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Bailout bill failing in House

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Its not dead yet, the bill can be resubmitted, the house republicans will vote aye when they given protection under the endangered species act.
 
Originally posted by: Thump553
Originally posted by: NaughtyGeek
Originally posted by: halik
hello unemployment...
Click to expand...

lmfao

Obviously you've bought into the "we're all gonna die" propaganda. The most effective tool in all of history for getting large populations to agree to immensely stupid policies/ideas is fear. Apparently it's working on you.
Click to expand...

I think your laugh is going to come back to haunt you. The national and international credit markets are locking up. This isn't a matter of losing a few bucks on your Bank of America stock.

The real issue is whether we count today as a trigger to a recession or a depression.
Click to expand...

I tend to think the real issue is whether today is the trigger or if a bailout simply delays the trigger.
 
Originally posted by: Thump553
Originally posted by: NaughtyGeek
Originally posted by: halik
hello unemployment...
Click to expand...

lmfao

Obviously you've bought into the "we're all gonna die" propaganda. The most effective tool in all of history for getting large populations to agree to immensely stupid policies/ideas is fear. Apparently it's working on you.
Click to expand...

I think your laugh is going to come back to haunt you. The national and international credit markets are locking up. This isn't a matter of losing a few bucks on your Bank of America stock.

The real issue is whether we count today as a trigger to a recession or a depression.
Click to expand...

No shit there is nothing to laugh about in this situation. This situation has the potential to send us into a sprial downward like post 29. It took us 15 years and a world war to recover from that. Russia and China turning fascist reminds of of another time. I have always shrugged off most of this stuff but the idea our banking industry crumbling sends shivers down my back and a rotting feeling in my stomach.
 
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.
 
I hope ever fucker who called a senator to kill this, loses their job, their families lose their house, and they can't get a loan.

Only then, will they understand. This is what we get when we allow ignorant fucks to remain so.
 
Originally posted by: Thump553
Originally posted by: NaughtyGeek
Originally posted by: halik
hello unemployment...
Click to expand...

lmfao

Obviously you've bought into the "we're all gonna die" propaganda. The most effective tool in all of history for getting large populations to agree to immensely stupid policies/ideas is fear. Apparently it's working on you.
Click to expand...

I think your laugh is going to come back to haunt you. The national and international credit markets are locking up. This isn't a matter of losing a few bucks on your Bank of America stock.

The real issue is whether we count today as a trigger to a recession or a depression.
Click to expand...
Actually, I invested in Wells.

Funny how nobody on this forum can explain why that company, the 3rd largest in the nation, is trading at an all time high. But the unemployment rate is going to 20% everyone! RUN! :roll:

 
As bad as it looks right now, I think we need to remember that even at the beginning of the month, there was a lot of talk about forced redemptions / margin calls by hedge funds and mutual funds that was supposed to continue throughout the month of September.

Black Wednesday has accelerated that, but at least for the stock market, it is probably part of a healthy catharsis / continued capitulation.

We probably won't know where the market really stands on the bailout and probably it's take on the long term outlook on economy till maybe after first week of October when all of the forced selling is presumably done...

 
Originally posted by: K1052
Just when I think Congress can't be any more worthless they manage to surprise me.
Click to expand...

They don't ever seem to have trouble voting raises for themselves though! 🙂
 
Originally posted by: CADsortaGUY
Originally posted by: OptimisTech
Oh, and for those of you on monthly pay cycles, there is a REAL chance you will not get a check tomorrow.
Click to expand...

:roll: What scare tactic email did you buy into?
Click to expand...

Read a book. 90% of businesses use short-term loans to meet payroll every month. If the credit markets seize (which they almost surely will now.) they won't be getting those loans. If you were lucky enough to have payroll processed already, you'll get paid. If not, be ready. Did you really think you were invulnerable to this and you could ignore it?
 
Originally posted by: K1052
Just when I think Congress can't be any more worthless they manage to surprise me.
Click to expand...

All this bill does is delay the inevitable. Pushes the problem to younger generations.

We cannot solve the proble by printing and borrowing more money.
 
Originally posted by: LegendKiller
I hope ever fucker who called a senator to kill this, loses their job, their families lose their house, and they can't get a loan.

Only then, will they understand. This is what we get when we allow ignorant fucks to remain so.
Click to expand...

LK,

I think the problem is that people don't understand what this bailout is all about. I think Paulson needs get up there and say.... if you want to avoid the great depression and a MASSIVE contraction of our economy, let this bill fail.

Peple don't realize how much an economy is dependent on credit!!!!!!!!!!!! If the credit goes 'poof' good luck in letting any industry thrive or grow.

No credit = ....
company failures
massive layoffs
massive unemployement
 
Originally posted by: NaughtyGeek
Originally posted by: halik
hello unemployment...
Click to expand...

lmfao

Obviously you've bought into the "we're all gonna die" propaganda. The most effective tool in all of history for getting large populations to agree to immensely stupid policies/ideas is fear. Apparently it's working on you.
Click to expand...

Nah, if you work in banking or finance, this vote pretty much really is your pink slip (that is, if you haven't already gotten yours as part of the many banking failures thus far this year).

The rest of you will be getting your pink slips next year.
 
Originally posted by: OptimisTech
Originally posted by: CADsortaGUY
Originally posted by: OptimisTech
Oh, and for those of you on monthly pay cycles, there is a REAL chance you will not get a check tomorrow.
Click to expand...

:roll: What scare tactic email did you buy into?
Click to expand...

Read a book. 90% of businesses use short-term loans to meet payroll every month. If the credit markets seize (which they almost surely will now.) they won't be getting those loans. If you were luck enough to have payroll processed already, you'll get paid. If not, be ready. Did you really think you were invulnerable to this and you could ignore it?
Click to expand...

So again, what scare tactic email did you buy into?

Just because the lending has tightened and will likely tighten again does not mean you will not get paid or that there will be no lending. Stupid fear mongers...
 
Originally posted by: Ocguy31
We are watching history here folks....
Click to expand...

We are watching history repeat itself. 1929 all over again. Pull liquidity during time of crisis and watch systemic failure. Unbelievable.
 
Originally posted by: OptimisTech
Originally posted by: CADsortaGUY
Originally posted by: OptimisTech
Oh, and for those of you on monthly pay cycles, there is a REAL chance you will not get a check tomorrow.
Click to expand...

:roll: What scare tactic email did you buy into?
Click to expand...

Read a book. 90% of businesses use short-term loans to meet payroll every month. If the credit markets seize (which they almost surely will now.) they won't be getting those loans. If you were lucky enough to have payroll processed already, you'll get paid. If not, be ready. Did you really think you were invulnerable to this and you could ignore it?
Click to expand...

Fortunately I work for the State of Texas.
 
WTF is going on. It looks like they are voting to vote again on the bill... or is this another vote on the bill?

ON MOTION TO SUSPEND THE BILL AND PASS
Democrats: Yea - 203 | Nay - 0 | Pres - 0 | NV - 21
Republican: Yea - 160 | Nay - 6 | Pres - 0 | NV - 29
TOTALS: Yea - 373 | Nay - 6 | NV - 55


EDIT: I had to walk away from my desk. Looks like it was something different.
 
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