Friday, October 03, 2008

The Fall of the 21st Century Roman Empire

First, I did support this Rescue Plan of our Banking and Credit system with the $700 Billion plan. However, with today’s Congressional passage of the Rescue Plan, the country has declared that the Free Enterprise system is not really free any longer. Both Parties approved this Rescue Plan. Now our banking system has been socialized and thank God this Bill passed.

I hate to think what might have happened if it had failed to be passed. But make no mistake, today our Financial System was declared dead and resurrected by our collective good. It may or may not work. But it clearly has set a precedent that times have changed, government Can help solve our problems and we need to consider how that might be used to reinvest in Renewable Energy technology as well as possible changes in our Healthcare system. "Yes We Can!", will be the new mantra. But, in the meantime, expect many to lose their jobs, in spite of the passage of this Bill. Credit may still be tight as Banks wait to receive funds from the Fed.

And on another note, there was nothing John McCain did when he returned to Washington and suspended his campaign, to get this passed. Any claim to the contrary should be dismissed as mere posturing. All of the requirements outlined by Barack Obama early on in this crisis were passed and the foundation of the Bill. It was not a good day in some respects for America, the second Roman Empire, but it had one bright spot, the Republicans joined the Democrats and passed this very required Bill.

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