House rejects bailout bill

Nitemare

Lifer
Feb 8, 2001
35,461
4
81
Originally posted by: moshquerade
Fire them all

if they were all fired and their golden parachutes were null and void and their salaries were garnished, then I might be for the bailout.

Why should honest hardworking taxpayers have to buyout the clusterfucks of rich people who have millions in the bank laready?
 

irishScott

Lifer
Oct 10, 2006
21,562
3
0
Originally posted by: Nitemare
Originally posted by: moshquerade
Fire them all

if they were all fired and their golden parachutes were null and void and their salaries were garnished, then I might be for the bailout.

Why should honest hardworking taxpayers have to buyout the clusterfucks of rich people who have millions in the bank laready?

To avoid the next great depression?
 

SlickSnake

Diamond Member
May 29, 2007
5,235
2
0
The so-called financial companies (pyramid schemes) that made the stupid descisions need to die, not be rewarded. Their assets need to be sold or just handed over to the FEDs to liquidate them to other companies that were not trying to game the system and juggle the books for the short term investors and shareholders.

Not bailing these financial crooks out is also the best method of saving the economy from the clowns running the financial circuses that are dragging the USA down with them. These greedy firms have ruthlessly pillaged their own financial resources to the point they are left begging for a hand out from Uncle Sam and the taxpayers. They had the chance to put the brakes on over lending/spending in their firms years ago, and they obviously failed to do so.

But yet their CEOs and shareholders and investors got paid, and even obscenely so. But when you institutionalize cooking the books like this for years, and the Feds convieniently look the other way because of the powerful financial lobbies, you can bet the balloning debt will come due sooner rather than later. The taxpayers don't owe these financial thiefs one red cent to continue shady business as usual.
 

K1052

Elite Member
Aug 21, 2003
52,804
46,632
136
Originally posted by: Cstefan
Let the whole system crash.

I have no doubt in my mind that Americans got the Congress the deserved.
 

blinky8225

Senior member
Nov 23, 2004
564
0
0
Originally posted by: Nitemare
Originally posted by: moshquerade
Fire them all

if they were all fired and their golden parachutes were null and void and their salaries were garnished, then I might be for the bailout.

Why should honest hardworking taxpayers have to buyout the clusterfucks of rich people who have millions in the bank laready?

Ah, but the bill did include a provision about limiting executive pay, actually. It's pretty likely those hardworking taxpayers are going to be worst off now that this bill is rejected as well. 700 billion is a huge number, but the bill was necessary. There were some provisions that might allow taxpayers to recuperate their losses.

However, it's likely that the economy will stay intact for another two months in time for Election Day, which is all that really matters to politicians, anyway. After watching Fox News, people just saw 700 billion, and without thinking of the consequences, they wrote angry letters to their congressmen.
 

Gibson486

Lifer
Aug 9, 2000
18,378
2
0
Originally posted by: AMDZen
Who can blame them? Seriously

We are in this hole where we can only choose bad to make good. Lots of politicians do not want to accept it because a vote to do the less of two evils is a lost vote for them next term. If that means the economy will hit the gutter, then fine. They do not care. they will still get their paycheck while other suffer. So what to do? Just do what makes them look better so they can get votes next term. There are also a bunch of hidden agendas, but then there are actually politicians that are trying to do whats best.

I am not blaming the politicians, but the american people. They made the system the way it is.
 
Sep 29, 2004
18,656
68
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Originally posted by: irishScott
Originally posted by: Nitemare
Originally posted by: moshquerade
Fire them all

if they were all fired and their golden parachutes were null and void and their salaries were garnished, then I might be for the bailout.

Why should honest hardworking taxpayers have to buyout the clusterfucks of rich people who have millions in the bank laready?

To avoid the next great depression?

No bailout could freeze the credit markets, make banks tumble. It has a huge tickle down effect. You know, 1/3 of hte money that is available for FDIC insured accounts has been used leaving about $30 billion left. If enough banks fail, alot of people will have there savings entirely lost. It will take years to get that money back via FDIC insurance. As that happens, consumer spending will slow, peole will loose there jobs.

The failure of the bill has a HUGE implication on main street. People need t oread about what is going on. And this is NOT the US gov't giing $700 billion away to people. IT IS A LOAN! THE GOVERMENT IS GOING TO BE REPAID. And if you believe what Warren BUffet think, the governtment (aka: YOU) is going to make money on this bialout.