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Massive financial bailout fails in the House

I just saw that. Alot of democrat Nays in there as well that I didn't expect. And alot more Republican nays than I would have thought.
 
Dems 141 Y, 94 N
Reps 66 Y, 132 N

total: 207-226
 
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I am seeing headlines that the Dow has dropped between 400 to 600 points.
 
CNBC is hilarious right now

"So basically, what happens tomorrow when the news reports that the Republicans are responsible for a 600 point drop in the dow as they vote to ruin the economy, kill puppies, and trip your elderly grandmother as she tries to cross the street?"
 
LET THEM FAIL!!!

I know that a lot of people will have problems if the bail out doesn't happen (I mean the additional bailout 700 billion) but I say that these companies NEED to go belly up as an example. Hey, no body wants to bail me out if I make a bad stock purchase and I lose all my money so I say, **** wall street.

Yes the economy will get worse but it will rebound and in the long term we'll be healthier for it. Not only that but I think republicans should see the result of their ideals and of leze faire economics.
 
RightinNYC said:
CNBC is hilarious right now

"So basically, what happens tomorrow when the news reports that the Republicans are responsible for a 600 point drop in the dow as they vote to ruin the economy, kill puppies, and trip your elderly grandmother as she tries to cross the street?"
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....so that she can buy dogfood instead of medicine.
 
hahahahahhaa

if you turn on one of the channels like cnbc, the financial anchors are watching a live feed of whats happening in the house and have NO idea whats going on. They're listening to the parliamentary discussions and just staring blankly, completely confused by the procedural motions.

once they finally got a news anchor up there who could explain that it meant the bill failed, the dow dropped another 150.
 
News anchors cause Dow to drop 150 while listening to the House vote.
 
Re: Breaking News: House defeats $700 billion bailout package

duplicate thread
 
The failure of McCain, Obama, Pelosi, the Republicans in the House, Democrats, etc. is that they made this into a political football rather than do what is in the best interest of the financial markets and the overall economy.

It's very disappointing.

Politics is sooooo ugly.
 
American said:
News anchors cause Dow to drop 150 while listening to the House vote.
Click to expand...

It really is an enlightening look into how people make their decisions. They were reporting that the traders on some floors were all just stopped, watching channels like CNN and CNBC to see what was happening. After the bill had already failed but before the anchors could explain that, the dow was fine. As soon as they said **** was over, the dow dropped.

Any floor traders out there who understood how the house worked probably just made a nice grip of cash.
 
How dare you call Obama and Pelosi failures!!
 
I thought McCain was able to fix the problem. :shock:

;)

On yesterday's Meet the Press:

MR. SCHMIDT: He's happy that there appears to be a framework completed. Earlier in the week, when Senator McCain came back to Washington, there had been no deal reached. All the financial experts in both parties were saying that this could be an economic catastrophe if, by Monday morning, if the markets opened without a deal done. What Senator McCain was able to do was to help bring all of the parties to the table, including the House Republicans, whose votes were needed to pass this. So it appears that great progress has been made. We look forward to--Senator McCain looks forward to reading the fine print of this. But it does appear that great progress has been made overnight.

Sept. 28: Fmr. President Bill Clinton, Steve Schmidt, David Axelrod, Rep. Mark Udall (D), Fmr. Rep. Bob Schaffer (R) - Meet the Press, online at MSNBC - MSNBC.com
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RightinNYC said:
It really is an enlightening look into how people make their decisions. They were reporting that the traders on some floors were all just stopped, watching channels like CNN and CNBC to see what was happening. After the bill had already failed but before the anchors could explain that, the dow was fine. As soon as they said **** was over, the dow dropped.

Any floor traders out there who understood how the house worked probably just made a nice grip of cash.
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Why don't we ask Franklin Raines?
 
House Republicans are saying that Pelosi's last minute hyper-partisan speech is what killed the support.
 
Will McCain and Palin suspend their campaign and seek a postponement of the VP debate on Thursday? :cool:
 
MC.no.spin said:
The failure of McCain, Obama, Pelosi, the Republicans in the House, Democrats, etc. is that they made this into a political football rather than do what is in the best interest of the financial markets and the overall economy.

It's very disappointing.

Politics is sooooo ugly.
Click to expand...
I didn't think there was a consensus that the bailout was the only way or the best way to handle this.
 
aps said:
I thought McCain was able to fix the problem. :shock:

;)
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Obama supposedly called House Democrats and told them to vote in favor of the bill. An interesting sign of his power that many Democrats did not listen to him.
 
Panther said:
House Republicans are saying that Pelosi's last minute hyper-partisan speech is what killed the support.
Click to expand...

Wow. She must be a very powerful woman to be able to do that.

Do you ever write a non-partisan post?
 
I for one am glad. Once the bailout was announced it kinda seemed like a foregone conclusion. There was a lot of debate about the details but it seemed as if the bill would pass without question despite a 90%+ opposition rate among the people. Even though it failed it was too damned close

So, another bank has bit the dust, the only plan to recieve serious discussion has fallen as well, where do we go from here?
 
MC.no.spin said:
Obama supposedly called House Democrats and told them to vote in favor of the bill. An interesting sign of his power that many Democrats did not listen to him.
Click to expand...
Maybe he called the ones already voting yes by accident.
 
I had ALMOST given up on any sensible decision being taken on this Wall Street Bail out.
At the moment my faith in Politicians has been partially restored.
Mr. Paulson had (for his own reasons) the idea that the US Taxpayer should bail out these Banks that decided to package and sell junk as Gold.
If I as an individual bought stock that subsequently crashed, would Mr. Paulson be so eagerly ready to bail me out?, somehow I think not.
Their is one very important (nay, vital) manner by which this mess may be stabilized, namely by an immediate strengthening of the US $.
However it would seem that the Government is unable / unwilling to take this action.
Why? I have no idea.
 
jujuman13 said:
I had ALMOST given up on any sensible decision being taken on this Wall Street Bail out.
At the moment my faith in Politicians has been partially restored.
Mr. Paulson had (for his own reasons) the idea that the US Taxpayer should bail out these Banks that decided to package and sell junk as Gold.
If I as an individual bought stock that subsequently crashed, would Mr. Paulson be so eagerly ready to bail me out?, somehow I think not.
Their is one very important (nay, vital) manner by which this mess may be stabilized, namely by an immediate strengthening of the US $.
However it would seem that the Government is unable / unwilling to take this action.
Why? I have no idea.
Click to expand...
Notice it's a WALL STREET bailout? Let's see, who's being bailed out???? WALL STREET is being bailed out.
 
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