Outraged

The more I think of what Senate Republicans did last night the more outraged I become.  Of all the stupid moves by elected or appointed officials during this financial crisis this one has to be the winner of them all.  Let's be clear. There aren't too many people (including myself) who savored giving Detroit a handout.  For the most part, the auto companies, in concert with the UAW have laid down the path to financial ruin by theirreckless actions and policies for far too long.  They all deserve to fail.  However, at this point in history that was just not an option.  Any intelligent person should see that.  But not a handful of ultra-right wing GOP Senators who spearheaded the defeat of emergency loans.  This was pure POLITICS.  Eventually the new Congress and President-elect Obama will come to the rescue.  Meanwhile the markets are crumbling again just when there was spreading hope that the bottom had been reached.  So for lack of a $15 billion bridge loan investors will lose much more than today on an aggregate basis.  Much more on the confidence scale.  Like I said earlier, "they should burn in hell".

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