not such a strange vote after pelosi’s ‘tirade’.. some of the babble I hear on the mediaphere is the bill failed as nancy went partisan and hardened quite a few on both sides to reject it, not sure how close it might have passed by otherwise but..
I don’t have much sympathy for all those who created this mess .. it won’t be the end of everyone’s careers regardless if they get 86’d at some point, they’ll all just recycle into lobbyists anyway..
I think some of their cohorts who benefited most from the raping of the public trough should end up milking goats or something for a few years
The bailout would cost 700 Billion. Today Americans lost 1.1 Trillion in value.With more to come. And don’t for a moment think Pelosi and the dems are going to get the blame in the media or at the polls. It may not be an exagerration to say this day was a catastophe for the free market, the GOP, and America. Pelosi, Reid and Obama are going to make Lyndon Johnson look like Barry Goldwater.
Do not let Nancy-pants and her band of ecoterrorists get away with that crap. Her caucus is big enough to get that bill passed without Republicans aiding and abetting more government theft. Why do Republicans get the blame while 94 Democrats get cover for voting Nay?
Losses need to be reflected in share prices. I would not mind seeing the DOW drop another 400 - 500 points.
We cannot pass this cost (bad mortgages) along to our kids. By passing the Bailout bill, we are kicking the can down the road, to future generations.
There’s no 700 billion in “surplus” to use, it would have to be borrowed, and kids coming up will pay this back.
That is like ‘taxation without representation.’
Share values should fall to reflect losses (rather than profitable companies), as should/will property values a bit.
Our cohort, our age group, voted in the CRA, no ‘redlining,’ etc. etc. Whether we voted for it, or not - it was our generation/age group’s decision to subsidize bad loans.
We should take a hit to our retirements, not pass it on to future generations.
(Or, we should try and target those who were responsible — if lawyers can identify the exact interest groups at work, lobbying for these wealth transfers...)
And — I AM an economist.
LET IT DROP, to REFLECT THE LOSSES. DON’T PASS IT ON - TO THE FUTURE TAXPAYERS.