Bailout plan voted down in Congress!!!!! Thank God stand strong

[topgame85]

Very exciting maybe a bit of common sense left, keep shooting this garbage down

[Illusion]

Wall Street isn't happy. The DOW is down over 500 points.

[durito]

Very exciting maybe a bit of common sense left, keep shooting this garbage down

[teaserpleaser]

This is a good thing to be honest im shocked it was shot down.

[topgame85]

A very good thing voters made enough noise to let them know they won't get our votes if they support this bill, I really thought no shot of this happening but I am very pleased

[Brock Landers]

how is it a good thing it got shot down?! you fvckin moron

The alternative is very possibly a depression

fvckin dumbass

[SlickFazzer]

Its a tough situation. Whether you believe in the bailout plan or not...it needs to be done...this is a once i a century type debacle. Continued seizing up of banks and credit is not good for anyone. The dow is down 550 as i write this - not good.

[fiveteamer]

lol @ Nasdaq

PWNED

[durito]

not surprising that a board full of degenerate gamblers is full of people without any savings

[fiveteamer]

what does my savings have to do with this?

[topgame85]

Feel free to write them a check Brock and supporters of this plan, as for my tax dollars and obviously as for the majority of taxpayers this is a big no thank you

[durito]

what does my savings have to do with this?

everything, unless you keep it under your mattress.

[durito]

Feel free to write them a check Brock and supporters of this plan, as for my tax dollars and obviously as for the majority of taxpayers this is a big no thank you

i'm sure the 23 cents of taxes you pay per year will be missed

[fiveteamer]

my savings are in savings account, not at e-trade.

I think I'll be ok.

[element1286]

This was a damned if you do, damned if you don't situation. In the end this was probably the best decision.

[Tsoprano]

Just read it on aol.

[smitch124]

Makes me wanna dig up the coffee can in the back yard and make sure all is well...

[topgame85]

i'm sure the 23 cents of taxes you pay per year will be missed

Thats not the point Durito, thats not the point at all, the government gets enough money as it is from US Citizens who overwhelmingly disapprove of how it is spent, unpopular wars, stupid unneccesary public works projects, relief toforeign countries and if Americans as a whole disapprove it should be voted down and that is what happened today, we are starting to see politicians afraid to go against the people because of the state of the country today and that is a very strong symbol

[FreeFall]

how is it a good thing it got shot down?! you fvckin moron

The alternative is very possibly a depression

fvckin dumbass

take econ 101 and you will learn why thats a good thing.

everything, unless you keep it under your mattress.

it still matters even if it's under your mattress

[BuddyBear]

Thats not the point Durito, thats not the point at all, the government gets enough money as it is from US Citizens

Sure, but the U.S. is the second least taxed country in the world.

who overwhelmingly disapprove of how it is spent, unpopular wars, stupid unneccesary public works projects, relief toforeign countries and if Americans as a whole disapprove it should be voted down and that is what happened today

Americans have always been giddy about war. Where was all that civic energy before the unnecessary and illegal war in Iraq started? American were more than excited to go to war and so were all the corporations.

we are starting to see politicians afraid to go against the people because of the state of the country today and that is a very strong symbol

Not really. The fact that McCain is still even remotely competitive with Obama shows that the thinking of the American people is not shifting all that much. If Americans were truly concerned about putting pressure on their elected represntative they would be shifting over to the left much more. For example, on taxes...who is better for the American people? Why would not they be supporting the candidate that will give them best tax break/relief? Where all the protests demanding the illegal war in Iraq end? Where are all the rallies for health insurance, etc.... Nothing is changing bro.....

[teaserpleaser]

Hey Brock Landers **** you buddy its my opinion you can take it and shove it up your ass. A bailout would FORCE responsible consumers to pay for the consumers who were not, The CEOs and bankers that made a killing from giving loans to damn near anybody will continue to do it if they are bailed out whats to stop them??. What kind of message does this send to responsible Americans who work hard and dont buy things they cant afford? I think your the moron pal

[Tchocky]

The GOP is just caving into public sentiment. This bill is necessary to stop the global economy from sinking any further. The House Republicans are responsible for killing this bill. They don't want the Democrats to get the credit for any upside this bill brings. I'm surprised that the Dow isn't down any further but I expect the Dow to plunge below 10k before the end of the week. The average American doesn't understand the ramifications if this bill fails. They just see it as a bailout for Wall Street fat cats. The GOP is willing to risk this economy getting worse to win an election.

[topgame85]

The GOP will not win the election Mccain supports the bailout anyways, house republicans may be re-elected because they voted how their CONSTITUENTS WANTED which is how they are supposed to vote EVERYDAY!

[Seattle Slew]

Not sure on the bailout, but the GOP isn't winning anything in the fall, including the White House.

[Fishhead]

Your money is safe at ETRADE SAVINGS up to 100,000 bucks.........FDIC.

NO WORRIES

[Ganchrow]

Blogged at FiveThirtyEight.com:

Swing District Congressmen Doomed Bailout

This was predictable, I suppose, but it's remarkable to see how strong a relationship there is between today's failed vote on the bailout and the competitive nature of different House races.

Among 38 incumbent congressmen in races rated as "toss-up" or "lean" by Swing State Project, just 8 voted for the bailout as opposed to 30 against: a batting average of .211.

By comparison, the vote among congressmen who don't have as much to worry about was essentially even: 197 for, 198 against.

Voting Breakdown

[marke4]

not surprising that a board full of degenerate gamblers is full of people without any savings

well said

[marke4]

my savings are in savings account, not at e-trade.

I think I'll be ok.

Typical idiot statement. I'm sure your savings will be fine receiving maybe 1.5% interest when inflation will raise to 7% this year.

[fiveteamer]

Typical idiot statement. I'm sure your savings will be fine receiving maybe 1.5% interest when inflation will raise to 7% this year.

When will Bank of Canada cut interest rates to 1.5?

Thanks Chief.

[marke4]

Hey Brock Landers **** you buddy its my opinion you can take it and shove it up your ass. A bailout would FORCE responsible consumers to pay for the consumers who were not, The CEOs and bankers that made a killing from giving loans to damn near anybody will continue to do it if they are bailed out whats to stop them??. What kind of message does this send to responsible Americans who work hard and dont buy things they cant afford? I think your the moron pal

Those responsible hard working Americans for the most part are the ones who join the rat race and work pay check to pay check for the most part. Its the ones who take the extra step to start businesses who provide the "responsible Americans" with jobs that needed this bill to pass. Let's see how everyone feels once unemployment goes up and these hard working people don't have anyone to work hard for.

[marke4]

The GOP is just caving into public sentiment. This bill is necessary to stop the global economy from sinking any further. The House Republicans are responsible for killing this bill. They don't want the Democrats to get the credit for any upside this bill brings. I'm surprised that the Dow isn't down any further but I expect the Dow to plunge below 10k before the end of the week. The average American doesn't understand the ramifications if this bill fails. They just see it as a bailout for Wall Street fat cats. The GOP is willing to risk this economy getting worse to win an election.

I like a lot of what is said here. But I put the folly on the Democrats for not passing the bill. The Republicans got almost 45% to vote to pass it, after they altered the original bill more in their favor. It was the Dems who didn't carry their party.

[ritehook]

Typical idiot statement. I'm sure your savings will be fine receiving maybe 1.5% interest when inflation will raise to 7% this year.

Exactly correct.

The "bailout" would have been paid by taxpayers in the form of inflation. Which, btw, is higher right now than 7%, don't belive the bs govt figures.

Probably more like 10% and with a bail like this could jump to 20%. Or more. Check Germany in the early 1920s, when the German middle class was wiped out.

We did not get an equity position in these companies when they were rolling in subprime profits. Whey should we buy into them now that their losing?

With the Street, it's "PRIVATIZE THE GAINS, SOCIALIZE THE LOSSES."

[marke4]

When will Bank of Canada cut interest rates to 1.5?

Thanks Chief.

Well, considering the European central banks panicked today before the vote of no and slashed rates, and I'm sure the asian markets will do the same. Its only a matter of time before Canada follow, although last time I checked the rate of 3.25% would be a steal. What is Canada's default rating?? There is a reason why billions are being pulled out of the market and put into U.S. T-bill's at 1.3% today or even lower.

Bottom line Bank of Canada is considered low investment grade not high like the U.S. Totally different circumstances. You might as well put your money in an Central American bank and get 9%. Chief

[Tchocky]

The GOP will not win the election Mccain supports the bailout anyways, house republicans may be re-elected because they voted how their CONSTITUENTS WANTED which is how they are supposed to vote EVERYDAY!

Someone has to show leadership and do what's best for the country not just satiate an angry mob. This economy will get much worse if this rescue plan is approved. Most of the Democrats and Republicans who voted "nay" are up for re-election.

[fiveteamer]

Well, considering the European central banks panicked today before the vote of no and slashed rates, and I'm sure the asian markets will do the same. Its only a matter of time before Canada follow, although last time I checked the rate of 3.25% would be a steal. What is Canada's default rating?? There is a reason why billions are being pulled out of the market and put into U.S. T-bill's at 1.3% today or even lower.

Bottom line Bank of Canada is considered low investment grade not high like the U.S. Totally different circumstances. You might as well put your money in an Central American bank and get 9%. Chief

I think it is at 3.05.

Thanks for all your help, Ace.