The Bailout Bill Passed yet the Stock Market Continues to Slide

 We were told that we had to do something right away to save the economy. To wait would be dangerous. There was no time to waste. We needed to save Wall Street. We were told that doing something was better than doing nothing and that WE MUST DO IT NOW!

 Then congress passed the economy socialization bill otherwise known as the Wall Street bailout bill, and we could all breathe a sigh of relief because congress and the president saved the day. WHEW!

 We were then told that we had to be patient as the government took over the economy, the stock market, the banks and the mortgage industry in a move that Hugo Chavez surely must be jealous of. The question is why is patience necessary now when quick reaction was needed before? We would have been better off with a little patience before this disastrous piece of legislation that has begun the slide into socialism was ever signed. Maybe then we could have had a bill that really helped the economy and not a bill designed to let the government take over the economy.

 So what has happened since President Bush and congress saved the day? Not much.

The U.S. stock market has lost 1,417 points–a decline of nearly $3 trillion in value–since President Bush signed into law a $700-billion financial industry bailout bill that was supported by both the Republican and Democratic presidential candidates.

 But the bailout bill passed, I thought everything was supposed to be alright now. I thought this was supposed to stabilize the stock market. At huge taxpayer expense Wall Street, the banks, and the mortgage industry were bailed out. Good hard working Americans had to foot the bill on a bill that will do nothing and be of no help just so politicians can look as though they tried to do something.

 In the rush to do so much they accomplished so little, and we are going to pay dearly for it while the people who are responsible for this mess, civilians and politicians alike, will walk away without paying one cent.

 The same result would have occurred if congress and the president did nothing, and the taxpayers would not be out $1 trillion.

 This is nothing but a travesty.