Today would be the day to buy shares of Google… if only I had any money to do that. I may try to do an electronic check to get some funds in so I can buy 1 more share. Google shares are usually $400 to $500 each, but they’re below $400 now with the stock market crashing. If you think that the stock market crashing will not lead to a depression in the United States and a worldwide recession, then, this is a fire sale! On the other hand, yeah, depression in the United States and a worldwide recession.
I don’t believe the House made a mistake by refusing to bail out the lenders that made bad loans. They were not Federally insured, so there was no expectation nor any obligation to bail them out. As much as I like the concept of people rescuing people from their mistakes, it doesn’t mean we need to save the rich.
But of course today’s news is a moot point. There will be another vote mid-week, and another, until it passes.