bailout, credit card offers, and wachovia’s failure

So . . . I got 2 credit offers in the mail including checks I could depost for 9 months 0% interest and 4.9% interest for the life of the line of credit up to $30,000 today. Just another day at the mailbox except that the entire financial world seems on the verge of collapse today. Don’t break into my house — they are shredded.

I was reminded that I predicted this last week although I also predicted it would pass — I just go back on forth — easier to be right that way!! So, it failed. This may be unpopular on this blog since we lean left (a little), and I don’t want to say I blame Madame Speaker Pelosi, but her remarks were imprudent. No one liked everything about it and the speech could have been given after the vote. You don’t rub people’s nose in it if you think it is really necessary. You praise the bipartisan effort and tell them that voting yes is helping people and they should be proud to be part of it.

Yes, I also think Mccain shares some blame for going up there and stirring up the House Republicans but they might have been against it anyway. Also to blame: House members who thought they should vote for it and did not because of Pelosi’s speech (that’s just cutting off your nose to spite your face or throwing the economy under the bus because of pride). BUT, it had support of less than 1/3 of most Americans. Even though we might think it is necessary, the majority of Americans are opposed. Is it surprising the 5 weeks before an election that politicians are trying to score points?

I predict “progress” without resolution tomorrow and a bill in the next week or so. It will have some changes so those who voted against it can say there were changes that drove their reversal (I don’t flip-flop!!), but it will remain basically the same.

The problem is that it will still pass by a narrow margin and that means everyone is not invested in making it work. We need everyone invested in making it work. (invested?!?!?! Get it?!?!?!?!)

Oh, and why Wachovia failed. Maybe the shouldn’t do this with their money:

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2 Responses to bailout, credit card offers, and wachovia’s failure

  1. lankdangle says:

    That’s what happens when you roll like P. Diddy. Is that a bank commercial or a rap video?

  2. lbsmom says:

    We had dinner last night with a couple one of whom works for WaMu, the other for Wells Fargo. Both have worked in the industry for decades. Since they’ve hopped around as banks merged, their stocks in many, many banks have either tanked or disappeared. And if that’s not bad enough, at age 60, neither expects to have a job much longer. Needless to say, they’re networking like crazy, but so are lots of others!

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