WOW.....bailout plan voted down....

S

Steve Sutton

Well-known member
with large numbers of BOTH parties voting NO....and if you believe what you hear in the news, (all stations), a big part of it is that those who voted NO did so because they were afraid of the effect that a YES vote would have on their upcoming re-election bids....

Stock market is down close to 700 points. The dollar dropped. Treasury Bills are down. Oil is down. Oil is down. And the "problem" seems to be cropping up Worldwide withBanks and lending institutions...

Looks like those people that recently stated that they'd rather see a deep depression than to bail out the deadbeats that weren't smart enough to know that they couldn't afford what they had signed for are going to get their wish...

If I still have a job and can afford the cost to stay hooked up to this thing in a year I'll check in with to see if they still feel the same...

Faced with a enormous problem a man was once asked..."well is this a mess"?.....to which he responded...."well if it ain't it will sure do till one shows up"....

Gonna be a bumpy ride for sure.

Steve
 
I think we are in for some scary times if both our leaders and the people of this country don't come to their sense soon.
I don't like the bailout but see it as a nessecary evil, just like banking & investment re-regulation.
And the people in this country need to start spending within their means and saving money like our grandparents taught us. Keeping up with the Jones's and rampant consumerism was bound to bite in the ass sooner or later, and now it has.
 
Not sure whether wall st just had a hissy fit or not. I was kind of hoping it would be voted down. I would rather they come up with a little better bill instead of trying to jam this one down our throats. The ones that voted no were listening to their constituents which means they were doing what they are supposed to do. Taxation without representation is what started this country. If this problem needs to be fixed in one week, then there is a lot more wrong that is going to show up shortly. In the true spirit of partisanship, Pelosi blew it wide open with her little speech before the vote.
 
the largest ONE DAY DROP in history.....

I wouldn't argue wanting a "better" plan or even waiting a few more days for it.....but for God's sake quit "announcing" that "IT's DONE" only to have the vote come back "NO" for what, the third or fourth time? (I know this was the first "official" vote but they've announced previously "we did it" only to have that not to be true).....

IDIOTS.....

Steve
 
While it is the biggest one day drop in points it is faaaaaaaaaaaaaaaaar from the biggest in percentage. A drop 20 years ago was over 20% so lets just calm down a bit.
Talking about idiots according to CBS the drop today was 10%, no wonder people in this country can't figure out how much they can ever pay back.
*Edited to almost apologize to CBS. It sounded like they said the 777 drop was 10% but they actually said that the nasdaq also dropped 10%... and it didn't. 9% is 9% not nearly 10%.

The announcements of a 'deal' all the time are sure not helping anything either way you look at it.

Tim
 
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Black Monday 1929 - 13%
Black Tuesday 1929 - 12%

Note: The stock market didn't recover until the 1950's!

Black Monday 1987 - 22%
Black Monday 2008 (today) - 7%

We will survive. We will recover. By the time I am able to touch the first cent of my 401K, I'm sure that we will have been through 3 or 4 more of these...
 
My money's in the stable value fund, been there since February. HaaaaaaaaHAaaaaaaaaaaaaaa!!!!

Hitch
 
to be celebrating staying even before inflation....

Congratulations on that but it certainly isn't something to celebrate over given the longterm inplications to everything that you have worked for, towards and hold dear.....

Never fear though....quality decoys and collectible books will be more affordable since many that own them will have to dump them at reduced prices just to pay the mortgage.....

yep.....hahahahhahahahhahahhaha's are definately in order.....

Steve
 
and if things get tough I should be able to quiet John's lauging about "staying even" by offering him "special deals" on decoys and books until he runs out of money, or at least under the President starts spelling his last name OBAMA.......

Steve
 
"Well, is this a mess?" "If it ain't it will sure do til one shows up!"
This line was uttered by Tommy Lee Jones in a great movie called No country for old men.
I don't know if he was the author but it sure does fit this situation!
"Say your prayers and save your money!"
 
.42---hahahahahahhahahahahha

Ken, remember in the end when he asks the lady he lives with if she wants to go for a ride with him....and she says...."some of us have to work"?......gonna be a long time before a good number of us are able to "take a ride" with Tommy even after planning for years to be able to do so.....

Steve
 
Buy as much GIFI as you can. They're making money hand over fist, and the PE is 10 right now. They have no debt. They'll have more work than they can ever do after those hurricanes. No matter what, people have to buy oil, and someone has to have the rigs to get it out of the ground.

Ed.
 
I find it exactly what it is, greed of corpt and institional buyers selling morages with adjustiable rates, the sub prime, ect of course we are in a golbal econony so
what effects one country will effect many others. i find it interesting that members of the Presidents party will not support his efforts. The
bailout will pass but I would have voted against this bill all so as a lesson needs to be learned.....its a shame we live in a time of fear that seems

to be the theme of this administration. The same thing happen in Russia but no bailout due to the same reason corruption and greed. The part
is the little guys get hurt in the process of this corruption and greed while the ten major ceo took there loot and ran
 
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