Welcome to Gaia! ::

All of it is very confusing to me, I don't understand what's going on.
From what I've got thus far:
Banks are going broke and being bought by various other banks.
Economy sucks so everything is getting more expensive.
Bush suggested to do something with a bunch of money?

I dunno.
Mind explaining what's going on to someone like me? ):

http://www.youtube.com/watch?v=TxgSubmiGt8

The video's basically a "why are we in an economic mess right now" explanation followed by some pro-McCain propaganda.

The history parts of the video are fairly on target, but there's a fair amount of propaganda in there too. When they say that Bush and McCain tried to get this legislation changed the vid blames the Dems for blocking it, and this was during when Republicans were the House and Senate majority party.


Last week and at the beginning of this week the stock market took a record dive. In secret committee a bill (H.R. 3997) was written to bailout the financial institutions to the sum of $700 billion dollars. Scroll down on CSpan Junkie and there are a lot of videos of house representatives explaining why they thought the bailout bill sucked. That was before they were given a paper copy of it. At some point Pelosi gave a speech where she blamed Bush's failed economic policies for the current situation - then voted for the bill anyway.

The bill failed. By ~20 votes. Republicans voted 2-1 against it, 40% of Democrats voted against it. Republicans got butthurt and said that Pelosi's speech caused it to fail. But I blame Ron Paul's awesome 2 minute speech.

So the bill failed, the stockmarket plunged again and there's talk of doom and gloom.



lol, if that makes any sense.