Warning: Political Post ahead
So, Congress listened to America and didn't pass the bail out plan. Democrats who were for it blame Republicans, or they blame the lack of help for the middle class homeowner. Republicans blame Nancy Pelosi's dig at Bush before the vote (which, honestly wasn't needed and a petty partisan attack on her part, but it's also petty to switch a vote, because the Speaker couldn't hold her tounge).
Personally, I'm glad. This bailout did not sit well with me, can't put my finger on why exactly but it was enough of a concern that it shouldn't have gone through. Also, I heard a congressman say Congress was not designed to rush through legislation. This is so true. Gloom and Doom speeches aside, Congress should take a long look at what they're trying to accomplish.
Now that all being said, are we facing the Second Great Depression, or is this just a bunch of panicked CEO's trying to find a way out of their greed? I personally can't tell.
My grandmother has been saying for a couple years now we've moved beyond Recession. She lived through the Great Depression, so I would take her words more than any politican, afraid to utter even the word Recession as it makes their constituents angry. So according to her, we've pretty much been in a Depression, just refuse to admit it.
I have no solutions. I'm a bit for letting the companies go under, as punishment for their greed. I'm also fine with homeowners who went well beyond their means and knew it loose their house. Of course, there's those that didn't go beyond their means and are suffering, so I can't be that cold.
Fiscally speaking, I'm with the Republicans in thinking that the Government should not really get involved. That's tempered with the Democrat side of adding some of the oversight that had been removed in the past 10-12 years.
Well that's my rambling for now. On a lighter note, I bought Lego Star Wars II (the original trilogy) for my PC and it's a fun and cute game.