Bailout bill failing in House

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bl4ckfl4g

Diamond Member
Feb 13, 2007
3,669
0
0
Originally posted by: CADsortaGUY
Originally posted by: Drakkon
Now this isn't helpful - house republican leadership coming out and blaming the dems - namely Pelosi - for being partisan. If that is the case than it is truly a sad day in America. To let this partisan bickering ruin a solution that people had agreed on is just a pathetic and despicable. I'm going to be looking into seeing how my rep voted to make sure he acted his mind and not his party.

As opposed to Pelosi's bomb throwing on the floor this morning... :roll:

So you would let a speech that hurt your feelings change the way you vote?

Nice to know.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: Donny Baker
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.

Yes. And we deserve it.

Living on credit can only last so long.

No, "we" don't deserve it. This problem will work itself through, one way or another. One way is for us to take down banks and destroy the credit markets, plunging us into a great depression.

Another way is to put the assets to the govt, who doesn't have to mark to market, and let things work out without squeezing liquidity.
 

K1052

Elite Member
Aug 21, 2003
52,635
46,325
136
Originally posted by: ohnoes
I was listening to NPR a few months back, and they were talking about the short-term credit market (~30 days) that almost every company uses to manage cash-flow (i.e. balance A/R, A/P, payroll, expenses, etc.), and how tight/hurt that market was back then. I can't imagine the situation now.

Wouldn't surprise me if some companies can't make payroll due to more tightening of the short-term credit market.

This obviously is a lie as you can just walk into any BoA branch and get a loan with no problem.

That is if you listen some to the people here...

:roll:
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: Wreckem
Originally posted by: LegendKiller
Originally posted by: Wreckem
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

Not as bad as the dumbfvcks you want to bail out.

What's sad is that you don't even know who you are talking about (the bankers, vs the common man).

Your statement can be applied to both.

The bankers are far more culpable for this situation.

Are they?

Even if, then it is in the society's best interest to make sure this doesn't destroy the economy.

 

CADsortaGUY

Lifer
Oct 19, 2001
25,162
1
76
www.ShawCAD.com
Originally posted by: bl4ckfl4g
Originally posted by: CADsortaGUY
Originally posted by: Drakkon
Now this isn't helpful - house republican leadership coming out and blaming the dems - namely Pelosi - for being partisan. If that is the case than it is truly a sad day in America. To let this partisan bickering ruin a solution that people had agreed on is just a pathetic and despicable. I'm going to be looking into seeing how my rep voted to make sure he acted his mind and not his party.

As opposed to Pelosi's bomb throwing on the floor this morning... :roll:

So you would let a speech that hurt your feelings change the way you vote?

Nice to know.

No, I'm just responding to a post about partisan bickering. It was stupid of her to throw those bombs when she's been trying to get more Rs on board with this. As a leader, she should have known better than to kick someone in the shins when you want their support immediately after.
 

waggy

No Lifer
Dec 14, 2000
68,143
10
81
this is one of the reasons i hate politics. instead of of doing what is best for the nation they protect there jobs and fallow party line.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: loki8481
thank god for the bold leadership our presidential candidates have shown on this.
You mean the joint statement doesn't make you randy?

I'll say that during their debate, neither of them had a clue about what to do. They both said the same thing. Barack itemized four points, but in the end it was all lip service and talking points. Neither of them had anything firm.

 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: Atheus
Originally posted by: LegendKiller
Originally posted by: Atheus
The company I used to work for collapsed a couple of months ago due to credit being withdrawn - previously unsecured loans suddenly required security which did not exist. Some of us got paid and some didn't.

This was after some comparitively minor jitters in the UK economy - I'm sure many people people in the US will indeed be affected directly by this.

What's sad is that 3/4 of these people are IT geeks, or live with their parents, or are some type of libertopian fool. They don't realize how the economy works, never realizing that while the stock market is pretty, the credit market drives everything. It always has, always will.

Well I'm a geek, and a liberal, so I don't know wtf that's supposed to mean...

It means you're the exception to the rule.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: K1052
Originally posted by: ohnoes
I was listening to NPR a few months back, and they were talking about the short-term credit market (~30 days) that almost every company uses to manage cash-flow (i.e. balance A/R, A/P, payroll, expenses, etc.), and how tight/hurt that market was back then. I can't imagine the situation now.

Wouldn't surprise me if some companies can't make payroll due to more tightening of the short-term credit market.

This obviously is a lie as you can just walk into any BoA branch and get a loan with no problem.

That is if you listen some to the people here...

:roll:

Yeah, money flows free like a river from banks to cover SB loans. Nobody will ever stop giving SBs loans.
 

shiner

Lifer
Jul 18, 2000
17,112
1
0
Originally posted by: child of wonder
Looks like we better get more canned goods this coming weekend, just in case.

Already used up your supply from Y2k and them turning on the LHC?
 

bl4ckfl4g

Diamond Member
Feb 13, 2007
3,669
0
0
Originally posted by: CADsortaGUY
Originally posted by: bl4ckfl4g
Originally posted by: CADsortaGUY
Originally posted by: Drakkon
Now this isn't helpful - house republican leadership coming out and blaming the dems - namely Pelosi - for being partisan. If that is the case than it is truly a sad day in America. To let this partisan bickering ruin a solution that people had agreed on is just a pathetic and despicable. I'm going to be looking into seeing how my rep voted to make sure he acted his mind and not his party.

As opposed to Pelosi's bomb throwing on the floor this morning... :roll:

So you would let a speech that hurt your feelings change the way you vote?

Nice to know.

No, I'm just responding to a post about partisan bickering. It was stupid of her to throw those bombs when she's been trying to get more Rs on board with this. As a leader, she should have known better than to kick someone in the shins when you want their support immediately after.

I agree with that but The (R) leadership is saying their people changed their votes only because they got mad at Pelosi. That is ridiculous. It really makes them look silly..
 

brandonb

Diamond Member
Oct 17, 2006
3,731
2
0
Originally posted by: LegendKiller
Originally posted by: brandonb
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

You're economy, not mine. The people (bankers) who screwed over so many common American's with their death grips (mortgages) are now having to suck it up. Great!

LOL. Yeah, where do you think common America gets money?

Their paychecks.
 

NoStateofMind

Diamond Member
Oct 14, 2005
9,711
6
76
Originally posted by: LegendKiller
Originally posted by: PC Surgeon
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

Congress isn't responsible. Place the blame correctly.

Congress was responsible in the first place and the last.

Explain.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: brandonb
Originally posted by: LegendKiller
Originally posted by: brandonb
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

You're economy, not mine. The people (bankers) who screwed over so many common American's with their death grips (mortgages) are now having to suck it up. Great!

LOL. Yeah, where do you think common America gets money?

Their paychecks.

ROFL. This is what I am talking about.

How can we possibly survive as a country with idiots like this around?

For the intellectually challenged, where do companies get their paychecks?
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: PC Surgeon
Originally posted by: LegendKiller
Originally posted by: PC Surgeon
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

Congress isn't responsible. Place the blame correctly.

Congress was responsible in the first place and the last.

Explain.

Congress allowed this country's financial system to run rampant. Unrestrained capitalism is abusive. Those at the top will use every scheme possible to make as much money as possible. Things will catch up to them, but they'll be safe. Meanwhile the common man is hurt.

Now they failed to first, put a fix in place, second, to effectively regulate going forward.
 

Stuxnet

Diamond Member
Jun 16, 2005
8,392
1
0
Originally posted by: brandonb
Originally posted by: LegendKiller
Originally posted by: DrewSG3
For the first time I'm proud of my Congress

Because they just hurt the economy tremendously?

You're economy, not mine. The people (bankers) who screwed over so many common American's with their death grips (mortgages) are now having to suck it up. Great!

So... many... stupid... implications... must not let head... implode.
 

halik

Lifer
Oct 10, 2000
25,696
1
81
Wachovia dropped like a lead balloon, national city is down 60% today... i just sent them my paypal money. AIEEE!
 

child of wonder

Diamond Member
Aug 31, 2006
8,307
176
106
Originally posted by: shinerburke
Originally posted by: child of wonder
Looks like we better get more canned goods this coming weekend, just in case.

Already used up your supply from Y2k and them turning on the LHC?

I'm not talking about going whacko and buying a year's worth of food.

Just some extra in case my wife or myself get laid off and we have trouble finding work. I work for a bank and she works for an insurance company so our jobs can be very susceptible to the pulse of the market.
 

CADsortaGUY

Lifer
Oct 19, 2001
25,162
1
76
www.ShawCAD.com
Originally posted by: bl4ckfl4g
Originally posted by: CADsortaGUY
Originally posted by: bl4ckfl4g
Originally posted by: CADsortaGUY
Originally posted by: Drakkon
Now this isn't helpful - house republican leadership coming out and blaming the dems - namely Pelosi - for being partisan. If that is the case than it is truly a sad day in America. To let this partisan bickering ruin a solution that people had agreed on is just a pathetic and despicable. I'm going to be looking into seeing how my rep voted to make sure he acted his mind and not his party.

As opposed to Pelosi's bomb throwing on the floor this morning... :roll:

So you would let a speech that hurt your feelings change the way you vote?

Nice to know.

No, I'm just responding to a post about partisan bickering. It was stupid of her to throw those bombs when she's been trying to get more Rs on board with this. As a leader, she should have known better than to kick someone in the shins when you want their support immediately after.

I agree with that but The (R) leadership is saying their people changed their votes only because they got mad at Pelosi. That is ridiculous. It really makes them look silly..


Yeah, but the point here is that Boehner had to work these people hard to get them to come vote for it when they were likely not for it for whatever reason. Then they get to the floor ready to reluctantly vote for it and get kicked in the shins? However "silly" you think they look, Pelosi looked infinately more silly by tossing the bombs before the votes were counted.
 

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
Originally posted by: GTKeeper
Originally posted by: SP33Demon
Originally posted by: LegendKiller
Originally posted by: SP33Demon
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.

:roll: What scare tactic email did you buy into?

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?
Then those businesses can get a loan from Bank of Am, Chase, Citi, Wells, or any other bank that will be fine. What's that you say? Their credit rating sucks? Too bad.

Fool, they won't be lending. NOBODY is lending. Are you too dense to understand that? Their capital base is so depleated that they are only floating along too.
What the hell are you talking about? Since when can't a small business get a loan from any of those companies? Put up or shut up.

I think this is about the dumbest reply I have heard in quite some time.......


Let me explain in idiot terms how this works. Let's look at Wachovia for example....

They offer tons of small business loans right? right (making it easier for you here)
They also BORROW money from other financial instituations on a short term basis.... (trust me here)
The amount of money they are dolling out on a DAILY basis to PAY for these short term loans is A LOT OF MONEY

Now, this leaves them with little capital to lend to ANYONE because they themselves are so leveraged that most of their capital is spent administering their own borrowings.

Now, since the amount of new money coming into wachovia (direct deposits, loan / mortgage products etc) is not a whole lot, in fact its not even coming in fast enough to cover Wachovia's own borrowing obligations. What does that do to any spare money that they do get?

Thats RIGHT! They keep it to keep themselves AFLOAT. And how much money is left to lend to all these 'small businesses' of yours? NONE

Get it now?
Yes, I know how it works. And remind me to put you on the list of idiots who don't understand that if the banks didn't have the money to loan, they would suspend ALL loans. WTF is wrong with people who think every bank in every state in this country has run out of capital??

Wow, I can apply for a loan, but they ran out of capital! Come talk to me when a bank like Wells or BoA or Citi have suspended their loans for small business. Until then, stfu about how capital works, how banks have all run out of money, and how we're not going to get paid tomorrow. K?

 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: LegendKiller
Originally posted by: Atheus
Originally posted by: LegendKiller
Originally posted by: Atheus
The company I used to work for collapsed a couple of months ago due to credit being withdrawn - previously unsecured loans suddenly required security which did not exist. Some of us got paid and some didn't.

This was after some comparitively minor jitters in the UK economy - I'm sure many people people in the US will indeed be affected directly by this.

What's sad is that 3/4 of these people are IT geeks, or live with their parents, or are some type of libertopian fool. They don't realize how the economy works, never realizing that while the stock market is pretty, the credit market drives everything. It always has, always will.

Well I'm a geek, and a liberal, so I don't know wtf that's supposed to mean...

It means you're the exception to the rule.

I think generalizing 'geek' to one party is like generalizing the US to one party.

You do know geek capitol is Silicon Valley, in the liberal SF bay area, and that other tech areas are often oases (plural of oasis?) of blue, like Austin in Texas?

But there are many techies who have an immature political view, the 'Ayn Rand' hate the poor sort of approach. Both cultures are there.