HOUSE DEFEATS BAILOUT BILL

cspan ^ | September 19,2008

[icwhatudo]

Defying their leaders who had caved, House Republicans managed to defeat the 700 Billion Dollar bailout bill.

The bill would have used US tax payers money to bail out not only US banks but foreign banks as well.

[MHGinTN]

"McCain is clueless, rudderless, and has not made a single mention of ACORN, subprime, Raines, Johnson, Obama Ayers or Rezko." Bwahahahahahaha, raving at others because you've failed to see ANY of the television ads the McCain campaign has issued with the 'I'm JOhn McCain and I approved this message'. What a maroon you prove yourself to be! Bwahahahahahahaha ... what a day! Comedy relief at FR. It doesn't get any better than this.

[blf1776]

I just moved 20K from stable income the DOW500.

Hope I double my money.

[pollywog]

Bill Clinton said it was the Democrats fault.

I never thought I would thank Bill Clinton for finally being HONEST on something...but BILL, if you read this........ THANK YOU FOR TELLING IT LIGHT IT IS!!!!!!!!!!!!!!!!

[lessulgrove]

“The lone R. with no vote at all was Jerry Weller, 11th district of Ill.”

He must have Presidential aspirations! Oh Wait.. that would have been a “Present” vote... my bad.

[Cedric]

John McCain singlehandedly stopped the original bill in its tracks Thursday.

Thank you, President McCain!

[uncbob]

And, let the lenders be wiser in the future. Only extend credit to those with excellent credit.

Where have you been

Clinton strong armed the banks and used Reno to threaten them

[Mr. Binnacle]

Stocks would rise sharply if it was repealed.

Sarbanes-Oxley is a scam that costs corporations millions of dollars every year in regulation. It was an attempt by the Federal govt. to regulate corporations by demanding transparency after Enron and other failures. However, the burden it places on corporations is so huge, that it stifles growth and adds much cost.

It has been great for the lawyers and accountants, though.

[WOSG]

“Thanks to the Republican party, who couldnt politic their way out of a sack of wet toilet paper, we are going to get blamed for this. Imagine every MSM outlet, blog, etc screaming that they are 1-responsible for the problem, 2-standing in the way of fixing it, 3- causing a global market crash. This is the tipping point for the election. Welcome President Obama and total RAT domination of our govt. Welcome a Supreme Court full of liberal fascists. Big fun coming...”

Exactly. We are very foolish to be happy this failed. The failure of the bailout bill worsens the economic crisis and makes it more likely that the Democrats will have a full sweep in the fall.

The Republicans should ask for a revote and get 10 members to walk the plank and vote “AYE”.

Young conservative Paul Ryan (R-WI), who helped lead the House GOP revolt a few days ago, just made a passionate plea for his colleagues to back the bailout.

“This bill offends my principles but I’m going to vote for this bill in order to preserve my principles... to preserve [the free enterprise system],” he said. “This is a Herbert Hoover moment.. he made mistakes during the Great Depression... Let’s not make those mistakes... If we fail to do the right thing, heaven help us—if we fail to pass this I fear the worst is yet to come.”

[Tarpon]

Great news for America ...

[MHGinTN]

Could it be because of the ‘mark to market’ aspect and by ending that accounting method the failing assets could be held in limbo long enought to recover market capitalization and grow the economy?

[teletech]

Even the members of Peelousey’s own party couldn’t stomach this travesty of a bill. Now.... John McCain can you show us how it SHOULD be done? We all know we need to fix this BUT now we should step up again and do it right!

[rlferny]

After Enron and Worldcom, the Governmnet decided to enact accounting rules that made companies value all assets at current market value. Instead of a rolling average or something like that.

So when the houseing market tanked all banks’ assets were devalued. Not just forclosed on property all assets, even if they were good, were written down totally devaluing banking assets.

One other way the government is responsbile for this crisis.

[mikrofon]

It ain't dead until the Doctor says it is...

[Txsleuth]

The House GOP on Fox doing their well deserved victory lap!

Thanks guys!

[taildragger]

Bill Clinton said it was the Democrats fault.

The triangulation continues for party control should the anointed one fail....

[1curiousmind]

Okay, now McCain and the house/senate Republicans need to put forth a PRIVATE SECTOR solution to this mess... thus saving his campaign and capitalism. Not bad for a Monday!

BUT WILL THEY????

[blf1776]

I just moved 20K from stable income - TO - the DOW500.

Hope I double my money.

Sure is a big day for FR, that is why it is so slooow.

[ctdonath2]

preserve [the free enterprise system]

Destroy the village in order to save it, eh?

Give our economic system to the government so our economic system will be free from the government, eh?

HONOR CONTRACTS. That's the only way out of this. You make a bad loan, you suck it up; if that affects my by way of a chain of contracts, fine ... but don't circumvent the agreements by making ME pay for SOMEONE ELSE's bad loan. I have my own mortgage to pay, thank you very much; take my money to pay for someone else's bad loan, and I may not be able to make my own.

END THE PYRAMID SCHEME.

[AmericaUnited]

PELOSI’S WICKED MOUTH GETTING THE BLAME!

YEAH! GOP ROASTING HER IN NEWS CONFERENCE!@ PAYBACK TIME!

[Texas Federalist]

We are very foolish to be happy this failed. The failure of the bailout bill worsens the economic crisis and makes it more likely that the Democrats will have a full sweep in the fall.

So we should support the largest socialization of the economy in history to make it less likely that the Democrats will be elected and attempt to socialize the economy? That's like burning your house down so it doesn't get destroyed by a hurricane.