Why it <was> important that you Make the Calls to Washington This Morning

The historic vote about to take place in the House is going to cost us $700 billion. It's either going to help the credit markets or simply pass our money to benefit shareholders of private corporations.

Whatever you may believe, call you Representative now. Use your voices.

My thoughts below the fold.

Call Your Representatives this Morning and Say No to the Bailout Bill

Comments

Paul Krugman

this morning as just emailed to me

For the fact is that the plan on offer is a stinker - and inexcusably so. The financial system has been under severe stress for more than a year, and there should have been carefully thought-out contingency plans ready to roll out in case the markets melted down. Obviously, there weren't: the Paulson plan was clearly drawn up in haste and confusion. And Treasury officials have yet to offer any clear explanation of how the plan is supposed to work, probably because they themselves have no idea what they're doing.