Bailout fiasco

DOW falls (a lot) and closes at 10365, that's 777 (6.98%) down: the largest single-day point drop in history! S&P down by over 8.8% and NASDAQ by over 9.1%. Still, in terms of percentages not exactly a "black Monday" but pretty darn close...

Now, can we modify this failed strategy and (finally!) help the real victims, i.e. the individuals..? We don't need to prop up the very people (greedy crooks, AKA "bankers", most of them MBAs) who got us into this mess by betting (yep, that's the word "betting") that the value of homes will climb indefinitely. Geez, is there a chance that the Whartons, Sloans, Cornells and Yales of this world have produced a bunch of idiots who have finally succeeded in destroying our economy..? And isn't "a 10 000 MBAs at the bottom of the ocean" a good beginning..?

Quotes and headlines:

The Times of London: US bank bailout in chaos after shock vote

Washington Post: Lawmakers Scramble to Figure Out Next Move in Financial Crisis In 228-205 vote, lawmakers block bill that would have allowed the government to buy up debt held by cash-starved Wall Street firms.House Rejects Bailout; Markets Plunge