Tuesday, September 30, 2008


Traders were stunned by the U.S. House of Representatives' rejection Monday of a US$700 billion emergency bailout package that would have allowed the government to buy bad mortgages and other sour assets held by troubled banks and other financial institutions. With elections in November, many lawmakers were unwilling to take the political risk of supporting a measure that many American voters see as an undeserved bailout for rich, reckless investment bankers.
Which means the way is still clear for the trickle up economics ''NORTH FLORIDA COMMON SENSE PLAN' is still open. Stock prices rise when consumers spend. If the treasury would start now, we would all have a merry christmas. The Dow Jones industrial average plunged 777 points Monday, its biggest ever single-day drop, or nearly 7 percent, to 10,365.45, its lowest close in nearly three years. GLENN NUNLEY. NORTH FLORIDA.

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