Comments on: House Rejects $700B Bailout Plan

Bill Designed To Rescue Wall Street Is Shot Down, Sending Dow To Record Point Loss

[bks59]

from Wickipedia:

The bills were introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA). The bills were passed by a 54-44 vote along party lines with Republican support in the Senate and by a 343-86 vote in the House of Representatives. Nov 4, 1999: After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15. This ''veto proof legislation'' was signed into law by President Bill Clinton on November 12, 1999[1]

The banking industry had been seeking the repeal of Glass-Steagall since at least the 1980s. In 1987 the Congressional Research Service prepared a report which explored the case for preserving Glass-Steagall and the case against preserving the act.[2]

[gunfighter51]

Liberals are worried about Palin becoming president, think about Pelosi, she''s next in line.

[nextgenman]

This whole bailout is a smoke screen. Watch the markets go up today.

[andrewsan-2009]

Paulson Bernanke had hard neck to nail their colors to the mast based on continuation of years of guzzling at the trough. Obviously expecting Joe Public to roll over legs in the air. For years one of the consistent subjects in the locker room has been %u2013 %u201CWhere does the money actually go?%u201D No one was able to give a definitive answer but everyone had a good idea. But one consistent theme has been the desire to expose these despicable people and make them pay for it. One of them last week said the money went to loans arranged for Joe Public %u2013 yes, some truth in this but this is chicken****. So now an opportunity to nobble them %u2013 what should we do? %u2013 Hit them hard and start with P&B who are still trying to look a pair of innocents %u2013 and shouting at us at the same time! If they%u2019d started to evaluate the loans 3 months ago, now they would have a good idea of the risk. Don%u2019t pat Joe Public on the head and say %u2013 %u201CToo complex for you to understand%u201D - absolute rubbish. Actuaries and others do their work on educated assessments and this could be done with these loans, if the desire is there. But perpetuate the lie in order to bamboozle Joe Public and Congress! Loan assessments can be done based on standard risk assessment methods %u2013 not rocket science and we know that the answers would have a tolerance. If commitment is made that in 3 months we will have a reasonable idea of the problem, the markets would settle down.

[farkusa]

The END for UNCLE SAM as self-proclaimed Master of the World is near! BIG loser in morality in the world with all the rapes and tortures of innocent people around the world in the name of democracy (or OIL & MONEY$) ... Goodbye ..PERIOD

[upto1947]

Thank God. I hope it never does pass.First thing the Republicans have done right.

[beej138]

Of course, the reality is that the Democratic majority simply sees this as an opportunity to pay back their most ardent supporters and fund a far left agenda using taxpayer dollars. Through fear, they want to coerce Americans into agreeing to something we''d never accept on merit.

Funny, a proposal that started out three pages in length is now over 110 pages...and Democrats don''t want you to know what "fixes" they made. They simply want you to support it out of fear.

I don''t think so.

It''s SO important to get this done immediately that they went on break until Thursday...and no Democrats plan to hold public hearings or get the input of prominent, nonpartisan economists on what is supposedly the biggest financial crisis of our lifetime.

Apparently, Harry and Nancy think that 12% approval rating is for the Republican minority and not them.

Disgusting.

For the love of God, people...do whatever it takes to keep this party from controlling the House, Senate and White House. They can''t be trusted any more than the Republicans!

[brownpride46]

The economy and stock market have tanked! But wait there''s more, Obama won''t [OR CAN''T] provide a Philadelphia court a certified copy of his ''original''long birth certificate. Obama isn''t eligible to be President?!

GOOGLE: BERG DISMISSAL OBAMA.

www.obamacrimes.com (A DEMOCRAT WEBSITE!)

A person [working for CBS, NBC, FOX, CNN, MNBC, Washington Post, NY Times, etc.] may cause EVIL to others not only by actions but by INACTION, and in either case he [or she] is justly accountable to them for the INJURY. -John Stuart Mill

[brownpride46]

Portfolio gone bust? Lost your lavish house? Couldn''t keep up with your lifestyle? Suck it up. Man up. We''ll survive and LEARN!

Don''t listen? Good!

Don''t GOOGLE: Berg dismissal Obama.

Don''t do your due diligence.
Don''t inform yourself.
Don''t vote.
Don''t question.

A person [working for CBS, NBC, FOX, CNN, MNBC, Washington Post, NY Times, etc.] may cause EVIL to others not only by actions but by INACTION, and in either case he [or she] is justly accountable to them for the INJURY. -John Stuart Mill

[rascal2u]

WHAT IF $700 BILLION - ISN''T ENOUGH

This is probably just a down payment - you know they''ll soon be back asking us for more. Once we''ve started down that slippery slope we''ll soon find out that it''s really a much longer more dangerous fall than any of us expected. But by then it will be too late.
They''ve be able to fool us so many times before - so why not do it just once more before leaving office. That way they''ll ensure there is no money left for any progressive ideas like fixing Social Security or healthcare. The joke is on us. The bad guys have already extracted all of the money (and with special tax breaks too!), they just left us with all the debt to deal with. So why not give them the $700,000,000,000 so they can have a really good hard laugh on us before slipping out the door. You can tell your grandkids how %u201CThe No New Taxes%u201D boys boldly struck again and robbed American%u2019s future.

[beej138]

The problem isn''t excessive deregulation. It''s TOO MUCH government interference in the market.

By creating a false bottom and irrational sense of security to the market with artificially low interest rates and new legislation to encouraging subprime loans to people who had no business receiving a mortgage in the first place, the table was set.

There are already laws in place to address the fraudulent practices that subsequently transpired.

Had we avoided the meaningless stimulus packages and just allowed the market to dip into a light recession and correct itself through a natural cycle, we wouldn''t be here.

A lot of people made bad personal and financial decisions. They must be held accountable for their actions...and not with taxpayer funds.

[brownpride46]

I applaud those who opposed the BAIL OUT. Suffer now. I want those hyperinflated/non-sustainable/live-beyond-your-means fortunes decimated. Reality check!

Don''t listen? Good!

Don''t GOOGLE: Berg dismissal Obama.

Don''t do your due diligence.
Don''t inform yourself.
Don''t vote.
Don''t question.

A person [working for CBS, NBC, FOX, CNN, MNBC, Washington Post, NY Times, etc.] may cause evil to others not only by actions but by inaction, and in either case he [or she] is justly accountable to them for the injury. -John Stuart Mill

[nuffera]

I saw that cardboard sign in front of the Wall Street stock market and it is hysterical! I saw it on What Really Happened.com. The people have spoken Nancy and Harry! And guess what??? Most of you *** listened, because if you didn''t you were gonna get creamed come election time!!! Let Wall Street fix the muck up along with Bush who is now taking his bottle of Jim Beam and his bag of pretzels and headed for the outhouse!!!

[beej138]

And I''d still like to know how this is Republicans'' fault.

The Democrats have a majority in both houses of Congress and a beleaguered president willing to sign whatever they put in front of him at this point.

It''s John McCain''s fault that 95 Democrats voted against the bill? That''s an interesting spin.

Perhaps, if Nancy Pelosi were an effective leader rather than a venomous snake, she''d have been able to twist a dozen more arms in her own party.

Of course, it was a disingenuous vote from the start. She knew the support wasn''t there and used her time at the podium to lay the groundwork for blaming Republicans after it failed. It''s complete garbage.

[beej138]

Democrats playing partisan politics with Americans'' investments and life savings?

Get out.

I thought liberals were against resorting to the politics of fear...or does that only apply to Republicans? Obviously, the same rules don''t apply when it''s a matter of Dems scaring minorities, seniors and low-income families into supporting their socialist agenda.

It was a political stunt from the onset...Reid requesting McCain''s assistance, only to rebuff his offer...Frank claiming to have enough votes in the House and Senate to pass the bill...Pelosi claiming progress and bipartisanship when House Republicans were never part of the original discussions.

These people are beneath contempt.

[forensic6]

WHEN THE BANKS WON T TRUST EACH OTHER %u2013 NEITHER SHOULD THE TAXPAYER AND HOMEOWNERS TRUST THE GREEDY BANKERS.

[newsjunky5]

abro seems to pick those of us who are opposed to the neocons and accuses us of being Bush supporters. Funny how "Bush" is a dirty word to Republicans now, especially to McCain.
Like when Bush himself accused the majority Democrat Congress of acting like a "teenager with a credit card" When it was him doing so. It''s called Displacement of Guilt. Also called "the pot calling the kettle black." Speaking of which, I don''t think abro is a ''bro at all. Which means he''s baiting us and misrepresenting himself.

[newsjunky5]

"Newsjunky5: you and your hero Bush got us here. "

----------------------------------
Never voted for any Bush. When Shrub ran against Gore I said,
"If this man wins, we will be at war in 6 months and he''ll be brought up on war crimes charges."

That was mind you, before 9/11. I knew this because of following his earlier tactics as Gov. of Texas, but mostly because during a debate about crime he said that in Texas [we handle murderers by putting them to death]. Then he looked into the camera an smirked. He relished putting people to death. That was the giveaway about him.
What makes you think I support Bush?

[abro915]

Newsjunky5: you and your hero Bush got us here. Now he''s asking for help to get us out. And the ones not voting for this are the scum sucking cowards who are more worried about whether they''ll get re-elected by idiots like you than about doing the right thing. And you''re proud of that?! I bet you''re the same idiot waving the flag when Bush our soldiers to Iraq.

[newsjunky5]

There is a great photo circulating of the protest on Wall Street over this most recent swindle. The background is the NYSE building, there''s a hand holding up a sign made of a piece of torn cardboard box. It says (and I must paraphrase here) -

"Jump you F*ckers"

Got a good chuckle out of it.