you already didn’t know the stock market today started to reflect our fears of the current financial crisis. After a weekend of hopeful deliberation in which most reports were favorable, congress decided to vote for but not pass, a bailout plan to help our economy. Inevitably, the stock market lost close to 800 points in a single day. Although, percentage wise it isn’t close to the biggest loss in history, it is still the greatest point loss in a day in stock market history. I could go into detail about everything happening but won’t, the CNN.com article posted below will do a much better job of that. Although Bush does deserve blame for getting us in this mess I’m not even going to focus on him, instead I will comment on congress. Let me start with WTF congress? Due to your inability to see past party differences and your own egos, you now have delayed passing a bill that could help our economy in a true time of need. I blame the parties for not trying to and not accepting attempts to reach across party lines. Also I blame individual politicians in congress for their incompetence in seeing past their voting records. I think some of these politicians are scared to vote for a bill and basically put their stamp of approval on it in case something might go wrong. Now the vote is delayed until at least Thursday and for almost a full business week the stock market will be left to plunge further in despair. Thank you congress. Our country needs leadership and a direction to head in to get us out of this mess and you give us nothing, I’m so glad McCain suspended his campaign and flew back to DC for this. To all of the politicians out there reading this (haha) I leave you with this quote “All that is necessary for the triumph of evil is for good men to do nothing.” – Edmund Burke Get your act together and do your job! |
