Vote: 263 Yes to 171 No

This is a sad day for America.

President Bush was personally lobbying scores of representatives today and under pressure of economic mushroom cloud talk, those representatives simply caved in.

$700 Billion was just wasted and it will not create a single job, or address any of the structural issues facing the economy.

I will have additional thoughts later.
So far it is a “sell the news” event.

Thanks to everyone who helped try to do the right thing and get this killed.

Mike “Mish” Shedlock
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Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.