Comments on: Congress Approves Bailout

By: charles austin

charles austin — Sat, 04 Oct 2008 14:27:26 +0000

Steve, FWIW as my company's 401-1(k) Plan Administrator I sat through a webinar Thursday with our provider. Generally they are doing what they can to dampen fears about volatility, but they did have (perhaps inadvertently) some scary looking charts on credit ratios. My initial thoughts were that it was looking like a liquidity crisis was developing rapidly.

So, I reluctantly believe something had to be done, but my utter disgust and disdain for Congress and its need to lard it up remains unabated.

By: Steve Verdon

Steve Verdon — Fri, 03 Oct 2008 22:37:45 +0000

And when it doesn't work Beldar? Seriously, that $700 billion number was pulled out of someone's ass, not the result of serious analysis. In the end you'll likely have two shit sandwiches...enjoy. Oh, and another reason why democracy sucks. Even when you know something is a crap sandwich your elected officials make you eat it anyways. Lovely.

By: Beldar

Beldar — Fri, 03 Oct 2008 22:08:28 +0000

Nothing which was not a crap sandwich would ever have gotten a floor vote in Speaker Pelosi's House. It's well and good to talk about what kind of bill you'd rather have seen, but that was never going to happen. Ever. Period. That's just the political reality. This or nothing? I'll take this, reluctantly.

By: anjin-san

anjin-san — Fri, 03 Oct 2008 21:33:29 +0000

Guess McCain can resume his campaign now...

By: charles austin

charles austin — Fri, 03 Oct 2008 20:27:16 +0000

Buy on rumor, sell on news.

The Bailout was so goddamned important that it had to have 15.7% added to it in pork to get it to pass.

Nice country we had.

By: Web Smith

Web Smith — Fri, 03 Oct 2008 19:33:53 +0000

How does it feel to be owned?

Did everyone notice the media spin and blackout leading up to this vote? The media reported that more people were now favoring the bill when 90% of the calls were from people still opposing it.

Bush and crew have now completed their theft of the country's wealth. The elite are going to be chuckling and shaking their heads at the squalor they have created while Bush retires on the property that he bought in Nicaragua complete with Secret Service to protect him.

The people who own the Fed are now angry at the American population and they will raise interest rates in an attempt to beat us into submission.

There are 263 Congress members and 74 Senators that should not be returning to office and the President should not be selected from the major parties.

http://ewebsmith.com/finance/CPResponse.html

By: Wayne

Wayne — Fri, 03 Oct 2008 18:59:00 +0000

The Stock market had a sharp decline soon after the bill pass.

By: Patrick T. McGuire

Patrick T. McGuire — Fri, 03 Oct 2008 18:56:53 +0000

It seems that, this time at least, the Senate was the cup and the House the saucer.

Or they are both a toilet, depending on your view.