So the Senate passed the bailout plan by a rather comfortable margin. I don’t think that momentum will last. When it comes to the bailout, pressure and doomsaying from the President, individual congresspeople, and prominent businessmen/economists don’t seem to be doing much. A lot of people simply don’t believe there’s any crisis - at the very least, they don’t believe the current plan is the right way.
A lot of times, such popular pressure wouldn’t matter. But now, between economic conviction, election year concerns, unpopularity by the general populace, and plain old partisanship, I’m becoming skeptical that the bailout plan passed by the Senate has a chance in the House, especially with all the rumblings still reported from that side of Congress, and the fact that so many Dems didn’t even agree with it.
ETA: Of course, there’s a flip side, what with the stock market’s drop a couple of days ago shifting the polls. Who knows if the volume of opposition is still at a fevered pitch, what with that and the media coverage. And Congress definitely doesn’t want to be known as the group that presided over the start of the Great Depression because they couldn’t agree on anything.
Will this plan pass, or will we see the Dow down 5000 come Monday? If it doesn’t, or can’t, what sort of plan COULD pass both houses? Is it anything that any prominent Congressperson would even consider (“consider” both in the sense of “hear of” AND “agree with”)?