Bailout bill failing in House

[JS80]

lol why the fuck is congress adjourning

 

[theeedude]

Originally posted by: JS80
lol why the fuck is congress adjourning

Rosh Hashanah, so of course the Jews are going to get blamed for the crisis

 

[Wreckem]

Originally posted by: senseamp

Originally posted by: JS80
lol why the fuck is congress adjourning

Rosh Hashanah, so of course the Jews are going to get blamed for the crisis

The Senate is NOT Adjourning. Only the House is.

Most Reps will be leaving DC for pre-planned campaign events as the House was originally supposed to adjourn today for election season.

 

[GodlessAstronomer]

Originally posted by: GTKeeper
If this bill fails. Expect the Down to be in the 7500-8000 range. EPIC FAIL by our worthless government. To be clear, if the bailout never materializes.

Get a fucking grip.

 

[freegeeks]

Originally posted by: ElFenix

Originally posted by: Glavinsolo
how those in power during the great depression got out of it.

by bombing the crap out of the rest of the industrialized world.

LOL good one :thumbsup:

 

[sactoking]

At a quick glance, today wasn't too bad. Oil was down AND the dollar was up over a penny against the Euro. The Wall-streeters always get their panties in a bunch over the smallest thing. I learned long ago that the Dow was a terrible indicator of the economy in general. Down 778 today, so what? It wouldn't surprise me if at least one of the next 5 trading days saw gains of more than 400.

BTW- what the h happened to the 'safeguards' that were supposed to shut down trading if/when the market went into nosedive?

 

[Pliablemoose]

Originally posted by: GodlessAstronomer

Originally posted by: GTKeeper
If this bill fails. Expect the Down to be in the 7500-8000 range. EPIC FAIL by our worthless government. To be clear, if the bailout never materializes.

Get a fucking grip.

Um, he's about right, we're looking at about a 3K drop in the Dow industrial average.

Last week was the time to sell, and sit on your cash, or buy gold or bonds.

I'm proud as hell of our congress, they took away Wall Street's credit card.

 

[JS80]

Originally posted by: senseamp

Originally posted by: JS80
lol why the fuck is congress adjourning

Rosh Hashanah, so of course the Jews are going to get blamed for the crisis

lulz I can see the Jewish conspiracy theories now - Jews told House to vote it down, knowing they would adjourn for Rosh Hashanah, 2 more days of discounting stock prices, where they can swoop in and buy on the cheap! Brilliant! Buy Goldman Sachs!

 

[Dissipate]

Originally posted by: sactoking
At a quick glance, today wasn't too bad. Oil was down AND the dollar was up over a penny against the Euro. The Wall-streeters always get their panties in a bunch over the smallest thing. I learned long ago that the Dow was a terrible indicator of the economy in general. Down 778 today, so what? It wouldn't surprise me if at least one of the next 5 trading days saw gains of more than 400.

BTW- what the h happened to the 'safeguards' that were supposed to shut down trading if/when the market went into nosedive?

Hey, don't look at the DOW, look at unemployment, durable goods & inflation. Any gains now will be relatively short lived because even if the bailout passes, the economy has long term underlying systemic problems that will continue to plague the markets.

Shutting down the markets would be a short lived solution as well.

 

[BoberFett]

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...

Exactly. The outrageously overpriced real estate market which moved all of our capital from useful things (like the business expansion and day to day financing that several in this thread keep pointing to) into questionable mortgages.

This bailout will simply prop up home prices which is what got us into this mess in the first place. The market is still going to run out of cash after this 700B has been burned through and they're going to be back at the trough asking for more within a year.

This bailout is a bandaid on a gaping head wound. The more we prolong this, the worse the inevitable crash is going to be.

 

[sactoking]

Originally posted by: Dissipate

Originally posted by: sactoking
At a quick glance, today wasn't too bad. Oil was down AND the dollar was up over a penny against the Euro. The Wall-streeters always get their panties in a bunch over the smallest thing. I learned long ago that the Dow was a terrible indicator of the economy in general. Down 778 today, so what? It wouldn't surprise me if at least one of the next 5 trading days saw gains of more than 400.

BTW- what the h happened to the 'safeguards' that were supposed to shut down trading if/when the market went into nosedive?

Hey, don't look at the DOW, look at unemployment, durable goods & inflation. Any gains now will be relatively short lived because even if the bailout passes, the economy has long term underlying systemic problems that will continue to plague the markets.

Shutting down the markets would be a short lived solution as well.

Possibly, I don't know, I haven't done any research. But, I do know that the market conditions were being thrown around on here as an indicator, and I DO know that's b.s.

My question regarding the safeguards wasn't meant in a 'WHY DIDN'T THEY SAVE US?!?' but more like, 'Hey, they exist, where the hell were they?' Most likely the traders would have been forced into timeout like a petulant child (which they are) for an hour, then let out of restriction to continue their spiral, just like all spoiled brats do.

 

[nageov3t]

weird.

the congressman in NJ who leads Hudson County, in the shadow of NYC and where a lot of Wall St. workers live, voted against it.

my republican congressman (yes, there is a republican part of NJ) voted for it, though.

 

[mooseracing]

Good, I hope this bailout fails. Stupid ass CEO's can finally bite the dust and maybe they will learn something of it.

 

[TheSlamma]

Originally posted by: Dari

Originally posted by: Insomniator

Originally posted by: TheSlamma

Originally posted by: compuwiz1
I agree with Jeffrey Miron's view.

I've been saying all along don't bail them out. Why should the government provide funds to incompetent people who couldn't run these institutions properly to begin with? A bailout is not going to solve the problem. In the spirit of tough love, I hope the bailout does not pass.

:thumbsup:

this

The simple fact that banks will become extremely conservative in lending after they go into bankruptcy blows his argument out of the water.

Conservative or Competent?

 

[SP33Demon]

Originally posted by: GodlessAstronomer

Originally posted by: GTKeeper
If this bill fails. Expect the Down to be in the 7500-8000 range. EPIC FAIL by our worthless government. To be clear, if the bailout never materializes.

Get a fucking grip.

Agreed, more baseless drivel from the fanatics who don't understand how the economy works. 7500-8000 rofl! What's next, 30% unemployment?

 

[bamacre]

Originally posted by: freegeeks

Originally posted by: ElFenix

Originally posted by: Glavinsolo
how those in power during the great depression got out of it.

by bombing the crap out of the rest of the industrialized world.

LOL good one :thumbsup:

Not really.

Good listen...
http://www.lewrockwell.com/pod...od_for_the_economy.mp3

 

[BoberFett]

Originally posted by: Craig234

Originally posted by: Wreckem

Originally posted by: Brainonska511
Roll Call for the House vote: http://clerk.house.gov/evs/2008/roll674.xml

Im suprised at some of the Dems voting no...

Of course you are, because the only thing you know about the dems generally are the straw men you have.

If a little old lady fell down in the street and a dem stopped to help. you would probably be surprised they didn't grab her purse, start to run, go back and kick her, then run.

No, a Republican would go back to kick her. A Democrat would say they're sorry and run off with the purse anyway.

 

[BoberFett]

Originally posted by: bamacre

Originally posted by: compuwiz1
I agree with Jeffrey Miron's view.

I've been saying all along don't bail them out. Why should the government provide funds to incompetent people who couldn't run these institutions properly to begin with? A bailout is not going to solve the problem. In the spirit of tough love, I hope the bailout does not pass. No further enabling necessary. :roll:

Thanks for the link. :thumbsup:

Abso-fucking-lutely.

A bailout is the worst of all possible options in a sea of terrible options.

 

[smack Down]

Way to go republicans. About time some one stood up to the president and paulson and told them no. It is a shame that democrats refused to do it.

 

[Thump553]

My state treasurer was on the radio tonight and said the state's latest auction of bonds failed because of the credit crunch. If a state with a fine credit rating cannot raise money we have a severe problem. There was an extremely poor selling job done on this plan so that the vast majority of people think all it will do is allow the fat cat CEOs to continue to live the lives of the rich and famous.

 

[Vic]

I hope none of you were hoping on closing on a home tomorrow because your loan just fell through.

 

[smack Down]

Originally posted by: Vic
I hope none of you were hoping on closing on a home tomorrow because your loan just fell through.

Wonder how many thousands of dollars such an event would save them. Of course I have a felling you care more about the lost commissions then the home buyers.

 

[Pliablemoose]

Originally posted by: Vic
I hope none of you were hoping on closing on a home tomorrow because your loan just fell through.

Yep, the world just ended...

Teh humanity.

The market seeks equilibrium, we're not there yet. The whole system needs to deleverage.

Look for another 500 point drop tomorrow. We're gonna scrub off about 3K points.

 

[Engineer]

Originally posted by: smack Down

Originally posted by: Vic
I hope none of you were hoping on closing on a home tomorrow because your loan just fell through.

Wonder how many thousands of dollars such an event would save them. Of course I have a felling you care more about the lost commissions then the home buyers.

WTF? Come on man.....

*shakes head at this thread and slips out the back door*

 

[StinkyPinky]

The Large Hardon Collider strikes again.