U.S House is failing to pass the Bailout Bill; Stock Market is Currently Plummeting

Again, the Dem's leadership delivered 2/3 of their party. I know that means nothing to you but I think it's outstanding considering the size of the bill.

 

You wish. This bill won't pass.

BTW, did you know even Clinton is critical of the dems on this fiasco ?

 

It means that Harry Reed and Nancy Pelosi are is ineffective as you say Bush is.

 

America has been BANKRUPY for many years. They just don't wan't us to know it.
I just heard the President make a short speech about 3:45 pm, and he said that he was going to get the bill passed.
I sure hope he doesn't write a "PRESIDENTUAL EXECTIVE ORDER."

 

America is not thrilled with this bill. And no leadership needs to be in control of the other representatives. That would be contrary to the way our system is set up.It suggests that our representatives should be beholden to the leadership rather than the American people.

The Democratic lead congress has lost much in the polls long before this came up. The lowest in history. Since 95 Democrats voted against this it does not appear that this is as supported by many of Americans on either side of politics. Thank God.

 

Give folks a little bit of credit... maybe some folks (I'm one of them) believe that it isn't the government's job to run private business, and it isn't their job to take my money and bail out some fella because of poor business practices.

And I figured you'd take a swipe at Palin. Guess I was right...:saint:

 

Well, what other bills were attached to this one that are pork. Have you ever known Congress to pass one individual bill without others being attached to it?

At least the House is listening to the constituents for once....

 

You've got it right!

If people wanted to do a little research they could quickly learn that the reason for the mortgage crisis rests squarely with the social re-engineering ideas and the Community Reinvestment Act. It beats me why people now want look to the same group - Congress - to solve the problem they've created. It's good that the Republicans prevailed for a while longer on this but sooner or later the Congress - Democrats and Republicans - are going to figure out how to take your money and give it away to people that made bad loans and people that didn't pay back their loans.

By the way here's a good quote from John McCain circa 2005: "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a while." It looks like he was "right" again, Obama! The Democrats, on the other hand, at the same time were more concerned about the Republicans trying to "... cripple the ability of Fannie Mae and Freddie Mac to carry out thier mission of expanding home-ownership." What was Obama saying back then?

 

2/3 is ineffective??? Wow, you're hard to please...

 

The vote this afternoon brought me out of a funk I had been in since Saturday Afternoon. Listening to all the pundits (mistake there) this bailout bill appeared a slam dunk. But, House Republicans restored my faith for all few days anyway. Republicans have a way of pulling defeat from the jaws of victory though.

War Eagle!

 

I agree with your theory but as you know, that is not how it works on the Hill. There are party leaders whose effectiveness is based on their ability to lead their party which includes backing and support during votes.

I agree with this also, I am not a registered democrat so this doesn't bother me. In fact, I voted for my Republican Senator who is still on the Hill. Opinion polls vote for congress as a whole and not the Democrats vs Republicans'. We all know the Republicans have this radical ultra-conservative right group who stymies most bills to include this one. I understand know it's the same politics that made the Dem's accuse McCain of stopping the great negotiations.

 

Did I mention Palin? I was talking about McCain and his trying to cancel the Presidential debate. Now I believe he will play games with the VEEP debate. Time will tell.

I have nothing to say about people not wanting government running private businesses but the president made this sound urgent and it's being compared to the great depression. If that is true then we all should take a bite of the bullet and chew our portion be it happily or not.

 

Correct, McCain was right about Fannie and right about the surge. Since we're pulling out records, let's see how much he was wrong about to include the 90% in agreement with Bush votes... Shall we?

How about to invade Iraq? He was wrong. Should I continue?

 

How many other topics do you want to debate in this thread about the bailout?

 

I'm glad the vast majority of Republicans voted against this major step towards socialism. I'm glad they didn't yield to the fear of "$700 billion or else" even if it does create some short term problems. I'd rather take some losses in the market than give up more money to the government. Maybe the economy will take its own course as it should without government intervention. If we'd just do that then we would not have to worry about blaming the government when things go bad nor would we let them take the credit for things when they go good. A strong economy is the result of the work of individual and corporate enterprise making and exchanging goods and services of value based upon supply and demand. Social re-engineering efforts like the Community Reinvestment Act obviously hurt that process.

 

Right is right and wrong is wrong. On Economics. McCain has been more wrong that right in my view.

Even wrong is right sometime...

 

Wrong is never right.

 

I read this today on another site:

Unlike other stocks, Procter & Gamble (PG) has only showed a minor loss today (down only around 1% at this writing).

On one of the news channels, they were just talking to a P&G spokesman, and asks why he thinks his company has remained so strong in today's market.

The spokeman replied, "There are 3 major reasons:
1) Any risks we take are carefully evaluated
2) We do all we can to keep our company's financial fundamentals strong
3) We make Pepto-Bismol."

Rob

 

I didn't support it either. It seemed to be a bailout of fat cats on wall street who had lost their bets and were threatening to bring the country down. The consequence of the failure of this bill to pass will be seen tonight, however. There is a non-zero probability that the credit markets will seize-up despite the infusion of $660B by the US Fed. What that means is credit cards won't work tomorrow.