"Let the words of my mouth, and the meditations of my heart be acceptable in thy sight, O Lord, my Strength, and my Redeemer." Psalm 19:14

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Sunday, September 28, 2008

Wall Street Woes

Democratic leaders have emphasized to rank-and-file members that Paulson has told them that he could only spend about $50 billion a month on the securities purchase program. Of the $700 billion figure, House Majority Leader Steny Hoyer (D-Md.) said: "Nobody believes that's going to be the final cost."

Sen. Richard C. Shelby (R-Ala.), the senior Republican on the Senate Banking Committee, who has refused to participate in the talks, said a "critical mass" was forming behind the measure because of fears that Congress's failure to act would cripple financial markets and devastate the economy.

From Sunday's Washington Post Sept. 28th, 2008 on the passage of the 700 BILLION
dollar bailout plan of Wall Street.

Moral of the Story - Do Not "loan" money to those you know have no means to repay.
If you are a Christian and you see those in need just give them the house but please don't think the government is the answer. Government is never the answer. Habitat for Humanity is an answer. Government is not.

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