DOW Drops 778 on News of Bailout Bill Failure

DOW Drops 778 points in record one day total. Not since the great depression has the economy been in this type of crisis. The results of how this decision by Congress will play out over the next few days are new territory for those of us who are not over the age of 80 or 90. The word of the day in the markets was total and complete fear.

This is where the Republican Party forces their friends on Wall Street to take responsibility for some major bad decisions. The American people are not happy with the risk that CEOs of failed corporations took. They want these individuals to face jail time and the corporations to fail in order to clean house. Why should corporate America be bailout when Main Street Americas are being told to suck it up and face it like a man? Americans are losing their homes and their jobs so why should Wall Street be treated any differently?

The public is suggesting a bottom up solution where the people to be bailout are the homeowners. The market is going south because of homeowners not being able to pay the banks their mortgage payments so the simple answer to the problem is to help homeowners to met their monthly obligations. The likelihood of this being enacted by the Republican Party is slim to none but now is the time for Democrats in both the House and Senate to stand their ground because they clearly have the America voting public behind them on this issue.

The message is clear Main Street not Wall Street is important to America.