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House Passes Bailout

10/3/08, 2:04 pm EST

Second time is a charm


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Mario Kart | 10/3/2008, 3:14 pm EST

Where is the current Commander in Chief’s leadership that he promised 8 years ago?

Sallad | 10/3/2008, 5:09 pm EST

And America continues it’s downward spiral towards economic slavery. I wonder how many average Americans actually support this bill. Isn’t that who the Congress is supposed to be working for? Where are they getting their orders from? Certainly not their constituents. I don’t know why I’m continually surprised by this sh*t. We’re truly insane in this nation. In that we keep electing the same crooked a-holes and hoping for a different result. Oh, well, better go turn on the idiot box and settle in for this evenings ‘programming’. That’s all it really is, isn’t it? I’m rambling….time to go home and get drunk.

DirtyDennis | 10/3/2008, 5:45 pm EST

Sallad,

Party on, young man. It’s about all we have control over any more.

Let’s see if I’ve got this straight. The people that got us IN to this mess are going to get us OUT? Uh-huh.

And the argument is that it is the ‘right’ thing to do. Tell me, then, was it the ‘wrong’ thing to do all that was happening before? Obviously the powers that be thought what we were doing the past eight years was ‘right’ as well.

I have a pretty low confidence level of the governance on any matter, to say the least, the economic life of this country.

Congressman Humpty Dumpty announced he’d voted against the bill the first time but for it the second time, “…because it was the right thing to do.” Make that the Right thing to do.

The more Washington flounders, the more this country sinks into a morass of its own making. I mean WHO do we blame? Wall St.? The politicos? Thee? Me?

DirtyDennis | 10/4/2008, 6:05 pm EST

When does the ‘trickle down’ reach me?

Brainspore | 10/4/2008, 6:33 pm EST

I had a hunch they would overcome that little “consent of the governed” obstacle before long.

TinFoilHat | 10/5/2008, 4:44 am EST

This bailout without addressing the foreclosure issue is like giving a blood transfusion to a patient who is bleeding out profusely. Why has no one addressed the FORECLOSURE CRISIS? Because that would be helping MAIN STREET, and that is NOT what this is about.

Bullship | 10/5/2008, 11:41 am EST

It’s baffling how Bush can still trick the congress into jumping head first into another one of his historicaly wrong decision blunders so quickly. What a bunch of lemmings. Isn’t it interesting how all these terrible decisions seem to generate mega profits for him and his rich buddies?

TinFoilHat | 10/5/2008, 12:02 pm EST

For those of you who are interested in understanding more about this financial crisis (i.e. non-authoritarian thinkers), check out This American Life where they have two episodes which help to explain the nitty gritty for us non-money manager types.

thislife.org,
check out episode 355, The Giant Pool of Money, and this week’s episode 365, Another Frightening Show About the Economy. The second will be available as a podcast after Monday. They do a better job of explaining the situation than any other source I’ve found.

James Smith | 10/6/2008, 11:14 pm EST

I am not happy about it at all; but, the bailout is 700 billion maybe a trillion; but, Americans owe 1 trillion in credit card debt, 5 trillion in mortgages, and if I remember student loans are defaulted on at a rate of several billion a year. Also there was something about a 200 million dollar mortgage scam that guys were pulling off. who knows how many scams like that were going on? We are talking massive credit fraud. how do you sort out the good loans from the bad ones? that will take time. in the mean time the wheels of business have to keep turning.

it sux.

Adam Smith | 10/7/2008, 5:44 pm EST

I’m turning in my grave right now. To think that these idiots used my theories to justify this abomination. We never had an insurance industry, much less these Credit Default Swaps. Completely unregulated, these were referred to by your modern wizard Warren Buffet as “instruments of mass destruction”. My theories were never intended to support enterprises so big that they could single handedly bring down the world economic system. Your modern leaders are clueless about how to deal with this problem. Their support of unfettered greed has caused this problem. Wise up America! Don’t believe these Republicans ever again!

TinFoilHat | 10/7/2008, 5:49 pm EST

You should haunt them until they repent!

fjm | 10/8/2008, 6:22 pm EST

Remember that this is what the government tried in 1929. It didn’t work then either.

Marzella Porath | 10/11/2008, 9:23 pm EST

Well, what else did anyone expect?
The Federal Reserve is the central bank in charge. Tax Honesty groups and individuals have been fighting about this government for years. Believing the kind of false patriotism we have been hearing for years from our elected officials is sickening. Vote for any new candidate in either party this election. We have to let the incumbants know they have sold all our freedoms for 40 pieces of silver.

Brian | 10/16/2008, 1:13 am EST

Read the Rolling Stone article about the make believe maverick and you will see McCain’s true colors. Once youve read it you will know why Obama is the man fit for office.

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