$700 BAILOUT PLAN FAILS TO PASS

you do know what this means right?

democrats didnt vote for it....

because they didnt need the republicans to vote for it to pass, they could have passed it on their own. but a group must have broken step.
 
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Good. Why should a government bail out a failed company. Its business. deal with it.
 
"The measure needs 218 votes for passage. Democrats voted 141 to 94 in

favor of the plan, while Republicans voted 65 to 133 against. That left

the measure with 206 votes for and 227 against."

The bailout package had some ridiculous shit, I'm glad a few of them had their shit together enough to realize it is a desperate and fear-driven proposal that will only make shit worse.
 
but i thought the world was going to end if these company's didnt get money?

i also see it as the reason we needed "bi partisanship" is because the democrats didnt want all the blood of this bill on their hands.
 
... I dunno who you are referring too, but I hope its not me. Yes, these companies need help, but my personal view is that taxpayer dollars shouldnt be wantonly thrown about.

And sure 'bi-partisanship' is a farce, but its not just the democrats trying to stay clean here.
 
i dont feel like spending money on these companies either, but right now we are backed into a corner, and we must help them out. It will be better in the long run, and the gov't may even make money off it
 
o no, this was more or less a general post, my bad for quoting you.

but yeah, if you watched a news show last week, the world is ending! o noes!
 
The reality of the situation is that we're basically fucked either way. This bailout may have eased tensions for a time, but the financial markets did the same thing that average citizens have been doing for the past 30 years, living on credit...... which is the reason everything's going to hell

Apparently the Wachovia bank just "failed" and was sold to Citi. It didn't fail entirely but was headed that direction, so once again a bigger bank has bought a smaller one.

We're running out of big banks to keep doing this stuff.........
 
not everyone's failing......alot of them just have liquidity issues...
now investment banks are gaining charter as a commercial bank in order to combat that short term cash issue
 
THey should take that 700b and divide it amongst every taxpayer with a variable mortgage.

There are about 50 million mortgages in the US. 25% of them are variable rate. divide 700b by 12m..

think that will solve what supposedly caused this meltdown, by stopping the foreclosures?

hahahahahahaha It's over 50k each!
 
isnt that a prime example of inflation? i usually stay out of these hot topics, but i dont know if that would be the best idea, although 50k each sounds awesome.
 
yaaay the american dollar is gonna suck again, no more canadian peso, lets go down there and buy everything we see
 
hahahaha great minds think a like. Seriously though. I didn't get the email.. I just get tired of hearing how bailing out those companies is supposed to help us..

Nothing will help until they either forgive or renegotiate the supposed problem that got us into this mess FIRST.

You have a fire burning out of control.. you don't go rebuild the fire engine, you put the fire out with what you have.
 
How will that help? The TSX is in even worse shape than the DOW, and we depend on the same global economy you guys do. Unless you're planning to move to a small moon in the Alderbaran system, I think you're shit out of luck.

By the way, I'd like to thank John McCain for his leadership in pretending to suspend his campaign, taking 22 hours to make the 1 hour trip to D.C. so that he could get down to working with the Republicans in congress to get a bill together that would pass congress and save everyone from this mess. Great work John, we all owe you big.
 
Boehner: “I believe we could have gotten there today if it weren’t for Speaker Pelosi’s partisan speech.”

Frank: “We don’t believe they had the votes and I think they are covering up the embarrassment of not having the votes. But think about this: somebody hurt my feelings so I will punish the country. I mean that’s hardly plausible. And there were twelve Republicans who were ready to stand up for the economic interest of America but not if anybody insulted them. I’ll make an offer: Give me those twelve people’s names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are, and maybe they’ll now think about the country.”
 
Hate to break it to you, but one of the main reasons we are in this mess is because the taxpayer bought a house and a mortgage they couldn't afford. Or, using the equity in their homes to buy that new boat or SUV or whatever. The average american is retarded for spending and living beyond their means and are in great part to blame, just as Wall Street packaging up these shitty mortgages and selling them as good investments are to blame. We fucked ourselves both ways.

There is no safe haven. We are all in for tough times, some more than others. Unfortunately for those in the US, your goverment has put you in worse shape than most increasing spending by the most obscene levels ever.
 
You can blame the failure of this bill on a lot of things...

There is no way these 12 Republicans are the reason why. 96 Democrats didn't vote for the bill. Why were they punishing the country? Haha I just saw this on the news and I'm really curious...
 
well lets see, we are a capitolist country, and buisnesses are built to succeed, however you will notice with common sense that they all eventually fail... the bail out would have been the complete opposite of capitolism principle, and the inviseble hand of the economy... any way, just my two cents, i am happy it didnt pass
 
I can't believe how many people oppose this bailout. I guess it just shows how few people (not just NS) know anything about the economy and how money markets work. Not even a partial grasp.
 
Nor are they really paying attention to what congress is trying to do to fix things... note the post below yours. People need to wake up and realize that things are not going to get any better anytime soon unless something is done.
 
You're still an idiot.

The bill throughout was negotiated as a bipartisan measure. The democrats said, here are the votes we will provide. The republicans said, here are the votes we will provide. The democrats provided the votes they promised. The republicans did not.

The "punishing the country" remark related to the argument by Boehner that his own party was voting against a measure they had previously grudgingly agreed was necessary for the wellbeing of the country because Pelosi gave a speech that they found insulting. Thus, "punishing the country".

I know you have a history of failing to understand even the most basic of points but please, try as hard as you can to get this sort of thing through your thick skull before inflicting your insights on the rest of us, because contrary to the old proverb, yes, there are stupid questions.
 
these republicans were not doing it because their feelings were hurt. until ti hear someone who switched their vote say it, i think its absurd to say. nancy reminded everyone the ridiculous spending without planning the bush administration has been doing. maybe she reminded them what this 700 billion dollar bailout may be... worthless spending

even if im wrong, your a HUGEE self obsessed douchebag.
 
so people automatically punish america by voting against this bill?

maybe they have ideological conflicts with the way the bill is presented, maybe it doesnt provide enough money? maybe it is giving to much money to CEO's? there are a whole list of reasons to vote against this bill.

the democrats didnt even need any republicans on board, they could have passed it if they wanted. Bush signs, and its all doneski.
 
God you guys are dumb. Boehner, the REPUBLICAN MINORITY LEADER, says that the 12 republican votes he needed changed their minds because they were upset over Nancy Pelosi's speech being overly partisan. The REPUBLICAN LEADER is the one saying this! Not the democratic party, not Barney Frank, and not me. Are you really talking about this not know who's in charge of what in Congress?
 
Yeah. See, it's like this: if you take 12 "no" votes and move them to the "yes" side, that makes 12 less no votes AS WELL AS 12 more yes votes. The balance is a 24 vote swing.
 
You'd be fooling yourself to think that those reasons were good ones.

I feel that the vast majority of the public just looked for a way to make this a partisan issue, then chose the side of their party, without any real consideration of the package or its possible effect. Stop blindly allying with your party, and thats a message to EVERYONE.
 
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