Market Meltdown Monday

[Devilish34]

It's more a complete lack thereof. Banking deregulation during the Reagan era and continuing through the Bush senior term played a big role in letting the system get out of control.

I think we will see whomever takes over the presidency reverse a lot of the deregulating that the Republicans did.

And the Dems hands are clean in this

[LOULAM1]

I am investing in Canada. I took some money out and bought Canadian maple leaf gold pieces. If the economy really goes to hell at the very least I will have $100 CDN to start a new life with.

I may sell off a case and diversify. I will s/w my financial advisor in the morning at the bar over some Lairds Applejack and a few bloodymary's and look into the gold pieces. Thanks for the inside as I owe you one...

[Devilish34]

http://www.youtube.com/watch?v=_MGT_cSi7Rs...reddie-in-2004/

[Don]

http://www.youtube.com/watch?v=_MGT_cSi7Rs...reddie-in-2004/

I'm quite confused by this. In 2004 the Republicans had control of Congress, the Senate and the Executive Branch. How is it that they could not pass a bill? With or without the Democrats co-operation, if the issue was important enough, they could have forced the issue through no? I can't claim to be anywhere near an expert on "How a Bill becomes a Law" in this country or yours... but I'm very interested in hearing how a party with absolutely no power managed to completely derail the economy while the party with all the power is completely blameless.

[Don]

And the Dems hands are clean in this

Didn't say that. Not what was asked. Clinton also continued the deregulation, including the repeal of the Glass Steagall Act, which then allowed banks to sell mortgage-backed securities. McCain voted to repeal Glass Steagall in a vote that was straight along party lines with the Republicans voting for it and the Democrats against it... and then dumbass Bill didn't veto it.

[eaglejelly]

It might of passed had the stupid cvnt not opened her mouth

Lawmakers quickly point fingers after bailout fails

Rep. Barney Frank:

"Because somebody hurt their feelings, they decided to punish the country?"

[devilsadvoc8]

Lawmakers quickly point fingers after bailout fails

Rep. Barney Frank:

"Because somebody hurt their feelings, they decided to punish the country?"

Take the blinders off. Look at who voted against the bill from the dem side- most of them are up for re-election thus only those with job security (at the current time) thought this was a good bill. Before casting blame with your party bias on, think for yourself instead of the partisan sound bites issued by both sides.

[RowdyFan42]

Take the blinders off. Look at who voted against the bill from the dem side- most of them are up for re-election thus only those with job security (at the current time) thought this was a good bill. Before casting blame with your party bias on, think for yourself instead of the partisan sound bites issued by both sides.

It's the House, EVERYONE is up for re-election.

Here's the roll call for anyone interested:

http://clerk.house.gov/evs/2008/roll674.xml

				Ayes	Noes	PRES	NV
Democratic	   140	  95
Republican		65	 133			 1
Independent
TOTALS		   205	 228			 1

[eaglejelly]

Take the blinders off. Look at who voted against the bill from the dem side- most of them are up for re-election thus only those with job security (at the current time) thought this was a good bill. Before casting blame with your party bias on, think for yourself instead of the partisan sound bites issued by both sides.

You missed my point. I am reacting to the comment that supposedly Pelosi

[Devilish34]

Unconfirmed but I heard they tried to include in this last bill an attempt to fund union pension plans

[eaglejelly]

Unconfirmed but I heard they tried to include in this last bill an attempt to fund union pension plans

If you can

[RowdyFan42]

In my opinion there are 2 options in the long run

1. If you expect the Fed (the taxpayers) to bail you out in the bad times, you will have to except government regulation in the good times

2. If you don

[Devilish34]

If you can

[LOTCB]

Pelosi was arrogant, and the timing of her speech was WAY off...then what do the Republicans do? Wah, my feelings are hurt so I will NOT pass this bill and make the country suffer.

It is a vicious cycle and BOTH parties are to blame?

You want REAL change and cannot decide who to vote for?

Vote independent.

[squishyx]

Pelosi was arrogant, and the timing of her speech was WAY off...then what do the Republicans do? Wah, my feelings are hurt so I will NOT pass this bill and make the country suffer.

It is a vicious cycle and BOTH parties are to blame?

You want REAL change and cannot decide who to vote for?

Vote independent.

What makes independent candidates any better? you didn't do much for the cause there. The mere presence of a 3rd option hardly makes it an improvement.

[sammyk]

Unfortunately the only thing that the two parties agree on is that there should be no more parties.

[Devilish34]

Unfortunately the only thing that the two parties agree on is that there should be no more parties.

two kids one toy

[devilsadvoc8]

It's the House, EVERYONE is up for re-election.

Woops, my bad. You are absolutely correct. I should have stated those reps that are facing real competition for re-election.

[devilsadvoc8]

And the market up almost 500 so all chicken little's please report to next crisis....

[squishyx]

And the market up almost 500 so all chicken little's please report to next crisis....

It will drop by equally as much if nothing is done about this in the house thursday imo.

[Hi, I'm VALUE!]

Okay, is there anyone who can actually produce the text of the bill?

Because:

1) I care less about who's to blame and would rather discuss why, if any reason, did this bill fail and what to expect since it seems like everyone and their mother is trying to shove this bill down our throats. We might wanna know what they're putting in here that they find so necessary. And, depending on the news outlet you look to, you could get anything from "class warfare" to "people are too stupid to see what good this does for them".

2) And if this bill is as retarded as it could be (not in dollars, since we have to remember $1million in the USG budget might = $1 in a personal budget, but in where the money is going), then we need to get on the horn, pronto, and tell these guys to vote this deal down or up, depending on how it reads.

[PeteyNice]

And the market up almost 500 so all chicken little's please report to next crisis....

Uhh it has been swinging wildly for the last two weeks. You are naive if you think one good day means the crisis is over.

[squishyx]

Okay, is there anyone who can actually produce the text of the bill?

Because:

1) I care less about who's to blame and would rather discuss why, if any reason, did this bill fail and what to expect since it seems like everyone and their mother is trying to shove this bill down our throats. We might wanna know what they're putting in here that they find so necessary. And, depending on the news outlet you look to, you could get anything from "class warfare" to "people are too stupid to see what good this does for them".

2) And if this bill is as retarded as it could be (not in dollars, since we have to remember $1million in the USG budget might = $1 in a personal budget, but in where the money is going), then we need to get on the horn, pronto, and tell these guys to vote this deal down or up, depending on how it reads.

I'm not sure it's been posted I know one thing Obama has been saying is that after the bill passes (obviously a few days ago) that he wants it put online so everyone can see exactly what it calls for so the public can read it themselves. Idk if it's standard practice to make bills available before a vote, although it might be nice if we could.

[LOTCB]

What makes independent candidates any better? you didn't do much for the cause there. The mere presence of a 3rd option hardly makes it an improvement.

What MAKES the Republicans and Democrats better, other then having the objective to smear the other party as much as possible and deflect from the 'things' they do not do right.

[Devilish34]

Okay, is there anyone who can actually produce the text of the bill?

Because:

1) I care less about who's to blame and would rather discuss why, if any reason, did this bill fail and what to expect since it seems like everyone and their mother is trying to shove this bill down our throats. We might wanna know what they're putting in here that they find so necessary. And, depending on the news outlet you look to, you could get anything from "class warfare" to "people are too stupid to see what good this does for them".

2) And if this bill is as retarded as it could be (not in dollars, since we have to remember $1million in the USG budget might = $1 in a personal budget, but in where the money is going), then we need to get on the horn, pronto, and tell these guys to vote this deal down or up, depending on how it reads.

link

I'm too tired to read it

I'm not sure it's been posted I know one thing Obama has been saying is that after the bill passes (obviously a few days ago) that he wants it put online so everyone can see exactly what it calls for so the public can read it themselves. Idk if it's standard practice to make bills available before a vote, although it might be nice if we could.

I had read there was a lot of pork in it but see the link above.

Rep. Pitts Opposes Flawed Financial Rescue Bill

Congressman Joe Pitts (PA-16) today released the following statement after voting against the Emergency Economic Stabilization Act of 2008:

Edited September 30, 2008 by Devilish34