Wonder where Johnny and Cindy Lou will have their fine dining experience tonight???
sukabi1
· 1 year ago
Dow down - 689.59 or - 6.19%
Nasdaq down -199.61 or -9.14% -- it's currently below 2,000
S&P down over 8%
Thank the Republicans for cratering your retirement.
naschkatzehussein
· 1 year ago
It finished down 777+, biggest loss ever.
Prolapsed_Anus
· 1 year ago
Financial industry rep. Paulson is the ringleader in a banker’s coup the results of which will decide America’s economic and political future for years to come. The coup leaders have drained tens of billions of dollars of liquidity from the already strained banking system to trigger a freeze in interbank lending and hasten a stock market crash. This, they believe, will force Congress to pass Paulson’s $770 billion bailout package without further congressional resistance. It’s blackmail.
PhoenixB
· 1 year ago
748 points! This is a collosal FAILURE of leadership across the spectrum. Pelosi, Boehner, Bush, McCain - you're FIRED!!!!
Ben Dover
· 1 year ago
I think I'm going to pull a few thousand out of the bank just to have the cash handy in case there's a "bank holiday" of some sort. And the Dow hasn't "settled" for the day yet, now at -770.59. What will the Asian markets do tonight?
Like the majority of Americans, I think better no bill than this one. I don't see anything wrong with letting the whole system crash. It's been dead for many years, and there's no way to fix it. Let it fall, and hopefully take the federal government with it, and then we can begin to rebuild. But until we let things take their course we can't begin to fix things.
I've been a Democrat for 40 years, but this is the end. They've lost all of their credibility. I'll never vote for them again. Good luck, Obama...you're going to need it.
marblex
· 1 year ago
Yes, Wall Street will hold its breath until it gets its way.
Problem is....the monetary debt system is DOOMED TO FAIL. It has reached its breaking point. No loans can be made because THERE IS NO ONE TO TAKE ON THE DEBT!!!! Debt is how money is created whereas once upon a time money actually had intrinsic value!! Now, unless the Earth's population remains in perpetual debt, no money can be created.
Better to let the thing crash and burn RIGHT NOW. It will regardless of how much piss we throw at this tornado.
BTW STOP trying to blame anyone for the fact that the bailout failed. The American people sent loud and clear messages to their representatives in congress whom I am very happy to report, for ONCE actually listened.
It's neither candidate's "fault" the tsunami of popular opposition to this last ditch effort to loot the treasury is the sole reason behind its failure. House reps are all up for re-election and even they understand it's over if they agree to indenture Americans to another 700 billion dollar debt servitude.
It's a good thing it failed or even the entire Third Army wouldn't be enough to stave off the riots.
Wild_Weasel
· 1 year ago
What has been done to America is treasonous!
Where's the call for justice?
Where are the arrests?
Why isn't the FBI confiscating Wall Street computers for evidence before the evidence is destroyed?
sukabi1
· 1 year ago
you know what John, there is a lot more to this than we've been told... the Fed has kept the interest rate low for the last couple of years to encourage the banks and other institutions to lend and have been pumping money into the system hand over fist ... and they haven't loosened up their lending even to other banks ... so how exactly was this supposed to work??
Chris From Maine
· 1 year ago
now its down 777.
worst one day drop ever. it was only down 680 the day it opened after 9/11.
wow.
Ginger_FL
· 1 year ago
MSNBC playing Pelosi presser clip again... they just played Barney's clip before the break. Huff Post has the clip Barney handing the rePIGS their ASSES!!!
dad
· 1 year ago
The credit markets remain close to frozen as banks are too afraid to lend — including loans to to other banks.
which one? aren't there only two left?
Ben Dover
· 1 year ago
Can we arrest Bush yet?
Webster
· 1 year ago
The "Impeachment is off the table" folks want to give him until January 20, 2009 to burnish his legacy.
Asterix
· 1 year ago
The shocker for me is Apple (AAPL)--down almost 18% for the day. The techs are getting hammered--a sub-2000 NASDAQ close today.
FunMe
· 1 year ago
777 are lucky numbers.
There is a meaning behind this, I am sure.
naschkatzehussein
· 1 year ago
Just imagine the comments from the religious right if it had been 666.
HereinDC
· 1 year ago
Maybe that college wants to rethink about putting the George W. Bush Presidential Library at their school.
Webster
· 1 year ago
Does this mean that CEOs will have to wash their own Mercedes?
nsr
· 1 year ago
Could be worse. Maybe will be, by the end of the week. So far, it's dropped to where it was 10/17/05. Bush's low is 7700 points-- it has a ways to go yet.
sukabi1
· 1 year ago
it's gonna get worse... there was another maybe trillion dollars or so lost on Wall Street today... tomorrow (or maybe tonight) there will be a couple more banks that will be seized because they can't make their payments...
naschkatzehussein
· 1 year ago
That dork Drudge is predicting the stocks as a whole are going to lose one third of their value, but *Democrat's fault*, of course.
nsr
· 1 year ago
Bush is like other screw-ups I've known. Doesn't do the work, and when there's a crisis, it's rush rush rush, and end up making things worse. We're going to be hearing a lot from Wall Street because they're desperate to walk off with as much of our money as possible. But if the market doesn't stabilize this week, the problem will obviously be deeper than their little plan would have fixed anyway. And as far as glitches, setbacks and shocking disasters go, a historic one-day drop in the Dow is par for the course. The biggest disaster was letting Bush cheat his way into the White House.
lucky hussein
· 1 year ago
today is history. question (and the tension) is now about what happens tomorrow? (and overeas) watch the hang seng go bye-bye...
red_dwarf
· 1 year ago
I believe the world is on hold for the next 48 hours until the Jewish holiday passes; no more voting until Thursday from what I've heard.
Maybe that's a good thing, who knows?
dad
· 1 year ago
the reason that this has happened is the bottom can no longer support the top. taking more from the bottom will not solve the problem. the top is too heavy.
PhoenixB
· 1 year ago
This is what happens when you put a complete FUCK-UP in the White House. You get a pile of SHIT!
I want to see the people who still approve of George W. Bush and STRANGLE them! I mean it!
Webster
· 1 year ago
Waterboard them first.
penrenter
· 1 year ago
>> This is why simply saying "too bad, no deal" is not a wise option, folks.
It's the only option. Things fall, some sanity will return. And hopefully some transparency and reasonable lending standards too.
Kansaskitty
· 1 year ago
The Bushies tried to cram this piece of crap down the throats of the American people and demanded passage. Been there, done that, another disaster to foist on the American taxpayer. The taxpayers have wised up and rose up in unison against it.
The Bushies should have explained any problems honestly(!) to Congress and the people and acted like they gave a shit about anything but saving their rich buddies' asses. They didn't, and tried to pull another Iraq on us and this is the result. Congress should have listened to the advice of the administration and then gone thru the normal legislative process & not get scared into rash action. Then they should have crafted their own legislation after hearings with a broad selection of economic experts. They chose to go with the deeply flawed Paulson bill as the basis, and it was too much for the American people to stomach.
Now, quit pointing fingers and get to work and do the normal legislative work to find the best answers for the PEOPLE, not Wall Street, then find a compromise the people can support. WE THE PEOPLE!! Yay!! (I had just posted this on a thread that had been abandoned - oops - so reposting here!)
red_dwarf
· 1 year ago
"..tried to pull another Iraq on us"
Well said kitty - exactly. Disaster capitilism at its finest. When FDR won the 1932 election he told the rePIGs (Hoover and his thugs) to kiss his ass and go take a hike - that when he took office he'd do things his way to fix the depression resulting from the "wild speculation of Wall Street using taxpayer's money". If Obama was a man of history he'd stand up and lay out a plan of his own instead of buckling in and kissing W's ass. Just my opinion. Oh, but there is a difference today v. 1932 - back then we only had fear to fear, now we have the speculation of fear to fear.
met00
· 1 year ago
Let me see. No new regulations. No real caps on compensation. No bailout at all for middle class business on main street (think for every $1 to Wall Street the gov't will guarantee $1 that can be lent to Main Street businesses (in business 3 years with retail sales between $300K-5M at prime). DOesn't address any of the root causes and amazingly enough, addresses only ONE symptom.
Definitely worth voting against.
PhoenixB
· 1 year ago
Have a 401K?
Don't worry, it will be gone before Thursday.
Verchiel
· 1 year ago
But we're sticking it to Teh Wall Street Fat Cats, so no problem. /"better no deal than this deal" idiocy off
PhoenixB
· 1 year ago
UNSUBSCRIBE
Wisconsin Liberal
· 1 year ago
I took alot of mine to pay bills, even after taxes I'll still be ahead!
rphillips4165
· 1 year ago
Everyone keeps saying that this bailout will open up more credit lending. Hasn't everybody figured out that its to much credit is why we are in this problem. No company or individuals own anything. Everything every one has is on credit. If the average household in this country is in debt for $60,000 then why would a bank loan them more? They can't afford to pay off what they already have. So why do they need more credit? If any bill like this passes it will not stop the depression that is coming it will only put it off for a few years.
naschkatzehussein
· 1 year ago
No kidding. It's a shell game they want to continue instead of knuckling down and looking at creating a brave new world. I want the Democratic Congress to do only what is absolutely necessary before Obama takes office in 2009. One of the few remaining Republicans I admire is Kevin Phillips the economist who has called the past 8 years economy a FIRE economy: Financial, Insurance, and Real Estate. You can't sustain an country on that. The capitalists have forgotten that an essential part of capitalism is production--which has either been shipped abroad or gone under over here.
Kansaskitty
· 1 year ago
Agreed. I recently read Kevin Phillips book, "Bad Money". A real eye opener. An economy based on financial services instead of manufacturing is a house of cards. In 1950, manufacturing was around 30% of GDP and financial services was about 11% - a good ratio because financials are supporting manufacturing. By 1990, the tables had turned and manufacturing was 16% of GDP, and financial services was 18% of GDP. In 2000, manufacturing was about 12% of GDP and financial services was 20.4% of GDP. I'm sure it has only worsened since then in the Bushie years.
Our entire economy is dependent on financial titans trying to make money out of nothing. The system is collapsing on itself whether they sucked up 700 billion tax dollars or not.
Wisconsin Liberal
· 1 year ago
I used to work in a grey iron foundry. We created wealth, we took scrap iron and turned it into productive products. Manufacturing creates wealth. Pushing paper is inherently inflationary. And those jobs paid wages that paid taxes our service sector wages don't pay the kind of taxes that good paying, family supporting jobs do. And it doesn't take a college education to figure that's why we are in trouble.
ca_bwana
· 1 year ago
remember when the dow first closed above 10,000? grasso threw 'Dow 10,000' ball caps to the traders on the NYSE floor.
maybe they still have a few in storage. could come in handy again.
but forget the dow and the thirty stocks it measures. the s&p 500 is the index pros watch and it was off nearly nine percent. there's no bottom in sight. i wouldn't be surprised to see the market dump another 20 percent. $700 billion is a trifle compared to what was lost today alone.
Ginger_FL
· 1 year ago
Randi has been talking about the "crisis" and she also feel like this is not a real crisis. She said what we're seeing is people moving their money into safer havens for their money. She pointed out that WAMU did not fail, it was purchased....Wachovia was also PURCHASED. They didn't fail. I think most of us realize after 8 years of lies and abuse from the WH that we're being taken for a ride yet again.....
tbhull
· 1 year ago
Randi Rhodes is simply wrong. WAMA first failed and then its deposits and some of its assets (cherry picked by JP Morgan) were purchased by JP Morgna from the FDIC. Rest assured it failed. Look at the shareholders and unsecured debtholders of WAMU, they got $0. Randi Rhodes is simply misunderstanding the situtation here as it relates to WAMU.
Kansaskitty
· 1 year ago
Oh, and by the way, Pelosi needs to be replaced as Speaker of the House. She completely failed at her duty to uphold the Constitution. She chose to let Bush & Cheney off the hook for their crimes, so the crimes against the people have continues unabated. She's now so compromised she is not going to be effective as speaker, and the people have no confidence that their government is not composed of a lawless bunch of criminals.
naschkatzehussein
· 1 year ago
I agree. Harry Reid too. The two tits on the Democratic bull.
tbhull
· 1 year ago
I agree 100%. she is a complete fucking joke and failure.
Wisconsin Liberal
· 1 year ago
She has such a snarly attitude when she talks, I feel she is totally fake.
Chris From Maine
· 1 year ago
and what about tomorrow? and the day after?
An_American_Karol
· 1 year ago
The GOP in Congress wanted the drop to happen. This way John McCain can play the big shot and get the holdouts to play ball. These are the same people who praised McCain for all his "leadership" over the weekend. When that didn't work out for them, they decided to allow the stock market to really fall and scare the crap out of people. Now McCain will ride back into town, have another dinner out with Lieberman, and watch as the Republicans again prase his leadership in finally doing what the Democrats could not, bring the Republicans onboard. This is not below the Republican running for office and trying to get McCain elected. They don't give a shit about people hurting and the mess they made.
Chris From Maine
· 1 year ago
in essence, the GOP destroyed the economy because Pelosi hurt their feelings.
McCain failed, the GOP failed, Bush failed. This is all their fault, and the people know it.
sukabi1
· 1 year ago
Except that the Repubs have been planning how to ditch Johnny from the party... He's not going to be able to "ride to the rescue" because his own party doesn't want him.
Too many "journalists" and other folks have been paying attention to his flailing, lying and stunts for him to be able to pull this off... plus he and his campaign staff have been grossly incompetent... and it shows in everything from his pick of Palin to his stunt last week...
Paulson just spewed some nonsense about a credit crunch.
Wisconsin Liberal
· 1 year ago
What we really need is someone like George Bailey in "It's a Wonderful life". We can get through this if we calm down and don't panic. It should be interesting the next few days.
Wild_Weasel
· 1 year ago
Paulson just said "We have significant tools in our toolkit, but they are not sufficient" for the current crisis.
Yeah, they need a gallows in that toolkit.
Why isn't the FBI confiscating the Wall Street computers before the evidence is destroyed?
Wall Street is a crime scene.
CobaltBlue
· 1 year ago
These freaks on CNN are broadcasting, with such irresponsible incendiary fearful language that people won't get pay checks because companies won't have acces to credit. No money for food - no money for housing. Predicitng the mother of all depressions.
Nothing like starting massive panic.
Get those fear mongers off the air - Freeze their access to the mic. This is not the time for doomsayer antics for ratings.
We need calm and responsible leadership. This is the time for strength and wisdom. We'll see who Americas real leaders are.
sukabi1
· 1 year ago
if that's the case, expect a run on the banks starting in 3.... 2..... 1....
tomorrow should be "fun"
marblex
· 1 year ago
This, and every other panic, recession and depression are deliberately caused. They are done to enable masses of wealth to transfer. The numbers at which the market closes are signals to insiders as to dates upon which buy/sells are to be done.
This debt based monetary system is top heavy and cannot possibly sustain itself. 700 billion more debt would only stave off temporarily the inevitable collapse of a monetary system that requires constant and unending debt. Over the last 30 years as good jobs were shipped overseas and replaced by low pay no skill service jobs, so were wages replaced by credit. Of course the catch is, you're in forever for the vig (interest). Our congress has enabled bankers to charge usurious and outrageous interest on credit, on loans, on anything they could convert to debt, and then foreclosed the only possible relief from that debt, namely, bankruptcy. A debtor society can never free itself of debt or new money ceases to issue. Hence we are all debt slaves.
Good riddance to this system. I hope it crashes and burns. Oh and yes, we are ALL in for a rough time. But that is inevitable based upon the system we live in.
Frankly, if we are able and willing to do anything to try to repair the damage, it must be something that results from a deliberative process that engages the finest and most knowledgeable people in the economic field and solicits their input in fashioning a solution. That necessarily excludes the greedy self-serving assclowns that got us into this mess. Our congress is staffed with average people of ordinary intelligence (most of em) and most of them are far from expert on the economy. The legislative response, if there is to be one, must be one that foists the COSTS of this onto those responsible.
The DOJ and SEC should promptly launch a criminal probe into the very questionable activities of the robber barons who have caused this mess and who will deliberately continue to exacerbate it in the hopes that they can blackmail congress into feeding their credit habit. I also like repealing Bushie's tax cuts for the filthy rich and making THEM pay for it.
But it is time to end the madness. Further debt can only prolong the inevitable -- if that. I have yet to see one cogent piece of evidence or hear one persuasive argument by anyone knowledgeable in economics that this hairbrained bailout will have the desired effect; or that 700 billion and not some other amount is needed.
In any event, I am sorry if any of you lost money today. But it was never real in the first place. If they hadn't stolen it from you today, they would have some other time.
Remember, the House did NOT HAVE TO SCHEDULE THIS VOTE TILL AFTER THE MARKET CLOSED. WHY DO YOU THINK PELOSI DID IT THIS WAY?
P.S. Note to members of Pelosi's district ... PUHLEEZE GET RID OF HER
sukabi1
· 1 year ago
ANY investigations the DOJ and SEC would launch as they are currently staffed would be useless as they are filled with Bush cronies and Wall Street insiders... so as things stand now, with the congress we have, the DOJ and SEC there won't be anything even remotely constructive done to help fix the problem or to jail those responsible.
I agree that there should be a "rebuild" of the system done with folks that are actual experts instead of the Wall Street insiders and mental midgets that have been running the con.
lucky hussein
· 1 year ago
that is pretty sick... but hey, their ratings must be smokin' ! </sarcasm>
Rob Mule
· 1 year ago
The big media corps have a large vested interest...
marblex
· 1 year ago
Interesting how no one is mentioning why the vote was held BEFORE the markets closed today.
It's time to face facts. This is a holdup. Period.
Wild_Weasel
· 1 year ago
George Bush and his cronies have won.
Grover Norquist's wet dream has come true.
- There's NO money for the next administration to promote a better health care system.
- There's NO money to restore the regulatory programs on pharmaceuticals, food, bank funds, stock investments, pension funds.
- There's NO money to fix MediCare program.
- There's NO money to fix Social Security.
- There's NO money to fix broken public infrastructure.
- There's NO money to fix our broken educational system.
- And there's NO money to build the prisons needed to incarcerate the crooks who have perpetrated this fraud on America.
Where's the justice?
melissap
· 1 year ago
While this will be horrible - it's better than the alternative that the bailout offered - i.e.: a chance for the wealthiest investors to rip their money out, and the inflation rate spiraling out of control for the rest of us. The Bush Economic mess - and let's be fair - it started before Bush with deregulation - has left us with two futures: Deflation or Inflation. Deflation is by far, by miles, the better alternative. There was no saving this. At least Obama will have alternatives. If the bailout passes, his hands will be tied, and there will be no FDRing us out of it.
PhoenixB
· 1 year ago
The $700 bailout was a scam.
I want to see the resignations of BUSH, CHENEY, PELOSI, and BOEHNER! They deserve to be thrown out now!
tbhull
· 1 year ago
Without question this was a repub set-up that the dems almost fell for.
aquarius2
· 1 year ago
And then what? What is your solution to this mess?
tbhull
· 1 year ago
Market driven results, even if it means financial failure and massive wealth devaluation, is what is required. That is the only way to unwind the massive leverage.
aquarius2
· 1 year ago
Is that called a depression? The whole country suffers because of Wall Street greed, no matter which way it goes.
tbhull
· 1 year ago
Maybe it is maybe it is not, we will just wait and see. Government cannot stop depressions.
hawkseye
· 1 year ago
Government can and must regulate so that consumers are protected. That is the painful lesson of the terrible situation we find ourselves in now.
tbhull
· 1 year ago
I agree with more regulation. That will prevent these same problems in the future, however, this current problem cannot be soplved by regulation now. The time for regulation has passed and this is what caused , in whole or in part, our current dilemna.
hawkseye
· 1 year ago
There is not a sharp line defining the beginning or end of this terrible crisis. We always need regulations in place.
tbhull
· 1 year ago
Agreed. But regulations enacted tomorrow will not solve the currrent crisis.
Fireblazes(cheetohsandcatfood)
· 1 year ago
Can we all come over to your house to eat, because that is what depressions are really about. Massive unemployment and widespread starvation.
tbhull
· 1 year ago
You bring the wine and you are welcome to come over.
Fireblazes(cheetohsandcatfood)
· 1 year ago
Cool, I have just bottled my second batch. First was a pinot noir, then Cabernet, next is a Shiraz. After that I am doing a Barolo.
tbhull
· 1 year ago
Sweet. I have the veggies in the fridge, the beef in the freezer, and UI am ready to fire up the grill. To give it a period feel and as an homage to my redneck roots, I have Bob Will on the stereo for the requisite rug cutting before and after. If she won't eat a bisqit feed her cornbread.
hawkseye
· 1 year ago
The Great Depression of the 'Thirties did not end until the end of World War II. Some say it didn't really end until the beginning of the 'Fifties. It took a terrible war to get the country on full employment and to begin to re-vitalize industry and banks. The G.I. Bill set up a vibrant middle class and turned the tiny housing industry into a gold mine. But my parents, who had lived through the foreclosures of the 'Thirties, were too frightened to buy a house until the 'Sixties. If we had relied on market driven results, others would have been just as frightened as my parents and recovery might not have been possible.
tbhull
· 1 year ago
My point exactly. The government tried and tried throughout the 30s ands what happended, not a god damn thing. The Depression persisted.
hawkseye
· 1 year ago
Even a quick read of the history of the time shows that the New Deal brought helpful change for most people. It was not the complete cure. When a government totally deregulates financial markets, it is going to get chaos. FDR established regulation and it saw us through until Reagan and trickle down ideas began to take over.
tbhull
· 1 year ago
I agree, but the time for regulation to cure this crisis, leveraged debt at multiples 30 to 1, has passed.
Regulation will payoff from keeping this from happening again in the future, however, it will not and cannot undo this tangled web of leverage debt and faillure. Only the martket can unwind this and the results are for us all to experience.
Fireblazes(cheetohsandcatfood)
· 1 year ago
This is the McCain solution, you do kinda look like john in lipstick.
dances_with_beagles
· 1 year ago
"Seven years of growth..." . The growth over the last several years was a complete lie. The growth was all based on the housing sector, a sector that was growing by lending money that didn't really exist and speculation. All that is happenig now is that the scam of the last few years is becoming painfully apparent.
KerrynowCampau
· 1 year ago
Fueled by low low interest rates and easy easy credit
aquarius2
· 1 year ago
You know what it sounds like. Nobody likes this bill, nobody which is why it was important to be bipartisan. It seems to me the Republicans lied about the number of votes, thereby thinking the Dems would approve the bill. But the Dems only got 2/3 of the membership to vote yes, and the Republicans were stunned when the bill fail.
An_American_Karol
· 1 year ago
And the Democrats have to hold strong to the percentage. They must force the Republicans to assume half the responsibility for the bailout. The chickenshit Republicans can not weasle out this time.
An_American_Karol
· 1 year ago
Obama is out calling for calm; McCain is out blaming Obama. Which is the leader?
Ginger_FL
· 1 year ago
Mcgrumpy going to spew soon.....
Some lady they're interviewing now just corrected host and said ....She is from a convervative site and DOES NOT Speak for McGrumpy
SNAP !!
AdrianBrowne
· 1 year ago
“I’ve never been afraid of stepping in to solve problems for the American people, and I’m not going to stop now,” McCain told a rally in Columbus, Ohio. “Senator Obama took a very different approach to the crisis our country faced. At first he didn’t want to get involved. Then he was monitoring the situation.”
*Stage Direction: creepy grin coupled with a thumbs-up*
aquarius2
· 1 year ago
That whole clip of McCain was just creepy.
sukabi1
· 1 year ago
seriously? that's what Mr. "The fundamentals of the economy are strong" said??? Mr. "I saved the bailout and the economy" just prior to it being voted down... that's what the guy who derailed the talks just said???
he's f^cking delusional if that's what he's selling and expects folks to just buy it...
An_American_Karol
· 1 year ago
No one believes Bush anymore, not even those die hard Republicans who fell for his "mushroom" cloud and got us into war with Iraq. The Republicans are completely complicit and now must distance themselves as much as possible. I hope the voters in their states see through this bullshit and remember all the times these assholes sided with Bush knowing he was lying to the American people.
Webster
· 1 year ago
BTW, Phil Gramm called, and said we need to stop "whining."
PhoenixB
· 1 year ago
Oh right, this is just a "mental" recession.
Bostonian_Queer_in_Dallas
· 1 year ago
Hey America! Who would you rather have a beer with now? Assholes. Unhappy, look in your fucking mirror. You let this fratboy win twice. At least half of you did.
FunMe
· 1 year ago
Thank you.
That's EXACTLY what those bushites should be told a lot this week.
PhoenixB
· 1 year ago
I didn't vote for that moron!
Bostonian_Queer_in_Dallas
· 1 year ago
was not referring to anyone who blogs here...was referring to the fat lazy Joe Six Packs out there who vote based on bullshit like jesus and nascar and babe-a-licious Veep candidates.
PhoenixB
· 1 year ago
UNSUBSCRIBE
Rob Mule
· 1 year ago
McCain's last best chance to regain joementum??? Yup, another bizarre stunt. Since the Bristol/Levi shotgun wedding didn't do well in focus groups, it’s a short hop to flushing Palin (a contract with the Travel Channel before the week is out) for the adorable 5 year old clone of Ronald Reagan, fresh from a clean but mysterious and secretive south east Asian clinic. Plus--McCain/Reagan2.0're the same height and walk identically!!!
FunMe
· 1 year ago
Here's a simple solution:
Get every CEO and "patriotic" wealthy American (ya know, the ones with the many tax cuts the last 8 years) ... get them to help finance the $700 billion "rescue" plan.
Let's see, very simple math says: get 700 people, wealthy people (that's not that many ya know) ... get 700 to contribute $1billion a piece and PRESTO! problem is solved.
Now that's a solution that ALL Americans would support.
marblex
· 1 year ago
/signed
lastDem
· 1 year ago
Not to rude but where as Christian and Jewish Congressmen can work on Sunday, why does the gov't basically shut down for a Jewish holiday . If this was Easter, I think they (congress) would be working.
met00
· 1 year ago
no, they wouldn't.
and that is why many school districts are closed, and many financial institutions. Because they can't operate with a large part of their staff missing.
And rather than play "Easter Sunday" or "Ash Wednesday" try using Christmas - when was the last time Congress was active during Christmas? Rosh Hashana and Yom Kipper are two days that rank in attendance to Christmas as the percent of adherents that attend services, Easter doesn't come close.
hawkseye
· 1 year ago
As Paul Krugman said today, we are now a banana republic with nukes.
LKN
· 1 year ago
Just remember that the stock market is valued in dollars. Dow 10,000 under Clinton was worth more than Dow 10,000 under Bush, because the dollar is now worth only 60% of what it was worth under Clinton.
dasein211
· 1 year ago
Joe John. I'm a staunch democrat and an Obama supporter but I believe this is the best thing that could have happened. I dont think it wise to bailout banksters, It's like losing your house and then being given the bill to bail out the bank repossesing your home. It's bullshit. Let the markets fail and we can take that 700 billion and put it to work oin infrastructure, heatlh care and education where it will have the effect of creating secure jobs. Roosevelt didn't print to save the country from collapse for a reason. There is no sense in printing to save the economy from the same situation now. we'll do far better in a depression than a hyperinflation.
Fireblazes(cheetohsandcatfood)
· 1 year ago
The same people that caused this mess are the same people telling you to not touch your 401k investements and leave it heavily heavily in stocks. That alone should have given you pause.
Rev_Sacrilege
· 1 year ago
I agree with Dasein. Wall Street isn't moving because they're waiting for a bailout, hence the credit freeze. It's best for everyone if the bailout doesn't pass.
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Nasdaq down -199.61 or -9.14% -- it's currently below 2,000
S&P down over 8%
Thank the Republicans for cratering your retirement.
And the Dow hasn't "settled" for the day yet, now at -770.59.
What will the Asian markets do tonight?
I've been a Democrat for 40 years, but this is the end. They've lost all of their credibility. I'll never vote for them again. Good luck, Obama...you're going to need it.
Problem is....the monetary debt system is DOOMED TO FAIL. It has reached its breaking point. No loans can be made because THERE IS NO ONE TO TAKE ON THE DEBT!!!! Debt is how money is created whereas once upon a time money actually had intrinsic value!! Now, unless the Earth's population remains in perpetual debt, no money can be created.
Better to let the thing crash and burn RIGHT NOW. It will regardless of how much piss we throw at this tornado.
BTW STOP trying to blame anyone for the fact that the bailout failed. The American people sent loud and clear messages to their representatives in congress whom I am very happy to report, for ONCE actually listened.
It's neither candidate's "fault" the tsunami of popular opposition to this last ditch effort to loot the treasury is the sole reason behind its failure. House reps are all up for re-election and even they understand it's over if they agree to indenture Americans to another 700 billion dollar debt servitude.
It's a good thing it failed or even the entire Third Army wouldn't be enough to stave off the riots.
Where's the call for justice?
Where are the arrests?
Why isn't the FBI confiscating Wall Street computers for evidence before the evidence is destroyed?
worst one day drop ever. it was only down 680 the day it opened after 9/11.
wow.
they just played Barney's clip before the break.
Huff Post has the clip Barney handing the rePIGS their ASSES!!!
which one? aren't there only two left?
There is a meaning behind this, I am sure.
Maybe that's a good thing, who knows?
I want to see the people who still approve of George W. Bush and STRANGLE them! I mean it!
It's the only option. Things fall, some sanity will return. And hopefully some transparency and reasonable lending standards too.
The Bushies should have explained any problems honestly(!) to Congress and the people and acted like they gave a shit about anything but saving their rich buddies' asses. They didn't, and tried to pull another Iraq on us and this is the result. Congress should have listened to the advice of the administration and then gone thru the normal legislative process & not get scared into rash action. Then they should have crafted their own legislation after hearings with a broad selection of economic experts. They chose to go with the deeply flawed Paulson bill as the basis, and it was too much for the American people to stomach.
Now, quit pointing fingers and get to work and do the normal legislative work to find the best answers for the PEOPLE, not Wall Street, then find a compromise the people can support. WE THE PEOPLE!! Yay!!
(I had just posted this on a thread that had been abandoned - oops - so reposting here!)
Well said kitty - exactly. Disaster capitilism at its finest. When FDR won the 1932 election he told the rePIGs (Hoover and his thugs) to kiss his ass and go take a hike - that when he took office he'd do things his way to fix the depression resulting from the "wild speculation of Wall Street using taxpayer's money". If Obama was a man of history he'd stand up and lay out a plan of his own instead of buckling in and kissing W's ass. Just my opinion. Oh, but there is a difference today v. 1932 - back then we only had fear to fear, now we have the speculation of fear to fear.
Definitely worth voting against.
Don't worry, it will be gone before Thursday.
Our entire economy is dependent on financial titans trying to make money out of nothing. The system is collapsing on itself whether they sucked up 700 billion tax dollars or not.
maybe they still have a few in storage. could come in handy again.
but forget the dow and the thirty stocks it measures. the s&p 500 is the index pros watch and it was off nearly nine percent. there's no bottom in sight. i wouldn't be surprised to see the market dump another 20 percent. $700 billion is a trifle compared to what was lost today alone.
She said what we're seeing is people moving their money into safer havens for their money.
She pointed out that WAMU did not fail, it was purchased....Wachovia was also PURCHASED. They didn't fail.
I think most of us realize after 8 years of lies and abuse from the WH that we're being taken for a ride yet again.....
These are the same people who praised McCain for all his "leadership" over the weekend. When that didn't work out for them, they decided to allow the stock market to really fall and scare the crap out of people. Now McCain will ride back into town, have another dinner out with Lieberman, and watch as the Republicans again prase his leadership in finally doing what the Democrats could not, bring the Republicans onboard.
This is not below the Republican running for office and trying to get McCain elected. They don't give a shit about people hurting and the mess they made.
McCain failed, the GOP failed, Bush failed. This is all their fault, and the people know it.
Too many "journalists" and other folks have been paying attention to his flailing, lying and stunts for him to be able to pull this off... plus he and his campaign staff have been grossly incompetent... and it shows in everything from his pick of Palin to his stunt last week...
I think Johnny boy's all crapped out.
Yeah, they need a gallows in that toolkit.
Why isn't the FBI confiscating the Wall Street computers before the evidence is destroyed?
Wall Street is a crime scene.
Nothing like starting massive panic.
Get those fear mongers off the air - Freeze their access to the mic. This is not the time for doomsayer antics for ratings.
We need calm and responsible leadership. This is the time for strength and wisdom. We'll see who Americas real leaders are.
tomorrow should be "fun"
This debt based monetary system is top heavy and cannot possibly sustain itself. 700 billion more debt would only stave off temporarily the inevitable collapse of a monetary system that requires constant and unending debt. Over the last 30 years as good jobs were shipped overseas and replaced by low pay no skill service jobs, so were wages replaced by credit. Of course the catch is, you're in forever for the vig (interest). Our congress has enabled bankers to charge usurious and outrageous interest on credit, on loans, on anything they could convert to debt, and then foreclosed the only possible relief from that debt, namely, bankruptcy. A debtor society can never free itself of debt or new money ceases to issue. Hence we are all debt slaves.
Good riddance to this system. I hope it crashes and burns. Oh and yes, we are ALL in for a rough time. But that is inevitable based upon the system we live in.
Frankly, if we are able and willing to do anything to try to repair the damage, it must be something that results from a deliberative process that engages the finest and most knowledgeable people in the economic field and solicits their input in fashioning a solution. That necessarily excludes the greedy self-serving assclowns that got us into this mess. Our congress is staffed with average people of ordinary intelligence (most of em) and most of them are far from expert on the economy. The legislative response, if there is to be one, must be one that foists the COSTS of this onto those responsible.
The DOJ and SEC should promptly launch a criminal probe into the very questionable activities of the robber barons who have caused this mess and who will deliberately continue to exacerbate it in the hopes that they can blackmail congress into feeding their credit habit. I also like repealing Bushie's tax cuts for the filthy rich and making THEM pay for it.
But it is time to end the madness. Further debt can only prolong the inevitable -- if that. I have yet to see one cogent piece of evidence or hear one persuasive argument by anyone knowledgeable in economics that this hairbrained bailout will have the desired effect; or that 700 billion and not some other amount is needed.
In any event, I am sorry if any of you lost money today. But it was never real in the first place. If they hadn't stolen it from you today, they would have some other time.
Remember, the House did NOT HAVE TO SCHEDULE THIS VOTE TILL AFTER THE MARKET CLOSED. WHY DO YOU THINK PELOSI DID IT THIS WAY?
P.S. Note to members of Pelosi's district ... PUHLEEZE GET RID OF HER
I agree that there should be a "rebuild" of the system done with folks that are actual experts instead of the Wall Street insiders and mental midgets that have been running the con.
It's time to face facts. This is a holdup. Period.
Grover Norquist's wet dream has come true.
- There's NO money for the next administration to promote a better health care system.
- There's NO money to restore the regulatory programs on pharmaceuticals, food, bank funds, stock investments, pension funds.
- There's NO money to fix MediCare program.
- There's NO money to fix Social Security.
- There's NO money to fix broken public infrastructure.
- There's NO money to fix our broken educational system.
- And there's NO money to build the prisons needed to incarcerate the crooks who have perpetrated this fraud on America.
Where's the justice?
I want to see the resignations of BUSH, CHENEY, PELOSI, and BOEHNER! They deserve to be thrown out now!
When a government totally deregulates financial markets, it is going to get chaos.
FDR established regulation and it saw us through until Reagan and trickle down ideas began to take over.
Regulation will payoff from keeping this from happening again in the future, however, it will not and cannot undo this tangled web of leverage debt and faillure. Only the martket can unwind this and the results are for us all to experience.
The chickenshit Republicans can not weasle out this time.
Some lady they're interviewing now just corrected host and said ....She is from a convervative site and DOES NOT Speak for McGrumpy
SNAP !!
*Stage Direction: creepy grin coupled with a thumbs-up*
he's f^cking delusional if that's what he's selling and expects folks to just buy it...
The Republicans are completely complicit and now must distance themselves as much as possible.
I hope the voters in their states see through this bullshit and remember all the times these assholes sided with Bush knowing he was lying to the American people.
That's EXACTLY what those bushites should be told a lot this week.
Yup, another bizarre stunt.
Since the Bristol/Levi shotgun wedding didn't do well in focus groups, it’s a short hop to flushing Palin (a contract with the Travel Channel before the week is out) for the adorable 5 year old clone of Ronald Reagan, fresh from a clean but mysterious and secretive south east Asian clinic.
Plus--McCain/Reagan2.0're the same height and walk identically!!!
Get every CEO and "patriotic" wealthy American (ya know, the ones with the many tax cuts the last 8 years) ... get them to help finance the $700 billion "rescue" plan.
Let's see, very simple math says: get 700 people, wealthy people (that's not that many ya know) ... get 700 to contribute $1billion a piece and PRESTO! problem is solved.
Now that's a solution that ALL Americans would support.
and that is why many school districts are closed, and many financial institutions. Because they can't operate with a large part of their staff missing.
And rather than play "Easter Sunday" or "Ash Wednesday" try using Christmas - when was the last time Congress was active during Christmas? Rosh Hashana and Yom Kipper are two days that rank in attendance to Christmas as the percent of adherents that attend services, Easter doesn't come close.