Bailout Bill defeated 206-227

[traveller]

That's why the American people are not behind this bill.

The American people are not behind the bill because they want less government, for the most part, and they do not trust their leaders. I agree in theory EXCEPT that I acknowledge history and recognize the importance of our government in times like these. There is a time for everything...and now is the time the Fed puts out the fire. Hopefully we as constituents won;t let our leaders off the hook so easily when this is all behind us.

I heard a really good talk about this earlier today. In essense - all the American people have heard for the past (especially) 4 years is how the government is bad, the big business is bad, and neither to be trusted. Now that we have a problem on wall street, no one trusts anyone anymore. The bad government wants to fix the bad businesses. In reality, it's the mom and pop business that could be hurt the most.

Anyway - it was a better speech than what I've shown here.

[WayneB]

The voting part is totally political. Pelosi went around telling the jr members, and the ones she owed favors to, that they could vote no, because there should be enough republican votes and sr dem votes to carry the yes vote. Supposedly, they (each side) knew what votes they wanted percentage wise to carry the thing - and didn't wish to go beyond that - becasue of making political statements down the road. Also, to appease the constituants back home.

Taht's my take on it, anyways.

That's exactly my understanding as well. The timing of this thing is bad for them and they know it so they're playing "politics" with our future. I expect that by the end of the week, a bill will be passed because this past Monday scared the pants off them. They know that if the vote fails, the markets will plunge another 7% to 10% and they will be held accounatble in November. Remember, the democrats are just a handful of seats away from a 60% majority in the House.

[WayneB]

That's why the American people are not behind this bill.

The American people are not behind the bill because they want less government, for the most part, and they do not trust their leaders. I agree in theory EXCEPT that I acknowledge history and recognize the importance of our government in times like these. There is a time for everything...and now is the time the Fed puts out the fire. Hopefully we as constituents won;t let our leaders off the hook so easily when this is all behind us.

I heard a really good talk about this earlier today. In essense - all the American people have heard for the past (especially) 4 years is how the government is bad, the big business is bad, and neither to be trusted. Now that we have a problem on wall street, no one trusts anyone anymore. The bad government wants to fix the bad businesses. In reality, it's the mom and pop business that could be hurt the most.

Anyway - it was a better speech than what I've shown here.

Sounds spot on.

[Matthitjah]

Here is a commentary by a Harvard Economics Lecturer that has some fine points in it;

http://www.cnn.com/2008/POLITICS/09/29/mir...ref=mpstoryview

Dave...well-written article but it is one economist's opinion....and a Libertarian at that brother. NOT that there is anything wrong with being a Libertarian but his position is exactly what one would expect. His concept that bankrupcy's do not result in closed businesses is a wrong one. In order for a business in bankrupcy (depends what type) to be brought out, there has to be a group of investors who take control. That isn't always the case...

Wayne,

You forgot to take into account his position that these firms are sitting on their failed ledgers instead of selling because they are waiiting on the Government bailout. Why sell now for .10 cents on the Dollar when they can wait for the Government to bail them out at .30 to .50 cents a Dollar?

More Greed!

This plan is actually holding up progress. The bailout is being cooked up by the same folks who forced these firnms into the positions that they find themselves in because of a failed and ill advised housing initiative.

Libertarian or not, it's a valid point.

Peace,

Dave

[Axxman]

The Sky is falling...the sky is falling

Actually it's not. World markets are rising...wall street is stabilizing. We are in for a rough spot...but America's ecomony has been in FAR more trouble because of democrats before...we can handle the democrats again.

What America needs to do is outlaw liberalism. It is their socialistic ecomonic ideology that gets us in this trouble everytime!

[Matthitjah]

A more trusted source in my opinion...

September 23, 2008

The Big Guns

Written by Jeff Thredgold, CSP, President, Thredgold Economic Associates

After applying one financial band-aid after another in recent days, weeks, and months, the U.S. Government was forced to bring out the really big guns during the past few days

[Matthitjah]

That's why the American people are not behind this bill.

The American people are not behind the bill because they want less government, for the most part, and they do not trust their leaders. I agree in theory EXCEPT that I acknowledge history and recognize the importance of our government in times like these. There is a time for everything...and now is the time the Fed puts out the fire. Hopefully we as constituents won;t let our leaders off the hook so easily when this is all behind us.

I heard a really good talk about this earlier today. In essense - all the American people have heard for the past (especially) 4 years is how the government is bad, the big business is bad, and neither to be trusted. Now that we have a problem on wall street, no one trusts anyone anymore. The bad government wants to fix the bad businesses. In reality, it's the mom and pop business that could be hurt the most.

Anyway - it was a better speech than what I've shown here.

Sounds spot on.

That is exactly what I stated earlier on in the thread.

[Rick-Parker]

We need to stop living on credit. There is only one way to get there from here. Let the market do what it should.

[Rick-Parker]

That whole $700,000,000,000 comes out of the taxpayers pockets, of course! I will not have my children and grand children and great grand children to the Nth generation made into little more than serfs to stuff the pockets of crooked Wall Street fat cats!

There are some 70,000,000 households in America, so that comes to 10,000 PER HOUSEHOLD!!! How dare those miserable criminals in Congress try to take $10,000 from each working class household, to give to their billionaire buddies???

If this does not pass, it will be a miracle, for God knows how much money these fat cats have already promised congressmen if they'll just pick our pockets? What's the usual "Kick-Back" our Kleptocracy receives when they rob us?

Leonard, that is simply not true by a long shot but it is the type of rhetoric and misinformation that is feeding fear into people. The $700 billion is simply the Federal Government backing loans that should have NEVER been made but they were. IF the Fed doesn't step in now, thousands of homeowners will lose their homes and thousands of businesses will close their doors.

It is a Mainstreet issue...don't be fooled...not just a Wallstreet issue.

Why should I have to pay for a person who is either greedy, stupid or both? I didn't sign a loan agreement without reading and/or understanding what it said and how much it would cost me to pay the mortgage. Why should I have to pay for a bank lying and giving out loans to people who they knew couldn't pay the mortgage? Why should I have to bail out companies who bundled these mortgages and bought/sold them knowing that housing costs were artificially inflated and would eventually burst. That is what this is all about. We got ourselves into this mess, by living on credit when we didn't have the means to pay for that credit. Let the market work itself out. If it takes a deep recession or even a depression, so be it. And, I have as much to lose as the next middle class person. It is affecting me, too.

[redwing]

The American people need to vote in Term Limits for our representatives in congress.