Bush signs economic bailout bill

AFP via Google News ^ | 2008-10-03

[rabscuttle385]

WASHINGTON (AFP) — US President George W. Bush on Friday signed a mammoth economic rescue package aimed at saving troubled US banks and easing a credit crunch that he warned could spell disaster for the US public.

After campaigning for the bailout for two weeks and courting reluctant lawmakers in person and by telephone, Bush signed the Emergency Economic Stabilization Act of 2008 before leaving Washington for the weekend.

[LiberalsSpendYourMoney]

Oooh, good job with the acronym Big big boy!

[NormsRevenge]

“Financial stability in our time.” (/chamberlain)

[Hurricane Bruiser]

http://www.flickr.com/photos/30581266@N06/2902781625/sizes/o/in/photostream/

Here’s a great picture of today but I’m not sure how to post the picture in-line

[Harrius Magnus]

Your kids will tell you all about it after they get home from our patriotic schools.

More likely they will stay quiet and report their parents to the government contacts given to them by their teachers. 

[Centurion2000]

I think the most patriotic thing we can do right now is cancel our credit cards.

Actually this would be an interesting time to max em out. Get ready for some serious inflation.

[Darth Sidious]

Some of us were warning about this a long time ago. That Bush was going to be a disaster for America.

Some of us were even banned from this forum for articulating as much.

Today, I do not return to gloat. There is no gloating possible regarding this, the biggest FUBAR of legislation that has happened in living memory, at the behest of George W. Bush.

I can only pray that maybe... maybe... if not our own generation then the one that might yet follow after us, might at last learn from such folly.

[Sunnyflorida]

This is all a bad dream. I wake up tomorrow and Bush signs McCain’s Tax Slashing Growth Bill

- cap gains taxes ZERO
- treatment period reduced to four months
- corporate tax rate indexed to the lowest of the top 50 industrialized nations
- $10 million investment tax credit through 4/15/09
- SarBox repealed.
- Reg FD penalties; first offense 5 years, second offense 10 years, third offense life
- repeal of options “expensing”

[Sunnyflorida]

Bill past at 10,730 on the DOW

[marshmallow]

Hank Paulson’s in charge now. The Treasury Secretary has almost unlimited powers over the nation’s economy now.

Actually, I don't think anyone is in charge, now. The train is rolling downhill and neither Paulson, Bernanke nor Bush nor Congress (which is clueless) can stop it.

The next time it stops will be at a station called "collapse of US government finances". The debts and liabilities which the Fed and US Treasury have taken on will do little to fix the liquidity issue but will have long term consequences for the dollar, our debt and our ability to service it, I think.

[Ron H.]

I serious here. I am rethinking moving out of the US. My wife won't like my hot & humid move but this last 60 days is just the beginning of the end. DC is so corrupt that its only salvation is a total clear out, which ain't gonna happen.

I used to think that as well but when I started thinking where I'd move to I couldn't think of a another country that would do. Maybe now I had better start rethinking that before I end up circling the drain with the rest of America in a few years.

[TChris]

I used to think that as well but when I started thinking where I'd move to I couldn't think of a another country that would do. Maybe now I had better start rethinking that before I end up circling the drain with the rest of America in a few years.

Australia is sounding pretty reasonable these days...

[tanuki]

“I used to have a dog that would pee all over himself in excitement and anticipation.

Don’t know why that comment seems so appropriate.”

Was it named Paulson?

[dragonblustar]

Yep, you're right.

And just like before

Selling out America and giving into the democrats.

[ichabod1]

I’m knocking about $400 a month off my balances... I got serious about my debt/spending problem in July. I hope its not too late. It probably is.

BTW, the govt will never give you the advice you just gave. It will be like when terrorisn was the watchword and they made the airports into mini-gulags, but they were like “fly everybody, come on, fly!” I figured if it was so dangerous I needed to be strip searched and take my shoes off, it would be more patriotic for me to stay OUT of the airports so I wouldn’t be in the way.

[Ron H.]

My compliments.

[Ron H.]

Australia is sounding pretty reasonable these days...

I almost moved there when I got out of the Army back in '71. But they have very harsh laws banning guns. That now turns me off so I need to look elsewhere.

[Road Warrior ‘04]

We now are slaves to the government.

Don't worry! Our descendants will be able to make a claim for reparation in a 150 years or so.

[Ron H.]

Because they’ve got credit rating tied to insurance, employment, healthcare, and everything else they can think of.

But if about 15-20% of the populace did that then those things would change.

[Road Warrior ‘04]

To self and others, my screen name can’t be changed or can it? I can at least change my tagline.