Word: congression
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...billion financial bailout package failed because most Americans wanted it to fail. Before the vote, members of Congress were getting calls 100 to 1 against the bill. The question is: why? It's easy to understand that bailing out rich bankers doesn't feel super, but why, despite all the efforts of all the country's leaders to fill citizens with fear of an economic apocalypse, did they not see a failure to act as a serious threat to their livelihoods...
...their biggest mistake was a lack of specificity. They never clearly told the American people what might happen if Congress did not act. "If you want people to support an action," says Dennis Mileti, an expert on risk communications who has studied hundreds of disasters of the more conventional kind at the University of Colorado, Boulder, "you need to link the action to cutting people's losses. And that link isn't in place...
...water-cooler conversation pretty much everywhere you go," says Bruce Cosgrove, head of the Auburn Chamber of Commerce (local Congressman John Doolittle voted against the bill). "We're all talking about this right now. [But] we are at the mercy of Congress. In the end, we have to hope they get it right, and that's where the uncertainty fits back in again...
...know of any other alternative. I'm just afraid that credit will dry up and the markets will plunge further. My whole retirement is based on what I have invested, and that could be wiped out." (Stone's Representative, a Democrat, did not support the bill in Congress...
...wanted them to make sure they knew what they were doing, and that it was the right thing to do. My fear was this was too quickly put together. I was surprised and relieved when it didn't pass." Freeborough says she's a "little more confident today that Congress will do the right thing. Now, I feel like they're going to take the time to see if this is really going to work, if this is the best option out there...