September 30, 2008 - 5:00 pm
(A links shamelessly swiped from Drudge)
Flap:
Bush: Economy faces ‘painful and lasting’ damage unless bail-out passes / Sen. Clinton: ‘It sounds dire but … commerce could grind to a halt’
Fact:
National Post (Conservative Paper): Bail-out smacks of Marxism
Flap:
Dem Rep. Frank: Republicans ‘decided to punish the country’ when they killed bail-out
Fact:
Pence: ‘American people rejected this bailout and now Congress did likewise’ / 95 Dems voted against the bill that lost by 12 votes
Flap:
Telegraph (UK Paper): Western world will become significantly less wealthy
It means millions more Americans, and hundreds of thousands more Britons, will lose their jobs; it means the recession will be deeper and more protracted than previously feared; it means borrowing costs will increase on both sides of the Atlantic. Companies will cut back on investment. Pension funds will be depleted.
Fact:
Market: Stocks rebound, Dow up almost 500 points / Market: Dollar comes back strong against Euro after France passes its own bail-out
Err… That is… Uh… Unless the market bounces right back.
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