Luckily the people in the United States know their right. Many of them are angry and got frustrated. They called and write to Congressmen and Senators, and told them what they needed. These Congressmen and Senators received calls and letters more then ever. They were overwhelm with people who voiced their needs. They needed that Main Street to be corrected first, not Wall Street.

The problem with people who live at Main Street was trapped by these speculators, the CEOs of financial institutions and de-regulators who were greedy and only thinking about short term and giant profit for themselves. One of the traps they created was sub prime loan for the innocent and naive American Dreamers.

This $700 billion bailout bill was proved incorrect on September 29, 2008 where 228 members of House of Representatives voted “no” against 205 members.

I am sure our government will realize that they are representing their people who live at Main Street and they will act for the best interests of these people by creating another solution that is relevant to this problem.

Though I can’t suppress emotions of frustration about the amount of stubborn socio-economical conservatism in American society:

Looking from the other side of the other ocean, knowing now the House of Representatives has torpedoed the amended proposal, I’m sad to conclude the US is heading for a total disaster area. And the rest of the world in due time will paying for the bailout of God’s own country.

And they had it coming with all the financial witchcraft, embarrassing debts, fanatical Friedmaniacs, total destruction of public services. These calls for less government, less regulation, less social security, less taxes. This crazy belief in the invisible hand of the free market. It’s not just Wallstreet, it’s in the veins of what’s now called ‘mainstreet’ America as well ( I just saw some Republican member of the HoR warning against ‘the slippery road to socialism’ – I would like to think he only lost some perspective in the process, but I’m afraid this nonsense is in the minds of a lot of the voters in November).

Let’s hope the Americans will come to their senses. And maybe, just maybe Obama will not be like John F. Kennedy but will turn out to be the new Franklin D. Roosevelt. But I wouldn’t bet on it.

‘Our economy has continued growing, consumers are spending, businessare investing, exports continue increasing and American productivityremains strong. We can have confidence in the long-term foundation ofour economy…I think the system basically is sound. I truly do.’
– President Bush, July 15, 2008

‘Our entire economy is in danger’ … ‘supply urgently needed money so banks and other financial institutions can avoid collapse’…
– President Bush, Sept 24, 2008

‘I have great, great confidence in our capital markets and in ourfinancial institutions. Our financial institutions, banks andinvestment banks, are strong. Our capital markets are resilient.They’re efficient. They’re flexible.’
– Treasury Secretary Henry Paulson, March 16, 2008

‘The credit markets are still very fragile right now and frozen’ Pushing for $700 billion bailout bill.

– Treasury Secretary Henry Paulson Sept 21, 2008 NBC’s Meet the Press