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Congress OKs historic bailout bill; Bush signs it
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Bill from South Dakota | 11:24 a.m. Oct. 3, 2008
We are in a real crisis. I do not believe that this bailout is even going to do
anything other than bail out the fat cats. The banks that haven't collapsed
yet have no idea how bad off they really are. with practically no oversight on
derivative investments many are insolvent and don't even know it yet! $700
billion is only the tip of the iceberg.
The powers that be will try to make a game face and say that this will settle things down but just watch... look for a national bank holiday REAL soon!
The powers that be will try to make a game face and say that this will settle things down but just watch... look for a national bank holiday REAL soon!
Mhansen | 11:38 a.m. Oct. 3, 2008
Ridiculous,
I love how they just rubbed it in our faces by loading it up with another $110 billion of pork. I'm furious at this congress and I hope enough other people are to vote everyone out that voted for this corrupt bill!
I love how they just rubbed it in our faces by loading it up with another $110 billion of pork. I'm furious at this congress and I hope enough other people are to vote everyone out that voted for this corrupt bill!
Comments continue below
A great relief | 11:39 a.m. Oct. 3, 2008
Passage of this package represents a victory of macroeconomic Reason over
dittohead paranoia. NOw if only we could all admit that change is urgent, and
that voting Republican is voting against change.
Sweet | 11:40 a.m. Oct. 3, 2008
I told you earlier that this would happen all of you who decried the bailout.
But as the last week has shown us that a credit freeze can and will affect
everyone.
Here is to the Congress for finally getting something done that will actually improve the markets. And shame on the Republicans for increasing the size of the bailout to 850 billion all so they could try and preserve their own seats. We should vote all the "nay" voters from Monday out of office for good, Matheson and Big Boy Bishop too.
Here is to the Congress for finally getting something done that will actually improve the markets. And shame on the Republicans for increasing the size of the bailout to 850 billion all so they could try and preserve their own seats. We should vote all the "nay" voters from Monday out of office for good, Matheson and Big Boy Bishop too.
What Now? | 11:43 a.m. Oct. 3, 2008
What happens if (when) the economy still tanks? Are we going to bail out
Wal-Mart and McDonalds next?
Sorry future generations for the 11 TRILLION DOLLAR Debt. Thank President Bush and the other Clowns in Washington D.C.
Sorry future generations for the 11 TRILLION DOLLAR Debt. Thank President Bush and the other Clowns in Washington D.C.
C.W. | 11:48 a.m. Oct. 3, 2008
The State of California just asked for 7billion also to keep their state going.
Might as well just print another 7 billion for them too while we're at it.
By the end of the day those orders for "free" money will probably run
into the trillions. Maybe we'll need to outsource all this money printing
to India, its hard to keep up with the demands!
Bank CEO | 11:49 a.m. Oct. 3, 2008
Thank you guys!!!
I was waiting for that money in my checking account, I wanst sure to bouy or not the tickets to the Bahamas for next week.
I so relief we sold our bank to the other loosers.
Im the happiest man on earth, we did wrong and we get paid...and with bonus in my pocket!!!
Im sorry people but business is business.
See ya in Bahamas!!!
PD: Did the Congress also paid for my friend's factory debts? cause we call the guys in congress to add him.
Thanks you anyways!
I was waiting for that money in my checking account, I wanst sure to bouy or not the tickets to the Bahamas for next week.
I so relief we sold our bank to the other loosers.
Im the happiest man on earth, we did wrong and we get paid...and with bonus in my pocket!!!
Im sorry people but business is business.
See ya in Bahamas!!!
PD: Did the Congress also paid for my friend's factory debts? cause we call the guys in congress to add him.
Thanks you anyways!
MSR | 11:49 a.m. Oct. 3, 2008
Congress has forgotten that their job is to represent the people. Americans
have spoken overwhelmingly in opposition to this, and yet Congress ignores us
and pushes this bailout through.
It's time to bring all those who voted in favor of this home and send honest men and women who will do their duty and honor the voice of the people!
Election Day is close and we will not forget.
It's time to bring all those who voted in favor of this home and send honest men and women who will do their duty and honor the voice of the people!
Election Day is close and we will not forget.
Nick P | 11:50 a.m. Oct. 3, 2008
How did Bishop vote?
Hang on ! | 11:51 a.m. Oct. 3, 2008
For those of us who live within our means and are just getting by, this bailout
will affect us soon and make it just that much harder. The working man, or
"Forgotten Man", will have to work that much harder to help pay for
all of the pork in this treasonous bill. If Obama becomes president, I can
almost hear the toilet flushing now, as our country goes down the drain. Whoosh!
glug,glug,glug....
Pitiful.... | 11:56 a.m. Oct. 3, 2008
what else can be said....
Main Street | 12:00 p.m. Oct. 3, 2008
Sorry to say it Main Street, you got tricked again. This package will do nothing
to slow the recession. This is a global recession not just a U.S. problem.
Now we have added another TRILLION dollars to the national debt to show as a legacy to the last of the "Great Generation" and the "Baby Boomers".
Sorry "Baby Boomers" we won't have money to pay for your Social Security and Medicare as you grow old. I hope you got your money from the bailout. When you come to me and my kids asking for more money with your hand out, I will tell you NO, you already spent your allowance (11+ TRILLION DOLLARS).
Now we have added another TRILLION dollars to the national debt to show as a legacy to the last of the "Great Generation" and the "Baby Boomers".
Sorry "Baby Boomers" we won't have money to pay for your Social Security and Medicare as you grow old. I hope you got your money from the bailout. When you come to me and my kids asking for more money with your hand out, I will tell you NO, you already spent your allowance (11+ TRILLION DOLLARS).
This makes me sick! | 12:01 p.m. Oct. 3, 2008
It's not their money to give! Congress makes me sick. 700 BILLION
DOLLARS. This is unprecedented as well as unconstitutional.
great | 12:09 p.m. Oct. 3, 2008
I am glad to be contributing to our socialist society.
DMH | 12:11 p.m. Oct. 3, 2008
I am not surprised that this passed, but it is still a huge mistake. We now as
citizens need to send a clear message to Congress that we are so upset over this
that they do not get re-elected in November. By doing this both Congress and
the Senate have betrayed the American trust, and passed legislation that is
unconstitutional and just plain wrong. It is obvious that they do not care
about us, so we need to return the favor and not care about them. They no
longer need their jobs in Washington and we need to be sure that they don't
get them back. They need to understand that they work for us and not the
lobbyists.
Idiots | 12:21 p.m. Oct. 3, 2008
Lets see??? We give a bunch of crooks 700 Billion; I wonder how this will turn
out?
wallofvoodoo | 12:23 p.m. Oct. 3, 2008
The only crisis we have is a bunch of politicians who won't listen to their
constituents and insist on bailing out their wealthy friends rather than letting
capitalism do what it does best and let the stupid fail while the smart prosper.
Science Teacher | 12:27 p.m. Oct. 3, 2008
Is it time to feed the hogs yet?
kaeh | 12:33 p.m. Oct. 3, 2008
What a mess this country is in! Explain how exactly increasing our National Debt
is supposed to help all of us? We are robbing Peter to pay Paul. It is critical
that there is accountability for greed, overspending and overlending. In the
end, all today's action does is delay the catastrophic collapse which is
coming. And it WILL come.
Amazing ignorance here | 12:34 p.m. Oct. 3, 2008
I'm repeatedly surprised how short-sighted and ignorant in economics most
of the posters here are. This bill had to pass and fortunately, Congress is a
little brighter than the populace.
to:Sweet | 12:35 p.m. Oct. 3, 2008
Little confused? You say shame on the Republicans for adding 150billion more to
the pot and in the same breath you say shame on Matheson and Bishop. Those two
were the only ones representing us that said no to the pork and listened to the
people of Utah. I have never been prouder of two of our Reps. They have my
vote.
Bill from South Dakota | 12:37 p.m. Oct. 3, 2008
Unfortunately we cannot just pass the debt on to our kids. Our economy is run on
credit. Credit = DEBT. What happens when the next treasury auction fails because
no one is willing to bankroll our debt? At that point the powers that be will
then begin to just print money and inflation will explode. You will then see the
world refuse to use the US dollar as payment for goods. Additionally, even with
the infusion of $700 or $850 billion in in liquidity the banks will just deposit
the money due to increases in requirements for "Cash On-hand" based on
their de-valued assts. There will be NO additional money to lend to individuals
or businesses. It is all smoke and mirrors that only benefits the greedy fat
cats on Wall St. Our government is trying to hold it together,but they are
finding out they have no real control.
I find it odd | 12:39 p.m. Oct. 3, 2008
That the bill as originally written was voted for by more republicans than the
bill that just passed.
Coincidence that a pork laden bill can pass with even LESS republican support than the bare bones bill ?
I think not.
Coincidence that a pork laden bill can pass with even LESS republican support than the bare bones bill ?
I think not.
Madden | 12:40 p.m. Oct. 3, 2008
Ridiculous. This will solve absolutely no problems (as we see of course the
White House is already telling us this is only a "step").
What recession | 12:44 p.m. Oct. 3, 2008
And all this from a President that said a few months ago that we are NOT in a
recession, and that Iraq had weapons of mass distruction. Hard to trust our
leader anymore.
Fred | 12:44 p.m. Oct. 3, 2008
It seems that Osama bin Laden's stated method to destroy the US (getting
George Bush to drive us to bankruptcy) is now nearly complete.
Thanks George for taking us to this Brink, it seems that we are nearing the Fascist goal of subverting the individual for the good of the Corporate class is almost complete.
And to think people haven't taken to the streets to remove him from office.
Thanks George for taking us to this Brink, it seems that we are nearing the Fascist goal of subverting the individual for the good of the Corporate class is almost complete.
And to think people haven't taken to the streets to remove him from office.
LoD | 12:52 p.m. Oct. 3, 2008
Got food storage?
CP | 12:55 p.m. Oct. 3, 2008
So tell me again how is this mega billion $ bailout supposed to help me?? I
don't own my own business or anything of the sort. I'm not out to buy
a new car. I'm not a billionaire sitting pretty on Wall Street smiling.
I'm sorry to say Sweet but Matheson and Bishop were the smart ones, they
didn't get tricked or convinced. Cannon is already out the door so he just
went with the flow. Well, I guess when I reach the point of Social Security
there will be no such thing cause they won't have any money they gave it
all away to bailout Wall Street.
Kevin | 12:56 p.m. Oct. 3, 2008
HOW DID BISHOP VOTE?
What a mess! | 12:56 p.m. Oct. 3, 2008
The definition of insanity is repeating the same thing and expecting a different
result. We vote these same jokers in, year after year. This bill does nothing to
change Wall Street. It certainly doesn't help ME! Maybe I should quit
making my house payment and wait for my benevolent government to pay off my
debt. Geeezzzz. Like that'll happen.
Bankrupt | 1:00 p.m. Oct. 3, 2008
Morally, fiscally, monetarily -- oh wait, this just in: California needs to
borrow $7B to continue its day-to-day operations. No problem. Our rich Uncle
Sam says today he'll just write another check because the federal
government isn't really bankrupt. Whew! I thought it was the end of the
world ;-)
To: Bank CEO | 1:06 p.m. Oct. 3, 2008
Perhaps while you're in the Bahamas next week you could study English
spelling and grammar just a tad???
re: amazing ignorance here | 1:07 p.m. Oct. 3, 2008
Be sure when you meet your maker you say, "But Congress had to do it.
Everyone is stupid." Be sure to tell him about how greed has motivated your
decision.
Be sure to pass the blame onto someone else when the depression that is to come in a few years hits much harder than it ever could have been, directly because of this bailout bill.
You sir just destroyed America. Soak it up while you can, because your country, MY COUNTRY, will not exist in less than a decade.
Be sure to pass the blame onto someone else when the depression that is to come in a few years hits much harder than it ever could have been, directly because of this bailout bill.
You sir just destroyed America. Soak it up while you can, because your country, MY COUNTRY, will not exist in less than a decade.
Anonymous | 1:11 p.m. Oct. 3, 2008
What will you do when the good jobs are all gone?
Craig | 1:17 p.m. Oct. 3, 2008
A victory of macroeconomic reason over dittohead paranoia. Hahaha. That's
funny. Unfortunately I didn't hear much reason associated with the plan
but I did hear a lot of paranoia. It went something like this--if we don't
pass this bill you will lose your job and your retirement. That was about as
reasoned as it got. On the other hand, there were plenty of other reasonable
plans offered which would have required far less money and were not presented
with the attendant scare tactics. Anytime someone tries to sell you something
with the line that disaster will strike if you don't buy it right now, you
can be sure that you don't need it and its probably going to cause you
grief if you do buy it. That goes for slick car salesmen as well as bald-headed
politicians. The old saying is as true today as it was in yesteryear:
"Haste makes waste, and waste makes want, and want makes strife between the
goodman and his wife."
Wow... | 1:17 p.m. Oct. 3, 2008
Good to know from all you libs that the mess we're in is 100% George
W's fault and that NONE of the Democrats in Congress had anything to do
with sitting idly by while it happened. For a minute there I thought the
Congress was controlled by Nanci Pelosi and our buddy Reed, not to mention the
Clintons. Glad to know from you libs that the Democrats had no hand whatsoever
in this mess!
Anonymous | 1:19 p.m. Oct. 3, 2008
Just like Daddy Bush's S&L bailout where the richie-riches running the
show came out of it smelling like a rose - now we have an even bigger and better
bailout for the cronies.
And this is all just swell for the GOP voters.
LOL!
And this is all just swell for the GOP voters.
LOL!
It'll work | 1:27 p.m. Oct. 3, 2008
Credit can start flowing again. We can all start borrowing more to buy stuff we
can't afford. Congress can get reelected by buying our votes (pork) and
lowering our taxes, without any regard to balancing our budget. We can continue
to grow our national entitlement programs.
But we'll be back here again. And next time will be worse. At some point we won't be able to borrow any money. Then what'll we do?
Today, not Monday, will be the day that stands in infamy in the history books. I wonder what language it'll be written in.
But we'll be back here again. And next time will be worse. At some point we won't be able to borrow any money. Then what'll we do?
Today, not Monday, will be the day that stands in infamy in the history books. I wonder what language it'll be written in.
S.B. | 1:32 p.m. Oct. 3, 2008
WE HAVE JUST BEEN FLIPPED OFF BY CONGRESS!
A new low even for them. They've probably already got their new jobs on Wall Street lined up, since they've got to know they won't be returning in Jan.
A new low even for them. They've probably already got their new jobs on Wall Street lined up, since they've got to know they won't be returning in Jan.
McCain's miscalculation | 1:32 p.m. Oct. 3, 2008
Someone tell me if I'm wrong:
1. McCain is the maverick of the Senate.
2. He chooses a maverick governor as VP.
3. He suspends his campaign to "fix it."
4. He stands on the sideline while "they" fix it.
5. He votes with Obama to pass it.
6. He explains it was "best for America."
Isn't number 7 that he just lost the election, because if he were really the maverick he pretends to be he would have stood with the majority of Americans who are angrier than wet bees? Bye Bye White House, Senator McCain -- you didn't stand up under the torture.
1. McCain is the maverick of the Senate.
2. He chooses a maverick governor as VP.
3. He suspends his campaign to "fix it."
4. He stands on the sideline while "they" fix it.
5. He votes with Obama to pass it.
6. He explains it was "best for America."
Isn't number 7 that he just lost the election, because if he were really the maverick he pretends to be he would have stood with the majority of Americans who are angrier than wet bees? Bye Bye White House, Senator McCain -- you didn't stand up under the torture.
DR Don | 1:33 p.m. Oct. 3, 2008
"Just like Daddy Bush's S&L bailout...And this is all just swell
for the GOP voters."
Don't forget to thank the Democrat-led Congress for approving this bailout - credit where credit is due, ya know. Oh yeah, be sure to thank Obama and McCain for playing their parts in mortgaging your children's future.
Don't forget to thank the Democrat-led Congress for approving this bailout - credit where credit is due, ya know. Oh yeah, be sure to thank Obama and McCain for playing their parts in mortgaging your children's future.
VOTE THE BUMS OUT | 1:34 p.m. Oct. 3, 2008
Every member of Congress who voted for this bill should be voted out by every
voter with financial common sense.
At a time when Federal spending is out of control, they pass the porkiest of all pork barrel bills. That's like a person with massive debts buying a second home--oh wait, that's how we got here in the first place!
Sometimes to get over a disease, suffering is necessary. Letting failures occur would have been the right decision here. Perhaps that would have been clearer in a non-election year.
At a time when Federal spending is out of control, they pass the porkiest of all pork barrel bills. That's like a person with massive debts buying a second home--oh wait, that's how we got here in the first place!
Sometimes to get over a disease, suffering is necessary. Letting failures occur would have been the right decision here. Perhaps that would have been clearer in a non-election year.
Votes Tally | 1:35 p.m. Oct. 3, 2008
BILL TITLE: Emergency Economic Stabilization Act of 2008
Yeas:
Senator Bennett
Senator Hatch
Congressman Cannon
Nays:
Congressman Bishop
Congressman Matheson
Don't forget to take the time to call your Representative and express your opinion on how they voted.
Yeas:
Senator Bennett
Senator Hatch
Congressman Cannon
Nays:
Congressman Bishop
Congressman Matheson
Don't forget to take the time to call your Representative and express your opinion on how they voted.
Anonymous | 1:36 p.m. Oct. 3, 2008
So what?
This is just a band-aid.
Jobs are going - going - GONE!
Brother, can you spare a dime?
This is just a band-aid.
Jobs are going - going - GONE!
Brother, can you spare a dime?
Start borrowing | 1:37 p.m. Oct. 3, 2008
Ok everyone we've been saved. Resume borrowing. Having the money first is
so old school.
Obama | 1:41 p.m. Oct. 3, 2008
Obama wanted this bailout and he urged congress to sign it. So, I guess that
means that I'm NOT voting for Obama.
This is only going to cost everyone and give congress a reason to raise taxes. This is a very corrupt system we live in. If the market fell over commodities this wouldn't happen. But it involved the fat cats.
This is only going to cost everyone and give congress a reason to raise taxes. This is a very corrupt system we live in. If the market fell over commodities this wouldn't happen. But it involved the fat cats.
Where are??? | 1:42 p.m. Oct. 3, 2008
all the Nobama lovers?
They need to see this. This is what we're going to get with Nobama.
More debt, more spending, more corruption.
I'm speechless.
What an age we live in. | 1:46 p.m. Oct. 3, 2008
Where congressmen and a few posters on this board think they are smarter than
all the people.
At least Bishop and Matheson listened to the people. Cannon must have done the sheeple 'yes' vote following the media as a last spite against the state and constituents he long ago abondoned. Or was he following orders from his "next" employer? Keep your eye an where he ends up.
As for the rest of us, we can now look forward to 20 plus years of stagflation, 45 year mortgages, high unemployment, high taxes, and failing banks by the thousands now because of this bailout.
Remember to vote OUT every congressman and senator that voted for this bailout.
At least Bishop and Matheson listened to the people. Cannon must have done the sheeple 'yes' vote following the media as a last spite against the state and constituents he long ago abondoned. Or was he following orders from his "next" employer? Keep your eye an where he ends up.
As for the rest of us, we can now look forward to 20 plus years of stagflation, 45 year mortgages, high unemployment, high taxes, and failing banks by the thousands now because of this bailout.
Remember to vote OUT every congressman and senator that voted for this bailout.
king george | 1:48 p.m. Oct. 3, 2008
and now we know what bush's goden parachute is...lol whats a trillion bucks
between the good old boys. go george...now we have a king and a duke of finance
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AP Photo/Lauren Victoria Burke
Speaker of the House Nancy Pelosi, D-Calif., signs the Emergency Economic Stabilization Act of 2008 after the House of Representatives passed it by 263 to 171 on Friday. Pelosi is joined by Rep. Rahm Emanuel, D-Ill., left, and Rep. John Larson, D-Conn., right.
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After all, ITS NOT THEIR MONEY!
We can always just pass the debt on to our kids, and tell them we didn't want to make Wall Street unhappy, that it was real easy to go for it because our leaders told us we were stupid and had to do it anyway!