House votes down markets

How did we get to this point, at which the impact of a vote in the United States House of Representatives is related directly to what is happening in the stock market?

From the AP: “In the House chamber, as a digital screen recorded a cascade of ‘no’ votes against the bailout, Democratic Rep. Joe Crowley of New York shouted news of the falling stocks. ‘Six hundred points!’ he yelled, jabbing his thumb downward.”

Unbelievable.  Somehow our government has become so ingrained with business that its votes make stocks go up and down.  Politicians, who should be protecting the private sector from government intervention, instead apparently see it as their job to move the markets with their legislative maneuvers.  Think about it.  A United States Representative is standing up in the House, blaming his counterparts for a decline in the Dow Jones.  Our leaders should not have this kind of power.  The only way to remove it is to deregulate, get government out of business.

The parties are now slinging blame on one another for the bailout bill’s failure.  What’s worrisome is that Pelosi’s partisan rant is being cited as a reason many Republicans voted ‘no.’  Let’s hope that’s not the reason.  Let’s hope that they voted this way as a ‘no’ to socialism and corporate welfare, and not simply as a ‘no’ against Pelosi.  Sure, her bilge was misinformed and unnecessary.  But I would like to think our leaders’ principles extend beyond politics.

Bailout shot down

Here’s the vote tally in the House for the bailout bill vote, which was earlier rejected.  Send a note of thanks to your congressman if he/she voted it down, and a note to the rest that they won’t be getting your support in November.

After the vote a White House spokesman came on TV ginning up fear about an economic collapse.  Too bad.  This method of rescuing the economy is socialism and should be rejected.  Perhaps most appalling is that other, free-market options aren’t even being considered by the boneheads running this country.  How about a capital gains tax cut?  How about less regulation, since regulation is what caused this problem?  It’s as though our leaders want either more power or they want a collapse so they can say, “Told you so.”  Screw ’em.  I’d rather take a collapse than to hand over more power and money to the corrupt morons who caused this problem.