Economy

The reason why are economy is in bad shape is our government is spending all kinds of money on the war when we should have went to war on 911. Instead we go to war like a year later and we lost a lot of men. Also our money that we are puting into the war is going to the hands of a terrist who is fighting aginst us, and its not a little bit of money its a lot of money. The other reason why our economy is crapy is that our big businessess don't know what to do with their billions of dollars so they exspect us, middle class people, to bail them out.



September 14th is when the Lehman brothers were on the edge of collapsing, so they scrambled to find a buyer. The 15th, AIG was downgrading and they needed 85 billion for their bailout. The 17th the Dow dropped 450 points by the end of the day. The 18th all of the banks around the world invested in 180 billion in global financial markets. The 19th Paulson outlined the governement's plan to put up hundreds of billions of dollars to help stem the crisis, saying the financial security of all americans depend on the our ability to restore our financial institution to a sound footing. On sept.20th administration asking for $700and billion to buy troubled mortage assets and get the financial system flowing again. Sept. 21st Pelosi said we will not simply hand over $700 billion to wall street and hope for a better outcome. Sept.22nd massive federal bailout that was greeted with relief on friday sending the dow up 369 points. Sept.24th debate about the Bush administrations proposed $700 billion bailout raged on. Sept.25th Washington mutual collapsed late thursday night marking the biggest bank failure on history. Sept. 29th the house representative voted down the $700 billion financial bailout plan by a 228-205 margin. The dow plunged 777 points its largest one-day point drop ever.
the $700 billion bailout plan was the first bail out plan. it did not work because there were not enough regulations for the big bussinesses and the republicans didnt get enough support and the tax payers would have to pay it back. the billion dollar bailout that eas before congress is now passed to bail out the big businesses