Bailout bill fails

REWahoo said:
The house failed to pass the bailout package. Fun times on wall street.
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Fun times for our portfolio. I wonder how we can find out who voted yea or nay? I'm interested how my state congressmen voted.

I have voted pretty much republican all my life, but this does for me.
 
This should be interesting.
I see Coca Cola is up right now!
 
Unbelievable. Self-serving politicians on parade. Mattress is looking better and better.
 
Dawg52 said:
Fun times for our portfolio. I wonder how we can find out who voted yea or nay? I'm interested how my state congressmen voted.

I have voted pretty much republican all my life, but this does for me.
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Not wanting to put this in the soap box, but I understand 94 Democrats voted against it as well, so it's hardly like one party can be blamed for it all.

I never really wanted to retire anyway.
 
Hey, we've still got our health and oil is down sharply today!:)
 
ziggy29 said:
Not wanting to put this in the soap box, but I understand 94 Democrats voted against it as well, so it's hardly like one party can be blamed for it all.

I never really wanted to retire anyway.
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Good thing. Oh yes, 2 for 1 against on the republican side.
 
Dawg52 said:
Good thing. Oh yes, 2 for 1 against on the republican side.
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Apparently the House GOP members got their undies in a bundle when the Senate tried to push their buttons.........:D
 
Just returned from the bank with some $$$'s ~ just in case!! :eek:
 
I'm watching CNN and one of the Republican reps just said Pelosi put a Democratic spin on the bill when she introduced it this afternoon and that sent some of the Republicans into the "nay" camp. Cantor (R, deputy minority whip) is blasting Pelosi for her speech. They all need to put on their big boy and big girl pants and vote for what's best for the US and not for their party.
 
Bestwifeever said:
I'm watching CNN and one of the Republican reps just said Pelosi put a Democratic spin on the bill when she introduced it this afternoon and that sent some of the Republicans into the "nay" camp. Cantor (R, deputy minority whip) is blasting Pelosi for her speech. They all need to put on their big boy and big girl pants and vote for what's best for the US and not for their party.
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Just more proof that Democrats and Republicans both suck, and that either side claiming to be "better" than the other is a joke.
 
I guess I am the only one here who is happy about the outcome. It will hurt for the short term, but in the long term, it is best to let te market sort itself out. I still have faith in Capitalism.
 
Do not fear, within a few days after this flexing of muscles by the minority party, a deal will pass, and the misplaced faith that the government can sove our ills will be restored, with the temporary uplift in the stock market.
 
camberiu said:
I guess I am the only one here who is happy about the outcome. It will hurt for the short term, but in the long term, it is best to let te market short itself out. I still have faith in Capitalism.
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I'd like to think that. But right now it feels like the choices are to run through a wall of fire (do the bailout) or plunge into a vat of acid (do nothing).

I'd like to play the "good free market capitalist" card but when these Wall Street clowns have the potential to ruin millions of innocent people when they ruin themselves, I don't think "let 'em go under" is necessarily appropriate.

If anything else, it ought to give us cause to reconsider whether a business should be able to become "too big to fail" because of the hurt its failure would put on a lot of innocent parties.
 
Goonie said:
You can go to the House of Representatives website....but I think everyone must be having the same idea.......I tried to go there and all I get is a blank white page. Maybe their servers blew up from the overload of inquirers. :rolleyes:
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I tried too, but no luck. My congressman is retiring so he doesn't give a rip what any of us think anyway. Oh well, back to working on my bomb shelter.
 
camberiu said:
I guess I am the only one here who is happy about the outcome. It will hurt for the short term, but in the long term, it is best to let te market sort itself out. I still have faith in Capitalism.
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That is my initial feeling as well however I would like to be more sure about it.
 
This is great news. I am so happy that we have not piled another 700 billion in debt on our grandchildren's shoulders. It is hard for me to imagine that anyone thinks it would have been a good idea to pass this bailout with less than a week to deliberate on it. If the bailout were to pass every mortgage holder in America would be wondering if it would be a good idea for them to quit making payments and let the government bailout take care of their mortgage. Capitalism works and it works well if we let it.
Jeff
 
Dawg52, just a friendly suggestion - - do not look at the market today! Why torture yourself.

Go play golf. It looks gorgeous out there, from cubicle prison anyway.

Yesterday I didn't think I could do another day at work, but here I am. (That lifetime medical had better be worth it.) After today I will only have 403 more days to go (including weekends, vacation, and holidays).
 
camberiu said:
I guess I am the only one here who is happy about the outcome. It will hurt for the short term, but in the long term, it is best to let te market sort itself out. I still have faith in Capitalism.
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I can definetely understand where you are coming from. I think the pain is useful, hopefully it will stop us from being so stupid for another two or three generations.

It is just that I'm worried about how much pain we are going to have. A year ago if you'd have told me that Fannie and Freddie would be taken over by the government, that Lehman go bankrupt, and that Morgan Stanley and Goldman would get into _serious_ trouble, I would have thought you were nuts. I think the doomsayers have more credibility than the Pollyannas right now, and the best that I see happening is that the pain is long and drawn out.

I think the bailout bill should have been passed. When you really think about it, if the $700,000,000,000 would have prevented the worst case scenarios it would have been money well spent.
 
To be quite honest, I haven't decided one way or the other, whether "I be fer it, er I be agin it". I can see the good and the bad of either decision.

So I think maybe I'll just go fishin' and see if I can find an absolutely 100% positive outcome in that.......well positive in everyone's eyes 'cept maybe the fish's. ;)
 
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