Bailout bill fails

[lazygood4nothinbum]

the official early retirement security scale: 963 views in 269 minutes

Quote:

Originally Posted by Dawg52 I wish the markets would close for the next 2 days. BTW, just heard Donald Trump say he thinks oil will drop to the $20-30/bl range. And that is the silver lining to all the mess. Hard to believe.

just in time for my autumn roadtrip through the blueridge and up to nj/ny this november. i hope the southeastern states have gas supplies by then.

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Originally Posted by Want2retire Happy New Year, Lazy and everyone! I didn't know that. We feds don't get it as a holiday.

thank you and back at ya. tough to celebrate the new year as it will always be a sad day for me because mom died during sunset of rosh hashanah.

[Sue J]

My representative voted against it, so did nearby representative Dennis Kucinich.

L'shana tova tika tavu to Lazy and anyone else who is part of the tribe.

I don't celebrate Rosh Hashanah anymore but watching the news make me think that an apple dipped in honey can't hurt.

[Razor]

It really is different this time, isn't it?

[audreyh1]

100s of bank failures during the S&L crisis - but that was also because in some states (like TX) each branch was a separate bank. So in some cases one name brand bank failure translated to 20, 50 or more individual failures.

Now we got the really BIG banks failing instead.

Audrey

[Texas Proud]

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Originally Posted by DragoMuseveni That we don't know what will happen is the problem. To oversimplify, if we'd have passed the bailout bill our downside would have been $700,000,000,000. But since we didn't pass it our downside could be potentially unlimited. WaMu went splat last week, Wachovia went splat today. I hate to think about what is next. Now is not the time to roll the dice. I looked at the bailout as a kind of insurance. Flood insurance may cost alot, and you might use it once every hundred years, but it can be the difference between financial survival and spending the rest of your days as a Wal-Mart greeter when a big flood hits.

But both WAMU and Wachovia were bought and the 'main street' did not suffer... yes, the investors lost, but if you have a checking account with either, you lost nothing...

I am confident that money will choose the winners and the losers quickly... and it will get sorted out...

[lazygood4nothinbum]

thanx suej. but i'm not really much into the practices of any tribe that considers me an abomination.

curious question brought up by a call-in to cspan: is there some way of knowing what representatives dumped stock before the vote?

local news just announced the votes of all our representatives were across the board in south florida democrats aye, republicans nay.

[Milton]

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Originally Posted by TromboneAl Joe Mainstreet doesn't understand it, complains to congressman, congressman gets scared, votes no.

Sad but true.

As Bugs Bunny would have said, what a bunch of maroons.

[haha]

Even though I am getting my a$$ thoroughly kicked, it could be worse. Look at what some conservative investors had handed to them.

http://www.bloomberg.com/apps/news?p...Ia0&refer=home

Lehman "100% principle protected" structured notes worth at best pennies on the dollar.

Ha

[Bestwifeever]

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Originally Posted by Martha At least see how they voted. Mine voted in favor of the plan.

My Republican rep voted against it (and her e-mail is not functioning, gee, I wonder why)--my senators would vote for it (Obama and Durbin) if it got to them.

But I've decided my vote against all incumbents from now on will be my imaginary term limits--one term in office only, to keep our elected officials from focusing on reelection and appearances and worrying about what their constituents will think about their votes.

[socca]

With the failure of the Paulson bailout bill, at least two great crimes have been avoided with 100% certainty:
(1) the theft of money from prudent savers like me to cover the bad debts of imprudent speculators on Wall Street and Main Street
(2) the theft of money from the future in order to create an artificial prosperity today.

Have we committed another great crime by not passing the bill? Maybe, maybe not. It depends how much innocents will suffer as the future unfolds. For now, I'm delighted that the two great crimes have been avoided (especially since I was going to be one of the victims).

Republicans, stick to your guns! Don't give in to the Kleptocracy! The Paulson bailout in any way, shape, or form must stay dead! Other less expensive, more carefully managed, more carefully analyzed, more highly targeted, and ultimately (possibly) more effective approaches can be devised in the future if the situation warrants.

Note to Obama: your proposed 'Great Society' spending programs might be acceptable if the U.S. were solvent, but we're effectively bankrupt. It's time to stop hiding our serious problems behind a sea of deficit spending. The recognition that we have a problem is the first step to solving it.

I'm a lifelong Democrat. But for today, at least, I'm a Republican.

[Milton]

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Originally Posted by Bestwifeever to keep our elected officials from focusing on reelection and appearances and worrying about what their constituents will think about their votes.

[youbet]

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Originally Posted by Bestwifeever IMO she should have left her partisanship at the door. She would have been golden if the bill had passed.... :

It was the timing..... She could have simply announced the bill was ready for vote and asked for bipartisan support. Then, after it passed, gave the speech demonizing the Republicans, etc. etc.

A head up her butt move to say the least. She acted/sounded like she didn't want it to pass. And she's the leader....... soooo......

[youbet]

Bestwifeever:

You're local to me..... Were you also surprised to see that Jesse Jackson voted NO? I was.

[lazygood4nothinbum]

the official early retirement security scale: 1701 views in 323 minutes

Quote:

Originally Posted by socca Have we committed another great crime by not passing the bill? Maybe, maybe not. It depends how much innocents will suffer as the future unfolds. For now, I'm delighted that the two great crimes have been avoided (especially since I was going to be one of the victims).

to poorly paraphrase one talking tv head i heard recently: when our economy goes south, people here suffer. but when our economy goes south, third world people die.

[youbet]

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Originally Posted by lazygood4nothinbum to poorly paraphrase one talking tv head i heard recently: when our economy goes south, people here suffer. but when our economy goes south, third world people die.

Expanding on lazy's post......

I wonder if other countries who might have benefited from the bailout passing feel we "owe them" some solution to the problem since we created it but they're sharing the pain?

Any comments from our Canadian freinds on how things are going up there?

[Bestwifeever]

Youbet:

Interestingly the Chicago Tribune forgot to include Jesse Jr. on their breakdown of the Illinois delegation (I could read a lot into that omission ): Illinois delegation split on bailout vote - Chicago Breaking News

But that is amazing that he broke party lines.

[lawman]

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Originally Posted by haha She has looked pretty good all through this. Actually, she looks good period! Ha

How many bottles of Absolute and little blue pills did you take?

[Dawg52]

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Originally Posted by haha Even though I am getting my a$$ thoroughly kicked, it could be worse. Look at what some conservative investors had handed to them. Bloomberg.com: Exclusive Lehman "100% principle protected" structured notes worth at best pennies on the dollar. Ha

Well well.......something I didn't buy. Every other move I've made in the last 12 months has been wrong.

[unclemick]

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Originally Posted by haha This is a good day to spend with a bottle of Absolute, a little blue pill and 3 horny girls. I know where I can get the 1st 2. ha

In the sixties it was a Chinese restaurant around 7th and Jackson - but I couldn't afford the Absolute let alone the girls. The blue pill hadn't been invented yet - but I was young.

The Chinese food wasn't that bad nor expensive.



heh heh heh - at least Mr Market and Congress are giving us something to talk about. This too shall pass - Right?

[Gotadimple]

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Originally Posted by unclemick heh heh heh - at least Mr Market and Congress are giving us something to talk about. This too shall pass - Right?

Absolutely -- it always does, doesn't it?

-- Rita