742drvr

How is it going to bust our business! Freight dawgs that is! The freight still gotta move right? Hope so! Just wondering what all think?

iarapilot

It will certainly have a negative effect. The question is, will it be a long term one, or short term. At least one Congressman knows what the problem is, but nobody listens to him.....yet.

⌐ AV8OR WANNABE

Freight dawgs can only haul cargo when businesses have money to pay for their shipments. In the next few weeks/months we'll know if the credit crunch has truly frozen businesses' lines of credit - if so no one will be safe.

We'll all survive of course but many layoffs/bankruptcies will follow...

ictflyer23

Which one would that be?

Jetjok

It doesn't matter which one that would be, because it'll take a majority of both houses to get this done. As well, there's virtually no one in these United States, and possibly the world, who will not be affected by the outcome of this event. It's already happening, and regardless of if measures are passed or not, it will be a long haul to dig out of this mess. Many companies, both large and small will suffer tremendously, with a large number of them not surviving.

iarapilot

He would be a 10 term Congressman from TX. And, for those of you who might laugh.....well, go ahead. As far as it taking a majority, true I suppose. But, it was shot down by ordinary people calling and emailing their Reps and saying no friggin way. Kinda like we should have had happen with the LOA! I would say that it will be a hard fall. The question is, will it be fairly short one, or long and drawn out. Just my opinion of course.

wldplt

The "credit crunch" is a direct result of the proposed bailout. Banks are waiting to see what the govt will provide instead of lending money. You can trace the credit freeze to the day that the bailout was first proposed. Just another example of unintended consequences.

Led Zep

First, I think uncertainty is playing more havoc than anything else. And that uncertainty is simply waiting on an answer from Congress. Whether it is a yea or a nay, the market will have a better idea of the kind of playing field it is on. When that is established then we'll some more stability on Wall Street and thus in the markets.

Second, freight still has to move. The current state of the financial climate has not and will not shut down commerce and free trade. In fact, while some businesses will be affected more than others, many will continue to operate as business as usual - and that includes sending and receiving merchandise/goods/documents, etc.

Third, when the economy slows down people and businesses tend to do more buying and selling over the internet. Plus, businesses tend not to keep large inventories of goods, but rather ship as needed using a just-in-time model. That coupled with the internet tells me that the impact of this crisis will not be felt as severe in the cargo/logistics industries as it may be in other types of industries.

kersplatt

I agree, that Texan in the House of Representatives is very smart when it comes to the economy. It is a scary day when our economy relies on a bunch of politicians that are good at campaigning but know nothing about economics. I wonder how many of the Senators or members of The House have any business experience or any formal education in economics.

I just wonder where they came up with $770 billion??? Why can't it be $250 billion for now and then take more time to make a solid plan for the next year. Everyone is being pressured to act fast rather than make a solid plan. Not to mention, where is the accountability for the lenders that gave all of these bad loans out? And the CEOs that cooked the books to get $25 million bonuses when they were running in the red.

Busboy

I think it is going to pass 68% - 32%. Once everyone has a chance to change their vote.