Washington to Wall Street: Drop Dead

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  • Posted By: Character Counts @ 09/29/2008 10:42:51 PM

    Stellarslayer, don???t call me when you???re out of work and your family can???t afford to pay for groceries anymore.

    • Posted By: stellarslayer @ 09/29/2008 11:04:24 PM

      Yep,they got you panicing. The Chicken Little symdrom gotch yagood. Well, I fell they need to come to a conclusion as soon as possible and God knows if it was Christmas I would say "keep working on it for chriminey sake". The heck with any religious holidays right now. By the way...sounds like for all you claim that Republicans are just looking out for themselves well, it sounds like you are just looking out for yourself with evry comment you make. Get a grip of yourself. I have a 401k and have lost some, but it will come in the long run. Think if I had an IRA I would have taken the penalty for withdrawl and saved somein the longrun. I live in a hurricane zone and have food to last quit a long time. I was also raised by a Mother and Grandparents who survived the depression. Previous ancestors of mine came to this "New World" and pioneered to the midwest. My Father raised himself since the age of 14 after both his parents dies. Oh yeah, I was raised in tornado alley and I also remember a time when I participated in nuclear attack drills in school. It was impressed upon me to have a stock pile of food that dosen't require a stove or microwave just in case. I think I am ready to survive anything this world has to throw at me. God will take care of the rest.

      • Posted By: Character Counts @ 09/29/2008 11:43:09 PM

        Well, stellarslayer if you insist on reliving the ???Grapes of Wrath??? there isn???t much that I or anyone else can do for you. But, you???ll excuse me if I chose not to join you in your epic adventure.

        • Posted By: stellarslayer @ 09/30/2008 7:29:53 AM

          Get a grip Chara. The sky wil;l not fall. Have you spent the time to actually read the 110 page bill that failed? Do you watch a TV station that actually televises Congressional hearings and statements as they acually happened/read Congressional statements as they were written? Or areyou taking the alternative to let journalists "tell" you what they want you to know with talking heads from Congress on their shows flapping their lips playing Politics 101?

          By the way...I gotagood night sleep and I'll be darned. The stock markets are opening up again today. WOW. This is a great country.

  • Posted By: RDuteau @ 09/30/2008 7:11:29 AM

    Stop blaming politicians, they are an ignorant bunch. You can put all the rules and regulations in place you want and in the end the politicians are just as good as Wall Street at getting around anything. People are whinning mostly about what has affected their "paper" value (interest, dividens etc.). Credit tighteneing will be tough for a lot of folks, those who want things and those who would love to sell it to them. No bailout!

  • Posted By: joe_mama @ 09/30/2008 7:06:47 AM

    Teri is right on point, only it's not just retirement savings that are at risk.

    How many of you know if your job pays you from it's cash reserve or if it borrows money to cover payroll? A lot of companies do payroll on credit these days--credit is more expensive, which means your employer just absorbed a cost increase. Where will they make it up? Higher prices or layoffs?

    What about the inventory your company sells? A lot of that is purchased on credit these days, which, again, is an unexpected cost increase.

    Contractors and those who service homeowners already know this: no credit means no HELOC (Home Equity Line of Credit)...no HELOC means no new bathroom (or kitchen)....no new bathroom (or kitchen) means no contractors get hired.....no contractors getting hired means no work....no work means cutting back....cutting back means all those small businesses (restaurants, movie theatres, etc.) lose revenues....lost revenues cutting costs or borrowing to make up the difference....and since credit is so tight....

    This affects EVERYBODY. Get used to it and pull your heads out of the sand.....it's potentially the worst financial crisis EVER...even worse than the Great Depression.

    Thank you Mr. Bush...now get the h*ll out!

    JM

  • Posted By: quasqueton @ 09/30/2008 4:58:39 AM

    To All of you "progressives" out there. Social "engineering and greed". Everyone has to own a house, whether or not they can afford it. Obviousy, many cannot. Subprime - of course you can buy this house. Greed - oh you have to make a balloon payment now, or tough shitzky. That was the plan for Fannie & Freddie - everybody owns a house, even if one has no means to pay for it. Doesn't matter, the CEO's will make a gazillion dollars, and the government will take care of it, if it doesn't work out. Same with all the other "big boys". We are so BIG you can't let us fail. That is such an old story. Well, fail! I owe $2800.00 in back taxes from 2003. which I cannot pay at the present time.
    I want to pay them, but I just cannot. Hey, send me $2800.00 and I will glady support $700 billion for you !bailout of the fat cats on Wall Street & D.C.

  • Posted By: Perusing-through @ 09/30/2008 12:54:03 AM

    .
    IT IS JOHN McSAME and the HOUSE REPUBLICANS FAULT . . .

    [1.] - While the global market burns; House Republicans fiddle.
    [2.] - While Wall Street crashes and Asian markets follow; House Republicans play poker.
    [3.] - While Main Street lay tied down on tracks as train barrels down hill towards them; House Republicans play musical chairs.
    [4.] - While the nation disintegrates; John McRisky looks for camera to stand in front of so he can blame anybody just to get his poll numbers up.

    WILL SOMEBODY COME AND GET "JOHN McGAMBLER" OUT OF HERE.
    ROMNEY, HUCKABEE, PAWLENTY, WHERE ARE YOU, , , PLEASE!!

    GOD HELP US!!

    • Posted By: quasqueton @ 09/30/2008 4:32:07 AM

      Cool! My name is John Risk - I like John McRisky. Regardless your talking point are McGarbage.

    • Posted By: quasqueton @ 09/30/2008 4:25:30 AM

      Well, if you want to have fun with names - Obama-bin-Laden. Oops, it's Osama bin-Ladin. Isn't this fun?

    • Posted By: responsibleseattlenative @ 09/30/2008 2:25:24 AM

      Read the blogs, Nimrod. The Republican supporters of McCain and the American economy offer solutions. The libral Democrats just offer crass, untrue comments.

  • Posted By: sumostorm @ 09/30/2008 12:59:05 AM

    I can't believe McCain is trying to blame Obama for lack of leadership in the house over this vote. Did he not get the news? Republicans defeated this measure, not the democrats. Where was his leadership that his trusty sidekick Palin spoke so highly of?

    I thought the entire world was waiting to see what McCain was going to do? If they did, then they did the exact opposite. Good on them for sticking by their values though -- since when do republicans support government getting involved in the business of private business and the free market?

    Read some great commentaries on the election and current issues at http://www.tengallonbrain.com

    • Posted By: quasqueton @ 09/30/2008 4:22:06 AM

      Did you not get the news? The House of Represtentatives in a clearly majority Democratics! Why not blame someone else, for a change, change, change!

  • Posted By: quasqueton @ 09/30/2008 4:02:41 AM

    Interesting comment, sexkat! Do you have empirical truth with your statement. I realize this publication is "Vote for Obama - McCain is terrible - nothing new. I would hope in the future, that you would research the facts.
    How clever - McCain is toast, old, stale toast. You should be very ashamed, young lady. Very, very ashamed for saying that.

  • Posted By: Saxkat @ 09/30/2008 3:34:03 AM

    Most Republicans would vote their own Mothers out of office if they thought it would cost them money. Watch as they desert the sinking ship, and vote for Obama. Even the Democrats won't be able to snatch defeat from the jaws of victory this time. McCain is toast. Make that very old, stale toast.

  • Posted By: bdhotwheel @ 09/30/2008 3:03:53 AM

    The Amero is coming folks. This is all being set up through NAFTA and the North American countries. It is real and it is the alternative to the Dollar, Peso, and the Canadian dollar. Wake up, this is not coincidence that the economy is doing what it is doing. It is all part of prophecy folks. http://www.youtube.com/watch?v=6hiPrsc9g98

  • Posted By: bdhotwheel @ 09/30/2008 3:02:07 AM

    The Amero is coming to North America. The dollar will no longer be the currency of choice. Mark my words, NAFTA and the North American Countries have been working on this. They will make it happen. The dollar is crumbling and the US needs to go back to gold! http://www.youtube.com/watch?v=6hiPrsc9g98

  • Posted By: 1easylay @ 09/30/2008 2:17:16 AM

    Sad fact is this whole mess was brought about by repubs, especially McPain, fighting vehemently for removal of reguations with regards to the market.

    Worked well, huh? And McPain wants to "deregulate" Soc Sec and health insurance, too. Let's guess where that'll lead..................to a bailout of health insurance companies and Soc Sec Adm.

    Thank your lucky stars the Dems and select repubs were smart enough to not fall for the bailout cr_p as it was proposed.

    Something needs ot be done, but giving more $$ to the bank robbers is not the answer.

    Our Senate and Congress listened to us and now you're giving them sh_t for it.

  • Posted By: Massadabata @ 09/30/2008 2:04:35 AM

    Gotta love un-biased reporting. The dems have a majority in the house, yet the reptillians killed the bill. On a different point, I bet it's almost no fun being a millionaire banker these days. You can't even suck some extra money from the taxpayers anymore?!? "Jeeves, fetch me my silk kerchief, I think I need a little cry... why the mean old congress won't send me more money... I may have to sell one of my yachts!"

  • Posted By: getzel @ 09/30/2008 1:49:34 AM

    A better plan to fix liquidity for less than $700 Billion : 1)Moratorium all mortgage payments on all residential real estate for 5 years or until the houses are sold. This is cheaper and guaranteed to jump start the economy. 2) raise the FDIC insurance to $1 million on bank accounts; this will get money out of treasuries and into bank deposits: liquidity. 3) Means test all new home loans on 29% and 33% debt ratios and minimum down payments from 10% to 33% depending on the home cost. 4) Home equity loans should be for home improvements only.
    5) Credit cards should be on net 30 basis only; if you can not afford it do not buy it. 6) special finance arrangements should be available for longer term purchases like cars, but not toasters and certainly not soap.

  • Posted By: getzel @ 09/30/2008 1:05:24 AM

    A better plan to fix liquidity for less than $700 Billion : 1)Moratorium all mortgage payments on all residential real estate for 5 years or until the houses are sold. This is cheaper and guaranteed to jump start the economy. 2) raise the FDIC insurance to $1 million on bank accounts; this will get money out of treasuries and into bank deposits: liquidity. 3) Means test all new home loans on 29% and 33% debt ratios and minimum down payments from 10% to 33% depending on the home cost. 4) Home equity loans should be for home improvements only.
    5) Credit cards should be on net 30 basis only; if you can not afford it do not buy it. 6) special finance arrangements should be available for longer term purchases like cars, but not toasters and certainly not soap.

  • Posted By: bob_hall27 @ 09/30/2008 12:12:29 AM

    well one good thing from no bailout so far is oil and gas is going down see lack of bailout is already helping the economy they are expecting gas prices to go below $3.00 a gallon

  • Posted By: tony_e @ 09/29/2008 11:57:14 PM

    What? The GOP? How about the Dems and Pelosi. Jeez, your premise is simply ridiculous.

    • Posted By: bob_hall27 @ 09/30/2008 12:04:07 AM

      and what about nazi palozi she's the biggest socialist of all next to obama

    • Posted By: bob_hall27 @ 09/30/2008 12:00:38 AM

      it was a joke lighten up

  • Posted By: bob_hall27 @ 09/29/2008 11:54:06 PM

    I vote republican ( in the case of president this year third party)because we can't all be on welfare

  • Posted By: timrogers @ 09/29/2008 11:32:52 PM

    The free spending Republicans who have borrowed and spent more than any Congress in history suddenly want to stop borrowing and spending to save the taxpayers. I hope the people with 401's, IRA's, pensions and other retirement accounts which are vanishing before their eyes appreciate the irony because that is about all that will be left for many of them. With perfect timing, the Republican party has decided to channel the Hoover administration and we all know how great that worked out. As a small time investor in stocks, I want to thank the Republican members of Congress for teaching me this valuable civics lesson. I know that showing Wall Street who is boss is a far more important to America than a little economic collapse. I can't wait for the next election to show my appreciation.

  • Posted By: bristgus @ 09/29/2008 10:52:27 PM

    The majority of America hates this bailout plan. It sounds like *GASP* some representatives actually represented thier state citizens. AND NOW THEY'RE GETTING BASHED FOR IT??? This is not a dictatorship, if the people don't want it, it shouldn't be going through!

    • Posted By: Character Counts @ 09/29/2008 11:08:22 PM

      So, let us assume that the majority hates the plan. Democracy isn???t perfect either. Should we now get rid of it? I and many other Americans expect leadership from our representatives in Washington. We do not expect our representatives to check which way the wind blows when the country is in a major financial or other crisis. We really do expect them to put ???country first.??? The Republicans who talk like that, but don???t walk like that will have to pay the price on election day. Just because some people are willing to drown does not mean that all are ready to drown with them. As Lincoln said, ???you can fool some people dome of the time, but you can not fool all of the people all of the time.???

      • Posted By: bob_hall27 @ 09/29/2008 11:14:46 PM

        country first is to rule by the law set forth in the constitution and no where in the constitution does it give congress the authority to manipulate the private sector finances to eleviate the pain of a gamble

        • Posted By: Character Counts @ 09/29/2008 11:23:12 PM

          Sorry, but that thinking would lead us to an economic crash I don???t want to experience. Strict constructionism isn???t the answer we need to solve the complex economic crisis we face in the modern world.

          • Posted By: bob_hall27 @ 09/29/2008 11:32:31 PM

            If we didn't stray from the constitution in the first place we wouldn't be in the jam we are in this whole problem was created through the marxist entity known as a central bank AKA the federal reserve get rid of the federal reserve and go back to a solid money where congress is supposed to coin our money not pawn it off to a private sector entity our problems would solve themselves. Or if you want to tax corporations according to their profits maybe we should tax the federal reserve they have made more profits than any 10 of our largest corporations. After all they are a private entity they should be responsible for taxes also.

  • Posted By: rs98101 @ 09/29/2008 11:23:05 PM

    "Well, maybe we don't need much of a private-sector financial system after all. " I disagree with this statement. As I argue here:
    http://www.somedork.com/daily-ramblings/the-700-billion-dollar-bailout/
    The $700 Billion Bailout
    This bailout effectively kills outr free market system.
    http://www.somedork.com/daily-ramblings/the-700-billion-dollar-bailout/


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