Are you all following our nation’s financial mess? It’s surreal to me. Today, the Senate is going to vote on the $700 billion bank bailout. The House gave the bill the boot on Monday.
From a CNN article:
The bill, if approved, would allow the federal government to buy troubled mortgage-related investments from financial institutions, freeing them up for lending in a bid to pull the economy out of its credit freeze.
Proponents of the bill believe it would prevent the United States from sliding into a serious financial crisis, but opponents saw it as an unbearable burden to taxpayers and a rescue for Wall Street.
Do you think the Senate should rescue the banks? Can The Frugalista get a bailout plan? I smell a tax raise.
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I feel like it’s flirting pretty hard with socialism. With the rush to get a bill out, I wish they had taken more time and come up with something more palatable to the American People, who are paying for this darn thing!