Bailout bill passes House 263/171

[socca]

questions, questions, questions...

Ahhhhh....the sweet illusion of prosperity that only massive debt can provide. Ugly realities are best left for future generations, IMO.

So...the gov't is going to restore confidence in American financial institutions by:
(1) declaring the American financial ecosystem to be a gigantic Superfund site, and
(2) suspending the 'mark-to-market' rule. Anybody know how assets will be valued if not by mark-to-market?

I'm confused. Numerous talking heads in the White House, Congress, and the media said that the sharp drop in the stock market when Bailout Bill #1 failed was 'proof' that something needed to be done. So, Bailout Bill #2 passes and we have another drop in the stock market. WTF? Where's the euphoria?

What does it mean if the stock market does not skyrocket within the next few weeks? Does it mean that fluctuations in the stock market should not be used as the basis for formulating, marketing, and evaluating the efficacy of public policy? Does it mean that taxpayer money should be spent in a way that enhances the ability of American workers and enterprises to generate value and thus compete successfully on the world stage, rather than be spent in the hope of goosing stock market values for a bit?

 

[Notmuchlonger]

I dont know what it means. Im going to close my eyes and hope the bad women go away.

 

[laurence]

I dont know what it means. Im going to close my eyes and hope the bad women go away.

Could you send them my way?

Goodies for everyone, I think a few of us might benefit from the AMT exemption.

 

[riskadverse]

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.

Mission Accomplished.

They're going to pay for it with tax cuts and AMT exemptions.

 

[Notmuchlonger]

Could you send them my way?

Goodies for everyone, I think a few of us might benefit from the AMT exemption.

Ya Ill be saved from the AMT thingie. Of course Ill send them your way. Dont say I didnt warn you!

 

[JohnDoe]

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

Maybe 6 years from now.

 

[lazygood4nothinbum]

my apologies to the o.p. if my post soapboxes the thread. my intent is meant to be a comment on economics as it functions in society...

"When I say 'capitalism,' I mean a full, pure, uncontrolled, unregulated laissez-faire capitalism—with a separation of state and economics, in the same way and for the same reasons as the separation of state and church."~~ayn rand

i suspect what we witnessed today is but the first installment of a very expensive systemic & ethical fix which will inevitably lead to a more socialistic application of capitalism. i for one welcome it. how interesting, per rand's quote, that it comes during a time when separation of church and state began to blur.

 

[Notmuchlonger]

How much do them there fancy plates cost?

 

[USK Coastie]

Now that GWB has signed this piece of trash I welcome all of my fellow comrades to the Socialist States of America, (followed by he former Soviet Union National Anthem).

This is certainty not what I wore a uniform of this country for 20+ years for. Today I am saddened at what we have become.

 

[cute fuzzy bunny]

Well, he's allegedly the ultra super right winger, so I guess its all downhill from here.

 

[Marquette]

Ahhhhh....the sweet illusion of prosperity that only massive debt can provide. Ugly realities are best left for future generations, IMO.

As a vasectomized kid hating mongrel, I fully support this outlook. I also support any actions that work towards thinning the herd so that I can spend less time in line.

I'm having a hard time reconciling this with my save the planet, live below our means, give a bunch of money to children's development charities, etc lifestyle though. I think I should go pollute more instead.