The Dow Jones Industrial Average opened today at 10,483.96 and got as high as 10,796.26 just before the U.S. House of Representatives passed the Bailout bill. From then on to President Bush signing the bill to the end of the trading day it fell and fell and kept falling. It closed at 10.325.38 after falling to 10,310.25 near the closing bell. The Dow Jones only fell -157.47 points on the day but from its high of the day it fell 470 points.
This says how much Wall Street approves of this bill. Yesterday, the Senate approved the bill and Barack Obama, Joe Biden and John McCain approved of the bill. No surprise with Obama and Biden because of their socialist views. Then today the House voted for it 263-171.
What is in this 451-page bill? How much pork is in it?
In other news, Wachovia was taken over by Wells-Fargo. And, National City Bank almost was added to the FDIC failed bank list.
What a happy day this was! Congress and the president just put a band-aid on what is actually internal bleeding.
Here is how the Indiana congressmen voted today:
In favor of bill: Andre Carson (D), Joe Donnelly (D), Brad Ellsworth (D) and Mark Souder (R)
Against the bill: Baron Hill (D), Pete Visclosky (D), Dan Burton (R), Steve Buyer (R) and Mike Pence (R)
In my opinion, Carson, Donnelly, Ellsworth and Souder should not be invited back to Washington on Nov. 4. Vote them out!
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