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What lessened impact of bailout and Palin

Business Times - 07 Oct 2008

Bill's passage, vice-presidential debate fail to affect economic and political realities

By LEON HADAR
WASHINGTON CORRESPONDENT

AFTER defeating the first financial rescue bill on Sept 29 and sending the stock market into a sharp fall, the US House of Representatives approved a modified version of the US$700 billion bailout package last Friday by a 92-vote margin, following a 'yes' vote for the plan by the Senate on Wednesday. And yet Wall Street didn't rally.

In fact, the Dow Jones Industrial Average ended down 157 points, or 1.5 per cent, to 10,325 at the end of the day, following the news that Congress had approved the bailout.

And after Republican vice-presidential candidate Sarah Palin had become the butt of jokes following her disastrous performance on television news shows, the Alaska Governor didn't self-immolate during the televised vice-presidential debate on Thursday.

Some pundits even argued that she was poised and charming duri…

On the election

Please read my new commentaries on the foreign policy debate between Obama and McCain and on the way the relationship between politics and media impact on Obama and Palin.