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Monday, September 29

For Good or Ill ...

On passage, House Resolution 3997:

Yes = 206
No = 228
Not Voting = 1

The Financial Bailout Bill has failed to pass the House of Representatives. Rep. Frank told a reporter for CNBC that the Banking Committee will wait to assess the impact this has on the financial sector before bringing the bill back and reopening negotiations.

I was watching CNBC while flipping back and forth from it to C-SPAN; when the outcome was no longer in doubt the Dow Jones tanked 700 points; it's since come back and is now about 500 points down. Crude oil on the NYMEX actually fell 9 dollars.

So, I guess we wait and see what happens next.

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