A well planned $350 billion (with option to increase to $700 billion) stimulus package for the economy appears to be making a whole lot more sense for most Americans at the moment. Let the bubble burst and concentrate on speeding up the recovery process.
One would think...but we are talking about the US government after all.Kmarion wrote:
What I didn't understand was how you can commit to having that type of money being made available without have more oversight in place beforehand. Isn't that a long overdue given?
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
Apparently she pissed off both sides of the house.
So you want to reward them for committing fraud by bailing them out? No, you should let them fail, and the market will correct itself.Pierre wrote:
You have too much faith in the free market. Free market led your country to this situation: everyone wanted to make profit, even to the extent they wanted to commit fraud.{M5}Sniper3 wrote:
Who do you think gave John Do those loans? The banks and companies like Fannie Mae and Freddie Mac buying those junk loans. Bad investments = bad business = failure, you cannot reward banks and financial institutions for playing around with no name, no income, no ID, sub-prime loans aka "affordable housing ".
The free market will sort itself out, it will take awhile but it will be better. Now I just hope that the Fed doesn't do anything stupid like lowering interest rates.
I heard the same rumour.Pug wrote:
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
I don't want to bail them out, I only want to prevent the whole economy going broke because of these guys. I'm thinking about the small and medium businesses and their employees that will pay the price for letting it all depend on the free market in the past.{M5}Sniper3 wrote:
So you want to reward them for committing fraud by bailing them out? No, you should let them fail, and the market will correct itself.Pierre wrote:
You have too much faith in the free market. Free market led your country to this situation: everyone wanted to make profit, even to the extent they wanted to commit fraud.{M5}Sniper3 wrote:
Who do you think gave John Do those loans? The banks and companies like Fannie Mae and Freddie Mac buying those junk loans. Bad investments = bad business = failure, you cannot reward banks and financial institutions for playing around with no name, no income, no ID, sub-prime loans aka "affordable housing ".
The free market will sort itself out, it will take awhile but it will be better. Now I just hope that the Fed doesn't do anything stupid like lowering interest rates.
I can't believe that even a politician would purposefully change their mind on one of the most important votes in years on the basis of being annoyed at a speech.CameronPoe wrote:
I heard the same rumour.Pug wrote:
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
Well, here's her speech.CameronPoe wrote:
I heard the same rumour.Pug wrote:
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
True.PureFodder wrote:
I can't believe that even a politician would purposefully change their mind on one of the most important votes in years on the basis of being annoyed at a speech.CameronPoe wrote:
I heard the same rumour.Pug wrote:
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
This vote not going through is a blessing in disguise. Global central banks pumped hundreds of billions of dollars (nearly seven hundred) into money markets today and did it make banks trust each other? No, it did not.
I just wanna give props to Peter DeFazio, the representative from my district, for voting "nay."
This is 700 billion that, 20 years from now, we would have to "bail out" with something bigger and more ridiculous. The USA's archaic economic philosophy and structure is in need of a reboot, and by turning the bailout down, we may get that.
This is 700 billion that, 20 years from now, we would have to "bail out" with something bigger and more ridiculous. The USA's archaic economic philosophy and structure is in need of a reboot, and by turning the bailout down, we may get that.
-777
Wow. Right time to get on a soapbox and engage in political point-scoring? Her speech actually makes reference to how abhorrent the idea of a bailout is!!! Whose side was she on?{M5}Sniper3 wrote:
yeah, that's what I was thinking... she practically explained why I think it should have been voted down... yet...????CameronPoe wrote:
Wow. Right time to get on a soapbox and engage in political point-scoring? Her speech actually makes reference to how abhorrent the idea of a bailout is!!! Whose side was she on?{M5}Sniper3 wrote:
So I see how "pissing of both sides" happened. She made 2 points, and argued 2 philosophies... what a terrible speech.
no fair, they said that she was only going to talk for a minute....screw them man...i saw how long that video isdjphetal wrote:
yeah, that's what I was thinking... she practically explained why I think it should have been voted down... yet...????CameronPoe wrote:
Wow. Right time to get on a soapbox and engage in political point-scoring? Her speech actually makes reference to how abhorrent the idea of a bailout is!!! Whose side was she on?{M5}Sniper3 wrote:
So I see how "pissing of both sides" happened. She made 2 points, and argued 2 philosophies... what a terrible speech.
anyone wanna go get some ice cream?
i feel like spending some $$$
Hmm.
DJ to hit -1000?
When was the last time that happened?
Nasdaq is down almost 10% though.
DJ to hit -1000?
When was the last time that happened?
Nasdaq is down almost 10% though.
what a dottering idiot she is... lol...{M5}Sniper3 wrote:
Well, here's her speech.CameronPoe wrote:
I heard the same rumour.Pug wrote:
I heard a rumor the vote failed had something to do with Pelosi's speech prior to the vote.
Apparently she pissed off both sides of the house.
I think we are better off to let things fall where they may... then rebuild and try not to make the same mistakes again...
Love is the answer
it is froze or are they done for the dayMek-Stizzle wrote:
Hmm.
DJ to hit -1000?
When was the last time that happened?
Nasdaq is down almost 10% though.
http://money.cnn.com/2008/09/29/markets … 2008092916
Well, this couldn't be a more horrible time to try and get a job/get into college..
they finished for today.
tune in tomorrow for more fear mongering and panic sellers!!
tune in tomorrow for more fear mongering and panic sellers!!
Nancy Pelosi was on the side of the American people today ... the pressure on the individual congressman has been great the last 10 days, facebook campaigns, .org websites urging to vote no and send a template no email to your congressman just to mention a few ... google "vote no bailout" and see the results ...
http://www.votenobailout.org/
http://www.votenobailout.org/
Wait behind the line ..............................................................
You should be fine. Four years in college, by about which time everything will be better again!Poseidon wrote:
Well, this couldn't be a more horrible time to try and get a job/get into college..
Yes, from www.impeachbush.comVaregg wrote:
Nancy Pelosi was on the side of the American people today ... the pressure on the individual congressman has been great the last 10 days, facebook campaigns, .org websites urging to vote no and send a template no email to your congressman just to mention a few ... google "vote no bailout" and see the results ...
http://www.votenobailout.org/
Because, after all, the economy has nothing to do with congress nor the American people. It's only Bush.
If you say so ...Pug wrote:
Yes, from www.impeachbush.comVaregg wrote:
Nancy Pelosi was on the side of the American people today ... the pressure on the individual congressman has been great the last 10 days, facebook campaigns, .org websites urging to vote no and send a template no email to your congressman just to mention a few ... google "vote no bailout" and see the results ...
http://www.votenobailout.org/
Because, after all, the economy has nothing to do with congress nor the American people. It's only Bush.
Wait behind the line ..............................................................
how bout getting that loan for college though?CameronPoe wrote:
You should be fine. Four years in college, by about which time everything will be better again!Poseidon wrote:
Well, this couldn't be a more horrible time to try and get a job/get into college..
Just think of the movie "It's a Wonderful Life", the run on their bank.Hurricane2k9 wrote:
It's coming back to me now... I remember some teacher of mine telling us how when your money is in the bank it's not necessarily sitting right there for you but rather in a mass collection of money that the bank uses to lend to others. The idea being that unless there's a bank run, you'll always have access to your funds. And if there's a bank run then the banks have to call in their loans, but the debtors can't pay up, so the banks fail.Locoloki wrote:
if everyone goes to the bank and tries to get their money out, the banks wont have enough money on hand for everyone and then bank will have to sell off its vestments to get the cash you need... i thinkHurricane2k9 wrote:
That's what I've always heard but why exactly?
(excuse my ignorance; my school fucking fails when it comes to teaching us this stuff)