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Discussion in 'Politics, Religion, Social Issues' started by MacNut, Sep 29, 2008.
Bail out bill fails dow down 500.
Glad I got out of the stock market when I did. I was actually doing well until right before I left the market in August. I had Lockheed Martin, Budweiser, ExxonMobile, BP, GE, Johnson & Johnson, IBM, and other stocks that I don't remember at the time. I only left the market because I was going back to school and needed the cash.
In a recession people drink, I know I do, so Beer stocks are probably a good bet, we're in a war, so military hardware is also a good bet, gas prices are up, so oil companies are a good bet. Just remember, don't invest what you can not afford to lose.
The worst part is watching the Republicans, and now the Democrats on TV playing politics. I have 6 words for members of Congress...
Get the eff back to work.
Both sides are out of touch. If they think the american voter is going to agree to a $700 billion bailout that won't help the average citizen. I would vote out every person that voted for it.
i thought mccain saved the day???
Ahhh... the markets responding negatively to something. Reminds me of what happened after each time the Fed tried to get interest rates back to sustainable levels and stop dropping them to meet the demands of Wall Street.
Ron Paul, Sept. 29
The market drop appears to be accelerating, getting faster and faster.
Not surprising. Investors see no leadership.
The President failed to lead and put forth a hastily put together plan.
Pelosi gets up on the floor of the House and slams Republicans before the vote.
Pansy Republicans claim they had the votes until Pelosi's speech.
McCain, you know, the guy who wanted credit for the passage has been silent. Guess he doesn't want to share the blame.
Obama basically silent on this other than politics.
From what I can tell, the Republicans killed this.
They need to get back to the drawing board and put together a group of financial people to lead this effort. People like Warren Buffet, Michael Bloomberg, Mitt Romney.
I read a comment this morning that made absolute sense. And it would, because the person who wrote it is just a normal commoner like the rest of us, not a politician. I'll try to make it short. Enjoy this little something to think about.
Unfortunately their math is way off.
$85,000,000,000/200,000,000=$425 which is about 1000x off what the article quoted, someone added a comma and 3 zeros to their math...
$425 not nearly enough to do anything worthwhile... and hardly enough to put a dent in most people's 401k losses...
Too bad that we don't live in the UK, in which case that math would be OK. In the US we define a billion as 1,000 million.
So $85B=$85,000M do divide by 200M people and you are left with $425 per adult.
No one facing a competitive election in 5 weeks wants to put their neck on the line for this one, and I can't say I blame them.
Good on the HoR.
Question is, what happens next? Members of Congress are itching to get back to their districts because they need to get campaigning. Will Congressional leadership keep them in session, or will they be adjourn to allow them to leave town? Will alternate plans now be considered? Or can this plan be tweaked enough to attract the relatively few more votes needed for passage?
Problem is, 5 weeks is too close to election day for anyone to want to stick their necks out over this, and it's too far away from election day to allow this to remain unresolved until afterwards when cooler heads might prevail.
I wonder if Palin is going to say that now she can't debate Biden unless there is some resolution to this before Thursday...
McCain was bragging about himself on this matter earlier today in Ohio. This was of course before the failed vote.
So this is what if feels like? I'm impressed! For once! I'm actually impressed!
Expect gas prices to go down. Oil fell below $100 a barrel today. link
Here's the full vote tally.
I like how Pelosi tried to pass all the blame to the Reps when 100 Dems voted it down as well.
if one democrat voted against this the republicans would have blamed them
133 republican voted nay.
Logic will prevail
Wasn't McCain supposed to be working to deliver the necessary votes to get this passed? It appears he can't even get the GOP to work with him, let alone the Democrats.
If you can't lead your own caucus, who can you lead?
Because the rest of the caucus wants to get reelected as well. If they vote yes it is suicide.
I don't disagree with you, but I think either side can effortlessly blame the other. From http://campaignspot.nationalreview.com/post/?q=MjkxYjhkMjM2ODY2YzJjNTAwZjFkYmEwOTA4NGJiOGU=
"Pelosi's Excuses Are Garbage
Pelosi, moments ago: "The Democrats more than lived up to their side of the bargain."
Horsepuckey. Pelosi has 235 members. She needed 218. She could spare 17 members and still pass the bill.
The GOP spotted her 65 members, for a bill that made most Republicans' skin crawl in both broad outline and in terms of detail.
That meant Pelosi could afford to lose 82 Democrats.
She lost 95."
This vote was done for political reasons anyway so it doesn't matter.
As of right now AAPL is up in after hours trading. It's them greedy stock brokers taking advantage of the downturn.
Until the Banking industry is regulated this will continue to happen.
Thats the fuzziest logic i think ive ever seen.
I don't think it's logic as much as it's just math.
But like I said above, either side will be able to effortlessly blame the other. Ought to be fun to watch the spinning.
My brother phoned me and told me put on the BBC news. So I sat there and watched the bill fail, the politicians revert to type - blame each other - and the markets go into free fall.
It was all quite amusing in a gallows humour kind of way.
I can't wait to see how the Asian and European markets react when they open. It'll be fun!