Stock quake! Bailout called off
Dropping and dropping, crashing and crashing!!! The world economy is in crisis.
Totally no good news released this morning. The whole world is in confusion all the sudden. The Bailout plan called off. The European market is seriously crashing. Asian market sank in early trade after the U.S. House of Representatives failed to adopt a financial bailout plan, which triggered the largest point drop in U.S. market history. The Japanese market is the worst.
People do blame on Bush. Someone had been interviewed on our local news, and said “It’s Bush!!! It’s all Bush. Because of his credibility and political clout long gone among Democrats and lacking among Republicans.” Not only outsiders would give such comments, I believe most of the Americans had blamed their nation’s economic problems on “failed Bush economic policies.” Sorry Bush! You indeed become a VICTIM of being blamed on everything. Regardless, the bailout plan is totally involved with the election issues and the internal breakdown of Republicans. If the bailout plan did go through, then it may not be a good news for the American taxpayers. It’s hard to make a good balance with a winning proposal that makes everyone happy.
Well, no more news until Thursday……Everyone looked so sad on the news. We worry that the unemployment rate would be raised in the coming few months. The banks may not handle the pressure, and cause bankrupt, etc. etc. It does sound horrible.
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“Stock quake” is a new word for me
But it indeed has been that!
It is horrible! But as much as I dislike our current sitting President, Bush is nothing but a scapegoat in this scandal.
The people who laid the groundwork for the current crisis were known as the Keating five. Wikipedia has a very good article about them. Not too lengthy, and very informative.
http://en.wikipedia.org/wiki/Keating_Five
useful info…thanks!