House defeats $700 bailout

[Nightgaunt]

The bottom line, for me, is this: As long as the Federal Reserve is creating money out of thin air, we're living on borrowed time.

[n0Mad]

You could give EVERY adult in the USA about $470,000.

Do you know how badly that would inflate the economy?

[Gaf The Horse With Tears]

I didn't say it was a good thing.

[Fin]

I'm kinda sad I missed Nancy Pelosi's hissy fit.

Say what you will about her; she's a pretty smart lady.

I wonder if her "fit" was a shrewd way to make sure the motion was defeated.

[Rev.Reverence]

The bottom line, for me, is this: As long as the Federal Reserve is creating money out of thin air, we're living on borrowed time.

+1

[Gaf The Horse With Tears]

Say what you will about her; she's a pretty smart lady.

I wonder if her "fit" was a shrewd way to make sure the motion was defeated.

Have you seen what being Speaker has done to her? When she was voted to the postion.. She was a damn fine looking older woman. I would put have put her way into the "doable" side of the scale... now.. after just a year or so... She looks older than she actually is.. tired and beaten.

I don't care what side of the political isle people come from.. holding postions of that much power and responsibility wears on you.

[Rev.Reverence]

Do you know how badly that would inflate the economy?

But it is O.K. (according to some politicians) to GIVE away that much to a group of businessmen...

[Rev.Reverence]

Have you seen what being Speaker has done to her? When she was voted to the postion.. She was a damn fine looking older woman. I would put have put her way into the "doable" side of the scale... now.. after just a year or so... She looks older than she actually is.. tired and beaten.

I don't care what side of the political isle people come from.. holding postions of that much power and responsibility wears on you.

+1!

[phee]

But it is O.K. (according to some politicians) to GIVE away that much to a group of businessmen...

Oh come now.... the business of America is... BUSINESS

[Rev.Reverence]

Oh come now.... the business of America is... BUSINESS

...& helping the poor...if they do not live here that is...

[Troy Spiral (13)]

Yeah politics is stressful. Presidents tend to look 10 years older not 4 or 20 and not 8 after their run is over. If the MILF gets in and gets another 8 years (FSM help us) I'm guessing she'll be a MINLF rapidly.

Back to the topic... Short response: Good. Unfortunately it won't be the end of it. Despite all our gains from the free market and long term economic health from it, socialism (both corporate and personal) is alive and well in economics.

[TitsMcGee]

Say what you will about her; she's a pretty smart lady.

I wonder if her "fit" was a shrewd way to make sure the motion was defeated.

Have you ever noticed when she's listening to a speech she doesn't like how much she blinks? Seriously I counted it once it was like 20 times in one minute.

[SaGa]

But it is O.K. (according to some politicians) to GIVE away that much to a group of businessmen...

they whould not spend it. so in theory its more likely invested into buisness. granted with so many pulling out of investments, its hurting buisness growth. imagine how many people who had 50 million invested pulled there shit out. that alone can do some dammage. i can see a reasoning to it in a way. its not right. but no one can say bribery isnt around. imagine living in russia. cause there be a lot of bribing buisnessess and of coure bribing elected officials

but yah the money shouldnt even be used. we dont need over a trillion dollars onto our huge debt in one month. perhaps a bailout like that should be shrunk into "stages". gives more time to tune it to lower the rick factor a bit more.

in essence its a risky investment, they could get the money back with a profit.

[sass_in_the_pants]

The more I think about this, the madder I get.

Madder and madder and madder.

Maybe it's because these Wall Street people are MY people, so to speak - these are the financial and accounting people. Where's their fiscal responsibility? Didn't these people learn ANYTHING about risk management?

Of course they knew about fiscal responsibility...and they didn't care because everyone was making money...companies posting 8% quarterly growth for six plus years...come on people! You KNEW this wouldn't last!

Stock holders were greedy.

Consumers were greedy.

Government was greedy.

Everyone wanted not just a piece of the pie, but a GREAT BIG piece of a GREAT BIG pie.

Argh!

Short-term thinking...it'll bite you in the ass every time.

I'm just SO MAD! How could these people let this happen!??!?

[Gaf The Horse With Tears]

Wanna get madder?

On the first day the market drop... the value of the "money" lost is equal to the full GDP of India.

[Gaf The Horse With Tears]

they whould not spend it. so in theory its more likely invested into buisness. granted with so many pulling out of investments, its hurting buisness growth. imagine how many people who had 50 million invested pulled there shit out. that alone can do some dammage. i can see a reasoning to it in a way. its not right. but no one can say bribery isnt around. imagine living in russia. cause there be a lot of bribing buisnessess and of coure bribing elected officials

but yah the money shouldnt even be used. we dont need over a trillion dollars onto our huge debt in one month. perhaps a bailout like that should be shrunk into "stages". gives more time to tune it to lower the rick factor a bit more.

in essence its a risky investment, they could get the money back with a profit.

That, in essence, is what the Republicans are fighting for. and to remove a huge bit of funding to ACORN. and to add oversight and regulation to the process.

[sass_in_the_pants]

Wanna get madder?

On the first day the market drop... the value of the "money" lost is equal to the full GDP of India.

[Rev.Reverence]

..I suck at finding news...did this pass?

[Enishi]

Yeah, looks that way. :(

[Rev.Reverence]

Yeah, looks that way. :(

Thanx for the news... I guess...

Let's sit & cry for a moment...

[Enishi]

Looks like the economy is doing pretty badly today. I wonder if our wonderful, democratic representative masters will try to get another $700 billion out of us? >:(

[Enishi]

The only good thing I can see in this is that it will help demolish the naive assumption held by many on both the right and the left that we have a 'free market'. We do not. What we have is a revolting form of state capitalism/socialism/mercantilism with regulations which primarily benefit the rich and well connected.

The only instances I can think of offhand which came anywhere close to a true free market were the American wild west during the 19th century, and perhaps some areas of Europe during the middle ages.

[phee]

The only good thing I can see in this is that it will help demolish the naive assumption held by many on both the right and the left that we have a 'free market'. We do not. What have is a revolting form of state capitalism/socialism/mercantilism with regulations which primarily benefit the rich and well connected.

The only instances I can think of offhand which came anywhere close to a true free market were the American wild west during the 19th century, and perhaps some areas of Europe during the middle ages.

Indeed

[Hellion]

Wanna get madder?

On the first day the market drop... the value of the "money" lost is equal to the full GDP of India.

That is exactly what they wanted