LilaTovCocktail: Ingredients: one part NE Ohio; two parts politics; two parts media, and one part each: culture, family & the Jewish community. Directions: Shake well.

Bailout failure yields scariest NYTimes front page since 9/11

9/29/08

Thus sayeth the New York Times:


Checking the #bailout meme during the last few minutes on twitter:
  • jeffjarvis: I come out from my editing cocoon and find the world falling apart. We are so fucked.
  • brownspider: Conspiracy theory #1: Republicans killed bailout deal so that on Thursday people will be talking about the deal and not about the VP debate.
  • Reuters_TopNews: U.S. bailout rejected; fear seizes markets 
  • sgraven: I was totally into twitters #bailout that I didn't realize I was supposed to leave work 11 mins ago.
  • hbeeinc: #bailout folks - this is not a red and blue issue - it's about greed - that doesn't know party lines
  • danielerossi: Why don't they #bailout the homeless?
  • colinjohnston: @ricksanchezcnn if house republicans want to blame pelosi 4 stalled bailout, when 2/3 of their rank & file voted no, what's a citizen 2 do?
  • Moer: Oil plunges $10 as US bailout plan voted down
  • wondermade: Fun fact. The stock market lost $1t in value today, the bailout plan was for $700b.
  • Diva_Ali: They keep calling the bailout the "failed plan". It didn't fail. We didn't institute it. The media needs to get Hooked On Phonics.
  • 3business: Harvard economist says bankruptcy is better than bailout
  • NEWZOF: [Videos] Bailout's main leverage is psychological
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3 comments:

Carole Cohen September 29, 2008 at 10:08 PM  

3business: Harvard economist says bankruptcy is better than bailout

what if he or she is right? We've all been hyperventilating all day but what if the economist is right? And if enough 'things' or protections for 'main street' are put into the new bill on Thursday, it could sway some of the 95 democrats who voted against but maybe sway quite a few more on the republican side. This has certainly been a wild ride.

LOL I also liked this one: brownspider: Conspiracy theory #1: Republicans killed bailout deal so that on Thursday people will be talking about the deal and not about the VP debate.

LilaTovCocktail September 29, 2008 at 10:15 PM  

I know, Carole. It's scary how difficult it is to figure out what would work best. Listening to what economists say will be needed to strengthen the economy in the long rung, it makes sense to me that the bailout's primary value is psychological. Which doesn't mean it's not necessary in a system where confidence is so crucial that it is practically quantifiable.

David H. October 1, 2008 at 11:21 PM  

I was shocked that the bill failed. I thought it was too big to fail, a phrase we've been hearing a lot lately. Yeah, we don't know what will work, which is the best way. Suddenly we've all become MBAs. But I figured that some very good people put the plan together, and that it was reasonable to support it. How extra anguishing to learn that my member of Congress voted against it.

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