House Rejects Rescue

Glad to see the whole thing shot down. Major win for America.

Come on Bman, jump down Jugo's throat for praising its defeat.

Jugomugo wrote:Glad to see the whole thing shot down. Major win for America.

Really Jugo? What do you stand to lose? You obviously have no skin in the game.

iberlingirl wrote:

wouldn't it be 699,999,999,999 more? (Granted, knowing W's fuzzy math, he probably does think it's that.)

This is easily one of the most depressing threads I ever read... especially that some posters seem to take delight that certain failed policies will only increase their deflated egos at the expense of our country.

We need SOMETHING that will clean our acts altogether. This kind of pleasure, hoping that things will fail at the expense of our nation, is deplorable.

I personally think this nation needs a revolution. Watching the country fail only strengthens my opinion that the two party system is killing America.

I can't wait to see this country crumble. I have no plan to live my life just to make money and pay it to the government.

That is probably easier said than done. IMHO we have always been a dichotomous nation despite the fact that our constitution arose from compromise. It is in our psyche to be black or white, right or wrong, guilty or innocent so it really isn't that surprising that parties developed by our 2nd (3rd depending on how you count) election and as long as we elect our leaders on an all or nothing basis, there is little hope that a two party will fall out of favor unless, as you promulgate, we have a revolution. A much larger part of the polity needs to actually give a crap and become informed before that's going to occur.

Quick Vote
What should Congress do now that the bailout bill has been defeated in the House?
Draft a new rescue plan 41% 84946
Let risk-taking financial institutions fail 59% 120363
Total Votes: 205309


"Obama calls on Americans to support rescue plan..."

Vis wrote:This is easily one of the most depressing threads I ever read... especially that some posters seem to take delight that certain failed policies will only increase their deflated egos at the expense of our country.

We need SOMETHING that will clean our acts altogether. This kind of pleasure, hoping that things will fail at the expense of our nation, is deplorable.

I'll add this post to "things that suck". Thanks for taking the time to make a flacid attempt to pass judgement and shame, a game which you evidently enjoy in great measure. The verbal chemistry of your post does not mix well in a free speech culture to produce any solution except contempt. Ironic, your words are, to say the least.

"Together" - except for that guy...

Go find another twink avatar holding a pair of pom-poms. Practice your patriotic cheers with him.

Vis wrote:This is easily one of the most depressing threads I ever read... especially that some posters seem to take delight that certain failed policies will only increase their deflated egos at the expense of our country.

We need SOMETHING that will clean our acts altogether. This kind of pleasure, hoping that things will fail at the expense of our nation, is deplorable.

The economy crashing might be just the solution to "clean our acts altogether". It might help to curb some of the greed that exists on Wall St, and other markets around the world.

People act funny when they get nervous or anxious.

Remember, this is a HUGE issue that will affect ALL Americans, regardless of their personal perspectives.

Oh, and to my knowledge nobody on The Real Board holds office, or is seeking public office. What can Jugo's words possibly do to make the situation either better or worse aside from aggravating concern.

Vis wrote:This is easily one of the most depressing threads I ever read... especially that some posters seem to take delight that certain failed policies will only increase their deflated egos at the expense of our country.

We need SOMETHING that will clean our acts altogether. This kind of pleasure, hoping that things will fail at the expense of our nation, is deplorable.

I dont disagree with you Vis... I'm just not of the opinion that a 700 billion baliout is in the interest of our nation. I would rather see the government insure these mortgages instead of buying them. Public Mortgage insurance, if you will. Meanwhile a mandate for these banks to convert these risky assets into less risky assets in the form of wholesale restructuring of bad mortgages to more favorable terms. The companies that refused to restructure these loans could be punished by not having access to federal monies for a certain period.

That was the government Only buys the mortgages that actually fail.

I think there are other options as well, such as the nationalization of the investment bank... a long term investment that would offset the cost of such a bailout.

There's also the potential that a bank that lends money to a troubled bank would gain equity in said bank. So companies that were really in deep trouble with this would feel the sting, but would not necessarily belly up. You drive drunk behind the wheel too many times and you lose the privilege to drive a car...

Reid reveals: Major insurance company on verge of going bankrupt...
http://abcnews.go.com/Politics/PersonalFinance/story?id=5926400&page=1

"We don't have a lot of leeway on time," Reid told reporters in the Capitol. "One of the individuals in the caucus today talked about a major insurance company -- a major insurance company -- one with a name that everyone knows that's on the verge of going bankrupt. That's what this is all about."

...."Senator Reid is not personally aware of any particular company being on the verge of bankruptcy," Manley wrote in an e-mail to ABCNews.com. "Rather, his comments were meant to refer to the conditions in the financial sector generally. He regrets any confusion his comments may have caused."

Way to go Harry, spread some more fear!

So this is the bailout, I mean PORK bill?

http://www.foxnews.com/projects/pdf/AYO08C32_xml.pdf

http://www.nypost.com/seven/10022008/news/nationalnews/piggy_pols_in_hog_heaven_with_pork_packe_131770.htm

The special provisions include tax breaks for:
* Manufacturers of kids' wooden arrows - $6 million.
* Puerto Rican and Virgin Is- lands rum producers - $192 million.
* Wool research.
* Auto-racing tracks - $128 million.
* Corporations operating in American Samoa - $33 million.
* Small- to medium-budget film and television productions - $10 million.

LTRT wrote:So this is the bailout, I mean PORK bill?

http://www.foxnews.com/projects/pdf/AYO08C32_xml.pdf

http://www.nypost.com/seven/10022008/news/nationalnews/piggy_pols_in_hog_heaven_with_pork_packe_131770.htm

The special provisions include tax breaks for:
* Manufacturers of kids' wooden arrows - $6 million.
* Puerto Rican and Virgin Is- lands rum producers - $192 million.
* Wool research.
* Auto-racing tracks - $128 million.
* Corporations operating in American Samoa - $33 million.
* Small- to medium-budget film and television productions - $10 million.

heh... whats a little pork between friends???

pez wrote:heh... whats a little pork between friends???

on a Jewish Holiday no-less...

It passed.

http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309

And the market is selling off.

a woman where i work asked me what i thought about the bailout today. she said fha planned to buy all the bad debt from fannie and freddie but for "some?" reason it never went thru. anyone know anything about this? i dont recall it.

Bailout bill loops in green tech, IRS snooping
http://news.cnet.com/8301-13578_3-10057618-38.html?tag=nl.e433

The bill has become, in other words, something almost unrelated to the business of bailing out Wall Street. The Beltway term for this is a "Christmas tree bill," meaning everyone gets to hang their favorite spending projects on it--though by the time Congress gets it through, it more closely resembles a slop bucket.

*sigh*

More of the same... from both parties.

That was the biggest orchestrated piece of thief of the Treasury in America
History

The good Ol boys at work again!!!!!!!!!!