House rejects banking bailout

[aisa0]

EDIT: I love this statement, from yarrowkat: In an unprecedented act of democracy, the house jettisoned the bailout.

The house has just rejected the proposed bailout of the banking industry. I am ridiculously excited by this news. From a purely symbolic point of view, the House has just changed the rules of the game. I think there was this general

Comments

[aisa0]

Well, certainly I don't think the situation is anything near the kind of social collapse that requires pointing a shotgun at your neighbor. I think that we have a good chance of seeing inflation out of this situation, as the treasury will be printing more bonds regardless of the final shape of the bank bailout