T Nation

'Bailout' Voted Down


#1

The Dow Jones average is down 500 points right now, it was down 700 on the news that the House has voted down the bailout bill.

I'm glad that those pigs in Congress are willing to cripple the economy and plunge us all into a Great Depression like recession just so they can keep their jobs! Thanks Congress! You never cease to amaze me with your shenanigans!


#2

It's not over yet - they're still trying cobble together votes.


#3

You actually are in favor of the bailout? You must be a Wall Street fat cat, huh?


#4

I'm not - to me this is an example of representative democracy actually working.


#5

Nah. Couple of days will be a great time to buy stocks.

A fool and his capital are soon parted.


#6

Good, fuck this bullshit bailout.

About time the people started kicking down the doors of congress and demanding they be heard.


#7

I'm actually surprised it didn't pass, but thrilled beyond words... :smiley:


#8

I'm glad it got voted down too. If you believe in a free market you've got to take the good with the bad.


#9

The longer they take the better.

The longer this goes without North America disappearing the more opposition will grow.

I'll say again.

Let it all crash n burn so it might rise from the ashes with a new outlook.

Social engineering gets us here and somehow now financial engineering will get us out?

The good news for the GOP is that the public hates this idea, which actually heartens me, and the more the Dems point fingers of blame at them the better for the Republicans who actually have the citizens on their side on this one.


#10

Because no republicans are supporting this...


#11

No word from McCain camp yet - I hope they find some way to use this news to take the discussion in a new direction.


#12

McCain would be wise to vote against what ever ends up on the table after this. I had heard somewhere that he and Obama may sit this one out.


#13

It seems to me to offer an opportunity for McCain to show some actual leadership. Especially as the Obama camp are saying things that are demonstratably false - for example, that this is the result of Bush deregulation, etc.


#14

Bill if anyone's interested.... http://news.bbc.co.uk/2/shared/bsp/hi/pdfs/29_09_08_congress_bailout.pdf


#15

Interesting take on the cause of this mess by Pelosi.


I believe this was prior to the vote. Great stratagy for getting it passed by a complete nut-job.

Not one mention of Carter, Clinton, Frank, or Dodd with respect to the calamity. Just blame Bush.


#16

I WISH! But maybe I am believing too much of what is being said, that if nothing is done we will be facing 20% unemployment and the gears of the economy will grind to a dead stop.

We were talking about this in class today. My finance professor said something to the effect that even though we are damned if we do, we will be totally fucked if we don't.

You know, everyone is saying that this is a crisis that is on par with the Great Depression, yet these same people don't seem to care enough to actually do something about it.


#17

Just recieved an email from an investor bro of mine:

[i]If you missed the chance to buy stocks in August 2006.......

......then now's your chance, as we are comfortably back to those market levels right now!

If you sold at the bottom in the 1970's (or anywhere within a year of the bottom).....and put the money in CD's.....10 years later you still were under water.

If you kept your cool and stayed in.......after 10 years you doubled your money vs. staying out.

Things have been WORSE before and, last time I checked, the sun still came up the next morning and the markets did recover. It simply took TIME -- NOT TIMING.[/i]


#18

I tried to post this in its own thread but it didn't show up.

Interesting summary of the mess we are in. Use the pause button to take a closer look at some of the charts and graphs. Well put together in my opinion.


#19

Agreed.


#20

Listening to the Dems press conference. They are ducking responsibility for this like a swinging axe. It's sad to watch really.

All Bush's fault, Republicans fault blah...blah...blah.

Dam you know you are in trouble when the msm doesn't even believe you anymore.