700 billion bailout bill failed

[oregonweim]

and markets in the crapper. I won't lie do not know any details, just know the dow dropped 570 (right now) as they expected it to pass (and you know how dow hates their expectations to not be met). Listening to Republican and Democratic leadership on cnn right now, think everyone needs to be voted off the island.

[ernieren]

I actually think it was a smart move not to pass this bill. If we want to help out people then help the people that are hurting . Not the big companies. It will all work it self out .

[vetsgt02]

This was doomed by Palosi (bad spelling) She is tryign to drag this out until the DEMS get everything they want in the bill. Both partys had a hand getting us in this mess but the Dems I think would just asoon keep it in limbo until the election since they are trying to blame this on Bush. really it comes down to the Glass/Slade act that they got rid of durring Clintons second term. If it was still an Act this could have never happen.

[vetsgt02]

I actually think it was a smart move not to pass this bill. If we want to help out people then help the people that are hurting . Not the big companies. It will all work it self out .

It will NOT work itself out and that is the problem.

[JuanGonzales]

it keeps dropping and I keep buying. :dance::dance::dance:
with it being an election year everyone had to know the market would be crazy. i'm sure the deal will pass in the very near future.

[scrappy]

i'm glad it failed. i heard it was going to cost like $2300 per person in the US to bail them out.

i'd be more for it if they wanted to help some of the people that got taken by the flexible interest rate and lost their homes. this is classic on why banks shouldn't finance more than a person can possibly pay. my older bro got hammered by that and luckily refinanced and got out of it.

i think all the bonuses from the people who made money off this should pay back the money. you shouldn't get a bonus at all if you helped someone get into debt and the bank failed. they are taking the money and running.

[rexvos]

basically it failed due to earmarks and pork added to the bill. an almost equal mix of Republicans and Democrats voted it down. This would be a surprize to anyone that believes anything Nancy Pelosi says as she just blamed Republicans. Funny how Republicans wanted to reform Fannie Mae and Freddie Mac in 2004 but Dems blocked it saying that they was no need for regulation of the outfits (due to large campaign contributions made to democrats by both Fannie and Freddie)

[Migraine]

blame K&K

[Bounty13]

I'm also glad it failed. I don't like paying for other peoples mistakes. Giving out sub-prime rates to people you knew couldn't pay once the rate shot up. Everyone who bought a house for the purpose of flipping it, your mistake, screw you.

I do agree that if the gov't bails out companies, the execs shouldn't be getting any golden parachute, how about giving them one with holes in it.

All of this is pretty much oils fault, people who were or could barely pay their mortgage payments definitely couldn't once oil shot up. Same banks that run mutual funds and play in oil, they are the speculators as well.

Only good thing out of this is oil has gone from $150 to $100.

[bamasa37sb34]

Only good thing out of this is oil has gone from $150 to $100.

Yet we still pay around $4 a gallon :ban:

[timonahan]

Hey I know, take that 700 billion, give each family in America 5000.00, they can then get caught up on their mortgages, credit cards, and other bills, then the banks will end up getting the money anyway but at least the small folks like us get something out of it to.


And the govt. can hire some of the 600,000 people who lost their jobs this year to help give out the money.


Everyone wins /thread

[Bounty13]

Yet we still pay around $4 a gallon :ban:

Ask King Allibaba

[oregonweim]

TIM4PREZ :cheers:

Can I be secretary of state tim? :clap:

[timonahan]

Pam Anderson is my choice for VP ;)

[scrappy]

i was listening to a radio show on the way home and one point was proven. the people who got into flexible mortgage rates had the "choice" of paying just a little more for a fixed 30 year rate. i have no idea what the average would have been added on to someone's mortgage payment, if someone could find it would help.

adding money to the economy in rebates or stimulus checks is a joke. every alaskan was just given $3269 on the 12th of last month. $2069 was our PFD and $1200 was an energy rebate that Palin got us. the 1200 was mostly used to move people from the villages to bigger cities because they could no longer afford $12/gallon for gas or heating oil to get them through the winter. most of you know, i work for the city landfill and i have to say, on the 13th, which was a saturday, i saw 25 BIG tv's come in, with 25 large boxes from newer larger tv's. the "energy" store got like 5 people in a city of 250,000. so you would think most of these people would catch up on bills, and house payments. why should they? they aren't able to take the house with them, they can take the tv though.

i think most of these people in washington that voted no on bailing out the banks, realized in an election year there is no way they are getting re-elected if they agree to not hold someone accountable for this. while i agree some people didn't know the flexible interest rates were a bad idea, because banks don't give you the whole lot of info, the bankers that cashed in and made millions over it, should be paying their bonuses out to balance the banks out.

when i worked for SW, we got bonuses based off gallons sold over last year, and we got another bonus based on how much money in dollars over last year we made. the percentages were higher for gallons than money. i got some hefty bonuses before i left the company, but before i was a manager, i used to bitch at my store manager for giving away the store and low margins. he is now, jobless and drawing unemployment because he was so focused on selling 100 gallons with .03 per gallon made over cost, all the "new construction" gallons are now bad debt accounts. the painters went bankrupt because the builders couldn't afford to pay them, and SW filed liens on houses because SW owns the paint on the walls. not that they can get the paint back off the walls and back in a bucket, but they did it to prove a point. it's a vicious cycle that is going round and round and as long as our gov't continues to bail out large companies, it's going to happen.

i'd vote to pay 700 billion to help get these people back their houses. what is uncle sam going to do with the houses in a crap market? nothing. at least if the people are able to get their houses back, banks have some money coming in

sorry for the long post, medicated a little