The House has rejected the financial stabilization bill (more commonly known as the bailout of Wall Street). Republicans voted 2-to-1 against, but almost 100 Democrats bolstered their numbers in the 205-228 vote.

Now we are going to see who was right–Paulson and Company or the free marketeers. Or can Pelosi, perhaps the weakest Speaker of the House in recent memory, rally her troops and pass it along party lines? And which path is the correct path? Economists are all over the place on this.

We truly live in interesting times.

Leave a Reply

Your email address will not be published. Required fields are marked *