Bailout bill fails

LadyT said:
Bush even said that its being passed so that people can continue to borrow to meet their everyday needs. That scares me.
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Well, that's what keeps things moving in the economy, like it or not.

Without debt, we're nothing. I'm not being facetious, either; if people only spent exactly what they made & never used credit or loans, the economy wouldn't move. Maybe that's a problem, but I don't know how you fix that.
 
Superfreak said:
shuddup.... I am pissed... not thinking straight... leave me be

Side note: how bout them Chiefs!! If that was the only win of the season, I can live with that.... my lil pony fans are much more tolerable that way.
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You are rarely thinking straight. However, you could not be more right about the Chiefs beating the Donkeys! Hahahahaha.
 
Darla said:
Well, if times were good, there is some merit to a split government. But times are very very bad, Obama is very very smart, and I don’t want anyone blocking his proposals. We need to get some shit done, we just had 8 years of extremism.
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trading one extremism for another is not my idea of a fix. With Pelosi and Reid in charge of the House and Senate... something tells me we won't be seeing anything moderate coming in front of Obama.

ESPECIALLY if they pick up enough seats to get to 60.
 
Onceler said:
Well, that's what keeps things moving in the economy, like it or not.

Without debt, we're nothing. I'm not being facetious, either; if people only spent exactly what they made & never used credit or loans, the economy wouldn't move. Maybe that's a problem, but I don't know how you fix that.
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TAX THE RICH!!!!
 
Superfreak said:
trading one extremism for another is not my idea of a fix. With Pelosi and Reid in charge of the House and Senate... something tells me we won't be seeing anything moderate coming in front of Obama.

ESPECIALLY if they pick up enough seats to get to 60.
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Yeah that would be awful.
 
Onceler said:
Well, that's what keeps things moving in the economy, like it or not.

Without debt, we're nothing. I'm not being facetious, either; if people only spent exactly what they made & never used credit or loans, the economy wouldn't move. Maybe that's a problem, but I don't know how you fix that.
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Simple do noting, it is going that way. things would change after a painful transition and the economy would deal mostly in cash.

It happened with the great depression.
and then after the war installment loans became popular.
 
They're not coming back until Thursday.

This is very, very bad. To think that they had a chance to stem the bleeding...
 
Sir Galahad said:
HOW SWEET IT IS! Any reports on people jumping out of windows yet? :cof1:
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I hear people in Manhattan are renting out jumping spots. And the undertakers are buying boats.

always money to be made you just have to pick the right angle.


And the dollar too it's biggest leap up in 17 years. Cheaper oil and imports.
 
Here's more. I swear, it seems like something out of a weird dream. These people are elected to put "country first," not get pissed about a speech:

""This is not a partisan crisis, this is an economic crisis," said Deputy Minority Whip Rep. Eric Cantor, who said that 94 Democrats also refused to go along with the bill. He described the vote as the result of "Speaker Pelosi's failure to listen and failure to lead."

House Republican Conference Chairman, Rep. Adam Putnam of Florida, said "he was disappointed that the process that yielded a bipartisan approach took a very marked, partisan tone at the end of the debate."

But House Financial Services Committee Chairman Barney Frank, D-Mass., took umbrage with that claim.

"Because somebody hurt their feelings they decide to punish the country. ... I mean, that's hardly plausible<" said Frank. noting that the number of Republicans insulted was the same needed to pass the legislation. "I'll make an offer. Give me those 12 people's names and I will go talk uncharacteristically nicely to them."
 
In the end, this isn't going to stop the FED and the Treasury from bailing out firms on a case by case basis and they'll continue to do that when they deem it necessary (Sovereign Bank anyone? Only down 72% today; National City? Down another 63% today) but the problem is that the ad hoc approach offers no stability at all and fails to deal with the underlying problems.
 
I'm looking at a couple of other boards where you have people on both the left and right celebrating this bill didn't get passed and people on the left and right pissed the bill didn't get passed.

On this board we have people on both the left and right on both sides of the issue. We have people that believe we are in a real crisis and people that believe we are being lied to and sold a bag of goods regarding the current economic situation.

This is crazy all the way around.
 
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