700 Billion Buy out plan defeated.....

[Darthrazz]

https://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/financial_meltdown

 

[The Mike]

Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure.

They found only two

Only two members supported this bailout? Really? That is not good. They refuse to really breakdown the 100+ page bailout package anyone pinpoint what is holding it up? Every news outlet just focuses on the lack of golden parachutes, etc but falls short of really detailing everything. I'm interested to know exactly what are the talking points? Form the article quoted the end is just more bipartisan finger pointing...

 

[Chimera 1]

GOOD!!!! maybe now they will take that 700 billion and give it to the only entity that can make the financial market recover.... US!! Give every american 100 grand after taxes and watch the nation surge back to life instantly. They need to stop playing around before some wealthy nation comes along and literally buys america out from under us.

 

[Chimera 1]

Only two members supported this bailout? Really? That is not good. They refuse to really breakdown the 100+ page bailout package anyone pinpoint what is holding it up? Every news outlet just focuses on the lack of golden parachutes, etc but falls short of really detailing everything. I'm interested to know exactly what are the talking points? Form the article quoted the end is just more bipartisan finger pointing...

They don't truly want us to know what is in it because they know they are padding their pockets and bending us over the table. Put the bailout plan out where we can see it. they are terrified because they know once it gets out that they will lose their jobs with it being an election in 5 weeks, and we will be pissed when we see it so they are trying to do it hush hush and want us to blindly support it.

 

[Darth Loki]

How did that economic stimulus plan work out

 

[Darth Madden]

How did that economic stimulus plan work out

I spent mine.

 

[barbelith]

Give every american 100 grand after taxes and watch the nation surge back to life instantly.

That would create hyperinflation.

 

[316what]

GOOD!!!! maybe now they will take that 700 billion and give it to the only entity that can make the financial market recover.... US!! Give every american 100 grand after taxes and watch the nation surge back to life instantly. They need to stop playing around before some wealthy nation comes along and literally buys america out from under us.

That would cost a helluva lot more than 700 billion.

$100,000 for 200,000,000 people would be 20 TRILLION dollars.

 

[The Mike]

NEW YORK - Wall Street plunged precipitously Monday, at one point sending the Dow Jones industrials down more than 735 points as investors feared that the failure of the government's financial rescue plan in the House will force the country into a worsening credit and economic credit risis.

Should be interesting to see where we go from here.

 

[darthviper107]

I don't know if it's the best choice for this, but with all that's happening without them doing anything at all I don't think they should delay doing something about it.

 

[Vader AL]

if everyone in this country gave $25 we could raise the 700 billion.

 

[The Craw]

i would never just give $25 dollars to anything government or corporate related.

 

[spartan]

 

[Mesa]

It's just more of the blame game, which I'm now going to contriubte to.

I like how that old hag Pelosi gets on the air and blame house replublicans for causing the failure while meanwhile, she can't even gets 40% of her own MAJORITY party in the house to agree on it. Dems don't even need a republican vote to get it to pass.

This economy is doomed if we can't get past this childish bickering and finger pointing.

 

[The Craw]

we've been doomed for the last 8 years. this wont make much of a difference. this is what happens when you have republicans in charge.

 

[Mesa]

we've been doomed for the last 8 years. this wont make much of a difference. this is what happens when you have republicans in charge.

Or when you have democrats ruling congress and ignoring Bush's warning of not putting oversight of Fannie May and Freddie Mac. He's requested that action be taken for the past year and a half and was ignored and overruled by a democratic congress that wanted to live a fairytale where even harry the hobo can own a home.

 

[turtlepower73]

well the stimulus was great. democrats senators and congressmen didn't want it the first time. but now they want another one and bush who is a republican said no to it now..i did that because i didn't want to look biased..

 

[spartan]

Or when you have democrats ruling congress and ignoring Bush's warning of not putting oversight of Fannie May and Freddie Mac. He's requested that action be taken for the past year and a half and was ignored and overruled by a democratic congress that wanted to live a fairytale where even harry the hobo can own a home.

I'm pretty sure that Georgey and the rest of the neo-cons has done a lot more in the past year, or rather 8 years, to screw the economy... that warning will hardly wipe his slate clean...

 

[The Craw]

well the stimulus was great. democrats senators and congressmen didn't want it the first time. but now they want another one and bush who is a republican said no to it now..i did that because i didn't want to look biased..

bush probably just didnt understand what they were asking for cuz they were using big words. maybe they should present the idea in the form of a children's book with pop-up pictures next time.

 

[barbelith]

Or when you have democrats ruling congress and ignoring Bush's warning of not putting oversight of Fannie May and Freddie Mac. He's requested that action be taken for the past year and a half

This problem started more than 18 months ago and FM/FM is only a minor part of it. Blaming politicians of any stripe doesn't make much sense here. This is a problem created by Wall Street greed and an amoral financial system.

and was ignored and overruled by a democratic congress that wanted to live a fairytale where even harry the hobo can own a home.

The last time I checked we only had a narrowly Democratic House and a deadlocked Senate. Maybe someone died?