Bailout bill failing in House

[Dissipate]

Originally posted by: bamacre
Two years ago...
http://www.youtube.com/watch?v=LfascZSTU4o

Laffer is a MORON. LegendKiller and his cronies are outright liars and idiots.

 

[fskimospy]

Originally posted by: Wreckem

The GOP is willing to pass a bailout. Pelosi and the Dems have gone about it all the wrong way from the start.

By all means tell us how the Democrats should have gone about it.

 

[JS80]

Originally posted by: eskimospy

Originally posted by: JS80

Originally posted by: Hafen
What a bunch of bullshit. 2/3 of Republicans voted no letting this bill fail. Its was supposed to be a bipartisan effort, and instead the reps bailed on their end of the deal letting this fail and the markets crash to score political points. They thought they let the Dems just vote the thing thru and take all the political fury for passing the "wall street bailout" while they would try to claim the high road of opposing this HUGELY unpopular bill, yet comfortable the needed bill would get passed.

Now Dems come up slightly short (only 60% voted for it) and the Reps are AWOL. If only half of Reps voted for it it would have passed and both parties would be responsible for passing the hated but needed bailout. That is putting Country First, letting things go to shit for political points is Party First and that's what 2/3s of Reps and 1/3 of Dems have one.
WTF

Pelosi shits on everyone except the dems basically blames bush and R for this RIGHT BEFORE the vote on the floor you think this will pass? lulz bi-partisan my ass.

So you're saying that Republicans voted against a bill that most experts say is vital to the US economy because the Speaker of the House made them mad? If that's true, they should all lose their seats in November. Talk about petty, ridiculous bullshit. They should be ashamed of themselves.

If it were a R speaker you'd be blaming him for failure to bring bipartisan support together. I blame Pelosi for her being a wise and beautiful woman.

Now they can redo this crap without Acorn and special tax on wall st.

 

[Stuxnet]

Originally posted by: bamacre
Two years ago...
http://www.youtube.com/watch?v=LfascZSTU4o

Pretty much hit the nail on the head. Nice link :thumbsup: .

 

[Wreckem]

Originally posted by: eskimospy

Originally posted by: Ocguy31

Originally posted by: eskimospy

Originally posted by: JS80

Pelosi shits on everyone except the dems basically blames bush and R for this RIGHT BEFORE the vote on the floor you think this will pass? lulz bi-partisan my ass.

So you're saying that Republicans voted against a bill that most experts say is vital to the US economy because the Speaker of the House made them mad? If that's true, they should all lose their seats in November. Talk about petty, ridiculous bullshit. They should be ashamed of themselves.

Last time I checked, the (D) guys helped out on this one too.

What does that have to do with my post?

If they voted against it because they thought it was a bad plan that's one thing. (I think at this point that's still pretty irresponsible, but whatever) If they voted against it beacuse, as JS80 imples, that Pelosi made them sad before the vote, then they are acting like spoiled children and putting their hurt feelings ahead of what's important. That's unforgivable.

They were against the current bill to begin with because none of their little input(the House GOP) they had was ever given any thought. It took a lot of arm twisiting yesterday for them to reluctantly be for the current version. Various events overnight and in the morning, capped off by Pelosi's comments torpedoed the bill.

 

[brencat]

Originally posted by: ericlp
Good! Spend a trillion now, avoid the inevitable for what, maybe 4-6 months before it all tanks again and they want another trillion maybe two trillion bail out? Bunch of BS!

I think they made the right choice, I say get it over with and let it work itself out and break if it needs too. No use throwing cash at a broke system. Stupid...

For once, I actually agree with ericlp. Part of me is happy this thing failed, even though as a financial person I know what it could mean for our economy if credit remains frozen. But my view is if it's that shaky a foundation, just burn the fvcker down and start over. There's too much debt, and I'm not crazy about piling up another $1 - 2 trillion. Consequences be damned. It's time to have a crash and start over on a much more solid footing. Our economy can't just be based on financial engineering.

 

[Wreckem]

Originally posted by: eskimospy

Originally posted by: Wreckem

The GOP is willing to pass a bailout. Pelosi and the Dems have gone about it all the wrong way from the start.

By all means tell us how the Democrats should have gone about it.

Oh, actually try and work with the Republicans and their Blue Dogs, instead of trying to bludgeon them into submission.

 

[Delta6Echo]

Originally posted by: GTKeeper

Originally posted by: Delta6Echo
Alright. I've heard the doom-and-gloom but I think that every homeowner wants to know how this will impact their mortgage/taxes/values. Will the bail out help the housing industry or will it be much of the same?

Will the government essentially take all the bad debt (loans) and provide work-out options for homeowners who want to stay in their homes but cannot afford the mortgage?

For the common folk here is the impact:

Most will lose their houses if they had an ARM type of loan since they will not be able to refi into a fixed rate one.

For everyone else, higher taxes to pay for everything.

We've already established that ARMs are bad. I'm talking about the impact on loan modifications, loan forgiveness, short-sales, etc.

Will this bailout package help or hurt homeowners if passed?

 

[Stuxnet]

Originally posted by: eskimospy

Originally posted by: Wreckem

The GOP is willing to pass a bailout. Pelosi and the Dems have gone about it all the wrong way from the start.

By all means tell us how the Democrats should have gone about it.

Perhaps by not scolding the entire Republican party in what was supposed to be a bipartisan effort? That would have been a great start. I've said it before, but I'll say it again: the Republicans NEVER should have let that get in the way, but you really need to acknowledge Pelosi's roll in this moosefuck of a day.

[edit]

Looks like 3 other people already beat me to it.

 

[Craig234]

Originally posted by: bamacre
Two years ago...
http://www.youtube.com/watch?v=LfascZSTU4o

Man, that clip does show Peter right on. But I'd add a different view on it:

It's actually a clip between Peter and Art Laffer - of the Laffer curve, which was the basis for the Reagan propaganda on tax cutting that was discredited.

So, now we have IMO in a sense a larger referednum on the Republican/Reagan economics, as you have Art Laffer so clearly saying Peter was absolutely wrong in his predictions, saying that the economy was on such solid footing that there won't be any big problems, and even repeatedly insisting on a bet with Peter saying his 'honor' is 'on the line' on who is right.

Republicans, take a look at that clip and see who is right.

 

[StageLeft]

Worst day in the DOW's history. Canada's main index similar. Ouch.

 

[mugs]

Originally posted by: Specop 007
So what you are saying is that its ok for a politician to NOT do what his constituents want? Basically o0nce in power they can just do whatever in the hell they feel like until voted out??

That's exactly right. We elect government officials to govern, not to do our bidding. We are supposed to pick people who we feel are most qualified to do that job; people who will do what needs to be done, even if their clueless constituents don't understand why it needs to be done.

"The best argument against democracy is a five minute conversation with the average voter." - Winston Churchill

Edit: Essentially they decided that their job security is more important than your job security.

 

[Nitemare]

Originally posted by: SP33Demon
:thumbsup:Thank God that some of those Repub's are voting true to their party. :thumbsup:

kind of funny how Bush is trying to push this through against his own party's wishes. The man never met a dollar he didn't want to spend.

Could we, for the love of God, find a fiscally conservative president?

 

[Craig234]

Originally posted by: Wreckem
Pelosi and the Dems have gone about it all the wrong way from the start. The Bill was NEVER bipartisan on the House side.

The top Republican in the House said the opposite of what you said.

 

[bamacre]

Originally posted by: Craig234

Originally posted by: bamacre
Two years ago...
http://www.youtube.com/watch?v=LfascZSTU4o

Man, that clip does show Peter right on. But I'd add a different view on it:

It's actually a clip between Peter and Art Laffer - of the Laffer curve, which was the basis for the Reagan propaganda on tax cutting that was discredited.

So, now we have IMO in a sense a larger referednum on the Republican/Reagan economics, as you have Art Laffer so clearly saying Peter was absolutely wrong in his predictions, saying that the economy was on such solid footing that there won't be any big problems, and even repeatedly insisting on a bet with Peter saying his 'honor' is 'on the line' on who is right.

Republicans, take a look at that clip and see who is right.

http://www.youtube.com/watch?v=9UuivYdiS5w

 

[Craig234]

Originally posted by: JS80
Now they can redo this crap without Acorn and special tax on wall st.

I'd heard there was already no ACORN; and there should be a special tax on Wall St. That's how it's been done before a number of times that worked well.

 

[miketheidiot]

Originally posted by: Wreckem

Originally posted by: Stoneburner
Rahm Emannuel is no Tom Delay

Just let it all burn I still say.

Rahm is a son of a bitch who knows how to get shit done. Hes fourth in terms of Power. Hes the chairmen of the Cacucus. He doesnt have the power the three above him does. His job is mainly focused on policy development and election strategy. If he was Speaker I doubt this wouldve happened.

Pelosi has the bloody pulpit. Hoyer is the Whip. They are the ones to blame for the large chuck of Dems voting nay.

Rahm will be the next Speaker of the House.

amen, pelosi is/was to much of a hack to get anything meaningful done.

 

[Craig234]

Originally posted by: Skoorb
Worst day in the DOW's history.

Off the top of my head: not even close on a percentage basis.

 

[bamacre]

We can all assume how one Republican Congressman voted...
http://www.youtube.com/watch?v=ticytEUvVhQ

 

[Craig234]

Originally posted by: Wreckem
]

They were against the current bill to begin with because none of their little input(the House GOP) they had was ever given any thought.

The top Republican in the House said the opposite of your comments.

 

[Craig234]

Originally posted by: brencat

Originally posted by: ericlp
Good! Spend a trillion now, avoid the inevitable for what, maybe 4-6 months before it all tanks again and they want another trillion maybe two trillion bail out? Bunch of BS!

I think they made the right choice, I say get it over with and let it work itself out and break if it needs too. No use throwing cash at a broke system. Stupid...

For once, I actually agree with ericlp. Part of me is happy this thing failed, even though as a financial person I know what it could mean for our economy if credit remains frozen. But my view is if it's that shaky a foundation, just burn the fvcker down and start over. There's too much debt, and I'm not crazy about piling up another $1 - 2 trillion. Consequences be damned. It's time to have a crash and start over on a much more solid footing. Our economy can't just be based on financial engineering.

The question I have for you is, who is going to rebuild it and will it be rebuilt better or worse?

If we haven't solved the underlying issues of the corruption of power in this country from excessive concentrations of wealth that are now at all time highs, it can be worse.

 

[bamacre]

Fed Pumps Further $630 Billion Into Financial System

 

[JS80]

Originally posted by: Craig234

Originally posted by: JS80
Now they can redo this crap without Acorn and special tax on wall st.

I'd heard there was already no ACORN; and there should be a special tax on Wall St. That's how it's been done before a number of times that worked well.

Looks like Acorn was dropped.

Anyone have a link to the bill that went up to vote?

 

[StageLeft]

That vid bamacre posted with Laffer and Schiffer, that is just a clear cut case of uber ownage if I've ever seen one. Look at that arrogant Laffer with his condescending tone in complete disagreement. And Peter's predictions (granted, many did make them that time, it wasn't impossible to see) all bearing out exactly as stated there. Laffer = no credibility now.

 

[Wreckem]

Originally posted by: Craig234

Originally posted by: Wreckem
Pelosi and the Dems have gone about it all the wrong way from the start. The Bill was NEVER bipartisan on the House side.

The top Republican in the House said the opposite of what you said.

Politicians say a lot of things. He could call it Bi-Partisan because the GOP House Leadership supported it, but that doesnt mean it was truely bi-partisan.

It was certainly bi-partisan in defeat though. 68% of the GOP voted no. 40% of the Dems voted no.