Who voted which way on the failed 9/29/08 bailout package

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[quote author="Nude" date=1222761571][quote author="no_vaseline" date=1222758965]The bailout cost $700 billion.



The market blew off $1.5 trillion just today.



It's absolutely a good idea to not pass this. I'd much rather pay ten or twenty times the price based on principal that deregulation has been a good thing.</blockquote>
My wife's retirement account took a good hit today, mainly because any stocks worth anything got sold off, and she was fine with it; she'd rather lose a little personal wealth now than see the entire country saddled with a bad "bailout". Your snarkiness aside, there are millions of people who support those who voted against the bailout. Some don't like bailing out billionaires, some don't like socializing losses, and others (like my wife and I) think that we've got to let the world crumble sooner rather than later so we can get it rebuilt and avoid passing on this crap to the next generation. For whatever their reasons, people demanded that their representatives heed their wishes and a majority of them did just that. I, for one, am glad to be an American today.



But hey, don't let us stop you from feeling morally superior in your derision.</blockquote>


Amen Nude. While I worry for our economy, I am proud to live in a country where the voice of the individual still matters to a degree... Helps to not be invested in anything too but even if I was long equities, I still wouldn't want the bailout approved as put forth.
 
[quote author="no_vaseline" date=1222758965]The bailout cost $700 billion.



The market blew off $1.5 trillion just today.



It's absolutely a good idea to not pass this. I'd much rather pay ten or twenty times the price based on principal that deregulation has been a good thing.</blockquote>


The $1.5 trillion was in overvalued assets. They were blown when they were spent on a speculative market which does not represent the fundamentals, just like the real estate market "blew off" trillions of dollars.
 
[quote author="Nude" date=1222761571][quote author="no_vaseline" date=1222758965]The bailout cost $700 billion.



The market blew off $1.5 trillion just today.



It's absolutely a good idea to not pass this. I'd much rather pay ten or twenty times the price based on principal that deregulation has been a good thing.</blockquote>
My wife's retirement account took a good hit today, mainly because any stocks worth anything got sold off, and she was fine with it; she'd rather lose a little personal wealth now than see the entire country saddled with a bad "bailout". Your snarkiness aside, there are millions of people who support those who voted against the bailout. Some don't like bailing out billionaires, some don't like socializing losses, and others (like my wife and I) think that we've got to let the world crumble sooner rather than later so we can get it rebuilt and avoid passing on this crap to the next generation. For whatever their reasons, people demanded that their representatives heed their wishes and a majority of them did just that. I, for one, am glad to be an American today.



But hey, don't let us stop you from feeling morally superior in your derision.</blockquote>


Having lived through the S&L bust of the 1980s and the Farm Crisis of the early 1980s please forgive me for not wanting to retrace my steps a second (third?) time...............I'd of gladly gave up my portion of portfolio today to avoid what's next.
 
[quote author="Nude" date=1222761939][quote author="skek" date=1222760971]The current bailout rumor is that the Democrats are going to strip some of the pro-Wall Street stuff out of the bill, add some of the populist stuff that was negotiated out in committee (tougher exec comp limits, mechanism for BK judges to modify mortgages, union proxies, etc.) and try to pass the bailout on a straight party-line vote.</blockquote>
Clearly they are operating under the assumption that it was the details (or the evil Republicans), rather than the premise, that caused the bill to fail. If people don't speak up and reinforce their position with their Congressional representatives, I can see many Dems being persuaded.</blockquote>


I watched the Democrats grandstand after the failed vote and blame the Republicans. I sat there thinking "you are the majority, you can pass whatever you want." The political posturing was laughable. If they do go back and pass a party-line bill, it will die in the Senate, so unless they can cooperate with House Republicans, this bill is dead.
 
"cooperate with the house repugs"?



If the current administration wants the god-like powers, they should get their party members in the house in line. If I were advising the dems, I would tell them to let it die until 2/3 of the house gop votes yay. Until then, they can just blame bush/mclaim for not having control of the party/economy
 
[quote author="IrvineRenter" date=1222766065][quote author="Nude" date=1222761939][quote author="skek" date=1222760971]The current bailout rumor is that the Democrats are going to strip some of the pro-Wall Street stuff out of the bill, add some of the populist stuff that was negotiated out in committee (tougher exec comp limits, mechanism for BK judges to modify mortgages, union proxies, etc.) and try to pass the bailout on a straight party-line vote.</blockquote>
Clearly they are operating under the assumption that it was the details (or the evil Republicans), rather than the premise, that caused the bill to fail. If people don't speak up and reinforce their position with their Congressional representatives, I can see many Dems being persuaded.</blockquote>


I watched the Democrats grandstand after the failed vote and blame the Republicans. I sat there thinking "you are the majority, you can pass whatever you want." The political posturing was laughable. If they do go back and pass a party-line bill, it will die in the Senate, so unless they can cooperate with House Republicans, this bill is dead.</blockquote>


It is so frustrating to listen to the self-serving political grandstanding of either party. IMO, the last people in the world qualified to deal with a financial crisis are politicians.
 
[quote author="Trooper" date=1222747977]Jeez, just watched Hank at his press conference at the White House. He looked panicked. I was a little pissed he only took 4 questions too.....WTF !</blockquote>


Bill Gross sounded like he was going to have a breakdown. (start at 1:50)



<a href="http://www.cnbc.com/id/15840232?video=872018725&play=1">http://www.cnbc.com/id/15840232?video=872018725&play=1</a>
 
[quote author="ukyo116" date=1222768705][quote author="Trooper" date=1222747977]Jeez, just watched Hank at his press conference at the White House. He looked panicked. I was a little pissed he only took 4 questions too.....WTF !</blockquote>


Bill Gross sounded like he was going to have a breakdown. (start at 1:50)



<a href="http://www.cnbc.com/id/15840232?video=872018725&play=1">http://www.cnbc.com/id/15840232?video=872018725&play=1</a></blockquote>


Bill Gross has profited from the other bailouts, and he was probably counting on this one to save the bond market. He has probably lost billions since the credit markets froze last Wednesday.
 
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