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Bailout bill fails
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This is going to sound terrible but there is only one word that can capture the true essence of what is happening in the market right now: sodomy.
God help us. |
This is actually a brilliant move by the Republican Party... they don't pass the recovery bill today so the market crashes. The rich folks buy up lots of under valued stocks, then McCain gets his party to unite and pass a bill within a matter of days, the markets rebound like it's on a trampoline and the rich sell their stocks for a handsome profit. McCain saves the country and wins in November by a landslide - Republicans win all the way around - really a brilliant move :tro:
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Let the blame game begin......
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Posted in the wrong section, anyway it isn't going to be pretty, hold tight and try not to let emotions get the better of us. Hopefully the bottom is not far away.
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no, he doesn't. everyone has debt, the point is not to have too much, and to use your available credit wisely.
so, the loans tighten up. folks can't buy houses, cars, whatever. what do you think happens, scuds, to those in the housing and real estate businesses, dealerships, factories, etc, etc? they lose their jobs because the buying well dries up. not everyone can pay cash for every big ticket item they buy. and, like a small snowball that you push over the edge, it just gets larger and larger as it rolls down hill....more jobs lost, less money, and so it goes. i never thought about this outcome, the bill not passing. back to the drawing board, and hopefully a solution. |
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There are idiots in both parties. Deal with it and spare me the bulls.hit. |
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you don't pay a car note, own a house with a mortgage? i have very little debt myself, but i have some all the same. you can make debt work for you-i mean, who can save the tens of thousands of dollars it takes to buy a house so as to avoid a mortgage? and go tell all the autoworkers they're all out of work, as no one can borrow. yeah, that'll make their day. and everyone who has a 401k is in the stock market to some degree. |
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Hey, I just looked, the Dow is down 777, maybe that's good luck :D
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;) |
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Remember how the sissies reacted to the anthrax scare at the capitol? How is this any different? They can't get anything done, yet people still fervently support their beloved party of choice.
In my lifetime I will witness the fall of the American Empire. Hell...it could be in the next 5 years. We're being governed by morons. |
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The Greatest Generation and their children are to blame. They let this s.hit happen because they feel entitled to do whatever they please. Future generations be damned. |
I don't really like these debates, but isn't the gist of what SCUDS is saying true? Isn't fiscal irresponsibility by America what pretty much got us into this situation?
I'm basically a bleeding heart liberal, and I'm all for helping out those that need help, but how would this bailout necessarily fall into that category? |
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The companies that made the bad loans have already been hurt and they are paying dearly for the fiscal irresponsibility that lead most of them into the situation. The problem is that there are no investors for very good, creditable consumers/businesses due to the issues and problems in the market place. Without the government stepping in and buying a lot of these investments, good honest businesses and consumers will not be able to obtain the financing that they normally could get. The government could actually profit by buying up these securities and some estimates are anywhere from $1-3 trillion yes trillion dollars in profit, by buying and holding these investments; however this depends on what price they buy them at. There is a liquidity crisis in the market that is affecting all financial institutions no matter if they ethically or unethically offered financing. The bailout is not all about letting bad businesses out of their fiscal irresponsible decisions. |
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actually... according to the link you posted... 60% of Dems voted yes and only 1/3 of Repub's voted yes... Does that make bush a closet Dem like I've always believed? ;) |
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I hate to say it as I am a Investor, but someone had to pay for the outlandish policies by some of these sub prime lending companies. Is it possible to feel bad but good at the same time...:zz:
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Thanks. Makes some real sense. |
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Bank of America, Chase, Wells and Citi DID NOT offer neg am loans which were the worst. Wells dipped their feet into some subprime but not to the level of the investment banks that are tumbling left are right. Of those banks named, the only real exposure they have left is to high LTV mezz financing and some ALT A. In plain English, these banks didnt do they bad lending for the most part. |
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so, ignore the problem and tell everyone to change their habits-that solves no problem. well, it won't matter if nothing is done, as so many people will be out of work, they won't be able to buy anything anyway. part of the bailout was supposed to include more regulatory measures as well. |
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however, we have to find a way OUT of the mess, or it will only get tremendously worse. do we need to spend 700 billion to do it? that i'm not so sure of. |
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I agree with about 90% of this, which is about 85% more than most of the things for me in this area of the forum. |
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In your opinion, does the federal government belong in the market place though? |
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