700 Billion Bailout Plan Fails

[bush_cheney2004]

So they break for a Jewish holiday eventhough there is a crisis at hand? Nice to see they are taking this crisis seriously.

Why does it matter if it is a "Jewish holiday".....careful...your slip is showing. They voted on the "crisis"....and the bill needs to be reworked....no big deal except for the Chicken Littles.

[BC_chick]

Why does it matter if it is a "Jewish holiday".....careful...your slip is showing. They voted on the "crisis"....and the bill needs to be reworked....no big deal except for the Chicken Littles.

Oh Jeez, people can't say the word Jewish without being anti-semitic these days. I guess the anchors at CNN are all anti-semitic too, seeing how they were just as bewildered as Gost (and I for that fact) that the non-Jewish members of Congress would also be taking this time off instead of "reworking" the bill.

It's not like it's a little bump on the road or anything, this is affecting the global economy...

Edited September 30, 2008 by BC_chick

[bush_cheney2004]

Oh Jeez, people can't say the word Jewish without being anti-semitic these days. I guess the anchors at CNN are all anti-semitic too, seeing how they were just as bewildered as Gost (and I for that fact) that the non-Jewish members of Congress would also be taking this time off instead of "reworking" the bill.

Sorry, but dems the rules. Congress will not be stampeded into passing a bad bill. This is "politics", y'know.

It's not like it's a little bump on the road or anything, this is affecting the global economy...

Too bad....people like me (who just happen to be paying the freight), do not want to protect Wall Street, just the banking system. Only bailout at true market value, and let the chips fall on this Ponzi scheme.

Isn't it exciting?

[kengs333]

Please do...she is now an American citizen.

good bye, good ridance.

[kengs333]

Why does it matter if it is a "Jewish holiday".....careful...your slip is showing. They voted on the "crisis"....and the bill needs to be reworked....no big deal except for the Chicken Littles.

Would they break for Christmas in a crisis like this? Probably not.

My guess is that a lot of people are spending this little break carefully playing the markets and making bundle of money in the process. Some stocks have doubled and tripled this morning.

[BC_chick]

Sorry, but dems the rules. Congress will not be stampeded into passing a bad bill. This is "politics", y'know.

It's "politics" that non-Jewish and Jewish members alike shut down for a Jewish holiday?

Too bad....people like me (who just happen to be paying the freight), do not want to protect Wall Street, just the banking system. Only bailout at true market value, and let the chips fall on this Ponzi scheme.

Isn't it exciting?

I don't remember taking a position on the bailout.

I just said Gost's post is not anti-semitic (as you imply) given that many people, including the anchors at CNN are questioning why non-Jewish members of Congress are taking time for a Jewish holiday in the middle of a financial crisis.

I mean, you yourself admit that the bill needs "reworking"... no?

[kengs333]

Oh Jeez, people can't say the word Jewish without being anti-semitic these days. I guess the anchors at CNN are all anti-semitic too, seeing how they were just as bewildered as Gost (and I for that fact) that the non-Jewish members of Congress would also be taking this time off instead of "reworking" the bill.

It's not like it's a little bump on the road or anything, this is affecting the global economy...

well, whatever the case, I would think that this now excludes you from ever running as a candidate in an election.

[BC_chick]

well, whatever the case, I would think that this now excludes you from ever running as a candidate in an election.

Well there goes... um, nothing really.

[Shady]

It was Government that created the current economic crisis. We can't afford anymore of the unintended consequences of their "good intentions". Disband Freddie Mac and Fannie Mae.

Oh, and the Dow looks up by 300 today.

[bush_cheney2004]

It's "politics" that non-Jewish and Jewish members alike shut down for a Jewish holiday?

Yes....the House is up for re-election, and the members have some serious politicking to do in addition to bailing out Wall Street. If certain members are gone (e.g. "Jewish"), then some work would grind to a halt anyway (chairs, committees, floor activity, etc.)

I don't remember taking a position on the bailout.

Then why did you comment on its "global" ramifications?

I just said Gost's post is not anti-semitic (as you imply) given that many people, including the anchors at CNN are questioning why non-Jewish members of Congress are taking time for a Jewish holiday in the middle of a financial crisis.

Because they can.....not all of them are doing so.

I mean, you yourself admit that the bill needs "reworking"... no?

Yes..that would be the "HELL NO!" part.

Edited September 30, 2008 by bush_cheney2004

[gc1765]

The "other party" (majority) also had 95 votes against a bad bill, one that Americans do not like in its present form. The house members have been getting pounded on the phones and with email....VOTE NO!

If it's a "bad bill", why didn't they just come out and say so? Why did they blame it on Pelosi's speech?

[Shady]

If it's a "bad bill", why didn't they just come out and say so? Why did they blame it on Pelosi's speech?

Because she deserved it. She's an absolute disaster as SOTH. And just imagine, she's third in line to be President.

[gc1765]

Because she deserved it. She's an absolute disaster as SOTH. And just imagine, she's third in line to be President.

So, you're saying that Republicans voted against the bill because they don't like Pelosi as Speaker? And you're actually defending their actions? Wow.

[bush_cheney2004]

If it's a "bad bill", why didn't they just come out and say so? Why did they blame it on Pelosi's speech?

They did say so, but after Pelosi's vitriol, many refused to hold their nose and vote YES. I mean c'mon....you she wanted to kick 'em in the nuts while they committed political suicide at the same time?

Edited September 30, 2008 by bush_cheney2004

[Topaz]

When GW first became Prez, he had a Republican congress and now he has a Dem. congress, they are ALL to blame plus Wall Street. There's enough blame to go around.

[gc1765]

Even Fox News agrees with me...

"If any House Republicans actually changed their votes on the bailout bill because Nancy Pelosi gave an ugly partisan speech, then they don’t deserve to be reelected. You could oppose the bill because you think it’s a lousy bill and you hope that it can be renegotiated and improved. But no Representative in this financial crisis should change a vote because Pelosi pulled her usual partisan shtick to blame this entire crisis on the Republicans. The markets are melting down and you’re voting no because you’re mad at Pelosi?"

link

[PoliticalCitizen]

They did say so, but after Pelosi's vitriol, many refused to hold their nose and vote YES. I mean c'mon....you want to kick 'em in the nuts while they commit political suicide?

So as a result of the kick in the nuts they've only commited political suicide half-way.

I guess it was good for them then, kept them alive

BTW, BC, isn't it time you change your nick to McCain_Palin2008?

Edited September 30, 2008 by PoliticalCitizen

[bush_cheney2004]

So as a result of the kick in the nuts they've only commited political suicide half-way.

I guess it was good for them then, kept them alive

Ya think?

BTW, BC, isn't it time you change your nick to McCain_Palin2008?

Nope...nothing beats the afterglow of all those dumbfounded voices from around the world in 2004. And remember...we still have one Bush left to go.

[jdobbin]

So, you're saying that Republicans voted against the bill because they don't like Pelosi as Speaker? And you're actually defending their actions? Wow.

It is just a Republican talking point to deflect attention from their own involvement.

[GostHacked]

Ya think?

Nope...nothing beats the afterglow of all those dumbfounded voices from around the world in 2004. And remember...we still have one Bush left to go.

Nah, keep the name, in a few more months you will become obsolete. Unless there is another crisis.

[BubberMiley]

I completely agree that this was a "bad bill," and find it refreshing to see that even the die-hard Bush supporters have lost faith in his ability to lead, and won't give him the benefit of the doubt this time when he tries to hold the country hostage to get his way.

[Radsickle]

Looks like Americans are shaking off the fear-mongering control that Karl Rove inflicted on them for years. Bush and McCain keep warning of doom and gloom while the rest of America wakes up from their bullcrap.

[moderateamericain]

Look were not going into a depression. This is the economy fixing itself because people livining on 30 thousands a year were getting loans on 170 thousand dollar homes. DER? If you followed the Financial market over the last few days.. Yeah we had a fallout but we also had the biggest gain ever in a single day. Here is a little secret Movement of the Idex is a good thing. It provides opportunity to Buy and when times are good an opportunity to sell high. Its called the market fixing itself. So top panicing. The politicians are doing the only thing politicians know how to do. Throw money at a problem and see if it fixes itself.

[bush_cheney2004]

Look were not going into a depression. This is the economy fixing itself because people livining on 30 thousands a year were getting loans on 170 thousand dollar homes. DER? If you followed the Financial market over the last few days.. Yeah we had a fallout but we also had the biggest gain ever in a single day. Here is a little secret Movement of the Idex is a good thing. It provides opportunity to Buy and when times are good an opportunity to sell high. Its called the market fixing itself. So top panicing. The politicians are doing the only thing politicians know how to do. Throw money at a problem and see if it fixes itself.

Good post....let the Chicken Littles run around while I do some serious bargain shopping.

"Hey Buddy...can you spare a dime......"

[Pliny]

Look were not going into a depression. This is the economy fixing itself because people livining on 30 thousands a year were getting loans on 170 thousand dollar homes. DER? If you followed the Financial market over the last few days.. Yeah we had a fallout but we also had the biggest gain ever in a single day. Here is a little secret Movement of the Idex is a good thing. It provides opportunity to Buy and when times are good an opportunity to sell high. Its called the market fixing itself. So top panicing. The politicians are doing the only thing politicians know how to do. Throw money at a problem and see if it fixes itself.

I agree politicians are doing the only thing they know how to do. Unfortunately, as the market tries to correct itself the government tries to keep it from doing so. They bailed out AIG to the tune of 100 Billion dollars already just a short while ago. They will only be delaying and deepening the the crisis they have created by bailing out what shouldn't be bailed out.

I listen to financial advisers in the media all calling for the bailout to be passed as though they have totally forgotten some of the fundamentals of economics they so ebulliently spout when things are going their way.

Financial advisers are monetarist in nature. They are money managers. They do not want to lose money for their clients so they want the bailout. They are predicting doom and gloom for the man on the street if it doesn't occur.

They are attempting to convince politicians and the general public that it is the only rational course of action.

It will certainly save their skins - temporarily.

Injecting another 700 billion into the economy backed by nothing is asking for trouble. The basic economic problem was credit expansion in the first place. So the solution is to extend more credit to the financial sector? A recipe for future disaster.

A bailout is a temporary patch in an economic storm that will not last the storm. this patch will not make the storm go away and make everything better. The ship must find harbor in dry dock and some real repairs need to be made.

Unless I have read it wrong the bailout will occur and the economy will continue to founder... on the sunny side if it doesn't occur there will be more opportunity for bargains...B-C!

Edited October 2, 2008 by Pliny