Thursday, October 02, 2008

Why the Wall Street Bailout Bill failed

I am posting this not knowing the final outcome of the "rescue plan" or "bailout bill" as it was initially called.  Will it finally pass? Probably, but that is not what this article is about.

This article is about "Why the Wall Street Bailout Bill" failed, as my title states. As we know the House of Representatives did not pass the first draft of the bill. The controversy of John McCain coming back to Washington or the Democrats trying to embarrasses McCain really is neither here nor there of why it failed the first time. Speaker of the House Nancy Pelosi has even been criticized by bringing the thing to vote when there was no confirmation of enough votes. Still doesn't matter.

No, I it goes back to basic marketing. The bill was dubbed the "Wall Street Bailout Bill". How it got this name I don't know nor care but the American people heard this and went ballistic.

When mainstreet America hears Washington is going to "bailout" Wall Street to the tune of $700 billion, hell yeah they are going to raise cane. Yes, it's more complicated than that, but the average guy on the street remembers; "$700 billion","Wall Street","bailout".

Now of course, the bill has a much lighter tone, "rescue plan",  and is a little better received but I still think much of mainstreet is going to feel like this bill was shoved down their throat.

So to the guys in Washington. Before you try to sell something to the American people do a little bit of marketing beforehand. Even if you didn't come up with the term "Bailout Wall Street" make sure you have a user-friendly name and marketing plan before going public.

Geeeez the "Wall Street Bail Out Plan". Why not call it "stick the American people for $2300 plan" or "Hell, let your kids pay for it plan" or better yet "Let's help the crooks on Wall Street plan".

Ohhhh please comment!

later - jag


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