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[Keats]

bail out bill did not pass

A certain kiss of death was having Nancy Pelosi coming out yesterday saying a deal had been struck......

What a moron....................

[9 1/2 Beers]

might have a second attemp to pass the bill

i don't get how they don't like the outcome ,  so they just keep voting till they get what they want ? 

[elvislee]

Bill was defeated by (guesstimate) 228 Nay....205 Yea...If the Dems wanted it to pass, all they had to do was get the other 94 or so Dems that didn't vote Yea for it....They coulda passed it without the Repulicans; so, why didn't they? I keep hearing this bill has to be bipartisan; Why? If the Dems believe its the right bill to fix the problem, then just vote for it.....So why don't they take their majority and push it on through?...We know don't we? 

[SPIDERMAN]

Maybe I'm a moron, I'm beginning to think so from the number of you who disgree with me that we (the government) should help people hang onto their houses by rewriting some of these mortages and insuring others. I just don't see how dumping thousands of homes into an already glutted marketplace is going to do anything but further the recession. The housing industry is a huge driver of our economy. Like I said, maybe I'm a moron because it just seems to me that if we (the taxpayers) agreed to back up all of these bad mortgages then we'd be protecting the equity in our own homes as well as keeping all of these sub prime mortgages from imploding

Just my dumba$$ $0.02

B B

[kb]

Maybe I'm a moron, I'm beginning to think so from the number of you who disgree with me that we (the government) should help people hang onto their houses by rewriting some of these mortages and insuring others. I just don't see how dumping thousands of homes into an already glutted marketplace is going to do anything but further the recession. The housing industry is a huge driver of our economy. Like I said, maybe I'm a moron because it just seems to me that if we (the taxpayers) agreed to back up all of these bad mortgages then we'd be protecting the equity in our own homes as well as keeping all of these sub prime mortgages from imploding

Just my dumba$$ $0.02

B B

amen

[Keats]

Maybe I'm a moron, I'm beginning to think so from the number of you who disgree with me that we (the government) should help people hang onto their houses by rewriting some of these mortages and insuring others. I just don't see how dumping thousands of homes into an already glutted marketplace is going to do anything but further the recession. The housing industry is a huge driver of our economy. Like I said, maybe I'm a moron because it just seems to me that if we (the taxpayers) agreed to back up all of these bad mortgages then we'd be protecting the equity in our own homes as well as keeping all of these sub prime mortgages from imploding

Just my dumba$$ $0.02

B B

The flip side is the taxpayer is on the hook and it implodes anyway.   Take your medicine now when you are not as sick or take your medicine when you are on death row.........

both are real bad................if you could see the end result from the actions it might be easier  (ala crystal ball)

either way we are in some deep chit................

[BIGDOG]

I have to wonder why no one is looking into the potential for fraud charges against the executives that have profited from this fiasco. Attach their assets and send them to jail. Seams similar to the junk bonds that were being sold, these guys got rich selling mortgages they knew would go south. I have to agree with B B we need to assist the people who are loosing their homes so they can keep them and repay what they owe. If we allow the homes to be sold out from under them the guy's with the big bucks buy them up and rent or resale them and get richer off our backs.
I don't claim to be any kind of financial whizz but I 'm getting tired of making the rich richer. Just a couple thoughts on the subject.

[BLM777]

Maybe I'm a moron, I'm beginning to think so from the number of you who disgree with me that we (the government) should help people hang onto their houses by rewriting some of these mortages and insuring others. I just don't see how dumping thousands of homes into an already glutted marketplace is going to do anything but further the recession. The housing industry is a huge driver of our economy. Like I said, maybe I'm a moron because it just seems to me that if we (the taxpayers) agreed to back up all of these bad mortgages then we'd be protecting the equity in our own homes as well as keeping all of these sub prime mortgages from imploding

Just my dumba$$ $0.02

B B

I think your reasoning is exactly the cause for the defeat of the bill in its' present state.  The whole Wall Street "bailout" premise is the one that's hard to swallow for most all taxpayers and they're putting severe heat on their legislators.  Question is, why protect homes and "toxic" mortgages by making whole the miserable bast...d's that capitalized on high risk loans with 7 figure salaries, bonuses and golden parachutes when they finally broke their companies.  If the government is going to ante up 700B, would  it not be more sensible to guarantee the home loans (ie FHA) directly with the creditors with a renegotiated interest rate, interim reduced payments and let them salvage their homes eventually regaining some of the equity they lost?
Obviously, a great deal of oversight on rewriting the loans so as to avoid refinancing the "flippers" who were attempting a home run on borrowed money, but the folks who leveraged their home equity for improvements, college tuitions and unforeseen expenses need to be taken care of.
IMHO, capitalism has a unique ability to insure the smartest and strongest survive.  I really don't think there would be a lot of tears shed for the ethically devoid investment bankers that went belly up after decades of beating up on Joe citizen unless the government put them back in business. 

[SPIDERMAN]

amen

Thanks - - - - - - I think 

B B

[grc]

Maybe I'm a moron, I'm beginning to think so from the number of you who disgree with me that we (the government) should help people hang onto their houses by rewriting some of these mortages and insuring others. I just don't see how dumping thousands of homes into an already glutted marketplace is going to do anything but further the recession. The housing industry is a huge driver of our economy. Like I said, maybe I'm a moron because it just seems to me that if we (the taxpayers) agreed to back up all of these bad mortgages then we'd be protecting the equity in our own homes as well as keeping all of these sub prime mortgages from imploding

Just my dumba$$ $0.02

B B

You're definitely not a moron Brian, but I think there has to be some better alternative than just sticking it to the many folks like me who didn't create, profit from, or participate in the fiasco.  I certainly think the mortgages that can be salvaged should be renegotiated versus foreclosing and adding to the inventory of unsold homes.  I just think that it should be handled by the assholes who created the mess and walked away with billions in profits, with a little shove and oversight from the clowns in Washington.  And I still think there should be full investigations and criminal charges for those who dreamed up these "innovative" financial products that allowed them to sell dog crap at caviar prices.  I'm pretty certain that I as a private individual wouldn't be allowed to do what these companies did; I'd be sitting in a cell right now waiting to go to trial.  Of course, I don't contribute a ton of money to political parties or candidates.

Jerry 

[hunter]

It was pretty obvious from CNN headline: Plan to Rescue Wall St. failed.

Is it really rescue plan for wall street or for economy.  Yes W. S. may profit some from it, and that should be considered the cost of not having proper checks and balances in place till now.  Let's not through the baby with bath water.  If the banks close money flow, everyone is going to suffer, even those who have paid and paying their mortgages on time.
I listened to a couple of "Nay" voters,  The idiots reason was: We need bills to support alternate energy, and tax breaks for going green and we are not going to approve of anything proposed by Bush's government.  I
It had nothing to do with the package itself.  And one said he received many calls and emails from his constituents disapproving the package, yet they failed to explain to them that it's the economy that's failing (for what ever reason) and needs rescue now before a total collapse.
Everyone lost money to day.  Directly on indirectly.  Through pension funds or future business.  If I don't have money because my wife got pay cut due business loss, I won't buy many Christmas gifts or B-Day gifts, I won't eat out, etc ....

I would love to see Florida votes Rep. this year because all the retired people lost their pension due to Dem's blocking this package.   

After all: Money talks and Bull$hit walks.  And the Dems were told by their large campaign donors

[SPIDERMAN]

I sent polite e-mails to California's Senators explaining my position and requesting that they make dismissal without severance of senior management of the failed firms a part of the pkg. I stated that I felt something of that nature needed to be included if American taxpayers were to regain any trust in their government and any faith in the financial markets. I'll be 100% honest here. I'm staying the course with the family's investments only because to sell at this point would be disastrous. However, unless I see some sign that the government is going to impose some new regulations on the market place, I plan to move everything into financial instruments OTHER than the stock market once the value comes back to where it was a month ago. Now I know nobody cares about little ole me and the few 0's in my family's stake in the market, but it's a matter of principal to me. I'm done lining the fatcats pockets, bitching about it but doing nothing to change it. I'll take a lower ROI in exchange for peace of mind and some sense that I'm taking a stand. Call me crazy, but you reach a point where you feel you have to take a stand or nothing means anything anymore. Can anyone tell me what foreign governments sell their own version of T-bills and what's the best ones to buy ?

B B

[iski]

BB - Foreign markets are tanking and appear to be tied to the problems we face here in the USA.  All I have invested in foreign markets are through mutuals -   are overseas type mutual funds - no T-bill instruments from foreign governments - so no help there.

Unfortunately, this looks to be world wide.  My grandfather put silver dollars in a mattress (absolutely true) prior to the Great Depression in 1929.  I should have followed his lead - much safer.

[SPIDERMAN]

BB - Foreign markets are tanking and appear to be tied to the problems we face here in the USA.  All I have invested in foreign markets are through mutuals -   are overseas type mutual funds - no T-bill instruments from foreign governments - so no help there.

Unfortunately, this looks to be world wide.  My grandfather put silver dollars in a mattress (absolutely true) prior to the Great Depression in 1929.  I should have followed his lead - much safer.

Even the Chinese ?

B B

[iski]

From what I have read, Asian markets (including China) are tanking also.

http://www.cnbc.com/id/19832390/site/14081545/?sky=GGL|CAMP022CNBC_Intl_News_Content|ADGP015AsiaPacificNews|KWRD018china+stock+market&__source=SI_28965890_898451866_0