$700 billion bailout bill fails in Congress
09-30-2008, 01:19 PM
#31
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Join Date: Sep 2004
Location: Irving, TX
Posts: 1,448
First off, that lady you mention probably said that after she saw Barney Frank's remarks. It's called damage control. The repubs came across as big babies and EVERYONE knows it. The commentators were talking about that fact all day yesterday. And again, that lady is not the House leader. Boehner is.
BTW, Frank derided the repubs for not passing the bill just because of what Pelosi said. He got it right. The repubs put their party before the country. Unacceptable.
And the fact the repubs are still calling her speech sabotage. SUCK IT UP. Their only words. They don't mean anything.
It's just like a little kid saying, "you're being mean to me! I'm taking my ball and going home."
The repubs need to GROW UP!!!
BTW, Frank derided the repubs for not passing the bill just because of what Pelosi said. He got it right. The repubs put their party before the country. Unacceptable.
And the fact the repubs are still calling her speech sabotage. SUCK IT UP. Their only words. They don't mean anything.
It's just like a little kid saying, "you're being mean to me! I'm taking my ball and going home."
The repubs need to GROW UP!!!
http://www.latimes.com/news/nationwo...,5343090.story
So, maybe the Republicans are just listening to their constituents.
On Pelosi's comments, she needs to grow up. Blaming the current administration for this situation is laughable. That was a speech in an election year that back fired. If she really cared about this legislation, she would have kept out of partisan politics.
Honestly, I don't like the bail out plan, but I am not sure how bad the alternative is either. I don't know if I want it to pass or not. I have heard opinions about making the loans easier for people to pay, which isn't necessarily a bad idea. I would rather see the money in this plan go to the people who need it instead of the companies that may bad decisions on who to lend to and how much.
09-30-2008, 01:27 PM
#32
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Join Date: Sep 1999
Location: Stockton, Ca. USA
Posts: 666
No bailout for mortgages. You could get a 30yr/fixed (same as I did), for not much more then an ARM loan. You would have to be a complete IDIOT NOT to do it and everybody did being typical American's wanting more then they can afford now. It's time for a reality check. We were living TOO well, unsustainably well.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
What we have now is a plan put together by a failed president, and trying to be passed by a failed Congress trying to fix a failing economy.
09-30-2008, 01:36 PM
#34
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Join Date: Jun 2004
Location: USA
Posts: 456
09-30-2008, 01:58 PM
#35
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Join Date: Sep 1999
Location: Stockton, Ca. USA
Posts: 666
09-30-2008, 02:28 PM
#36
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Join Date: Sep 2002
Location: Oakland, California
Posts: 9,710
While I don't agree with a bailout for people who were irresponsible; to simply sit back and do nothing would be even more irresponsible. Something needs to be done to stabilize the economy and protect the banks so that we don't have a complete collapse and force this country into a depression.
Its time for our representatives in Washington to set aside their petty differences, drop the partisan politics and come up with a plan that won't further sell the American taxpayer down the river.
Its time for our representatives in Washington to set aside their petty differences, drop the partisan politics and come up with a plan that won't further sell the American taxpayer down the river.
09-30-2008, 02:40 PM
#37
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Join Date: Apr 2000
Location: CNY
Posts: 2,224
No bailout for mortgages. You could get a 30yr/fixed (same as I did), for not much more then an ARM loan. You would have to be a complete IDIOT NOT to do it and everybody did being typical American's wanting more then they can afford now. It's time for a reality check. We were living TOO well, unsustainably well.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
Agreed for the most part.
But stating the obvious doesn't get us out of the jam we're in now. There's almost no sense in rehashing how we got here. People should be focused on making things better.
09-30-2008, 02:40 PM
#38
Registered User
Join Date: Jun 2001
Location: Alton IL
Posts: 751
While I don't agree with a bailout for people who were irresponsible; to simply sit back and do nothing would be even more irresponsible. Something needs to be done to stabilize the economy and protect the banks so that we don't have a complete collapse and force this country into a depression.
Its time for our representatives in Washington to set aside their petty differences, drop the partisan politics and come up with a plan that won't further sell the American taxpayer down the river.
Its time for our representatives in Washington to set aside their petty differences, drop the partisan politics and come up with a plan that won't further sell the American taxpayer down the river.
09-30-2008, 02:43 PM
#39
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Join Date: Apr 2000
Location: CNY
Posts: 2,224
The reasons those 93 dems voted against it was because they thought it was a bad deal, not to spite the other party.
09-30-2008, 03:03 PM
#40
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Join Date: Dec 1999
Posts: 2,282
09-30-2008, 03:13 PM
#41
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Join Date: Dec 2005
Location: Annapolis MD
Posts: 2,802
No bailout for mortgages. You could get a 30yr/fixed (same as I did), for not much more then an ARM loan. You would have to be a complete IDIOT NOT to do it and everybody did being typical American's wanting more then they can afford now. It's time for a reality check. We were living TOO well, unsustainably well.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
I have no sympathy for anybody over this. I moved money out of the stock market because I saw this coming a LONG TIME AGO when the housing / financial market was completely out of control. Absolutely ridiculous, but nobody could overlook the money they were making and the McMansions they were getting into for cheap.
I bank with with a bank who is in no means in ANY trouble because they didn't get into this Subprime and Crazy Lending tactics. I actually researched my banks to make the decision of where to keep my Savings.
Also, you can never go wrong with Gold; etc.
I say let it all fail. It maybe a rough few years, but in the long term will be much better then the govt stepping in and Socializing everything.
Last edited by 5thgen69camaro; 09-30-2008 at 03:21 PM.
09-30-2008, 03:22 PM
#42
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Join Date: Dec 2006
Location: Philaduhphia
Posts: 1,406
i cant but laugh at the fact it failed the first time through.
its like when i head Saddam was handed over from us custody to "whoever", old fool was dead less than 24 hours later. not shocking, but kinda unsuspected to happen so quick.
its like when i head Saddam was handed over from us custody to "whoever", old fool was dead less than 24 hours later. not shocking, but kinda unsuspected to happen so quick.
09-30-2008, 04:25 PM
#44
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Join Date: Sep 1999
Location: Stockton, Ca. USA
Posts: 666
The depresion will be for those who over extended themselves, and they deserve it. This country can only run on credit for so long.