Comments about ‘Dow dives as bailout bombs’

The Dow closed Monday down 777 points, the largest point loss in a single day.-
I'm so glad it didn't plunge 666 points, the media would have blamed this crisis on our Christian superstitions.

What is Nancy Pelosi thinking? Why would she sabotage the passing of the very legislation she was pleading for by vilifying the legislators she was trying to convince? This has got to be the most stupid stunt this year in the house. It is especially disturbing that she would exploit an issue so vital to the economic health or ruin of the country to sling mud at her colleagues. She is either very dumb or an extremely mean-spirited person. Either way she has got to go.

Smart decisions can be made by ungodly Republicans.
WarMungers who spent their money on battlefield toys and boxes for their sons and daughters.
This will mean less money left over to build their monuments to their dead.Less flamboyuant parades and ceremonies for the fallen.This is the Book of Mormon all over again. Judgement Must follow greed,selfishness and arrogance.Democrats likewise flaunt their abortions as "freedom of choice".
One word for the land that was once called "Zion" ......"Maranatha"
Like a warning from the past, thats never heeded.

What was Nancy Pelosi thinking? She sabotaged the very legislation she was pleading for by vilifying the legislators whose vote she was seeking. This has to be one of the most stupid moves of the year. It is especially alarming that she would engage in such mudslingging by exploiting such a vital initiative so critical to the health or ruin of the nation's economy. She is either a very dumb or a very mean-spirited person. Either way she must go.

Ill-conceived federal policies caused the current crisis. The federal government chartered Fannie Mae in 1938 and Freddie Mac in 1970; the nub of the problem. The government implicitly promised these institutions that it would make good on their debts, so Fannie and Freddie took on huge amounts of excessive risk.
Worse, beginning in 1977 and even more in the 1990s and the early part of this century, Congress pushed mortgage lenders and Fannie/Freddie to expand subprime lending. The industry was happy to oblige, given the implicit promise of federal backing, and subprime lending soared.
This sub-prime lending was a wholesale abandonment of reasonable lending practices in which borrowers with poor credit characteristics got mortgages they were ill-equipped to handle.
Once housing prices declined and economic conditions worsened, defaults and delinquencies soared, leaving the industry holding large amounts of severely depreciated mortgage assets.

The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government.

Let Fannie and Freddie go belly up, and those financial institutions which acceded to the Democrats ill-advised demands deserved to go bankrupt.

Many channels are portraying that the failure of Republicans to vote for this is because of how Pelosi offended the Republicans by talking about Bush negatively. If Pelosi voted for this bill, she is a complete hypocrite. She said something to the effect, "Why should we give 700 billion dollars to Bush when the Bush economics failed." The two angry Republican responders were obviously for the bill and feel that Nancy's comments were very convincing not to vote for it! Then the Democrats come on and say it failed because Republicans were offended! I think she struck a cord in the confidence of Republicans to give money to the Bush team! Democrats think we can't see the truth by insulting our intelligence!

We're approximately 28 years over due for a depression! We're 2 standard deviations away from average according to the Kondratieff wave. Approximately every 50 years there's an economic depression.

I'm also extremely against this plan. Just like they bought up AIG, I think they want to buy the financial institutions and have more government control! Let the depression happen! Don't sell by giving away freedom! If not prepared, you'd better declare repentance! Repentance diverts calamities!

I've heard that the reason those who have voted against it is because they are listening to their constituents and to public reaction and are voting as they think the people want. Since when do they do what the people want?? Since when do they care?? And do they really care, or is just an election year?

Good observation.

At least someone involved in the process made a decision. Many thanks to the House leadership for their strong motivational skills.

Way to go those who voted NO. We are now suffering because you listened to your ignorant constituents who know nothing of economics and the relationship between wall street and main street.
I would rather have a job and have credit extended to me to survive in my business and possibly pay higher taxes than jobless and broke to "send wall street a message".
Ignorant!

Our suffering will show those greedy CEO's what's what. I'm sure they have now learned their lesson and are having to put a hold on their yacht purchase.
What a joke to think that by not passing the bill we are doing the right thing.
Now we are all in a hole.

AMEN!

I hate to say it but I told you so!

Some of you people are bemoaning the "ignorance" of us regular folks not wanting government to throw a trillion of our dollars down another rat hole. I say too bad we haven't been that ignorant during the spending orgy the Democrats have been on for the last forty years.

And how scary is it that an economist for Wells Fargo is quoted in this article saying that "... we lost more today in value than what was being discussed"? Uhhh ... we didn't LOSE anything. My portfolio value may have gone down but since I haven't sold anything I also haven't lost anything. Meanwhile, spending the trillion dollas would have been an actual loss of a trillion dollars. Duh.

Blaming Pelosi makes as much sense. So the Republicans said "she hurt my feelings and so I'm going to spite her and her partisan speech and vote no". WAAAA, WAAAAA.
Grasping at straws to excuse the Republicans underhandedness. They blew it because they have already lost everything including the presidency and left the Dems holding this bag. A bag the Repubs deregulated and now don't want to take responsibility to handle the mess.

It will be interesting to learn what the stocks do now. If they go up by themselves, then maybe the doomsday predictions are wrong and the bailout won't be necessary.

Your right. Our elected representatives should not represent us.

I think its sad that so many people want the government to take care of what is going on! What happened to responsability?? There are very greedy people in this world, including our government officials, who caused this situation and sadly, the honest portion of Americans are suffering as well. I think the best thing to do is ride it out and if it comes to us as a Nation starting at square one, so be it. Nice to have a fresh start anyway. Now all we need to do it get rid of the Demacrats and Republicans in Washington and put people in office that really care about this Nation and her future. Who knows, maybe if we as a people start voting for the person running and not the party, we might end up on top in the end.

...our predicament is analgous to a drowning person going down for the 3rd time. Just before the last finger of the victim's outstretched hand goes below the water surface the House will extend a hand. However, what Congress fails to realize is that we the people, as we go down for 3rd time, have absolutely no faith that help will be offered. That is because we have been lied to so often that we trust no politican.