Why is the stock market still falling if the bailout passed?
(When the bailout plan was killed in the House, proponents pointed to falling stock prices as a reaction to the failed bill. Now the bill has passed and the market is still dropping. Will this bill really improved confidence in the lending market and will it start to reverse the economic downturn. Alternatively, did we just add potentially $810 billion to our national debt?)
Answer:
Blaming the “mortgage meltdown” is close to a scam. 94% of all the mortgages in the U.S. are still being paid off. The problem was in the unregulated speculation done with bundled sub-prime mortgages. This depression was caused by the same people being given $850 billion to solve the problem.
Anybody who votes for an incumbent politician next month is an idiot. We need to get back to a representative government of laws.
Posted: July 29th, 2010 under US Stock Market.
Tags: Stock market, stock market still falling