The country's economy relies on the passing of this bill. It will inject some much-needed capital into the markets and get lending between banks going again. The bad debt will become good debt within 3-5 years.
US capital markets lost $1.1 Trillion in market value today. I'd say we can't afford NOT to spend the $700 billion.
Ha, yeah, I guess that's the difference between us. I don't see this as the bottom or anywhere near it. I'll start buying again at 8,000, assuming of course that there is no bailout. I'm being a bit facetious here but times are tough and cash/cash equivalents are the way to be. Hmmm, and I here I thought we had been looking at this for over a week. I have always been a proponent of letting the market work itself out. Always. To me, this is the most despicable piece of legislation maybe ever. But it's very necessary. The thing that irritates me is that everyone who is against this doesn't seem to have a plan. Major banks are going under at an alarming rate. Financing is harder and harder to come by for everyday types of things. Something has got to happen.
I AGREE BUT i FEAR ONE THE THE MAIN STICKING POINTS IS FORGIVENESS OF THE BAD LOANS DELINQUENT HOMEOWNERS TOOK OUT.(Oops. Sorry about the caps) The only assets the lenders have is the houses.
I wouldn't say that I am glad the bill failed, but I am not disappointed either. I think the entire credit crisis is becomming a giant wake up call to many americans telling them they need to be more frugal with their money. I don't feel sorry for companies being held responsible for their actions, but I do feel sorry for those individuals who are caught in the crossfire. Ultimately, I think this country will be better off in the long run because this bill failed, but the short term will be tough for many. Hopefully, people will learn to live within their means or this will happen again sometime down the road.
The bill will get passed, eventually and in a different form. On one note, not passing the bill will promote the the market to fix itself, but how long will that take. however, i think it needs to pass to get the credit lines flowing. people on "main street" have salaries coming from loans so, this isn't just about bailing out wall street. I'm still sorting it out myself
I suspect there will be a better plan passed in the next two weeks. One that won't hit the taxpayer with a $700 billion dollar fee.
it makes me sick that they are still playing politics. and now theyre taking recess til thursday because of jewish holidays.wtf! i dont care if it was christmas morning or the day their daddy died, they need to get something done now. their gonna d1ck around and have to "bailout" another 100 companies. the fact that there is collateral in this deal makes it a no-brainer. the scale is bigger but this is not the same deal as the 80s SNL.
