Bailout Fails in House

Ygelsias writes:

Given that the House GOP didn’t deliver the 80 (or whatever) votes that Democrats were making substantive concessions in order to achieve, now I really don’t see why the Democratic leadership doesn’t tear this thing up and start writing a progressive bill. Not only might that produce a good outcome in the end, but it also seems to me like the thing that would be most likely to convince recalcitrant House Republicans to get with the program in order to preempt something more left-wing

Even though Warren Buffet said this morning that should the bailout package not pass the world would come to a halting end I remain skeptical of the bailout, mostly because every single economist I've read thinks the bailout is a bad idea and in moments of personal ignorance I tend to side with those who study these things for a living.

Monday, September 29, 2008