That was the verdict Monday on the Bush Administration’s $700-billion plan to bail out ailing Wall Street firms. On Monday, the U.S. House voted it down.
Two out of three Republicans voted against the bill, defying President Bush’s strong support for it. A minority of Democrats (about 40 percent) also voted against the historic bailout measure.
The Dow Jones fell 770 points, setting a record for the largest loss in a single day. London’s key market followed suit. Oil prices dropped in anticipation of declining demand due to a possible global recession. Gold and U.S. Treasuries — safe havens in bad times — rose.
Are you worried? I’d really like to hear what you’re thinking right now — even if you only have time for a quick comment.
Do you know how your representative voted? Are you happy with his or her decision?
How closely are you watching the news?
How will it affect you? Your family? Your job? Your community?
Please, if any of those questions trigger a quick response — let me know what you’re thinking.
We’re in uncharted waters here as a nation and this is an important time for a researcher to understand how Americans are reacting, how they’re feeling about their families and how they’re spending their time as this all unfolds.
Please, click on the “Comment” link above, or if you prefer to drop us a quick Email,
you can do that as well. We’re also still inviting readers to sign up
for a couple of in-depth surveys Dr. Baker plans to conduct a little
later this fall. To take part in that effort, add your Email address to
the box in the upper left area of our Web site.