Bailout Fails to Pass House. Stock Market Plunges.
Apparently, there’s still no agreement on a bailout plan as the House of Representatives failed to pass the bill. The stock market has responded by dropping over 500 points as the entire financial system holds its breath to see what happens.
The bill wasn’t perfect. But I don’t think there is a perfect bill. It’s a horrible situation that will require us to choose the least bad plan. Hopefully lawmakers can get their acts together and come to an agreement soon.
Unfortunately, that will take at least until tomorrow as House leaders have said there will be no more votes today.
More as it develops…