House Passes Wall Street Bailout Bill 263-171
By SilentPatriot Thursday Oct 02, 2008 1:20pm
The original vote was defeated 228-205, meaning a whopping 58 members changed their minds and voted for the bill. I'm sure they got an ear full from constituents over the past week or so. Unsurprisingly, Boehner was still unable to deliver half his caucus. It's pretty funny to see House Republicans run around claiming to be acting on true conservative principles. Where the hell have you all been for the past eight years of George Bush?
The House has approved a massive Wall Street bailout four days after rejecting a similar measure.
The measure was approved in a 263 to 171 vote, with 172 Democrats and 91 Republicans offering support.
The House voted against a similar measure on Monday, which caused the Dow Jones Industrial to plunge by 778 points — the greatest single-day drop in the average’s history.
Wall Street's reaction is tepid, with the Dow gaining about 120 points so far. The other indices both rose a little more than 1% .
The House of Representatives had been under severe pressure to pass the $700 billion rescue package for banks and other financial firms after figures showed today that American employers slashed 159,000 jobs last month. September's job losses were much more severe than predicted by Wall Street economists, who had forecast 100,000 jobs would be cut. The unemployment rate is at 6.1 per cent, the highest in five years.
Around the world, calls had come for the US House to pass the bailout bill.
Francois Fillon, the French Prime Minister, said the world stood on the "edge of the abyss".
Mr Fillon, whose country is hosting an emergency summit with Italian, British and German leaders on Saturday, said only collective action could solve the financial crisis. He said he would not rule out any solution to stop any bank failing.
"The world is on the edge of the abyss because of an irresponsible system," he said, alluding to widespread anger over past lax regulation of financial markets and excessive lending.
To make the bill more attractive, the Senate raised the ceiling on federal insurance for bank deposits from $100,000 to $250,000 dollars, and added up to $150 billion in tax break extensions for middle class families and business.
Login or Register to post comments.
Aw jeez!
"It is a crisis. It's a toxic mess, really, on Main Street that's affecting Wall Street. And now we have to be ever vigilant and also making sure that credit markets don't seize up. That's where the Main Streeters like me, that's where we would really feel the effects."
No surprise now that they added 150 billion in tax breaks and other incentives. They don't want to help the country unless they can get something out of it.
BREAKING!!
House hears Rage of the People; expands wool research!
Socialists Wall Streeters!
So, without any mean, nasty, partisan remarks made by Pelosi; Boehner is STILL UNABLE to deliver a majority?
What happened to McCain's intervention? Don't tell me that didn't work, either?
I'm shocked! Shocked, I tell you!
Bush/McCain/GOP economy: Jobs report grimmer than expected http://meteor-blades.dailykos.com/
They just voted us into the third world. The system works!
....there's going to a lot more whiners in the unemployment line but Phil Gramm will still get his paychecks.
Good job guys. The dollar is dead. Buy gold or other precious metals before you lose everything.
So the Dems own this now, right? For better or for worse.
The Patriot Act passed with the threat of Anthrax.
The Bailout Bill passed with the threat of Martial Law.
Here is U.S. Representative Brad Sherman telling you about it.
http://fr.youtube.com/watch?v=HaG9d_4zij8
GuyCybershy @ 8:
How fitting a chimp leads us into a banana republic.
SoCalLib @ 6:
I hope that the Dems continue to repeat this very fact about McCain's drama queen antics for the last two weeks as well as his lack of leadership ability.
Who's going to trust a man who displayed not a whit of aptitude since his days in the military?
killthefed @ 10:
pharmaceuticals!
birth control, blood pressure, prozac
the prices are gonna go through the fuukin ROOF...
oh, yeah, Roofies, too
Ruthless People @ 13:
How so? Can you explain in clear detail why?
I want to see an accounting of how they will spend that money. Wait, I'm asking for too much again. WTF?
We just let Bush bankrupt us.
That's only half the picture.
A $630 billion dollar shadow bail-out went on this week that nobody's talking about.
http://news.google.com/news?sourceid=gmail&tab=wn&hl=en&ie=UTF-8&ncl=125...
So the true amount of money that just flowed out of the the US Treasury in just one week is closer to $1.5 trillion dollars, or roughly triple the amount that we've spent in Iraq in the last 5 years.
Somebody please tell me how any of this is a good thing?
Thanks!
The Dims now own the economic crisis.
Mission: Accomplished...
I just hope the Wall Street Bailout brakes work on this financial crises for all concerned.....
There should be some kind of accountability for this amuck ridden deregulation....
I wonder if our international banking partners will demand it considering the dire impact on their respective countries....
The Very Bitter Ceci Hussein @ 14:
And crashing your million-dollar fighter aircraft SEVERAL TIMES displays aptitude?
Meanwhile, the Economic Girlie-Man Cries Out for Help
can't wait to see Boehner crying on the news tonight.
Nyc Labrets @ 18:
Economic fears always are precursors to tremendous opportunities for the theft and/or misappriopriation of federaql funds.
They are almost always self-fulfilling prophesies, too.
If the Money Guys predict a shit-storm, there WILL BE a shit-storm.
Gay-ron-fuukin-TEED, chers...
The dow has now gone into the red. Go figure.
Wouldn't $150 billion buy just about every pig on the planet?
So they shot the works? Bought all the pork there was?
No pork for you. No pork for me.
DEPRESSION IS COMING SOON. STOCK UP ON FOOD!
Congressional Democrats were threatened with national martial law if they didn't pass this bill. Now we don't have much time to sock up. Prepare yourselves.
Political discourse will soon be thing of the past. We are about to reap what we've sown as an apathetic society.
Good luck!
happy @ 17:
Mebbe.
But fer sher, The Bushiviks, and the Congress--to the enthusiaastic chorus of approving DIM voices--just drowned "social" spending for the foreseeable future in Grover fucking Norquist's fucking bathtub.
Maniacs.
As the proud part owner of $700 billion (estimated but unverified value) in toxic debt our President just described as "troubled assets" I am titillated at the prospect of our new VP posting it all on E-bay. Then she will have her un-chef serve us Crap Sandwiches.
And now they can blame Bush and the Democrats for the unpopularity of this bill.
Average Guy @ 27:
People starved to death in the Depression.
With so many more people and not so many family farms I wonder if it could get much worse than the Great Depression.
The Shock Doctrine ~ Naomi Klein.
The Very Bitter Ceci Hussein @ 14:
He crashed five planes and set his aircraft carrier on fire with a smartass stunt that killed over a hundred sailors.
Rumor is that his plane was sabotaged by angry swabbies who lost friends on the USS Forrestal.
Today in Akron, Ohio 90 year-old Annie Polk shot herself while being evicted from her foreclosed home by deputies. This is not a bail out, it's a hand out, and if your representatives voted for it, you should do all in your power to see they never represent you again.
http://www.youtube.com/watch?v=7trIpspUILg&feature=related
Nyc Labrets @ 18:
Because they tell us it's a good thing. Weren't you listening?
Now, how about the new fall line-up on NBC? Oh, look, it's the World Series!!!
9/11 Changed Everything.
Ask Questions. Demand Answers.
Instead of carrying a placard in Times Square saying the world is going to end, can anyone explain to me in clear language and in an economic fashion the negative aspects of this bill?
I realize that this bill is a stopgap measure, but I didn't know that this bill would be the harbinger of doom.
Furthermore, what would you put in its place? What could have been done?
This is an honest question where I could like some clear and very insightful answers.
Is the Coast Clear?--- @ 32:
That's what the word is. The people who created this whole mess are taking the last of the remaining wealth and about to leave the country. I would stock up up on dehydrated storable foods now!
I do not follow the game. What is the equivalent of a Hail Mary in hockey?
Bush signed it, but the Republicans are pretty much pretending that he is a liberal Democrat these days. The Democrats' are up front on this stinker and will be left holding the bag. I hope Obama's plans as president include running a country on a shoe string.
I nominate nancy pelosi for the Benedict Arnold Award. In between shoving this piece of garbage along with the FISA act down our throats should make her a shoe-in. Name one person, other than bush and cheney, that have done their upmost to ride this country into the ground. What a disgusting, revolting pathetic excuse of a human being she is. She's going to be the best argument against having a woman EVER hold the speaker of the house position for the next century.
The woman is enough to make me THROW-UP !
Guess it's back to Mississip for me. Time to raise chickens and grow purple-hull peas.
Grannie always called peas life-savers, cuz when you're out of everything else, there's always peas left. Time to find out.
Orangutan. @ 33:
That about explains a lot of these aspects. Even she said that the bill in its previous form without revision was screwing everyday people six ways to Sunday.
I plan to get her book as soon as it is possible and read it.
Ron @ 35:
Have you got a link? I just searched it, and it's not coming up.
Of course, all the folks who voted for Bush over the years deserve to be robbed. The truth was out there for anyone to see, but he was “one of them” so they got fleeced by their own ignorance. Problem is, so did those of us who knew he was a crook. Sadly, "our" elected reps sold us out again for their campaign finaciers...
From a book by Al Martin published in 2000:
Average Guy just went long on dehydrated storable foods. He's a day trader troll.
Astro @ 41:
My foremost worry is that McCain will win and take us further into the stink hole (pardon me).
The GOP are by incompetents who use crisis after crisis to shove down our throats their inept and ill-conceived strategies
It will be more of the same and that is big trouble for all of us....
I have never seen a scarier debate.
Frank said w led us to socialism.
Rep. Sherman scaremongered on martial law after the Dow drops a couple of thousand points to get him to vote yes.
Boner crying again and asking God for help.
This was a hail mary that Ron Paul said would not work and we will go bankrupt.
I think we are witnessing the collapse of our country and globalization.
miss_kitty @ 45:
Never mind I found something.
Ron @ 35:
http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/
http://www.ohio.com/news/break_news/30268404.html
http://blogs.kansascity.com/crime_scene/2008/10/addie-polk-refu.html
MARTIAL LAW IS COMING!
This is the economic 9/11 to end all emergencies. The 3rd Infantry Battalion is set up in Colorado and waiting word to hit the streets.
Are people finally going to wake up?
"Our economies are NOW fundamentally sound!" - George Bush & John McCain
Nicky @ 40:
A totally ridiculous shot at the goal while the buzzer is sounding and miraculously it goes in the goal and you win the game.
Nicky @ 40:
icing the puck?
Can someone who knows a lot more about this than I do explain why when this thing passed the DOW dropped like a stone? I heard that at one time today it was over 300 and now it's up like 12 pts.
Nicky @ 40:
Pulling the goalie to put in an extra skater maybe?
miss_kitty @ 45:
http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html
Nicky @ 47:
Hail Marry and then several reverse laterals will be needed to survive this mess.
Hell, why not vote McCain and put the final nail in the coffin of this so called democracy. It is clear with today's vote that we really are on our own.
The pork added to this bill should have been enough to kill it on principle.
I hope everyone of those people who added on pork to this are called out and defeated in the upcoming election or their next election if they are not up for re-election this time. They should be ashamed of themselves.
Trust the Bush administration with that sum of money? Bank of Crooks and Criminals Incorporated (BCCI) back in business!
There are several other tools the Congress had at its disposal. It is clear the corporations and special interests are all Washington cares about. The only way to end this is to make all Corporate PACs illegal like they were in 1975, and get rid of the subcommittees that have done nothing but give the lobbyists in Washington front row seats at the bargaining table.
This bill is a crime. This time Republicans got it right in the House and the Democrats once again fail to stand up to Bush. Pathetic Dems ... vote 'em all out. Democrats = Republicans - bought and sold.
Most of this bill is going to be redone once the new Congress and President Obama take office in January.
From Prescott Bush to George W. Bush. Family Affairs...
Document uncovers details of a planned coup in the USA in 1933 by right-wing American businessmen
http://www.bbc.co.uk/radio4/history/document/document_20070723.shtml
i would really like to examine the pork that was inserted into this bill supposedly to ensure its passage. there must be more to the story because i don't believe that elected representative son both sides of the aisle could be that dumb as to support pork when they absolutely knew this bill was going to scrutinized and those who inserted pork for the supposed gain of their constituency would be crucified and justifiably so. but then again, i would like to hear the rest of the story. Arrows and nascar race tracks...maybe they are that dumb.
Ron @ 35:
THEY ALL HAVE TO GO!!!!!!!!!!!!!!!!!
Fanon @ 54:
a Sarah Palin?
The Very Bitter Ceci Hussein @ 38:
Go to counterpunch, there are plenty of good articles. Read especially Michael Hudson, who was an advisor to Dennis Kucinich. www.counterpunch.com
Average Guy @ 52:
When the idiot box goes off the air for good they'll start looking around and one or two may even notice they aren't in America any more. After that ... who knows.
There is an episode of the Simpson's where Bart sees his future. Lisa is President and has to constantly dodge creditor nations like Germany and China. Lord, I never thought that would be true. Thanks Rethuglicans, for helping us live in a cartoon nightmare world. Since Raygun came almost all of the national debt has been created by neo-con policies. Tax the poor and middle class, feed the rich, start wars and promote massive deficit spending. Then hope nobody notices they're stealing the whole thing. Are you happy now?
miss_kitty @ 45:
Addie Polk
Liberal AND Proud @ 62:
I wouldn't bet (what's left of) my retirement on it...
oh, wait,...the motherfuckers just did just that...
We'll see how this goes. There's lots of blame to go around. It's interesting that the stock market didn't go up after the bill was passed. I hope wall street isn't holding congress hostage.
Anyway, I saw this image on a blog posting the pretty much sums up my feelings.
http://stressmanagementtips.wordpress.com/200...
Any time bush comes out and says if we don't do this and such, the results of not doing it could be much worse. That scares me.
Wait till they declare a bank holiday, and you can't get your deposits.
Maybe that'll get people off their collective asses.
Liberal AND Proud @ 62:
Any facts back this up or are you just optimistic? Truly curious if they've said anything of the sort. It would add a glimmer of hope to a miserable affair.
Stupid Git @ 66:
Well, except i hope the end result of pulling a sarah palin will be failure.
GuyCybershy @ 67:
Thank you. :) I will go do that.
T H E E N D
(music swells)
(house lights come up)
ontheleftcoast @ 69:
Nada @ 68:
You may be right. I have a feeling this is the beginning of the end of the experiment known as freedom.
We need to spread the word. This cannot stand!
I put up a foto today on one of my blogs which expresses my sentiments to perfection,
pissed off patricia @ 72:
The GOP are run by incompetents who use crisis after crisis to shove down our throats their inept and ill-conceived strategies....
Bush has reduced it to a fine art....
This all was foreseen, but bush paid no attention, in fact he fired the guy that told him.
Read the whole story here.
Nada @ 68:
If you're refering to NSPD 51 that gives the President broad powers in the time of emergency, even fiscal emergencies then yeah, be afraid. Be very afraid. But not because of a single battalion -- Shrub could call up what is left of the National Guard as well. I don't think the emergency has happened, yet. But if Obama wins in November look for a crisis in Decemember that he'll use to suspend the Constitution. He (or more likely Cheney) is just whacked enough to try something like that.
Will McCain get the names of those who added pork to the bill and make them "famous"?
miss_kitty @ 45:
Ms Kitty... Her name is actually Addie Polk.
http://www.ohio.com/news/top_stories/30240349.html
http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/
Average Guy @ 79:
Ah, but it will stand.
It's too late to stop it.
Has been, at least since THE PATRIOT ACT.
China's the new exemplar for kapitalism: prosperity without liberty. That's why everybody's so eager to study chinese society today.
It's the next big thing...
The Very Bitter Ceci Hussein @ 38:
Thank you for posting this. At least there is somebody here that wants to have a reasoned discussion. Be interesting to see if you get any response.
"Let us never tolerate outrageous conspiracy theories" - President George W. Bush at the United Nations - November 10, 2001
Fuck George W. Bush.
"But if they would do this, if they would stoop this low, to steal our White House, what else would they do? What else are they capable of, what else are they capable of? I want to know." - Michael Moore
As I posted before.
this is the start down the road to the AMERO.
Goodbye USA, Hello NAU
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
— U.S. President Woodrow Wilson, a few years after authorizing the creation of the “Federal” Reserve
“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson.” – U.S. President Franklin D. Roosevelt in a letter written Nov. 21, 1933 to Colonel E. Mandell House.
R.I.P. America
(1776 - 2008)
Of course the Republicans did not "step up the plate" as Obama had encouraged. This Republican well timed bailout comes just before this election and provides enough cover for these Republicans to "rip off their Republican uniforms and the Bush administration" in time for the election. They can run away from the last eight years of rubber stamping the Bush administration policies. No one can tell me that Bernanke, Paulson, Bush and Cheney did not plan the timing of this economic time bomb. As former Secretary of the Treasury Paul O'Neil pointed out on David Gregory's news program the other night, they knew this at least two years ago.
The timing was not a mistake.
As Chris Matthews said recently to the weasel Rep Cantor on Hardball "I have never in my life seen a party run from its own record like the Republicans have "
"We are on the verge of a global transformation. All we need is the right major crisis and the nation will accept the New World Order." -- David Rockefeller
"the process of transformation.. is likely to be a long one, absent some catastrophic and catalyzing event - like a new Pearl Harbor." -- PNAC document
woody, tokin librul @ 80:
Loved the photo. I hope they listen.
The Very Bitter Ceci Hussein @ 38:
personally, i'm with you. it's not the best bill nor the best solution, but something had to be done immediately to stop the blood letting. yes, GW was at the root at all or most of this, but without swift decisive action, we were as a country in dire straits. This was as big as the cuban missile crisis. People need to understand how close we were to total disaster. in this case, the sky was falling. now, we need to quit the bickering and get behind this action to ensure that it does work. The Dow lost almost 800 points, picked up 300 the next day and then lost another couple of hundred yesterday. today, it seems to be rebounding a bit We need to join forces on this and the party be damned. .
bmw H. 528 @ 87:
Have you or anybody got any evidence that when Congress revisits so-called 'stop-gap' legislation (if?), they actually IMPROVE itfor the People?
Loks like it's time to go on a diet...
http://calorielab.com/news/2008/09/10/ration-book-diet-lose-weight-save-...
Nyc Labrets @ 18:
It is not even half the picture since the $700 billion is a standing limit, not the end number. What if the Chinese, for instance, dump their illiquid assets on a US bank or banks that then sells them to the Treasury. The Treasury dumps it at 10¢ on the dollar taking a loss. The entire amount is off the books and they start again with $700 billion. Theoretically an infinite amount.
The oversight is overstated. What would keep the target repository of the illiquid assets from dumping it back to the treasury, at a profit. That is one of the components, as I understand it, that was stripped in the Senate bill, which is a much worse bill. Even before you talk about the added $110 billion in pork.
Bushco knew about this 6 months ago yet decided to hold onto it and drop it like a big bomb before the elections. Ralph Nader wrote about it in 2000 and Paul Krugman in 2005. It was no secret.
We are screwed.
They still haven't addressed the real issue: there are a LOT of mortgages out there that are going to go into default.
Let's get this straight: the banks KNEW they were giving out bad loans, and they KNEW about the mortgage resets that were going to place those loans in jeopardy. And now those banks, instead of going out of business, are going to KEEP THE DEEDS TO THOSE PROPERTIES, and the people who can't pay back the increased mortgages because of the resets, will have gotten MILLIONS OF HOUSES built for the banks, and yet the BANKS will come away with THEIR credit ratings intact.
In the past fifteen years, how many of you rolled your house over after two years?
How many of you remortgaged?
How many of you played the housing game?
Because you're the problem, just as much as any one of those "predatory lenders".
As far as I know, there's no provision to refinance those loans under a more reasonable payment schedule? Why is that
We pass a bill to bail out the bankers, but there's NO provision forcing the interest rates down on any of those bad mortgages. No. NO ONE'S going to part with any of their precious interest. And the irony is, to pay out this money, we're going to BORROW it from the Federal Reserve!?!? The very same CARTEL that created the problem.
Good luck America. A nation this dumb can't last forever.
woody, tokin librul @ 86:
You are 100% correct. China is the model for the globalist. A new feudalistic global governance is now established.
We must uphold the Constitution and exercise it/ It's the duty of all Americans to prepare to defend this country now!
Drop the Republican/Democratic crap. That is over. We are all AMERICANS!
woody, tokin librul @ 96:
At best, this bailout may buy them a little time, enough to get through the election. I've been watching BNN here in Canada and I have never heard such pessimism.
We must uphold the Constitution and exercise it/ It’s the duty of all Americans to prepare to defend this country now!
Drop the Republican/Democratic crap. That is over. We are all AMERICANS!
the Constitution?
How quaint!
You revere a piece of parchment!
Fascinating...(strokes pointy ears in contemplation)
Drop the Republican/Democratic crap. That is over. We are all AMERICANS!
Actually, no.
We are all FUCKED!
Unbelievable......this just underscores the fact that nearly EVERY SINGLE member of Congress continually ignores their constituents. Didn't Diane Fienstein declare she had over 90,000 emails demanding she vote "No" to the bailout (as opposed to a tiny amount in favor of it) yet she went ahead and voted "Yes" for the bailout? And I'm sure she wasn't alone.
woody, tokin librul @ 103:
Agreed.
moonsha @ 85:
In the Great Depression when the eviction people came, the guns were pointed outward, not inward.
At least until FDR came in and BOUGHT all of the mortgages.
That is what should happening this very day!
Instead we get the Republicrats handing over $700 billion for these 'toxic assets' which are neither fish nor fowl. But they are foul.
We should just buy all of the mortgages AGAIN!
What has happened to us?
miss_kitty @ 45:
http://www.msnbc.msn.com/id/26995426/
There is a part of me that keeps thinking about a line in "The Long Kiss Goodnight"....
"Fuck it! Run for your life!"
Probably not effective in creating a personal solution to this financial crisis but maybe there's something to be said about a gut reaction....
From bailout, to rescue to investment.. more like a heist by the Secretary of the Treasury and his Wall Street thugs
James @ 99:
True.
The U.S. House just passed the bailout bill 263-171.
Yet, two companies (Citigroup and Wells Fargo) are fighting over the privilege of buying another company (Wachovia) heavily saddled with debt.
Regulators seek to resolve rival Wachovia bids
Translation: The taxpayers will pay for the losses.
But, the Wells Fargo bid will cost the taxpayers nothing.
Yet, Citigroup is willing to sue for the right to acquire further debt.
Link
Citigroup Demands Wachovia, Wells Fargo Terminate Merger Deal
The only way this makes sense is if the entire mess is a huge scam. And the scam would end up costing the taxpayers anyway. Somehow, mark my words, after all of the bailout money is spent, and nothing really is solved, the government will end up holding a bigger bag of problems (10 pounds per 5 pound bag).
surprise surprise!
wall street giants most be dancing the rumba!
Putting Pelosi to deliver the message is perfect!
An idiotic divider, whiner, pointing fingers of the house telling us we are scre*wed
RickMack @ 104:
Saw a round table discussing on Charlie Rose last night where the guests were talking about how even though the constituents were rabidly against it they had to vote for it because it was in the nation's best interests. To justify it, they compared it to Civil Rights where many congressmen voted against the will of the people to defend human rights.
I'm not excusing it, just throwing their rational out there.
Was nice knowing ya America. Maybe my grand kids will read about your past existence in the history books.
Well Bush has succeeded in destroying my belief in the American system. Helped along by the Democrats by passing this sham. This is the last election I'm voting in because damn it, nothing matters anymore because nothing will ever change.
Too late. The mortgage derivates are valued , or, at least were valued around U.S. $ 6 trillion. This will just delay the collapse.
Thank you for playing.
This may help short term...til january maybe? the smart ones will have time to cash out their 401-k's at least...
Goodbye, healthcare...
goodbye, social security
goodbye, 401-k
goodbye, value of the dollar
hello inflation
hello depression
hello taxes
hello police state
Did anyone see Barney Frank on oh'really? last night. falafel man actually went berserk and frank did a great job of holding his own; frank actually called oreilley stupid, and called him out on his ranting and bullying.
When this election day arrives, keep this list handy. If any of your reps voted for this bill today, vote them out of office......
**********************Yea : 263 Members
Spencer Bachus (R-AL)
Jo Bonner (R-AL)
Robert Cramer (D-AL)
Artur Davis (D-AL)
Terry Everett (R-AL)
Michael Rogers (R-AL)
Marion Berry (D-AR)
John Boozman (R-AR)
Mike Ross (D-AR)
Vic Snyder (D-AR)
Gabrielle Giffords (D-AZ)
Harry Mitchell (D-AZ)
Ed Pastor (D-AZ)
John Shadegg (R-AZ)
Joe Baca (D-CA)
Howard Berman (D-CA)
Mary Bono Mack (R-CA)
Ken Calvert (R-CA)
John Campbell (R-CA)
Lois Capps (D-CA)
Dennis Cardoza (D-CA)
Jim Costa (D-CA)
Susan Davis (D-CA)
David Dreier (R-CA)
Anna Eshoo (D-CA)
Sam Farr (D-CA)
Jane Harman (D-CA)
Wally Herger (R-CA)
Michael Honda (D-CA)
Barbara Lee (D-CA)
Jerry Lewis (R-CA)
Zoe Lofgren (D-CA)
Dan Lungren (R-CA)
Doris Matsui (D-CA)
Howard McKeon (R-CA)
Gerald McNerney (D-CA)
Gary Miller (R-CA)
George Miller (D-CA)
Nancy Pelosi (D-CA)
George Radanovich (R-CA)
Laura Richardson (D-CA)
Adam Schiff (D-CA)
Hilda Solis (D-CA)
Jackie Speier (D-CA)
Ellen Tauscher (D-CA)
Mike Thompson (D-CA)
Maxine Waters (D-CA)
Diane Watson (D-CA)
Henry Waxman (D-CA)
Lynn Woolsey (D-CA)
Diana DeGette (D-CO)
Ed Perlmutter (D-CO)
Thomas Tancredo (R-CO)
Rosa DeLauro (D-CT)
John Larson (D-CT)
Christopher Murphy (D-CT)
Christopher Shays (R-CT)
Michael Castle (R-DE)
F. Allen Boyd (D-FL)
Corrine Brown (D-FL)
Vern Buchanan (R-FL)
Ander Crenshaw (R-FL)
Alcee Hastings (D-FL)
Ron Klein (D-FL)
Timothy Mahoney (D-FL)
Kendrick Meek (D-FL)
Adam Putnam (R-FL)
Ileana Ros-Lehtinen (R-FL)
Debbie Wasserman Schultz (D-FL)
Dave Weldon (R-FL)
Robert Wexler (D-FL)
Sanford Bishop (D-GA)
John Lewis (D-GA)
Jim Marshall (D-GA)
David Scott (D-GA)
Neil Abercrombie (D-HI)
Mazie Hirono (D-HI)
Leonard Boswell (D-IA)
Bruce Braley (D-IA)
Dave Loebsack (D-IA)
Mike Simpson (R-ID)
Melissa Bean (D-IL)
Judy Biggert (R-IL)
Danny Davis (D-IL)
Rahm Emanuel (D-IL)
Bill Foster (D-IL)
Luis Gutierrez (D-IL)
Phil Hare (D-IL)
Jesse Jackson (D-IL)
Mark Kirk (R-IL)
Ray LaHood (R-IL)
Bobby Rush (D-IL)
Janice Schakowsky (D-IL)
Jerry Weller (R-IL)
Andre Carson (D-IN)
Joe Donnelly (D-IN)
Brad Ellsworth (D-IN)
Mark Souder (R-IN)
Dennis Moore (D-KS)
Ron Lewis (R-KY)
Harold Rogers (R-KY)
John Yarmuth (D-KY)
Rodney Alexander (R-LA)
Charles Boustany (R-LA)
Jim McCrery (R-LA)
Charlie Melancon (D-LA)
Michael Capuano (D-MA)
Barney Frank (D-MA)
Edward Markey (D-MA)
James McGovern (D-MA)
Richard Neal (D-MA)
John Olver (D-MA)
John Tierney (D-MA)
Niki Tsongas (D-MA)
Elijah Cummings (D-MD)
Donna Edwards (D-MD)
Wayne Gilchrest (R-MD)
Steny Hoyer (D-MD)
C.A. Ruppersberger (D-MD)
John Sarbanes (D-MD)
Chris Van Hollen (D-MD)
Thomas Allen (D-ME)
Dave Camp (R-MI)
John Dingell (D-MI)
Vernon Ehlers (R-MI)
Peter Hoekstra (R-MI)
Dale Kildee (D-MI)
Carolyn Kilpatrick (D-MI)
Joseph Knollenberg (R-MI)
Sander Levin (D-MI)
Fred Upton (R-MI)
Keith Ellison (D-MN)
John Kline (R-MN)
Betty McCollum (D-MN)
James Oberstar (D-MN)
Jim Ramstad (R-MN)
Roy Blunt (R-MO)
Russ Carnahan (D-MO)
Emanuel Cleaver (D-MO)
Jo Ann Emerson (R-MO)
Ike Skelton (D-MO)
Charles Pickering (R-MS)
Howard Coble (R-NC)
Bob Etheridge (D-NC)
Brad Miller (D-NC)
Sue Myrick (R-NC)
David Price (D-NC)
Melvin Watt (D-NC)
Earl Pomeroy (D-ND)
Lee Terry (R-NE)
Robert Andrews (D-NJ)
Michael Ferguson (R-NJ)
Rodney Frelinghuysen (R-NJ)
Rush Holt (D-NJ)
Frank Pallone (D-NJ)
Bill Pascrell (D-NJ)
Jim Saxton (R-NJ)
Albio Sires (D-NJ)
Heather Wilson (R-NM)
Shelley Berkley (D-NV)
Jon Porter (R-NV)
Gary Ackerman (D-NY)
Michael Arcuri (D-NY)
Tim Bishop (D-NY)
Yvette Clarke (D-NY)
Joseph Crowley (D-NY)
Eliot Engel (D-NY)
Vito Fossella (R-NY)
John Hall (D-NY)
Brian Higgins (D-NY)
Steve Israel (D-NY)
Peter King (R-NY)
Randy Kuhl (R-NY)
Nita Lowey (D-NY)
Carolyn Maloney (D-NY)
Carolyn McCarthy (D-NY)
John McHugh (R-NY)
Michael McNulty (D-NY)
Gregory Meeks (D-NY)
Jerrold Nadler (D-NY)
Charles Rangel (D-NY)
Thomas Reynolds (R-NY)
Louise McIntosh Slaughter (D-NY)
Edolphus Towns (D-NY)
Nydia Velazquez (D-NY)
James Walsh (R-NY)
Anthony Weiner (D-NY)
John Boehner (R-OH)
David Hobson (R-OH)
Deborah Pryce (R-OH)
Ralph Regula (R-OH)
Tim Ryan (D-OH)
Jean s****** (R-OH)
Zack Space (D-OH)
Betty Sutton (D-OH)
Patrick Tiberi (R-OH)
Charlie Wilson (D-OH)
Dan Boren (D-OK)
Tom Cole (R-OK)
Mary Fallin (R-OK)
John Sullivan (R-OK)
Darlene Hooley (D-OR)
Greg Walden (R-OR)
David Wu (D-OR)
Robert Brady (D-PA)
Charles Dent (R-PA)
Mike Doyle (D-PA)
Chaka Fattah (D-PA)
Jim Gerlach (R-PA)
Paul Kanjorski (D-PA)
Patrick Murphy (D-PA)
John Murtha (D-PA)
John Peterson (R-PA)
Allyson Schwartz (D-PA)
Joe Sestak (D-PA)
Bill Shuster (R-PA)
Patrick Kennedy (D-RI)
James Langevin (D-RI)
J. Gresham Barrett (R-SC)
Henry Brown (R-SC)
James Clyburn (D-SC)
Bob Inglis (R-SC)
John Spratt (D-SC)
Joe Wilson (R-SC)
Stephen Cohen (D-TN)
Jim Cooper (D-TN)
Bart Gordon (D-TN)
John Tanner (D-TN)
Zach Wamp (R-TN)
Kevin Brady (R-TX)
Mike Conaway (R-TX)
Henry Cuellar (D-TX)
Chet Edwards (D-TX)
Charles Gonzalez (D-TX)
Kay Granger (R-TX)
Al Green (D-TX)
Ruben Hinojosa (D-TX)
Sheila Jackson Lee (D-TX)
Eddie Bernice Johnson (D-TX)
Solomon Ortiz (D-TX)
Silvestre Reyes (D-TX)
Pete Sessions (R-TX)
Lamar Smith (R-TX)
William Thornberry (R-TX)
Chris Cannon (R-UT)
Rick Boucher (D-VA)
Eric Cantor (R-VA)...
The delay introduced by the House gave a lot a Congressman time to adjust their portfolios before any action was taken. Talk about insider trading.
172 chickenshit Democrats. 172 Dems voting with Bush. Twice as many Dems bend over for Wall street than Repubs.
"It’s pretty funny to see House Republicans run around claiming to be acting on true conservative principles"
What is decidedly un-funny is seeing kneejerk Democrats falling prey to the status quo once again.
"We must do Something!" Thank you for nothing. There's not a damn spine among Dems and it's a crying shame.
And the country wonders why Bush gets away with everything= it's less because of the psycho republicans and more because of cowardly Democrats.
Fucking hell, this country has really gone to shit.
Rick Street @ 118:
Barney just voted for the bailout so dont even!
FROM THE HEADLINES, IT'S OBVIOUS THESE PEOPLE WILL DO EVERYTHING BUT ADDRESS THE PROBLEM!
MAYBE INVESTORS ARE WORRIED ABOUT WHY CONGRESS DID NOT LISTEN TO THE ECONOMISTS?
milquetoast @ 122:
barney is one of those quietly corrupted freemarketeers.
bmw H. 528 @ 87:
My concerns are with the value of the dollar. I think the amount of money they print or create to save these failing business firms will cause the dollars already in circulation to lose value. Inflation. I also doubt real people will benefit. They are saying it'll divert a crisis, but the only people who seem to benefit are those at the top, who already have 6 homes or whatever. I also think it gives the people at the top too much power. Basically I just don't trust the Bush Administration to do anything right.
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
BaScOmBe hearts Rachel Maddow hates MSM and Incumbents @ 124:
Amen! Quiet indeed! he was on the friggin' house banking commitee for the last couple of years!!!! ....and I never heard a warning from him about all this shit!...not even a peep!
@16 The Very Bitter Ceci Hussein Says
Well, the bailout package basically means the US government is buying debt from these institutions; the taxpayer just paid $700 billion for questionable debt, debt that the financial institutions had to get off their books because the chances of default were so high. Now you own that bad debt. Awesome!
However, the US didn't have $700 billion laying around, so it in turn it borrows money. Or it just prints more. And the laws of supply and demand apply here as well, so boosting the money supply (which doesn't just mean cash) means every dollar is worth less. If you had $1,000 US dollars yesterday, it is now worth less instantly. America's creditholders don't like that. So, at some point the dollar slides or the US has to raise interest rates to appeal to creditors who have seen the real value of their holdings shrink. But 'Oh no!' we have a huge debt and deficit, so even an incremental increase in interest rates means a WHOLE LOT of interest payments...money out the window. So, more debt, diminished currency, and higher interest rates...while flying into the teeth of an economic gale.
Way to go George et al.
bmw H. 528 @ 87:
You're very welcome. :)
I am very appreciative of those who answer with clear and concise answers about this crisis because as I mentioned to another person on C&L elsewhere, that facts outweigh hyperbole.
I want the facts so I can make choices.
And even though passion and anger is swaying this discussion, I hope that there are a few folks out there who will cut the bull and tell it like it is with reading material, links and reasoned knowledge.
"Give me control of a nations money supply...and I care not who makes the laws"
...Mayer A. Rothschild
Tim @ 126:
Jefferson also called for revolution every generation or so, just to keep the government from getting complacent about the needs and will of the people. Not saying he was right, not saying he was wrong. Just giving some context to the man behind the quote.
GuyCybershy @ 101:
The stock market is down and I believe three banks folded today. So yes, there is a right to such pessimism.
ANGER. GOT THAT FUCKING RIGHT.
How XXuck'n lame are we as people. 700....7...0...0.....Billion Dollars to help Wall Street. There are 6 (+) Billion People on da planet. Let's see.... 50,000 dollars to every (FAMILY HOUSE-HOLD) to assist them with correcting their credit to give them a better chance at acquiring the things they (NEED) to be happy. 700 billion to Wall Street.....just gives them a better chance at XXuck'n us over again, but the next time will be much better!! Happy XXuck'n New Years.....
P.S.
We don't like solving problems in America, we like pushing people to the limit (Wooden Arrows....NASCAR.....Come on!!! Da majority of people living in the U.S. have never seen, or touched a wooden arrow)
Btw, I thank Orangutan, GuyCybershy, no longer a proud american bmw H. 528 and others who clearly answered my question earlier in the thread. Your information is helping me with making an informed decision where I stand in this crisis. :)
[*gives a thumbs up*]
It's working, It's working.....the DJ's only down 145 points. Hip Hip Hooray!!
Now Paulson's in charge of the bankin'
its him and the House Bush is thankin'
but they all had a role
in the trillions they stole
and yet the Dow Jones is still tankin'
They dare not call it TREASON!
The house is on fire! Quick! Throw some petrol on it!
The Very Bitter Ceci Hussein @ 134:
You're welcome. Read this by Michael Hudson, the Noam Chomsky of economists. http://www.counterpunch.org/hudson09252008.html
The Very Bitter Ceci Hussein @ 38:
Yes
Henry C. K. Liu, A History of Monetary Imperialism (long, but full of very good info)
Henry C. K. Liu, Road to Hyperinflation is paved with Market Accommodating Monetary Policy
Henry C. K. Liu, Greenspan - Wizard of Bubbleland
Pamela Martens, What Wall Street Hoped to Win
Pamela Martens, The Wall Street Model: Unintelligent Design
Michael Hudson, America's Own Kleptocracy
Michael Hudson, A Grand Global Bargain?
Michael Hudson, The Next Big Bail Out
Mike Whitney, The Game is Over. There Won't be a Rebound (from June)
Hossein Askari and Noureddine Krichene, Paulson plan throws oil on fire
Hossein Askari and Noureddine Krichene, The mother of all golden parachutes
“Who’s Gonna Bail Me Out?” is the question being asked by many Americans when considering the 700 billion dollar bailout. Thanks to two Nashville songwriters known as The Common Man Band, this frustration has finally been given a voice and put to music in the hard rocking anthem “Who’s Gonna Bail Us Out?” Echoing the feelings of frustration and helplessness of most Americans, “Who’s Gonna Bail Me Out” begs the question, “What is the plan for the common man?” The song has been released today directly to news and media outlets and will be made available at www.myspace.com/whosgonnabailusout and www.youtube.com/whosgonnabailusout.
“Who’s Gonna Bail Us Out?” hopes to give a voice for all Americans who desire a direct answer from both campaigns as they make their way to Belmont University in Nashville for the second Presidential debate. Since the headquarters for The Common Man Band are located just steps away from the debate stage on historic Music Row, public appearances are being scheduled through next week. For more information regarding “Who’s Gonna Bail Me Out” or The Common Man Band, contact (615) 403-7825.
The Very Bitter Ceci Hussein @ 16:
I agree. Our dollar is now worthless. Very soon, third world countries will be outsourcing work to us for a better deal :(
Alright, I'm confused. They passed this disaster of a miscarriage of an abomonation of a bill to reassure the market and get "main street" working again, right?
How come the freakin' DJ just closed down 157 points to 10325 if passing this bill was so reassuring to Wall Street?
How did this argument get packaged so quickly that if we didn't all vote for it today, America's economy would explode tomorrow?
Will we hear in several months that a different pathway could have been taken?... that cronyism and corruption guided the decisions... that the bad news was exaggerated so we could give a bailout...
It will be Iraq all over again. Have we learned nothing?
going to need food? well sure you are, now heres my advice after you vote for the loser of your choice on election day , get the family together put them in your car and drive the highways , you see any dead possums rabbits skunks killed by thoes mexican truckers have the kids sniff them for freshness, and get them home skin them and fire up the old crockpot, heckys youd be surprised how good road kill is when your bellys shrinking, bonnapitite molosks!
And to thank the American people on Main Street who just got raped to save their sorry asses the clowns on Wall Street sold off from a rally to end the day down 1.5%. A nice big FUCK YOU from your friends the in the financial sector. We should've let them fry.
Liberal AND Proud @ 62:
yeah yeah! thats the ticket every body wins!
Avenger @ 144:
We have learned much!
Congress has learned nothing!
Login or Register to post comments.