Bailout Legislation FAILS!
September 29th, 2008 | by Ken Grandlund |The BAILOUT OF WALL STREET CRUMBLES!
Personally, I called my Representative and Senators and told them to vote no. The revised legislation on the table screwed homeowners, mortgage holders, the taxpayers and did NOTHING to stop the greed and excess of Wall Street. The stock market is plummeting.
Discuss…
11 Responses to “Bailout Legislation FAILS!”
By Jet Netwal on Sep 29, 2008 | Reply
I’m with you, Kem. This is a little wonky, but it’s good. http://caseymulligan.blogspot.com/2008/09/wall-street-will-drown-alone.html
By Steve O on Sep 29, 2008 | Reply
I couldn’t be happier that this bill FAILED!!!
Up the Republic and fuck the queen!!!!
At the end of the day we will all be better people for this.
We all saw what a half assed passed bill such as Sarbanes/Oxley did after Enron. For fuck sake, think this thing through and vote smartly!
By steve on Sep 29, 2008 | Reply
George Carlin said he liked natural disasters because of body counts. He loved it when body counts piled up and wished for them to get bigger even if he was saddened by the tragedy.
I am sitting with Fox News on in the background, Tom Sullivan streaming and a Yahoo clicker on.
Down 700 points!! Lets get 1000!!! Woo Hoo!! One hour left… SELL!!1!!! SELL!!1!!! SELL!!1!!! SELL!!1!!! SELL!!1!!!
By steve on Sep 29, 2008 | Reply
I have last almost 10K on paper…LOL!!!
By steve on Sep 29, 2008 | Reply
lost
By Ken Grandlund on Sep 29, 2008 | Reply
sorry about your paper losses steve. i didn’t suffer too much today- my gold went up and last week i transferred most of my 401k into a (now federally insured) money market fund.
i sold of all of my meager stocks last week too and stopped that freefall before i lost it all.
proactive to a point.
the bailout plan was not well crafted and deserved to fail.
By Jet Netwal on Sep 29, 2008 | Reply
I put every thing into bonds 3 months ago. No guarantees there, but so far I’m holding up.
The bailout plan was a gimme bandaid. I think I’d rather see a little more blood for my money.
By rube cretin on Sep 29, 2008 | Reply
gold or silver. not god or silver stocks. only those things that you can take physical possession of. bury it in the back yard or any other place where only you know where it is. do not trust anyone. Every time you go grocery shopping purchase 5 lbs. of beans or rice. My personsal motto is: I’d rather be prepared and wrong than unprepared and right.
By Craig R. Harmon on Sep 30, 2008 | Reply
I don’t claim to know enough about the bill (or the crisis, if it is that) to be happy or angry that the bill failed. My only comment is about the Democratic press conference following the failure. Some rather predictably blamed the Republicans in the House for not voting for it. Well, first of all, the Democrats have a majority in both chambers. If the bill was so damn good, why didn’t the Dems just all vote for the thing? That it failed in the House, where the minority doesn’t even have the filibuster to prevent a vote to fall back upon, the Dems can hardly blame the Republicans for the bill not passing since the failure points to a number of Democrats who also voted no.
Indeed, the problem was not the Republicans; the problem was the bill: it failed to garner a sufficient number of votes to pass. Legislators, particularly those in the House, must face their constituents and answer for their votes. That means there are no wrong votes except those votes that run counter to the wishes of the majority of the folks these legislators represent. You can bet those legislators were hearing from their constituents and their votes, I assume, reflected the legislators’ determination of the likely response from their constituents to their votes.
Politics is about compromise between representatives of hundreds of millions of Americans from different regions with different political positions and expectations of their representatives in Congress. No bill that doesn’t give a majority of legislators what they and their constituents want does not deserve to pass.
By Craig R. Harmon on Sep 30, 2008 | Reply
Damn double negatives!
Should read:
By Chris Radulich on Sep 30, 2008 | Reply
I would say that the voters were a big reason it did not pass. None of us have a real good feel for the problem or how to solve it. Nobody is going to just trust the administration. So we flounder until there is more certainty which will probable only be in hindsight.