America's Buyer's Remorse

There are a lot of theories floating around the web about why the bailout plan flopped in the House on Monday and why it simply hasn't been a slam dunk for Hank Paulson, President Bush and its other backers.

Bill Singer, a Wall Street lawyer, blogger, and jack of many trades, has a more holistic argument--that Americans may have officially become numb to solicitation of any type.

On his Broke and Broker blog, Singer rails: "You try to relax in your living room and watch a sporting event or movie on television, and every few minutes you are being bombarded with advertisements...It's on the trains and subways. It's on the taxis. It's on the billboards. It's in the mail. It is unending and unstoppable and seeks you out with unyielding persistence."

But Singer doesn't devolve into a rant. He makes a point we may have not considered.

"Perhaps this is not a failure of the White House or Treasury or even Congress to sell the American taxpayer on the inherent wisdom of the plan. Quite possibly, this deal couldn't be sold because too many just aren't buying it, and aren't buying much of anything anymore."

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