$1trn wiped of the value of US stock markets yesterday alone.... hate those kind of stats but its puts the $700bn in context.... a lot of that has come off the value of US pension funds (401Ks) belonging to the "man on the street". It won't be long before they credit card limits are cut and many lose their jobs.
This comment sums up why we got the no vote... it is from Republican Congressman Paul Ryan....
"We're all worried about losing our jobs," Rep. Paul Ryan, R-Wis., declared in an impassioned speech in support of the bill before the vote. "Most of us say, 'I want this thing to pass, but I want you to vote for it—not me.' "
Well thats the sort of backbone that the great nation of the US of A is built upon... too afraid to do what you know is right because you are worried about your own skin.
This seems an appropriate quote... from a US politician with some backbone... little would appear has changed over the years....
"The credit and fate of the nation seem to hang on the desperate throws and plunges of gambling scoundrels." Thomas Jefferson 1790