House Republicans today failed to pass the bailout bill that caused the Dow to plummet by over 700 points. Top republican leaders in the house said they didn’t vote for the bill because Nancy Pelosi made a partisan speech.

Really? A speech? That’s why you don’t vote for a bill? Not because of the terms of the agreement but because someone hurt your feelings? Give me a break.

My personal “conspiracy” theory on all this is that they let this bill fail today on purpose - knowing exactly what would happen. They knew the Dow would plummet and this will now allow all of their wealthy financial friends and backers to go on a massive shopping spree for the next few days at bargain basement prices. It’s like throwing a 70% off sale at Walmart or turning back the clock to early 2000 just after the dotcom crash.

Obviously the market will rebound eventually even if it’s likely to get worse before it gets better. Luckily I was smart enough to convert my 401K to cash back in January. But I think I’ll be snatching up some bargains myself tommorrow!

So in this case I guess I owe the republicans a big thanks!

Tags: Congress, Democrat, Republican, , President, WhiteHouse, Politics