Stocks plunge as House votes on bailout

As voting began on the bailout bill in the House Monday, the Standard & Poor's 500-stock index and the Dow Jones average dropped sharply from their already depressed posts.
The New York Times

The story "Stocks plunge as House votes on bailout" published September 29, 2008 at 11:20 AM is no longer available on CNET News.

Content from The New York Times expires after 7 days.

[wolivere]

The mess here was caused by preadatory banking. I see this as a correction, I do not see why we should intervine, and use Tax payers money to fix a mess where Bank's ent crazy in lending, and took advantage of the americian dream to own a home.

Yes this will mess up the economy, but next time maybe someone will pay closer attention.

Let the banks sink, let the credit crunch hit. Let the housing market come back to the norm. Who really believed you could keep seeing 20%-100% housing valuse increases on a year to year basis?

[ericm512]

wolivere is only partial correction. The real problem is that Congress forced our banks to give money to people who could pay it back to buy votes of the stupid and poor, turned certain groups in quasi-governmental businesses (Fred Mac and Fannie May), allowed the quasi-private group Federal Reserve to screw up our money by cutting the interest rates over and over, and Democrat's blocked reform over and over. The Republicans deserve a kick in the butt for not forcing the fixed down their throat and not running on the economy mess their opponents created. They are morons, but at least this time they stopped a foolish move. We need government to enforce sound economy ideals and stop failed CEO/exectatives's from taking the money afterwards. The criminal nature of this whole mess needs to be dealt with!