Chicken Little Here...
Situation is now a genuine economic crisis. Contrary to some erroneous thinking here, fallout will not be limited to Wall Street. Small businesses relying on credit lines to make payroll are not using monopoly money. Typically it involves timing issues linked to receivables or the flow of contract funds. Financial markets came perilously close to collapse on 9/18, all bets are off now. Some banks may fail not because of insolvency, but because of market hysteria. Happening as we speak - see National City Bank. Eerily similar to 1929.
The bailout is a social construct as much as financial. Thinking is that failure to pass the bill will result in 8% unemployment, rather than current 7% forecast (currently at 6.1% nationally).
If the one point change = 5M jobs, do the math:
$50K avg. salary X 5M jobs X 2 years = $500B
Not a bad return on investment. Time for an end to political posturing related to political dogma and exec compensation.
Now email your representative(s).
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