Senate Passes a Bailout for Wall Street

Well, in case you haven't heard, the senate has passed the much touted bail out plan. Unfortunately, I think that they got a little preemptive in there assessment of the supposed crisis. There is no doubt that there is a crisis right now. Credit has been frozen for a little while now and thousands of people have been feeling the effects of the overzealous companies. The unfortunate part is that the SEC recently took action (thanks shotsacrossthebow). The SEC action just might make any bailout plan redundant. Now some may tout me as being a liberal monkey completely unconnected with the whole crisis. Well, they are wrong. I felt the effects of this situation faster than most people outside of the large companies that recently filed for chapter 11. Currently, I am a student at the University of Tennessee and have been waiting over two months for my student loans to get dispersed. Even before anyone was talking about the possibility of this mess affecting the average college student, I was feeling it. The good news is that with the SEC changes, even before the bailout plan passed, my loans were getting squared away so I wouldn't end up homeless. Unfortunately every American is going to have to shell out over two grand for a possible temporary fix.

Related links:

Fed injects 630 billion into the financial system

Some schools have been having problems with Edamerica liquidity (I want to point out that UTK has just been cleared for disbursement for some students soon)