Bailout bill passes House 263/171

[REWahoo]

The second time was the charm/curse. Now what?

 

[ziggy29]

Run to Walgreens and buy some Vaseline?

 

[freebird5825]

well, there goes the 15% income tax bracket.
or the money printing presses will be cranked up.

actually, i have no idea. i just needed a quick rant opportunity.

 

[ziggy29]

And here come the sellers, right on cue...

 

[Tempesta]

so why isn't it up more?

 

[REWahoo]

Buy on the rumor, sell on the news...

 

[W2R]

Will Bush sign it?

 

[al_bundy]

so why isn't it up more?

we'll see by the end of the day, but looking at the daily and 5 day chart it looked like some technical sell programs probably got tripped or day traders sold off because some technical signals said sell

 

[REWahoo]

Will Bush sign it?

Absolutely. He'll sign it today if they get it to him in time.

 

[CompoundInterestFan]

Great! Now all of our problems are solved! The stock market will only go up from here, right?

 

[W2R]

If it puts us back into 2003-2006 bull market days, that would make me very happy. Now we will found out whether or not we were being sold a bill of goods, and if so, how greatly we were duped.

When I was little, sometimes my big brothers would tie me to a chair, dance around me, and play that they were Indians burning me at the stake. (I am not quite sure how Joan of Arc got entangled into their cowboy-and-Indian play.) Anyway, somehow the feeling here is eerily similar... total lack of control or any say in the matter.

Just waiting and watching.

 

[Nords]

The second time was the charm/curse. Now what?

Warren Buffett's going to lead both houses of Congress in a rousing rendition of "Happy Days Are Here Again"...

... and all the campaigning senators (and governors) are going to proclaim that the bailout package only passed on their personal intervention.

In a seemingly unrelated coincidence, today I'm going to listen to a medical startup company give a presentation on how to treat heart attacks and coronary blockages.

 

[Leonidas]

I'm not looking for the market to go up on this. Well, not today anyway. Wasn't the whole reason for the...bailout, rescue...whatever we're calling it now, wasn't the whole reason for it to stave off economic disaster? I'm thinking I want to see how well the credit markets react before I go all crazy and start buying stuff.

 

[TromboneAl]

A great example of how the media pretends there's a reason for the ups and downs of the stock market:

CBSNews.com headline:

• Stocks Rise As House Approves Bailout

Stock chart:

 

[ziggy29]

A great example of how the media pretends there's a reason for the ups and downs of the stock market

Note to the readers that the bill's passage is right where the cliff begins to drop straight down on the above chart.

 

[ziggy29]

Good thing they passed this sucker and stabilized Wall Street. The Dow could have dropped 400 points in less than three hours without the bailout package; it's been quite good at doing that without any help lately...

 

[REWahoo]

Makes you wonder what the Dow would have done had the bill failed. Let's see, last time that happened it dropped 778 points. This time it might have climbed back to 14,000, the markets being rational...

 

[Bikerdude]

When I was little, sometimes my big brothers would tie me to a chair, dance around me, and play that they were Indians burning me at the stake. (I am not quite sure how Joan of Arc got entangled into their cowboy-and-Indian play.) Anyway, somehow the feeling here is eerily similar... total lack of control or any say in the matter.

Hey, at least you got to play.

 

[W2R]

Hey, at least you got to play.

That's true! And with the bail-out, at least I get to watch. They could have done all of this behind our backs, claiming national security interests, I suppose.

Warren Buffett's going to lead both houses of Congress in a rousing rendition of "Happy Days Are Here Again"...

I can hardly wait to join in the festitivities.

 

[TromboneAl]

Am I right in assuming that the $2,300/person doesn't apply to me? That is, for the next 4-5 years I'll be paying little or no taxes, and after that, they should be pretty low.

 

[REWahoo]

... for the next 4-5 years I'll be paying little or no taxes, and after that, they should be pretty low.

You aren't smoking those funny cigarettes during the daytime again are you Al?

 

[haha]

TGIF!

Totally nasty week. Only good thing I can say is that it can't keep up like this much longer, or everything will be nearing zero. Or is it that everything in my portfolio will be nearing zero?

I'm going to knock off, buy some vodka and flowers and go visiting.

Ha

 

[Donzo]

Totally nasty week. Only good thing I can say is that it can't keep up like this much longer, or everything will be nearing zero. Or is it that everything in my portfolio will be nearing zero?

I'm going to knock off, buy some vodka and flowers and go visiting.

Ha

I'm with you concerning the vodka Ha - I just made a white russian for me and DW. What a week. Since the first of the year I have seen my net worth go done 4-5 years living expenses .

No pain -- no gain?

Next week will be very "telling".

We will get through it - this 2 shall pass.

 

[Notmuchlonger]

3 years from now you will all be going remember back in 2008..O0

 

[cute fuzzy bunny]

Absolutely. He'll sign it today if they get it to him in time.

Good news: I know where he lives just in case he's gone home when they show up with the bill...