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Oh .
Oh .
Dow has been down as much as 700 today, and stabilized about 350 down for the afternoon.
As soon as this news hit the market, it plummeted to 530 down as of this post.
This could well be the largest single point loss of the Dow Jones Average ever.
I know a few conspiracy theorists who will be jumping up and down saying "THEY'RE GOING TO HERD US INTO FEMA DEATH CAMPS NOW, AREN'T YOU HAPPY!"
Hopefully they will head to the hills to avoid this and get eaten by bears.
the real republicans showed up today.
Here we go.
Isn't it good news that they just didn't reflexively throw money at this problem?
very good news.
This is outstanding.
DURING A presidential election - at nut cutting time; A SERIOUS financial crisis.
Congress is impotent. President is lame duck.
Does this bailout REALLY need to happen? Calls into congressional offices are running 100 to 1 against; but the people don't know wtf; they're just pissed. Congressment "don't want to lose theirs jobs" (btw, asshole congressmen; you're supposed to be their to serve the people; you should have a real job back home for when you're done).
Anyway, their are TWO individuals who have dominated the news for a couple of months. THEY, RIGHT NOW, are the only political leaders this country has. If this is so damned important - THEY are going to have to go out on a limb, speak to the American people, and get it done. AT LEAST one of them HAS to step up, take the bull by the horns, get on his bully pulpit, and get enough Americans behind this to jam it through. Either one could call a news conference and at least attempt to do so.
My predeiction? Both a couple of self-important, power hungry pussies. Even though they EACH know it NEEDS to happen, neither one is going to go out on limb. If neither tries to fix this in a real, substantive way. Neither deserves the presidency.
That, or maybe this really isn't that important for anyone outside of WalStreet?!
I'm glad some of them finally listened to their cons uents...I'd been hearing numbers of almost 10-1 against the bill. I also haven't seen a single economist who thinks that this will FIX the problem, and the ones who I have seen aren't too sure what will/will not happen if the bailout is passed/not passed.
what's not so funney is how close it was........the nay votes represent the people the yea votes represent the $$$$$$ and slime........amazing the people won out.
I heard one rep say that although this is a risky venture he would vote for it and not risk the futures of his kids and grandchildren even though it would not be a popular vote.
Those damn republican bas s!!!
Now if only they would listen their cons uents when it comes to other issues like the Iraq war.
Bush is totally in with the Democrats and Obama on this one....careful who you call a Republican.
Finally.
Tweety is on msnbc ing about the republicans killing the deal. LOL
Hey the dems have the majority...so they couldn't even get their own party in line.
But he's always been a bas .
All the coroporate money is behind the Democrats on this...every last bit of it. The fact that the Republicans are going against that and executing the will of their cons uents does loads for their credibility. Redemption.
Both ends of the spectrum hated the idea.
(shrugs)
We'll see. I didn't like it, but know that it was the least bad option.
I can only hope that no bailout happens and we get our wish.
We aren't going to like the result.
I heard that the banks were already planning on asking for more for their mortgage backed securities from the government than they were worth....they were going to eff the American Taxpayer.
For such a fan of altruism you should be celebrating this vote down...when the banks stop being greedy then they deserve to be bailed out.
Make no mistake about it...the Republicans are the ones trying to make this bill work for the American Tax Payer so they don't get screwed by Wall Street.
It all depends on what the foreigners do who are holding a vast amount of US debt.
If they start looking elsewhere.
My guess is a self-sustaining negative feeback loop. Bad thing A causes Bad Things B and C, that cause more of Bad Thing A, etc.
As I have said, we'll see. Dow Jones Ave looks to be closing around 600 points down.
That means that virtually all of the gains for the stocks in that average (holding aside that the composition has changed somewhat) for the last 8-9 years have been wiped out.
You say that but all I hear is :
I guess we can all go to the ballot box this fall and blame our scapegoat of choice.
Ron Paul strikes again!
That pipe is closed. They've alraedy said there will be no more investment until this bill is passed. How do you think today made them feel? The self sustaining negative feedback loops is exactly WHY there are people so worried adn these ers are playing politiacl games. "yaeh we'll vote" "GOTCHA!"
Yeah, you go tell that to your consituants when banks start dropping like flies and in turn companies who rely on short term loans fail to meet payroll and ulitmately fail as well. Gonna be great!
HAHAHAH PELOSI GOT TOLD
Awww , no paycheck?
This is another instance I disagree with president Bush on. If he wasn't the lesser of two evils, twice, we might have had a better president!
How many times have I said president Bush was way to liberal for me? McCain is too liberal for me too. Still, the lesser of two evils.
If president Bush was a conservative, he would veto such a bill if passed by congress.
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