Bailout bill fails

http://money.cnn.com/2008/09/29/news...ex.htm?cnn=yes

[dalakhani]

This is going to sound terrible but there is only one word that can capture the true essence of what is happening in the market right now: sodomy.

God help us.

[DerbyCat]

This is actually a brilliant move by the Republican Party... they don't pass the recovery bill today so the market crashes. The rich folks buy up lots of under valued stocks, then McCain gets his party to unite and pass a bill within a matter of days, the markets rebound like it's on a trampoline and the rich sell their stocks for a handsome profit. McCain saves the country and wins in November by a landslide - Republicans win all the way around - really a brilliant move

[geeker2]

Let the blame game begin......

[CSC]

Posted in the wrong section, anyway it isn't going to be pretty, hold tight and try not to let emotions get the better of us. Hopefully the bottom is not far away.

[SCUDSBROTHER]

Originally Posted by dalakhani

This is going to sound terrible but there is only one word that can capture the true essence of what is happening in the market right now: sodomy.

God help us.

Good. They deserve it. Gov't doesn't have the money to give. Either have to borrow it, or print it. So, for people (like myself) that have their money in dollars, the last thing we want our Gov't doing is printing more, and destroying 10-20% of our money's value. That's what this would do. Do I care that people won't be able to get loans? I live within my means for operating expenses. I care, but people need to get back to living off the money they have. THIS IS HOPEFULLY THE START OF AMERICANS LIVING WITHIN THEIR MEANS. Not just regular Americans, but the companies that they keep trying to scare everybody with. Everybody needs to wake up, and stop living off credit. I don't do that, and I am in no hurry to bail out companies that say they need credit. Stop giving your CEO 40 million a year while claiming you can't get money to cover daily operating expenses. Tired of it. I was made fun of for not putting my money in this or that. I refused. The people saying this has to be done are the same people telling me I had to invest in this or that. Too bad. I ain't for bailing you out because you gambled with your money in stocks , or anything else. That's one reason they tell you this has to be done(if you don't then they will lose money on their stocks etc.) FCK OFF.

[wiphan]

Originally Posted by SCUDSBROTHER

Good. They deserve it. Gov't doesn't have the money to give. Either have to borrow it, or print it. So, for people (like myself) that have their money in dollars, the last thing we want our Gov't doing is printing more, and destroying 10-20% of our money's value. That's what this would do. Do I care that people won't be able to get loans? I live within my means for operating expenses. I care, but people need to get back to living off the money they have. THIS IS HOPEFULLY THE START OF AMERICANS LIVING WITHIN THEIR MEANS. Not just regular Americans, but the companies that they keep trying to scare everybody with. Everybody needs to wake up, and stop living off credit. I don't do that, and I am in no hurry to bail out companies that say they need credit. Stop giving your CEO 40 million a year while claiming you can't get money to cover daily operating expenses. Tired of it.

YOU JUST DON'T GET IT!

[Danzig]

no, he doesn't. everyone has debt, the point is not to have too much, and to use your available credit wisely.
so, the loans tighten up. folks can't buy houses, cars, whatever. what do you think happens, scuds, to those in the housing and real estate businesses, dealerships, factories, etc, etc? they lose their jobs because the buying well dries up. not everyone can pay cash for every big ticket item they buy. and, like a small snowball that you push over the edge, it just gets larger and larger as it rolls down hill....more jobs lost, less money, and so it goes.

i never thought about this outcome, the bill not passing. back to the drawing board, and hopefully a solution.

Originally Posted by DerbyCat

This is actually a brilliant move by the Republican Party... they don't pass the recovery bill today so the market crashes. The rich folks buy up lots of under valued stocks, then McCain gets his party to unite and pass a bill within a matter of days, the markets rebound like it's on a trampoline and the rich sell their stocks for a handsome profit. McCain saves the country and wins in November by a landslide - Republicans win all the way around - really a brilliant move

Over 90 democrats voted no. Pelosi had to make a partisan speech before the vote.

[ateamstupid]

Originally Posted by Coach Pants

Over 90 democrats voted no. Pelosi had to make a partisan speech before the vote.

More Democrats voted yes than no. It's pretty funny seeing John Boehner blaming Pelosi and 'partisanship' for the bill failing when over two-thirds of his party voted no.

[SCUDSBROTHER]

Originally Posted by Danzig

no, he doesn't. everyone has debt, the point is not to have too much, and to use your available credit wisely.
so, the loans tighten up. folks can't buy houses, cars, whatever. what do you think happens, scuds, to those in the housing and real estate businesses, dealerships, factories, etc, etc? they lose their jobs because the buying well dries up. not everyone can pay cash for every big ticket item they buy. and, like a small snowball that you push over the edge, it just gets larger and larger as it rolls down hill....more jobs lost, less money, and so it goes.

i never thought about this outcome, the bill not passing. back to the drawing board, and hopefully a solution.

I DON'T HAVE DEBT. What will happen? Americans will have to start to live with discipline. Americans need to try it. THIS BILL FAILED, because we are not for pissing away the value of our savings just to socialize the losses of crooks, and people that gambled in the stock market. Be responsible next time. We don't want to socialize these losses. That's just the way it is. If you can't get new loans, then don't buy it. Revolutionary!! We need to correct the way Americans act with money. Start.

Originally Posted by ateamstupid

More Democrats voted yes than no. It's pretty funny seeing John Boehner blaming 'partisanship' for the bill failing when over two-thirds of his party voted no.

Not enough did. Over 90 (94?) voted no and they are the reason why the bill didn't pass. That and the idiot Pelosi with her grandstanding partisan hackery speech that turned about 12 republicans votes the other way.

There are idiots in both parties. Deal with it and spare me the bulls.hit.

[SCUDSBROTHER]

Originally Posted by ateamstupid

More Democrats voted yes than no. It's pretty funny seeing John Boehner blaming Pelosi and 'partisanship' for the bill failing when over two-thirds of his party voted no.

That guy isn't much. The Ohio Italian guy with the bad toupee(who went to jail) would be better.

Originally Posted by SCUDSBROTHER

I DON'T HAVE DEBT. What will happen? Americans will have to start to live with discipline. Americans need to try it. THIS BILL FAILED, because we are not for pissing away the value of our savings just to socialize the losses of crooks, and people that gambled in the stock market. Be responsible next time. We don't want to socialize these losses. That's just the way it is. If you can't get new loans, then don't buy it. Revolutionary!! We need to correct the way Americans act with money. Start.

Yes that'll solve this problem.

[2MinsToPost]

Originally Posted by SCUDSBROTHER

Good. They deserve it. Gov't doesn't have the money to give. Either have to borrow it, or print it. So, for people (like myself) that have their money in dollars, the last thing we want our Gov't doing is printing more, and destroying 10-20% of our money's value. That's what this would do. Do I care that people won't be able to get loans? I live within my means for operating expenses. I care, but people need to get back to living off the money they have. THIS IS HOPEFULLY THE START OF AMERICANS LIVING WITHIN THEIR MEANS. Not just regular Americans, but the companies that they keep trying to scare everybody with. Everybody needs to wake up, and stop living off credit. I don't do that, and I am in no hurry to bail out companies that say they need credit. Stop giving your CEO 40 million a year while claiming you can't get money to cover daily operating expenses. Tired of it. I was made fun of for not putting my money in this or that. I refused. The people saying this has to be done are the same people telling me I had to invest in this or that. Too bad. I ain't for bailing you out because you gambled with your money in stocks , or anything else. That's one reason they tell you this has to be done(if you don't then they will lose money on their stocks etc.) FCK OFF.

Scudds I agree 100%, FANTASTIC POST!

[Danzig]

Originally Posted by SCUDSBROTHER

I DON'T HAVE DEBT. What will happen? Americans will have to start to live with discipline. Americans need to try it. THIS BILL FAILED, because we are not for pissing away the value of our savings just to socialize the losses of crooks, and people that gambled in the stock market. Be responsible next time. We don't want to socialize these losses. That's just the way it is. If you can't get new loans, then don't buy it. Revolutionary!! We need to correct the way Americans act with money. Start.

you don't pay a car note, own a house with a mortgage? i have very little debt myself, but i have some all the same. you can make debt work for you-i mean, who can save the tens of thousands of dollars it takes to buy a house so as to avoid a mortgage?
and go tell all the autoworkers they're all out of work, as no one can borrow. yeah, that'll make their day.
and everyone who has a 401k is in the stock market to some degree.

[philcski]

http://www.derbytrail.com/forums/sho...734#post426734

[ninetoone]

Hey, I just looked, the Dow is down 777, maybe that's good luck

Originally Posted by Danzig

you don't pay a car note, own a house with a mortgage? i have very little debt myself, but i have some all the same. you can make debt work for you-i mean, who can save the tens of thousands of dollars it takes to buy a house so as to avoid a mortgage?
and go tell all the autoworkers they're all out of work, as no one can borrow. yeah, that'll make their day.
and everyone who has a 401k is in the stock market to some degree.

Oh pffft. It's not like all the people who will lose their jobs because of this won't be able to find a new job.

[wiphan]

Originally Posted by SCUDSBROTHER

I DON'T HAVE DEBT. What will happen? Americans will have to start to live with discipline. Americans need to try it. THIS BILL FAILED, because we are not for pissing away the value of our savings just to socialize the losses of crooks, and people that gambled in the stock market. Be responsible next time. We don't want to socialize these losses. That's just the way it is. If you can't get new loans, then don't buy it. Revolutionary!! We need to correct the way Americans act with money. Start.

Your right, we should all work, save our $ and put it under our mattress in our rented house and as soon as we save $200,000+(depending on where you live) we can look at buying that home. I will need to buy a gun and protect my house and my cash for fear of theives because I can not insure the cash that I have saved because I can't use an insurance company, etc. and if my home happens to burn down, flood, or be robbed I lose everything I worked for and I have to start over. Your system works awesome! I am not sure why I didn't think of it first.