"You've Caught the NET!"


BAILOUT FAILS, AND WHO'S TO BLAME? Who Cares . . . I'm Running Scared!

It's George Bush's fault!  It's the Democrats fault!  The Conservative Republicans!

You know what . . . who cares? 

We're stressing here in Chicago - and it has nothing to do with our Cubs or White Sox.  The $700 Billion bailout failed - even with the modifications requested by both political parties, and agreed upon by the President.

To be sure, many of us in the Real Estate Industry, including myself and those in our Team, didn't like the smell of the plan at all.  But reality did dictate, unfortunately, that something had to be done.

A prime-time admonition from President Bush - with his low approval rating and little options left - was not heeded. A summit meeting involving Republican Presidential Candidate McCain, and Democratic Candidate Obama did no good. Arm twisting by U.S. House and Senate Leaders was ineffective.

The spinning was almost immediate!  Many Republicans contended Democratic House Speaker Nancy Pelosi and her scathing speech against the Bush Administration was to blame, although few Republican House Members voted for the Bailout Bill anyway.  The McCain Camp started jumping on the anti-Pelosi bandwagon.

Dems again beating the drum against the President Bush and his Administration for letting this all get too far out of hand.  Everyone blaming the Wall Street Big Boys, and what many consider the money-grubbing lending executives, for becoming hogs, waiting to be slaughtered.

Now what?

Another round in Congress, later this week, is likely.  Perhaps a more watered down bailout package is forthcoming, even though the original and modified plan didn't win very many friends.  "Plausible Denial" by fearful legislators, who, a couple of years from now, want it on the record that they didn't vote for the bailout originally - only later, when things started looking even grimmer.

Where I come from, Tuesday is an important holiday.  It's the New Year!  It is time marked by prayer for forgiveness for your previous-year sins, and hope for absolution in the coming year.

Very fitting now!

Folks, I'm very proud to be an American!  Always have been, and always will be.

But, now, I'm sitting here, feeling more than a little embarrassed!

And, when I think of "What's Next?", I have trouble finding an answer.

You too?


Comment balloon 14 commentsDean Moss • September 29 2008 11:34PM
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