I was watching CNN during the vote of the $700 billion bailout.
I watched as the stock market plunged 200 points in 5 minutes.
I watched as it bounced back, then back down again.
I'll confess I don't know about all of this, but it is kind of scary.
I think I'm glad that it didn't pass; it feels right that it didn't pass. That sure seems like an awfully huge amount of money.
I don't understand it all...and to be frank, I doubt most in Washington even understand all that was in the proposed bailout!
All I know is this. I want to see some people in orange jumpsuits, with large numbers on their chest, and Federal Board of Corrections on their backs...
I want them to lose their stock options, holdings in the company, and golden parachute payouts. Some of those payoffs, I mean payouts, probably could save the taxpayers millions and millions!
I saw a Wall Street investor on TV this morning in his fancy suit. He said, in a very snobbish attitude, "The economy is bad. We need the money, so give it to us." I was appalled. He was so matter of fact about it as if WE owed him something. It really kinda angered me. I bet if that tape gets a lot of play around the nation, no deal will ever get done (which I see as a good thing).
Low and Mid Duration went up yesterday. Really! Log in and check it out at G.S.
Good place to be right now!
B & J S
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