Facetious
Moderated
Lawmakers:
Financial bailout agreement reached
Wouldn't it be nice if some arrests come with the deal ?
Financial bailout agreement reached
Wouldn't it be nice if some arrests come with the deal ?
Bail out Agreement Reached
- Thread starter Facetious
- Start date
ChefChiTown
The secret ingredient? MY BALLS
I would really like to know how our government can afford to spend $700 BILLION when we're already billions of dollars in debt.
Print more money. What they always do.
om3ga
It's good to be the king...
I understand the FBI has started preliminary investigations into potential corporate fraud at Fannie Mae / Freddie Mac, American International Group and Lehman Brothers.....
Er...they can't - which is where the US taxpayer comes in.....
ChefChiTown
The secret ingredient? MY BALLS
Facetious
Moderated
The U.S. Govt. Realty. . . . We're here to help ! 
I'm certain that they're (FBI) enjoying cocktails at this point. :tongue:
I'm certain that they're (FBI) enjoying cocktails at this point. :tongue:
Agreement in principle.As they say the devil is in the details and that could still take some time I bet.:dunno:
The 700 billon is in addition to the other bailouts so the total is closer to 1.5 trillion.Can we afford it ? Sure we can afford anything as long as people like china and others are willing to keep loaning us the money to cover our massive deficit spending.Crazy isn't it, a country like China can afford to loan a country like the US all kinds of money and still have enough to have a massive internal building program of new infrastructure and development.But were the rich developed country and they are the emerging one,something just ain't Kosher.Maybe its because we spend money on things like 500 billion a year defense budgets(which doesn't include the spending on the wars) and nobody else in the world spends anything close to that.In fact our defense spending is more than most of them all put together.
om3ga
It's good to be the king...
Details:
Financial crisis: Bail-out enslaves US taxpayers
One question that's puzzling me - you're Hank Paulson and you've now got $700 bn in your pocket. Which assets do you consider "toxic" enough to buy up?
Well for the group that says they want smaller gov't, I hope they see the consequences of letting the mortgage industry run wild without governmental oversight. Cost $1.6 T
War in Iraq, no competitive bids, cost plus type remembursement, another costly mistake. Cost $3 T.
ABC World News just said an agreement was not reached today on the bailout deal for $700 billion. Early talk about a compromise was from the democratic side of the table.
War in Iraq, no competitive bids, cost plus type remembursement, another costly mistake. Cost $3 T.
ABC World News just said an agreement was not reached today on the bailout deal for $700 billion. Early talk about a compromise was from the democratic side of the table.
Don't know. They are the first to fail. Many were teaser rates that were below market at the time the got them, so they were going up. As usual, most people went well beyond what they could afford and when the interest rate rise added $100-$200 or more on their monthly payment, they were first to go.
Just like AFA said, the got the printing machine to make money, and I guess our grandsons grandsons will be still paying for it, when this country becomes owned by foreign market share holders.
They will spend a lot more before this hits bottom and becomes a good bet for foreign investors I would think.
http://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/financial_meltdown
House defeats $700B financial markets bailout
WASHINGTON - The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.
Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.
When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle.
Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home.
The vote had been preceded by unusually aggressive White House lobbying, and spokesman Tony Fratto said that Bush had used a "call list" of people he wanted to persuade to vote yes as late as just a short time before the vote.
Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure.
They found only two.
Bush and his economic advisers, as well as congressional leaders in both parties had argued the plan was vital to insulating ordinary Americans from the effects of Wall Street's bad bets. The version that was up for vote Monday was the product of marathon closed-door negotiations on Capitol Hill over the weekend.
"We're all worried about losing our jobs," Rep. Paul Ryan, R-Wis., declared in an impassioned speech in support of the bill before the vote. "Most of us say, 'I want this thing to pass, but I want you to vote for it — not me.' "
With their dire warnings of impending economic doom and their sweeping request for unprecedented sums of money and authority to bail out cash-starved financial firms, Bush and his economic chiefs have focused the attention of world markets on Congress, Ryan added.
"We're in this moment, and if we fail to do the right thing, Heaven help us," he said.
America is getting ready to cut off its nose(not save the financial system) to spite its face(so that the wall street crowd won't be helped).:eek:
House defeats $700B financial markets bailout
WASHINGTON - The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.
Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.
When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle.
Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home.
The vote had been preceded by unusually aggressive White House lobbying, and spokesman Tony Fratto said that Bush had used a "call list" of people he wanted to persuade to vote yes as late as just a short time before the vote.
Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure.
They found only two.
Bush and his economic advisers, as well as congressional leaders in both parties had argued the plan was vital to insulating ordinary Americans from the effects of Wall Street's bad bets. The version that was up for vote Monday was the product of marathon closed-door negotiations on Capitol Hill over the weekend.
"We're all worried about losing our jobs," Rep. Paul Ryan, R-Wis., declared in an impassioned speech in support of the bill before the vote. "Most of us say, 'I want this thing to pass, but I want you to vote for it — not me.' "
With their dire warnings of impending economic doom and their sweeping request for unprecedented sums of money and authority to bail out cash-starved financial firms, Bush and his economic chiefs have focused the attention of world markets on Congress, Ryan added.
"We're in this moment, and if we fail to do the right thing, Heaven help us," he said.
America is getting ready to cut off its nose(not save the financial system) to spite its face(so that the wall street crowd won't be helped).:eek:
no, they are just going to arrest the small percentage of citizens that leave their houses and make a fuss about how they don't want this done, as opposed to the majority of Americans that don't want it done, but aren't going to do anything either because they don't care or they are smart enough to know that the government doesn't care what they think and will gladly crush two civil liberties with one stone.
Facetious
Moderated
OK, the dow is down almost 700 pts.
Maybe this is part of the agreement . . run the market down so they can invest on its low.
A deal could have been reached over the weekend, but let's hold off and make a few billion in the mean time, 'till this deal is finally reached, shall we ?
Do you understand the market ? It works in reverse polarity . . . at times.
Maybe this is part of the agreement . . run the market down so they can invest on its low.
A deal could have been reached over the weekend, but let's hold off and make a few billion in the mean time, 'till this deal is finally reached, shall we ?
Do you understand the market ? It works in reverse polarity . . . at times.
At one point was down 705 but ended down 603. NASDAQ ended down 200. I've never seen it go that low
Dow
http://finance.yahoo.com/q/bc?s=^DJI&t=1d&l=on&z=m&q=l&c=
NASDAQ
http://quote.yahoo.com/q/bc?s=^ixic&t=1d&c=
Dow
http://finance.yahoo.com/q/bc?s=^DJI&t=1d&l=on&z=m&q=l&c=
NASDAQ
http://quote.yahoo.com/q/bc?s=^ixic&t=1d&c=
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