These past few days may help redefine the number “lucky seven.”
Seven hundred point drop in the Dow. Seven hundred billion and counting on a bailout.
Who’s a winner and loser?
I suggest that the tsunami of opposition to the bailout which led to its first failure shows the limits of “fear” as a brand element.
Paulson, B
ernanke, and a host of others last week pushed the bailout based on fear. Vote for this or we end up deep in Dante’s inferno.
Vote here. Vote now. Or lose all hope.
A lot of people out there appeared to say … “screw you.”
It appears that Americans are tired of fear. They have labored under it for so long. It worked post 9/11 on a host of issues — from the Iraq invasion to the Patriot Bill.
At some point, people get tired of running scared … even when they should.
The Congress looked at the financial abyss, looked at the bailout, and many of them said “enough!” Being afraid is simply not enough. I’ve got other emotions to satisfy (namely revenge and disgust).
People don’t mind being scared if it is the occasional roller coaster or Halloween movie. In fact, they really enjoy it.
You just don’t want to have to live in it.