Stock Market drops after bail out plan is passed
By lilwonders
@lilwonders456 (8214)
United States
February 10, 2009 5:00pm CST
After news that the ecomonic stimulus plan had passed the stock market starting dropping. The dow dropped to a three month low, the dollar slipped more vs. other county's currency, the S&P lost 43 points.
Some economist are saying it is due to the TARP plan that was revealed today and the bail out plan getting passed. THey are calling it a big huge disappointment.
So if the word that it passed and what was going to be done with TARP was enought to drop the stock market and the dollar, what is going to happen when it actually goes into effect. What do you think? Is congress taking the wrong approach and making things worse in the short and long term?
1 response
@belhaven14 (454)
• United States
11 Feb 09
Sometimes I wish Congress would listen to Wall Street (to a point of course). Congress is worried about helping the economy recover, yet the people who are so important to the economy completely disagree with Congress's actions. It seems like the only news channels that has really disagreed with the stimulus bill are the financial channels. You would think that they know what is best for the economy. I guess all we can do is hope that the stimulus bill doesn't force us into a deeper recession. I'm really worried about how we are going to pay off the massive amounts of debt we have accumulated, but I guess that problem hasn't gotten into Congress's head yet.
@lilwonders456 (8214)
• United States
11 Feb 09
I am worried this will make things worse not better. You can not spend your way out of debt. I really do not know what congress is thinking....or rather I think I do...they could care less about the ecomony..they are just doing a big cash grab and selling it to the poeple as a stimulus plan. This will blow up in their faces when it does not turn things around. We may see massive turn over in congress in the next election.
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