DISQUS

Fireblazes(CheetohsandCatfood) · 1 year ago

http://news.yahoo.com/s/ap/20080930/ap_on_el_pr...

McCain at dead end as House rejects bailout plan

dad · 1 year ago

Let me be clear: I have a modest retirement account that I've worked hard to save. I'm worried when I see what's happened to the market. But I also realize that while Wall Street says this is a new crisis, there's been a health care, wage, job and pension crisis that's been going on for the last decade - and so forgive me if I find it a bit ridiculous that while no one said we had to act quickly on those life-and-death crises, we are supposed to nonetheless see this banking sector problem as Armageddon that demands handing over 5% of our entire economy to one unelected political appointee (Henry Paulson). In that sense, all the alarmism - especially coming from such a discredited Washington crowd - rings a bit hollow.

I'm not saying there's not a credit problem - there is. But we cannot let the authoritarians use that credit problem as a rationale to trample our deliberative democracy in the name of helping their cronies. If we hand over $700 billion to one man - Henry Paulson - under insane deadline demands, we are quite literally subverting our democracy to the whims of authoritarian capitalism, flown under the banner of kleptocratic socialism. Those of us who hope Congress says "hell no" aren't rejoicing at our economic turmoil - we're the ones who have been predicting it, and who think the way to prevent things from getting worse are to actually do something other than giving money to the same people that got us to this awful point.

and Top 5 Reasons

outerspace · 1 year ago

First of all, the GOP admitted that they never had enough votes to pass the bailout.
Second of all, a conference call with bankers was leaked where the fed explained to them how all the concessions democrats put in the bill are actually meaningless.
You should be happy this theft didnt pass.

jeffg166 · 1 year ago

What's the point of propping up the rotting corpse of Reaganomics? We'd be adding zombie economics to zombie debt. As painful as it's going to be a collapse and a new start is really the only truly sensible thing to do.

FDR had to save capitalism from itself in the 30's. This is going to be Obama's problem to deal with. At least he's pragmatic enough to use and do what has to be done.

Indigo · 1 year ago

That sounds about right. The high-handed authoritarian tools Paulson was asking for were out of the question. Either Paulson knew that and sabatoged the whole project before it was fully worked out or he's a Tory and a fool.

Reason0Politics1 · 1 year ago

Many of us were warning this was coming 2-3 years ago. we were laughed at. now its come to pass and ignorant fools are MAD at us for being against this pile of shit?

They want more of our money. they know we dont want to give it up. so they create a disaster and offer their solution. and we're supposed to believe it? are you NUTZ Chris? Seriously... are you nutz?

Anything short of firing the whole gang of thugs... means we are actually PAYING FOR OUR OWN ENSLAVEMENT! How reactionary

reflux1000 · 1 year ago

Andrea Michael on Morning Joe just said Newt Grinrich was working to killed the bill up to the last moment so he could run for president in '12,so it had nothing to do with Nancy and hurt feelings they was looking for anything to blame.

hawkseye · 1 year ago

At least we were spared a blubbering performance by crybaby Boehner. Maybe he will do that today.

dances_with_beagles · 1 year ago

Look, you're going to lose a trillion and more even if the bill had passed and even if a modified one passes soon. The dollar number in your 401K is just that...a number. What it buys when you need it is the true value. There isn't $700,000,000,000 laying in a vault somewhere. The money will be printed. They have already been printing hundreds of billions and shoveling it to the banks for the last year just to give the appearance of solvency. That's why the dollar is losing value and gas is $4 a gallon. What do you think you're 401K money is going to be worth by the time you need it? I know most reading this post didn't vote for the nightmare we've had the last eight years, but nevertheless, this generation collectively should pay the price for the decisions it made and not steal from our childrens' children. Got a radical idea, stole it from my granddad...how about we not base our entire existence on living on credit?

Hawk · 1 year ago

Well, it's a nice long paragraph starting with the obligitory "The problem is understandable because who really likes the idea of their hard earned cash (and future) going to prop up the mistakes of Wall Street who rubbed our collective noses in their high flying lifestyle?...
But the truth is, the American people are sick of being held up at Gunpoint over random weekends and having to give the farm away again for failure and incompetence every turn you look! It's just a fact that the pocketbokk of the Middle Class, the real one, not your 250K Middle Class! The ones who aren't {invested} in this BS with either money or belief consider this highway robbery flat out. They're not stupid either, this Bandaid is BS and won't do a thing to help the "Fundemental Economy pilars", nothing but make Wall Street feel good and real money investors like Warren Buffet better off.
We need to hear the words investment in infrastructure, job creations, clean energy initiatives and on and on.
Otherwise, you back in two months holding us up again, ENOUGH!