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Thread: Bailout bill about to fail, Republicans killing it. Market crashing.

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    Elite Member Grimmlok's Avatar
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    Thumbs down Bailout bill about to fail, Republicans killing it. Market crashing.

    The vote is taking place in the House right now, it looks like it's going to lose, and the market is falling through the floor. Down 700 - well, actually now it's fluctuating between 400 and 600 down. Jesus Christ. Per MSNBC, Democrats promised they could deliver half of their caucus, but the Republicans needed to do the same. The Dems have over-delivered - they have more than half of their caucus voting for the bailout. The Republicans, however, are voting en masse against the bill.

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    Don't know why Repubs don't like it-it does just the thing they love to do-rob the taxpayers.

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    The Republicans are afraid if they vote for the bill they will be voted out. I guess that says who they are thinking about as usual(themselves). Why didn't they vote against the Iraq War which is costing a fortune. I don't know what to think. If they do nothing more banks can fail,they say. The stock market is plummeting because they think the bailout is going to fail. What a mess.

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    Elite Member nwgirl's Avatar
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    Quote Originally Posted by Sasha View Post
    Don't know why Repubs don't like it-it does just the thing they love to do-rob the taxpayers.
    Ya'd think, huh? I guess maybe there's still something in there that will benefit the small people. You know how they hate that.
    "The difference between genius and stupidity is that genius has its limits."

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    Gold Member mamaste's Avatar
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    Quote Originally Posted by candy27 View Post
    The Republicans are afraid if they vote for the bill they will be voted out.
    Exactly.

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    They just voted...NOT PASSED!

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    Elite Member kingcap72's Avatar
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    Well, the bill officially failed and Republicans are to blame, even as the stock market is plummeting. The only reason why Republicans hate this bill is because it doesn't allow their CEO friends to walk away with huge profits and it calls for more oversight and regulation to prevent this from happening again.

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    I'm putting it out there right now: we better start growing gardens and making our own clothes like our grandparents did, because if you think money is tight now--ooh, boy. It's gonna get ugly out here.

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    Elite Member louiswinthorpe111's Avatar
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    McCain can count this election bye-bye!

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    Elite Member MontanaMama's Avatar
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    If you truly believe in free market - which is the fundamental core of the current conservative thought - then they could not vote for this plan. This vote is the closing statement /confidence vote on the Bush presidency. His own party took him out in the end. I'm thrilled this failed, for now. They'll tweak it and it will pass later today or on Wednesday.

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    Elite Member louiswinthorpe111's Avatar
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    ^^ I don't disagree with you.

    However, the crisis is that lending is coming to a halt. If no one lends money, then the world economy stops. This is why some sort of a bailout or program is required.

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    Elite Member LynnieD's Avatar
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    I'm gonna go hide in a hole for the next 5-6 yrs. Let me know how it turns out!

    Fucking scary...it truly is.

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    Elite Member ana-mish-ana's Avatar
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    Oh joy

    But I think this bailout would have just held off the inevitable, but I think tomorrow is gonna be interesting.

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    Banks will keep lending for heaven's sake. But thanks to the Republican policies over the last 8 years, they started lending to any loser who could sign his name on a mortgage document. There used to be standards where you actually had to have a down payment and good credit and little things like that. They need to bring that back. Yes, a lot of people will not be able to afford homes. A lot of people will have to scale back their McMansions. Boo hoo.
    As a person who scraped together a downpayment of 5% and had the common sense to get a 5.5% fixed rate mortgage, and to buy a house that we could actually afford and still be able to eat and go on vacations and stuff, I have little sympathy for those who overextended themselves.

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    Elite Member kingcap72's Avatar
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    Quote Originally Posted by louiswinthorpe111 View Post
    ^^ I don't disagree with you.

    However, the crisis is that lending is coming to a halt. If no one lends money, then the world economy stops. This is why some sort of a bailout or program is required.
    Plus, with companies not being able to get money to cover their operating costs, eventually they won't be able to cover payroll, so people won't be getting paid.

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