The Bailout Bill Just Failed - Not Passed
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Pelosi's speech was retarded. So was voting down a bill because of a speech. Everyone in Congress is an idiot.Comment
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http://news.yahoo.com/s/ap/financial_meltdown
We needed this... Stimulation is what we needed, and even economists like Buffet said we need it. Down goes the market, and we're heading towards depression. We were already, but still...The poor get poorer.Comment
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I sincerely doubt her speech made a lick of difference and only provided some disingenuous cover for voting against the bill they wanted to vote against anyway.-uno
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http://news.yahoo.com/s/ap/financial_meltdown
We needed this... Stimulation is what we needed, and even economists like Buffet said we need it. Down goes the market, and we're heading towards depression. We were already, but still...The poor get poorer.
Sherm, I'm a financial dumbass, but if we need stimulation, wouldn't dividing that $700 million up between Americans do a much better job of it?~
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selena.delgado9Comment
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"Ample no votes came from both the Democratic and Republican sides of the aisle. More than two-thirds of Republicans and 40 percent of Democrats opposed the bill."No doubt one may quote history to support any cause, as the devil quotes scripture.
-- Learned Hand
http://www.bjpenn.comComment
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i think your predicament would be a soft landing, i think the carnage will go much worse, possible with many people taking up to 50% "adjustments" on their 401k retirement savings."Obscenity is whatever gives the Judge an erection." -- Author UnknownComment
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Giving the money to the people doesn't help the banks afford more loans and very few people have the ability to purchase houses and cars and pay tuition with cash, even if they were given their "portion" of the bailout.Comment
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This whole thing sucks.
There are no good choices, only bad choices and worse choices.
226 members of the House made the worse choice today.
If this weren't an election year the bill would have passed 430 to 5 in the house and 97 to 3 in the Senate......but, as usual, they're only worried about saving their own necks and not ours.sig too bigComment
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Let the banks fail, all them motherfuckers should have paid their mortgages on time. They deserve to be homeless.
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http://www.survivalblog.comComment
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Minority Leader John Boehner calls the financial rescue deal a ?crap sandwich?

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Well, and I'm just playing around in my mind, obviously, but I'd think that would be a pretty good sized chunk of change if they did that. They could tax it as well, and make me give some back to the feds. First thing I'd do was pay off my house, which gives money back to my bank.
Not going to happen, I know, but I just cannot stomach the idea of them doing this bailout. And it's not a popular opinion, I'm pretty sure, but I don't have much sympathy for people who bought houses that they had to *know* that they could not afford, and are facing foreclosure.
I bought in 2005. When I went through the loan process, they told me I was eligible for a loan far, far greater than I expected. For a day or so, I dreamed of the house that I could buy with that kind of money. But then even dumbass me knew that the amount was a stupid ass amount for me to even begin to consider, so I shopped for and bought something pretty modest.
If I hadn't, no one would be talking about bailing me out today.~
Doer of Things at
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Where Flawless Beauty Meets Art
~The MetArt Network ~
selena.delgado9Comment
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In long term it is better, as the economy will have a chance to heal on its own. Short term, not so good, people will buy different currencies or commodities which are safer for now. And that will make the dollar weaker.Comment
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If the bailout was split amongst the population we'd only get a few hundred bucks each.Well, and I'm just playing around in my mind, obviously, but I'd think that would be a pretty good sized chunk of change if they did that. They could tax it as well, and make me give some back to the feds. First thing I'd do was pay off my house, which gives money back to my bank.
Not going to happen, I know, but I just cannot stomach the idea of them doing this bailout. And it's not a popular opinion, I'm pretty sure, but I don't have much sympathy for people who bought houses that they had to *know* that they could not afford, and are facing foreclosure.
I bought in 2005. When I went through the loan process, they told me I was eligible for a loan far, far greater than I expected. For a day or so, I dreamed of the house that I could buy with that kind of money. But then even dumbass me knew that the amount was a stupid ass amount for me to even begin to consider, so I shopped for and bought something pretty modest.
If I hadn't, no one would be talking about bailing me out today.-uno
icq: 111-914
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MojoHost - For all your hosting needs, present and future. Tell them I sent ya!Comment
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~
Doer of Things at
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Where Flawless Beauty Meets Art
~The MetArt Network ~
selena.delgado9Comment
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The economy won't collapse if this bill isn't passed. If business really wanted to fix the credit market they would, just pumping in money won't fix anything. I applaud congress for standing up finally and looking out for average Americans. There needs to be provisions for struggling home owners in this bill or it simply won't pass.
Honestly though, if you want to restart the economy, this 700 billion along with this summer's stimulus package should of been spent on public works construction projects like building roads, bridges, etc. When you do that you put people to work and that's what fuels a healthy economy.
Bailing out banks who knew this day would come for several years will not save our economy from a deep recession.Last edited by mynameisjim; 09-29-2008, 11:15 AM.jim (at) amateursconvert . com Amateurs ConvertComment
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That's the problem though. You can give all of the money in the world to the banks, but that won't help anyone get loans. Everyone is upside down on their mortgages and owes more money on their houses than it's worth by hundreds of thousands of dollars. No bank in their right fucking mind is going to give them a loan!
All this is gonna do is bail out the banks. It's not going to fix the problem for someone who owes $600k on a house now worth $200k.Herschel Savage
Brooklyn, NYComment
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If you break up 700,000,000,000 evenly into the 305,291,233 people that live in the US according to http://www.census.gov/main/www/popclock.html, that would be $2292 give or take per person. As you can see with the first stimulus checks, this did next to nil.Well, and I'm just playing around in my mind, obviously, but I'd think that would be a pretty good sized chunk of change if they did that. They could tax it as well, and make me give some back to the feds. First thing I'd do was pay off my house, which gives money back to my bank.
Not going to happen, I know, but I just cannot stomach the idea of them doing this bailout. And it's not a popular opinion, I'm pretty sure, but I don't have much sympathy for people who bought houses that they had to *know* that they could not afford, and are facing foreclosure.
I bought in 2005. When I went through the loan process, they told me I was eligible for a loan far, far greater than I expected. For a day or so, I dreamed of the house that I could buy with that kind of money. But then even dumbass me knew that the amount was a stupid ass amount for me to even begin to consider, so I shopped for and bought something pretty modest.
If I hadn't, no one would be talking about bailing me out today.
Now, if we can save banks, this will allow people to still borrow money for homes, cars, etc. This commerce would keep the economy moving. With the fat cats having no money, falling salaries, etc...This takes jobs away from Americans as the fat cats can no longer employ, etc.
The general person thinks that it's best for the country to save the common person, and it's just as selfish as the CEO's who think they deserve the world. If everybody would stop to thinking about me, me, me, we could all pull together and figure this out.
I know I'm in the minority and I know that this bill had a lot of BS attached...but overall, I think we needed this, and I hope they can counteract this with a new version shortly. let's split the difference between WS and the American people by a SMALL tax increase...This will strengthen the dollar once again, get the economy moving and possibly pull us out of a potential depression.Last edited by Guest; 09-29-2008, 11:17 AM.Comment
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Does anyone know projected amount of foreclosures happening doe to this mess? How many people may end up on the streets?Comment
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-uno
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What, you mean giving a $300,000 mortgage to a person making $35,000 a year was a bad idea??


Not teaching the population about credit and how it works and then handing them money is totally the fault of the system. In general (and I don't mean Americans, I mean globally in general) people are stupid. Take all the wealth of the world and divide it equally and in a few years the money ends up right back where it was to start with, with a few minor changes.
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you don't know you're wearing a leash if you sit by the peg all day..Comment
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Oh, I thought someone broke it down the other day when someone posted a chain letter with incorrect math and it came out to 400 bucks.-uno
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