No only for this, but I would LOVE to see EVERY SINGLE INCUMBENT up for re-election voted out of Congress this Fall.
Those bastards are forgetting who they work for!
Those bastards are forgetting who they work for!
House defeats $700B financial markets bailout
- Thread starter Friday on my mind
- Start date
I'm not sure what you mean.Are you mad the bill didn't pass or glad? It not passing apprently is the will of the people.I understand many think Bush has zero credibility and he doesn't of course but it's not just Bush saying if something isn't done it could have dramatic consequences.
I think I understand exactly how they feel they don't want to help the fat cats on Wall st and the financial companies and I can relate to that.Problem is they are a big part of how well this economy which we all depend on does.Probably can't avoid a big recession/depression without helping them as distastefull as that may be.The fat cats are not the ones who will really suffer in a bad economic downturn.
http://news.yahoo.com/s/ap/20080930/ap_on_el_pr/obama;_ylt=Asny_XgsPdRnxKDhR0NKgyNI2ocA
"Obama calls on Americans to support rescue plan"
RENO, Nev. - Democratic presidential candidate Barack Obama on Tuesday called for Americans to get behind attempts to salvage a $700 billion rescue plan for the financial sector, saying that if Wall Street fails ordinary people will also be hurt.
"This is no longer just a Wall Street crisis. It's an American crisis, and it's the American economy that needs this rescue plan," Obama told about 12,000 people at a rally at the University of Nevada at Reno.
Obama said Congress should put aside politics — he didn't mention GOP rival John McCain by name during his remarks — and should act on the legislation quickly.
"To the Democrats and Republicans who opposed this plan yesterday, I say: Step up to the plate and do what's right for this country," he said. "And to all Americans, I say this: If I am president of the United States, this rescue plan will not be the end of what we do to strengthen this economy. It will only be the beginning."
http://news.yahoo.com/s/ap/20080930/ap_on_bi_ge/financial_meltdown
"Lawmakers try to revise bailout, FDIC hike seen"
WASHINGTON - Congressional leaders scrambled Tuesday to come up with changes to help them sell the failed $700 billion financial bailout to rank-and-file members. One idea gathering support: raise the federal deposit insurance limit to reassure nervous savers and help small businesses.
Presidential rivals John McCain and Barack Obama announced separately that they support a plan that some House Republicans had pushed earlier: raising the limit from $100,000 to $250,000. Within hours, the Federal Deposit Insurance Corp. chairman asked Congress for temporary authority to raise the limit by an unspecified amount."
http://news.yahoo.com/s/ap/20080930/ap_on_bi_st_ma_re/wall_street;_ylt=AvUPPLYM7y81jwFBLept4HRI2ocA
"Stocks surge higher, but credit worries persist"
NEW YORK - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.
The recovery in stocks wasn't unexpected as carnage on Wall Street often attracts bargain hunters, though questions remain about how investors will proceed. Without a bailout plan in place to absorb soured mortgage debt and other bad loans from battered banks, investors are left wondering what might restore confidence in lending.
Major stock indexes were almost a sideshow during the session, with the credit markets as the main event. A key rate that banks charge to lend to one another shot higher, a tightening of the availability of credit that could cascade through the economy."
http://news.yahoo.com/s/ap/20080930/ap_on_el_pr/candidates_bailout;_ylt=ApUSipkEwd1ZmC07X8QTV8BI2ocA
"Obama, McCain seek political gain in credit crisis"
DES MOINES - White House rivals John McCain and Barack Obama combined televised attack ads with statesmanlike appeals for bipartisanship on Tuesday as they vied for political gain in the shadow of the worst economic crisis since the Great Depression.
Both men spoke privately with President Bush about the collapse of the financial industry, then publicly made clear their differences with him, McCain more gently than his Democratic rival."
"Obama calls on Americans to support rescue plan"
RENO, Nev. - Democratic presidential candidate Barack Obama on Tuesday called for Americans to get behind attempts to salvage a $700 billion rescue plan for the financial sector, saying that if Wall Street fails ordinary people will also be hurt.
"This is no longer just a Wall Street crisis. It's an American crisis, and it's the American economy that needs this rescue plan," Obama told about 12,000 people at a rally at the University of Nevada at Reno.
Obama said Congress should put aside politics — he didn't mention GOP rival John McCain by name during his remarks — and should act on the legislation quickly.
"To the Democrats and Republicans who opposed this plan yesterday, I say: Step up to the plate and do what's right for this country," he said. "And to all Americans, I say this: If I am president of the United States, this rescue plan will not be the end of what we do to strengthen this economy. It will only be the beginning."
http://news.yahoo.com/s/ap/20080930/ap_on_bi_ge/financial_meltdown
"Lawmakers try to revise bailout, FDIC hike seen"
WASHINGTON - Congressional leaders scrambled Tuesday to come up with changes to help them sell the failed $700 billion financial bailout to rank-and-file members. One idea gathering support: raise the federal deposit insurance limit to reassure nervous savers and help small businesses.
Presidential rivals John McCain and Barack Obama announced separately that they support a plan that some House Republicans had pushed earlier: raising the limit from $100,000 to $250,000. Within hours, the Federal Deposit Insurance Corp. chairman asked Congress for temporary authority to raise the limit by an unspecified amount."
http://news.yahoo.com/s/ap/20080930/ap_on_bi_st_ma_re/wall_street;_ylt=AvUPPLYM7y81jwFBLept4HRI2ocA
"Stocks surge higher, but credit worries persist"
NEW YORK - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.
The recovery in stocks wasn't unexpected as carnage on Wall Street often attracts bargain hunters, though questions remain about how investors will proceed. Without a bailout plan in place to absorb soured mortgage debt and other bad loans from battered banks, investors are left wondering what might restore confidence in lending.
Major stock indexes were almost a sideshow during the session, with the credit markets as the main event. A key rate that banks charge to lend to one another shot higher, a tightening of the availability of credit that could cascade through the economy."
http://news.yahoo.com/s/ap/20080930/ap_on_el_pr/candidates_bailout;_ylt=ApUSipkEwd1ZmC07X8QTV8BI2ocA
"Obama, McCain seek political gain in credit crisis"
DES MOINES - White House rivals John McCain and Barack Obama combined televised attack ads with statesmanlike appeals for bipartisanship on Tuesday as they vied for political gain in the shadow of the worst economic crisis since the Great Depression.
Both men spoke privately with President Bush about the collapse of the financial industry, then publicly made clear their differences with him, McCain more gently than his Democratic rival."
the stocks have risen, not greatly, but to say that the finance industry has collapsed would be to say that i had sex with jenna jameson because I jerked off to one of her movies.
fuck these media vultures. god damn America, I know that everyone thinks it's the end of the world, but we can use a little bit of optimism for once. acting like chicken little isn't helping shit, it's the problem and it's hurting the economy so much more than it is on it's own.
I sure like money. My life is a wee bit easier when i have money.
Yes I want people to have wealth.People 401ks may just be worth nothing as an example.I am all for wealth especially when it's fairly distributed!
But your right a bailout is not lessie faire free market capiltalism.I think its clear that kind of unbridled,unregulated economic system is not up to the demands of modern times.
Oh really. You are more for massive tax cuts redistributed to people who have never worked nor never ever busted their asses off? You want socialism, no matter what the revenue of the person is, I don't think a person with high revenues owes you or the other people a single cents of her revenues. The US capitalistic system have worked fairly for decades, ok we are in an economical crisis but it doesn't mean that people who make decent money have to give a part of their revenues to help others. It is not lessie faire, it is laissez faire. Go tell Alan Greenspan that the free market didn't work, you will be ridiculed harder than you think. Wealth is individual and strictly personal and is not a common thing, if you like sharing common wealth then you are a communist and have not understood since your childhood that in the USA, individualism is what makes the difference and it works on the following everyone for their own head.
What makes you think that the middle class and lower aren't very hard working BTW.Speaking of Alan Greenspan did you know he says Bushes tax cuts should be repealed(those ones for the rich lol) as we have huge defecits and more liabilities coming.Yeah those peole who make fabulous wealth such as on Wall St deserve there money.Don't ya know that the reason this bail out plan was defeated is the American people are saying to hell with them and to hell with any bail out that helps them.I understand how they feel but still think something is needed to keep the economy form imploding.Too bad the fat cats will be helped but what can ya do.
Last edited by a moderator:
http://news.yahoo.com/s/ap/20081002/ap_on_bi_ge/financial_meltdown
"House girds for second try on financial rescue"
WASHINGTON - House members are getting another chance to vote on a financial bailout bill that has infuriated millions of voters after the Senate added tax cuts and other sweeteners and passed it handily.
Senators advanced the much-criticized measure in a 74-25 vote late Wednesday, sending it to the other side of the Capitol for a showdown vote expected Friday. The move was calculated to win over enough dissenting House members to get the bill through and reverse Monday's stunning defeat in the H ouse. Party leaders there planned to press rank-and-file members Thursday for the dozen converts they believe they need.
President Bush will continue lobbying, too, with the argument that businesses are having a tough time financing operations and payroll and need help. A day ahead of the House vote, Bush called business leaders to the White House on Thursday to make his case for the $700-billion package.
"The president will note how important it is to pass the financial rescue legislation to help to free up credit in our economy," said White House spokesman Tony Fratto. "These business owners know the consequences if the situation gets worse, so the crisis is urgent for these businesses."
On another front, the head of the Federal Deposit Insurance Corporation, urged people to remain calm."
"House girds for second try on financial rescue"
WASHINGTON - House members are getting another chance to vote on a financial bailout bill that has infuriated millions of voters after the Senate added tax cuts and other sweeteners and passed it handily.
Senators advanced the much-criticized measure in a 74-25 vote late Wednesday, sending it to the other side of the Capitol for a showdown vote expected Friday. The move was calculated to win over enough dissenting House members to get the bill through and reverse Monday's stunning defeat in the H ouse. Party leaders there planned to press rank-and-file members Thursday for the dozen converts they believe they need.
President Bush will continue lobbying, too, with the argument that businesses are having a tough time financing operations and payroll and need help. A day ahead of the House vote, Bush called business leaders to the White House on Thursday to make his case for the $700-billion package.
"The president will note how important it is to pass the financial rescue legislation to help to free up credit in our economy," said White House spokesman Tony Fratto. "These business owners know the consequences if the situation gets worse, so the crisis is urgent for these businesses."
On another front, the head of the Federal Deposit Insurance Corporation, urged people to remain calm."
The house passed it.
The recession that was inevitable probably just got worse.
And if you have any assets in US dollars, sell them fast. Because the dollar is going down. Maybe not today, but down it will go.
Question?
What happens in 12-36 months when Wall Street comes looking for more money?
The recession that was inevitable probably just got worse.
And if you have any assets in US dollars, sell them fast. Because the dollar is going down. Maybe not today, but down it will go.
Question?
What happens in 12-36 months when Wall Street comes looking for more money?
Jagger69
Three lullabies in an ancient tongue
It pissed me off to no end that we have to do this. These greedy cocksuckers (the corporate and Wall Street crowd) have fucked this economy so bad and now we have to fork over the money to avoid financial Armageddon.
I hate it but I would hate to lose my entire investment package, social security, house, everything. It's pick your poison....and it sucks BIG TIME. Our grandchildren will spit on our graves....what a fucking legacy.
I hate it but I would hate to lose my entire investment package, social security, house, everything. It's pick your poison....and it sucks BIG TIME. Our grandchildren will spit on our graves....what a fucking legacy.
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