Bailout Bill Fails House Vote

Discussion in 'Free Speech Alley' started by LSUMASTERMIND, Sep 29, 2008.

  1. LSUMASTERMIND

    LSUMASTERMIND Founding Member

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    Bailout Bill fails house vote, markets drop 600 points as of now.

    http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes

    here is the plan if you have time to read it. I will read it later this evening.


    http://i.cdn.turner.com/cnn/2008/images/09/28/ayo08c04_xml.pdf



    Democratic Reaction:

    Whats your reaction?
     
  2. TexTiger

    TexTiger Founding Member

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    short term it will hit our economy hard.

    long term we'll be better off for it.

    I worked for a hedge fund for 10 years and know first hand how market manipulation through shorts and swaps, etc... can affect the markets. Look for hedge funds to be as obsolete as i-banks soon.

    at the end of the day the banks and mortgage companies that spent 10 years digging their own grave are going to have to lie down in them.

    Markets correct themselves eventually, no need to rob peter to pay paul when peter shares the same house.
     
  3. SabanFan

    SabanFan The voice of reason

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    That's all fine and dandy as long as you have no intention of buying a house or a car or borrowing to remodel the house or send your kid to college or to take a vacation or to pay for a wedding, etc etc. for the next few years.
     
  4. mobius481

    mobius481 Registered Member

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    I don't see how anyone can possibly vote against this bill. The ramifications are so big and widespread but no one wants to worry about that. All they want to do is follow party principles and focus on not bailing out wall street execs. All that is in the past and should be out of the window as we try to avoid one of the worst economic periods of all time and certainly the worst that any of us have seen. I guess I see it more because I work with banks on a daily basis but you would think lawmakers would understand this stuff. I gotta run for now, I was gonna wait for the bump on the passage of this bill but will now sell all my securities without it.
     
  5. LSUMASTERMIND

    LSUMASTERMIND Founding Member

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    That was my first reaction, how do they continue business without this. No one is lending money right now.
     
  6. CajunlostinCali

    CajunlostinCali Booger Eatin Moron

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    Nope. Back to selling crack to school kids I guess. :hihi:
     
  7. Rex_B

    Rex_B Geaux Time

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    Take a lesson: http://www.youtube.com/watch?v=ticytEUvVhQ

    Supporting this bailout is supporting the destruction of this country. Let us take a hit now and the market fix the problem not the socialistic govt. we have come to know.
     
    1 person likes this.
  8. TexTiger

    TexTiger Founding Member

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    Amen brother. Every American will sacrifice but its the best thing to do. Geaux RP.
     
  9. red55

    red55 curmudgeon Staff Member

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    Selling on a downturn is not the way to make money. Now is the time to look for bargains.
     
  10. red55

    red55 curmudgeon Staff Member

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    It doesn't have to be this bill or no bill. Compromises will be made and a new bill drafted. Much research needs to be done concerning a thing this complex and expensive. The notion that we have to fix it all in 24 hours is ridiculous. Nobody even knows where that $700 Billion figure comes from.
     

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