Fail - Bailout isn't Enough

[ForeverMaker]

They never should have passed the second plan. It was like a whiny kid that didn't get his way.. complain until everyone caves in.

Credit markets to Washington: Bailout isn't enough

Friday October 3, 6:24 pm ET

By Madlen Read, AP Business Writer

After House OKs bailout, credit markets tighten on fears the plan isn't enough to help economy NEW YORK (AP) -- The credit markets finally got a bailout bill, but the stranglehold hasn't let up -- a troubling sign that lenders and investors believe the package will only be a baby step in the long road to economic recovery.The credit markets, where companies go to get cash loans, have seized up since the bankruptcy of Lehman Brothers Holdings Inc. and in anticipation of the $700 billion plan initially voted down by the House. The House passed a revised version of it Friday following the Senate's approval earlier this week, but anxiety about its effectiveness kept demand for Treasury bills high and nearly nonexistent for other types of debt.

 

Overall, market participants have begun regarding the rescue plan as a medicine for what's ailing the financial system, but not a cure-all.

 

"At best, we can hope that it stems some of the more intense risk from the credit crisis. It prevents things from spiraling out of hand here," said JPMorgan Chase economist Michael Feroli.

 

Some are worried, though, that the plan will not work at all.

 

"Nobody knows how it's going to succeed," said Howard Simons, strategist with Bianco Research in Chicago. "It seems the American public had better sense than Wall Street and Washington -- the American public said, don't throw good money after bad."

 

the rest..

 

http://biz.yahoo.com/ap/081003/credit_markets.html?printer=1

[Dave1647545494]

I hope every person who voted for that bill gets voted out of office next term what a waste