Bailout Bill Nears Approval in Congress
Sep 25th, 2008 | By Contrarian Profits | Category: Financial NewsIt looks as though Hank Paulson’s controversial $700 billion bailout bill will make it through Congress. This from Reuters:
Congress is making “tremendous progress” on a U.S. bank bailout bill, Rep. Paul Kanjorski, the chairman of the House of Representative’s subcommittee on capital markets, a Democrat from Pennsylvania, told CNBC. An agreement on a bailout bill is “almost an accomplished fact,” [...] Kanjorski said.
The news sent US stocks skyrocketing this morning. The Dow (DJI) climbed over 200 points in barely an hour of trading. Justice Litle says there are 5 things every investor needs to know about the Paulson plan.
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Mark the date the Bill is signed into law. It’ll be the official end of the United States. I’m sure many countries around the world will cheer. Sit back, grab your favorite bottle, and enjoy the show of the largest financial collapse in human history.