Houses Passes Bailout II

The House of Representatives just passed the second bailout package less than 48 hours after it was passed in the Senate. President Bush is expected to sign the package before the end of the day. Of course, the first bailout package was rejected earlier in the week causing stocks to plummet on Wall Street.

I am sure there is much in this new bill to which we can object. But in the absence of credible alternatives and a far greater danger in not passing some sort of package this will have to do for now. One can only hope this will help alleviate the anxiety that has resolved around our economy. If it does boost consumer confidence it gives people less of a reason to vote for Obama in a vote that takes place one month from tomorrow.