So, oil jumps $16/barrel, biggest one-day hike in history. The world is worried about this financial bailout thing. And, judging by comments online and on TV, Americans are not happy with the plan, either. Take a look at the latest poll numbers. It doesn't get any more negative than this:
A new American Research Group poll shows that “[n]o Americans say that the national economy is getting better,” while 82 percent say it is getting much worse. Only 17 percent approve of President Bush’s handling of the economy, with 78 percent disapproving. Even among Republicans, more disapprove of his economic performance than approve: Among Republicans, [...]
It's a safe bet that the legislative proposal by Treasury Secretary Henry Paulson Jr. to buy up bad Wall Street assets is going to undergo some fundamental revision.Troubling to many critics is the breathtaking extraconstitutionality of the proposal which would give the Treasury secretary unusual powers that couldn't be countermanded by Congress or the courts.That appears on its face to violate the Constitution's assertion of [...]
UPDATE: Oh, yeah. The Dow was in a freefall today - down about 400 points.
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