Thank Goodness the bailout was stopped for now…..
Posted by Lew Rockwell at September 29, 2008 01:12 PM
What a heroic day! The people rose up against a coalition of every evil group in America: the central bank, Wall Street plutocrats, politicians, banksters, think tanks (including the pseudo-libertarian sort), big media, big academia, and big business, and won. Today we got a taste of what things may look like when the regime is finally toppled, and its theft and killing stopped. The Austrian economists are vindicated again, as is Rothbard’s political analysis, and our pizza party for Mises’s birthday today look on an especially festive air. The bad guys may yet beat us, but how sweet to see the CNBC types running around like chickens with their heads cut off. Now let’s get to work to defend the free market and sound money, and finger the Fed and all who support it as the culprits. Oh, and by the way, congratulations, Ron Paul. (Link)
The US House of Representatives has passed a $700bn (£380bn) government plan to rescue the US financial sector.
The 263-171 vote was the second in a week, following its shock rejection of an earlier version on Monday.
The package is aimed at buying up the bad debts of failing financial institutions on Wall Street.
US President George W Bush praised lawmakers for their “spirit of co-operation” before signing the bill into law later on Friday.
The House adopted the new version after the Senate added about $100bn