:1orglaugh

fuck... I better stop watching fucked up news and go and make myself a freaking Omelet du Formage..... at this point that seems like a better investment of my time.... c u all in 30 mins....

-470 right now, watch CNN

most republican strategists advised a no vote as a way to separate themselves from the toxic bush admin.

aint that armerica... foreclosures to see...

aint that armerica... jobs sold oversease...

aint that armerica... home of the greed

little pink houses for the banks to seize

Stock market crash... Tommorrow, or possibly by end of day.

This Is The Dream Contrarian Market.omg.

Repubs are blaming the bill failing on a speech by Pelosi. What tards.

Pelosi's speech was retarded. So was voting down a bill because of a speech. Everyone in Congress is an idiot.

Great move, good timing on this vote.

So these "nay" fuckers in the house would rather watch the US economy collapse than lose their jobs?

The Republicans in Congress are scumbags, but the speech was ridiculous. Trying to pass a major bill and she gets up and just thrashes them. Save that for afterwards.

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.

They will lose their jobs when we hit 10% unemployment and everyone's 401K drops 20%.

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.

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?

I suspect a new bill with a few minor rewritings will be presented and passes within the next week. :2 cents:

"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."

Anyone who missed 4Q 01 as a buying opp, 4Q 08 might be just as good!

The average person's 401k is already down 28% from the peak.

I'm planning on buying a lot in October.

October *shudder*

Seems likely.

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.

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.

there will absolutely be another bill.

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.

You wanted this bailout bill to pass?

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.com

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.

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.

If the bailout was split amongst the population we'd only get a few hundred bucks each.

Obviously my dumbass-edness applies to math as well then. :winkwink:

I just don't see how this goes hand in hand with a free market economy, but maybe we aren't that anymore.

Those people are too stupid, banks which gave them the money are the responsible ones. Give a monkey a gun...

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.

the cost of Cologne is gonna skyrocket

I read $2500 each.

Few k each, but it wouldn't make a difference anyway. Maybe even a worse solution. People are dumb, they would think everything is ok now and spend it on some stupid shit.

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.

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.

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.

$2333.33 per person.

Does anyone know projected amount of foreclosures happening doe to this mess? How many people may end up on the streets?

Karl Marx said, and I'm paraphrasing, "Give free markets enough rope and they'll hang themselves."

What, you mean giving a $300,000 mortgage to a person making $35,000 a year was a bad idea?? :1orglaugh:1orglaugh:1orglaugh

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.

Gonna be a helluva lot more if this bailout doesn't happen. Hope you guys like soup kitchens.

sooooo.... as much as these politicians say that this was a non-partisan bill, it fell victim to the same partisan crap as all other bills?

Not saying I did. But the majority of the dems did, but were not able to come together enough to pass it.

- 700!!!!!! fuck

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.