Congress rejected the bailout proposal with 228-205 vote and market players are starting to panic. When it became clear what was going on in Washington the Dow dropped almost 700 points ...
Here's how our representatives voted: Rep. Jim Costa, YES; Rep. Kevin McCarthy, NO.
Here's what we have: Republicans killed the deal ... George W. Bush no longer has any influence over his party ... John McCain's "return to Washington" publicity stunt has been exposed for being just that, a publicity stunt ... the global market MSCI index has tanked 5.9%, the steepest decline in its 38 year history ... and global market players are so spooked that the Fed appears to be taking matters into their own hands ...
What a mess. Stay tuned.
- Mark
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