Bailout voted down in House

[maccards44]

IDK guys we did that once - it was called the great depression and from what I hear it wasn't so great...

I can't believe I'm saying this but I hope they come up with some kind of bailout plan.

What DOES piss me off is the fact that one of the sticking points in this whole thing was how much compensation the executives should get. I mean, how about NONE!
If you have run your company so terribly that we need to have a government bailout why should you get anything?

Answer - because you have the people making the "rules", (lawmakers) in your back pocket. And I'm talking about democrats AND republicans here, they are equal opportunity thieves. If I have to pay higher taxes for the bailout & NOT loose my house/job/car well I guess it's worth it, but it still sucks.

PS - Today's vote was surreal. Watching the Dow plummet BY THE SECOND as the votes were being counted - surreal.

[TechMan]

I say if its gonna happen bring it on now rather than bail them out then a couple years be forced with the same thing. Lets sink this ship and start over. Far as i can tell the stock market is a bunch of Crock anyway, up and down, North korea fires a missle into the sea uppp goes the stock. Hurican MIGHT hit UP GOES THE STOCK. what a joke. a bunch of uptight idiots if you ask me/

[JayJagFan]

I'm so glad this didn't go through. What happened to the good old conservative "pull yourself up by your bootstraps" ideology? There are no exceptions. Let them fend for themselves. We'll naturally come out of this slump eventually.

[TechMan]

Why not use the money to bail us out of whatever mess we have got ourselves in, Why bail out people that have money, anyway.

[daniel3417]

I say if its gonna happen bring it on now rather than bail them out then a couple years be forced with the same thing. Lets sink this ship and start over. Far as i can tell the stock market is a bunch of Crock anyway, up and down, North korea fires a missle into the sea uppp goes the stock. Hurican MIGHT hit UP GOES THE STOCK. what a joke. a bunch of uptight idiots if you ask me/

Very true. From day-to-day, the stock market is very volatile and illogical. Ben Graham, Warren's Buffett's mentor, created the analogy of this using a salesman named Mr. Market.

But in the long run, the market does get it right. Think about it, in the short run two years ago, companies like Bear Sterns and Washington Mutual were seeing their stock prices go up, up, up. But now that things have slowly started becoming more and more obvious that they were making money in very risky fashions, the market as corrected itself and I would expect/hope things to begin a small rebound by year's end.

[BBcardsRI]

Here is what a real politician has to say about the "bail-out":

http://www.dailynewscaster.com/2008/...-the-republic/

~Dave

[streicher187]

When the effects are being felt and millions are out of a job then see how many people are for this. It will put an end to the auto and home industries as NO ONE will be able to get a loan and will cripple the local banks because the big ones will stop lending them money.

When Mcdonalds gets denied a loan what chance do the little people have. It's not just our economy we are going to take down but all the economies around the world who have a stake in the US. The politicians sold it as a bail out for banks and that is their fault, if they would have went on to explain the effect it will have on the whole economy and jobs losses as well as business closings more people would have got behind it.

They will have to pump billions into the economy now to keep the market from crashing and the next bill that comes up will be a LOT more expensive..

As far as the Pelosi(sp) speech I don't see anything wrong with what she said. Clinton left office with a HUGE surplus and it got pixxed away and even BIGGER debt got run up. It is sad if the fact that 12 people changed their mind over that speech putting their feelings ahead of the country..

IF Obama or Mccain came out and told their party to all vote for it and they would take the blame even if it meant losing the election they would have my support. The sad part of the trickle down economics is the money doesn't trickle down but the pain sure as hell does..

PS the auto industries already got 25 billion dollars this week to keep them going, it was in the bill that allowed offshore oil drilling..

[ensbergcollector]

As far as the Pelosi(sp) speech I don't see anything wrong with what she said. Clinton left office with a HUGE surplus and it got pixxed away and even BIGGER debt got run up. It is sad if the fact that 12 people changed their mind over that speech putting their feelings ahead of the country..

i was out of pocket for most of the day so I didn't get to see what Pelosi said, but I did hear the responses afterward. Even John Kerry said she was out of line and that if a republican had done that he would have been just as upset.

[mikesilvia]

This bailout was a BAD idea. There are better ways to help the economy. Helping failed institutions and having the government own these companies is silly. Glad to see a majority of Republicans and 95 Democrats go against this. Just shows you how bad Nancy Pelosi is. She is a failed leader. Bush also failed on this.

[arkaneinc]

Right after this bill was denied the stock dropped 777.68 points. The largest single day drop in history.

I don't really care if we go into a depression. I feel that a Bailout would just weaken the dollar that much more, it's a catch 22 but the cleansing process has started. My thing is why should the people pay for this. I didn't tell them to write these loans. I didn't tell these people to buy a house that they couldn't afford. No 1 seemed 2 care about 0% down till they saw what was on the backend.

All I hear is Obama and Mccain talking bout a failed system, More accountability and whatnot. It all sounds so wonderful on paper but Let's see.

I'm already stocked up on money,supplies and ammunition just in case. Because I feel this system has failed and it's time to start over