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WHERE’S MAIN STREET?….Matt asks a question:

Here’s what I don’t understand about either the politics or the policy of the bailout failure. If the situation is as dire as Kevin Drum says then where’s corporate America? That swathe of American business that isn’t in the finance and housing sectors. ExxonMobil, Wal-Mart, Proctor & Gamble, Johnson & Johnson, Microsoft, Google, Chevron, etc.

Actually, I’ve been wondering the same thing. Here are two guesses.

First, these guys all thought the bill was going to pass. Sure, there’d be lots of grandstanding and high drama, but in the end they figured everyone would act like adults and understand that allocating money to buy a fire hose is a good idea when the economy is on fire. So there wasn’t a big sense of urgency.

Second, they might have been sensitive to the possibility that their support would just make things worse. Saving “Main Street,” to most Americans, means the dry cleaners down the street, not ExxonMobil. They’re mad enough already about bailing out Wall Street, and if they thought they were bailing out ExxonMobil too — well, that might just be the last straw.

Anyway, those are just guesses. But I’ll bet there’s way more business lobbying going on behind the scenes today than there was last week. That might make the difference if the House takes up the bill again on Wednesday.

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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