Economy Bailout Bill = Has failed

[JOHN MATRIX]

haha nobody really knows a damn thing about this situation, everybody trying to sound all intellectual when in reality there are probably only a handful of experts in the nation who really fully understand the situation. hahahaha

[JohnnyVegas]

Guys, get passed the partisan bullshit.  This is a failure of big business and government combined.  Without some of the key republican leaders, an even worse version of this bill would have been passed on Friday.

I'm glad the bailout failed.  I don't want to protect greedy CEOs, nor do I want the gov to be so involved with the market.  There were good repubs and democrats that voted against this bill.

Bingo. Big Business owns both parties-it is really stupid to say the dems did this, the repubs did that.

Untill both parties put OUR country first- we are screwed.

[ManBearPig...]

haha nobody really knows a damn thing about this situation, everybody trying to sound all intellectual when in reality there are probably only a handful of experts in the nation who really fully understand the situation. hahahaha
[/quote

i think the only "people" who know is the market.  we'll see how it reacts.  from these last few weeks, we've realized that no one knows shit about how this is gonna pan out.

all i can personally say is "america always wins in the end".   so i hope.

buy stocks!!!  (or invest in the Bank of Under the Mattress, that one's not going under).

[PANDAEMONIUM]

From what I read (i dabble in stocks a little, nothing too serious), this is what the bill failing to pass has done/caused:

1. as 240 said, it'll bring back responsibility into these companies, knowing there's no "golden parachute"
2. shit companies will go under
3. we won't turn into communist China
4. the markets will rally sooner than if the bill passed, because the government would've cut a check for 700B for "assets" that are worth 0 essentially
5. it will stop,slow down, and possibly even raise the value of the dollar
6. the "bailout" would've caused a massive inflation due to the decreased value of the dollar
7. the "people" for once will win, meaning we won't have to pay for irresponsible lending fuckups

I'm no economist either, but from what I understand about it, I think you're right on 100%

Fucck those greedy bastards

[JohnnyVegas]

haha nobody really knows a damn thing about this situation, everybody trying to sound all intellectual when in reality there are probably only a handful of experts in the nation who really fully understand the situation. hahahaha

You sell the public short.

Most people know this fiasco came about over bogus mortgage loans, fueled by lax oversight and greed.

This is not rocket science and the average GED educated citizen knwos it is all about greed, greed allowed to run wild by a Congress bought an paid for by Big Business.

Why do you think Americans are against this bailout 100 to 1?

[BM OUT]

haha nobody really knows a damn thing about this situation, everybody trying to sound all intellectual when in reality there are probably only a handful of experts in the nation who really fully understand the situation. hahahaha

That I agree with.I have no idea where this money will go,how it will be handed out,what it goes to.All we hear is "bailout" ,to tell the truth,I dont have a freaking clue what that means or what it consists of.All I know is that both sides blame each other,but if the democrats like the bill,pass it,they dont need one republican vote to get it through.I also find Pelosi to be a fool.Here she wants republicans on board and then insults them before the vote.She is so arrogant its amazing.The congress has a 17% approval rating and she thinks she has enough power to insult people "she needs".

[BM OUT]

Actually 220# was when I was in shape-now I am about as fat as you 

Let me give a piece of advise.NEVER EVER say "Im fat".ALWAYS go by the theory that there is no such thing as fat,there is only big.

[240 is Back]

That I agree with.I have no idea where this money will go,how it will be handed out,what it goes to.

Nobody does.  That will be done solely at Hank Paulson's discretion.  THAT is the scary thing.  No oversight, no controls.  He can send $500 billion to European banks tomorrow and we cnanot do a thing to stop it.

[warrior_code]

Nobody does.  That will be done solely at Hank Paulson's discretion.  THAT is the scary thing.  No oversight, no controls.  He can send $500 billion to European banks tomorrow and we cnanot do a thing to stop it.

How is that even legal?

[NarcissisticDeity]

The DOW dropped 700 points instantly (then recovered some - only down 500 points at the moment.)

Turn on CNN or MSNBC.  If you own stock, you are having a bad day.  Republicans are refusing to give corporate welfare to big companies.  Bush wants $700 billion and refuses to tell us how he'll spend it.

If the bill fails, dollar will suffer for a short time, but may be stronger in the long run.

You know fuck them , lets give them 700 Billion and no oversite on how it's going to go spent  thats how they got into this mess to begin with , let them take the hit .

[BM OUT]

Nobody does.  That will be done solely at Hank Paulson's discretion.  THAT is the scary thing.  No oversight, no controls.  He can send $500 billion to European banks tomorrow and we cnanot do a thing to stop it.

Let me ask you this.According to many ,including Ron Paul,this isnt legal.Do you think,if they strike a deal,that it will be challenged in court?Can it be challenged?Also,if the next president comes in and gets rid of Paulson and names a new guy,does he get the same power.It seems that they are almost establishing a new branch of government that consists of one guy.

[JOHN MATRIX]

haha, what if he just puts it in his own bank account and says 'thanks guys' and retires? technically no one could stop him loloololollool

[Oldschool Flip]

In most firms I've worked, you have people who spend 1-2 hours a day chatting, playing online, taking long lunches, wasting time.

If firms made people work more and goof off less, they can cut 1 in 5 employees.

Those people can go back to school, open a busienss, or ask themselves why they fcked around 2 hours a day at work.

Cha ching Rob. Lots of "wasted" money by companies from employees who goof off. Take breaks on your own time, but if it's slow, why not at least be constructive at work. Most people think that they've "earned" the right to goof off.

[big L dawg]

haha, what if he just puts it in his own bank account and says 'thanks guys' and retires? technically no one could stop him loloololollool

you not to bright huh.

[Oldschool Flip]

I'm telling ya, the best way for the Bail out to work is to just give the 700 billion to existing homeowners to pay off or down their current mortgages. That will leave the homeowner more of their own money to buy shit or invest in the market.

[gordiano]

Cha ching Rob. Lots of "wasted" money by companies from employees who goof off. Take breaks on your own time, but if it's slow, why not at least be constructive at work. Most people think that they've "earned" the right to goof off.

It has become the "American way". Just do enough to keep your job....no such thing as work ethic anymore. Zero pride.

[IFBBwannaB]

The DOW dropped 700 points instantly (then recovered some - only down 500 points at the moment.)

Turn on CNN or MSNBC.  If you own stock, you are having a bad day.  Republicans are refusing to give corporate welfare to big companies.  Bush wants $700 billion and refuses to tell us how he'll spend it.

If the bill fails, dollar will suffer for a short time, but may be stronger in the long run.

Nothing like taking political and economical advises from someone that lives in a trailer park.

Please enlighten us.

[shootfighter1]

Glad so many of us are in agreement.  

Your right Matrix, we may not get all the finer details that only the higher level economists understand but those of us that have been reading and learning have a good general idea that this plan is not in our best interest for several reasons.  One huge reason is as 240 pointed out....all our trust in Paulson with no specific plan or oversight?  

Shareholders need to hold their CEO's accountable.  The gov also should not force lending institutions to unwisely lend to people who don't qualify for the loans...which is exactly what happened, along with the corporate greed.

[keanu]

  In the end, the average American might look at this as a victory. Unfortunately, winning a small battle means losing the war. Having our banks, and businesses fail right now, is only going to hurt the common man very badly. The wall street fat cats will have their millions no matter what and can leave the country laughing in their private jets. We will lose our jobs, and standards of living. No easy way out of decades of abuse. Should have kept the gold standard. 

 
 

[Emmortal]

  In the end, the average American might look at this as a victory. Unfortunately, winning a small battle means losing the war. Having our banks, and businesses fail right now, is only going to hurt the common man very badly. The wall street fat cats will have their millions no matter what and can leave the country laughing in their private jets. We will lose our jobs, and standards of living. No easy way out of decades of abuse. Should have kept the gold standard. 

http://www.bloomberg.com/apps/news?pid=20601085&sid=a66YJ5rkOUPM&refer=europe

Europe is bailing out their banks as we speak.  If we don't do something then we're fucked.  Something has to be done, but there needs to be some oversight to where and how this money gets spent.

[keanu]

You know fuck them

It's not f-them, it's f-us. In the end we'll suffer. Big politics and big business have much deeper pockets then Joe American. This isn't a Wall street issue, it's a global issue.

  The bailout not passing today has everything to do with the upcoming election, not protecting Joe Ameica who isn't well informed and has little idea of how economics work.

  In the end, we are born with nothing and we can't take it with us at death. Have fun, enjoy your health. We are in for some very difficult times ahead.

 

[The Coach]

haha nobody really knows a damn thing about this situation, everybody trying to sound all intellectual when in reality there are probably only a handful of experts in the nation who really fully understand the situation. hahahaha

Best post of this thread.

[The Coach]

A must watch.

[JohnnyVegas]

Let me ask you this.According to many ,including Ron Paul,this isnt legal.Do you think,if they strike a deal,that it will be challenged in court?Can it be challenged?Also,if the next president comes in and gets rid of Paulson and names a new guy,does he get the same power.It seems that they are almost establishing a new branch of government that consists of one guy.

Any law passed by Congress can be challenged in court.

The problem is UNLESS it has to something do with race, gender, ethinicity, or orgin you're going to lose.

Economic laws, as long as there is a rational for them, will be upheld.

Paulson made $500 million with Goldman Sachs before he came on board at Treasury, he was one of the leeches making the big dough off the poor and middle class-I would NOT do ANYTHING he aks for.

I am glad the bailout failed.

If the millionaire and billionaire Wall Street brokers want a bailout-they can pay for it.

[big L dawg]

A must watchttp://www.youtube.com/watch?v=_dmPchuXIXQh