Today, the sun is shinning. People are moving about their business. And, the stock market is up. Amazing!
As I noted last night, better a bad bill, the Paulson bailout plan, failed. Now, people can take a couple of days off, cool off and start talking about logical solutions. Especially a long term one that addresses the abuses that the federal government set up that encouraged the bad lending practices in the first place.
Things are OK people. Need to calm down and get back to a negotiation that takes time and get something done right.
3 comments:
I'm still anxious because I feel like something needs to be done, but I had a bad feeling about that bill and I can't say I'm sad it failed.
Yes we survived the great fall of the market. Today the bargain hunters swooped in and bought deals in the market. You can't kill the stock market no matter what the doomsdaysayers say. We adjust to conditions and the panic is over. There seems like there was never a need to panic, because business will take care of itself. Stupid risk takers will get bought out buy smart conservative businessmen. the names on bank doors will change but the business will go on as usual. Fannie and Freddie will be back soon and the world will still turn as usual. We have raised the FDIC levels. If that was done last year a lot of people would not have lost so much money with Indymac. I hope we all learn something from all this.
So am I Kev. So am I!
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