Hope for New Plan

The Stocks staged a partial recovery Tuesday following the previous session's historic loss, as investors hoped a revised financial rescue plan will emerge.
Republicans blame House Speaker Nancy Pelosi for the defeated $700 billion economic rescue plan. They accused her of delivering a partisan speech just as they were attempting to round up votes in favor of the bailout. Video courtesy of Fox News. (Sept. 30)
Just after the opening bell, the Dow Jones Industrial Average was up almost 218 points, or 2.1%, at 10583.36. The S&P 500 rose 2.6%, to 1134.96. The Nasdaq Composite Index rose 2.5% to 2034.07.
President George W. Bush made a brief statement at 8:45 Eastern, saying the economic damage to the nation will be "painful and lasting" if Congress fails to pass a $700 billion bailout bill. The bailout's failure has thrown into limbo the prospects for a federal intervention that the White House and many financial-industry veterans believe is necessary to alleviate the burden of soured credit bets lingering on many banks' books. Those instruments have clogged Wall Street's usual financing activities for months and, in a worst-case scenario, could lead to an even more intractable freeze-up that would deal a severe blow to the broader economy.
While im not politically savy, my opionion is that instead of using tax payers money, the foreign aid should be cut back. We spend so much money on other countries it is about time we spend money on us. After the US is resolved with financial expenses, then we should spend more money on other countries. This is a serious issue right now and ALL expenses need to be cut back. Some people were fortunate to not have lost alot of money, but the people that did are going to have to seriously change their life styles!! PRAY FOR EVERYONE!