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And the entire country discovers the meaning of "learned helplessness".
and god helping, 263 democrats and republicans will soon be out of a job.
Why does my ass hurt all of a sudden?
So now we'll have a recession instead of an all out depression? Wait, we've been in a recession for the past several months, haven't we? Well, I've been in a recession.
Damn. I was hoping to see the entire economy finally collapse. Oh well. My tax dollars will be paying this off for the rest of my life, even though I'll never be able to get a house.
Now watch as nothing improves and somehow no one cares because "we did what we could".
This really makes me sad. I guess the only positive is the dow went up 147 the last i checked it.
Can anyone explain the Dow drop that happened right after? I thought they *wanted* this thing.
I wonder if mccain will call for bush to veto it or just wait til he signs it and then lamabast him and say "i would have vetoed it(even though I voted for it)."
Great. Banks that conned wall street in to buying loans that the banks knew would not be repaid just conned er bought out congress too.
They had them tell america that now was not the time to look at who is at fault... Because they were at fault. They just needed the cash right away... So what did they do? They enabled them with a cash bailout. It's along the same line as giving a heroin addict a blank check.
Now taxpayers and future generations get to pay for the scam too.
Gas is going to shoot up like crazy due to this inflation. Our economy needs deflation more than anything and they passed a bill that directly causes a crap load of inflation.
Ya know, Mr. Greenspan used to say you shouldn't make policy based on the markets response. So Whiskey Tango Foxtrot?!?!
@PixiePerson: People bet against the bailout passing. I would think it would come back today. We'll see.
We have to stop governing by Dow. The Stock Market is not the economy.
Does this mean I don't have to pay back my mortgage?
@El Gato en mis Pantalones: least us forget just about everyone on wallstreet wanted him gone for this VERY reason.
This isnt the last we have seen of the ass-raping of the American economy and people....
If Greenspan was still in his position, this wouldn't have ever happened. He was the ideal Fed chairman. You had analysts pouring over how often he blinked in his addresses to try and glean what the fed would do.
Current guy - "We've lost all control."
anybody holding a "bailout party"?
mmmmm . . .pork.
Guess it worked! Who said politicians weren't easily persuaded by a little bonus?
My arrow company, and Puerto Rican rum stock have gone through the roof today!
@moore850: Not only that, but the politicians will say "See things didn't get any worse!... we were right!"
Anyone have the rolecall handy?
Woe be unto us all.
Everyone please prepare for the final stages and send you representative a photo of yourself in the traditional Goatce position with you affidavit of readiness.
@mdoublej: Believe me, by the time this is over, that rum stock will be worth a bazillion fufillion dollars. I plan on consuming plenty of it while I weep alone tonight.
US Government.
Epic Fail.
SO disappointed.
Really? Greenspan is not to blame too? Im pretty sure he ran the Fed for the entire run-up to this.
Personally I think this was done poorly, but its not gonna cost the taxpayer shit in the long run. My guess is we (the people) actually make a profit on this thing. But what do I know, I just have degrees in history and business and remember what happened the last time congress bought bad assets.
@shoelace414: You're absolutely correct. I keep telling people that too. Furthermore, to expand on your definition, not only is the market not the economy, but a single index isn't the market.
After the pork passed the thieves and liars actually CHEERED! Bush cam on and said "People did not believe the US government could not rise to the occasion" and those people were obviously right, Mr. president, the government in fact did NOT rise to the occasion, and bowed to the special interest groups. I plan on running against each and every federal represantitive that represents me in the next election. Long live the Socialist States of America!
What really, really freaks me out is that this whole mess wasn't even remotely solved by this bill. It will fall squarely on the next president... and both candidates are shit.
God, this SUCKS
I've got two coworkers trying to sell their homes. They both told me, "I know this is bad for the country but I hope this helps me sell my house." I actually had to tell both of them, "I can't talk to you right now, please go away."
what a load of crap. amazing how many of our "representatives" would completely ignore the strong outcries of their constituents just to get their little pet projects in.
Maybe I can get a job making those Wooden Arrows ?
Well if you have kids this is the time to try to explained what we're fucked means!
Oh joy! I bet the crap from that song about parrots in pear trees will cost a lot more around this time next year. Hell, it may shoot up dramatically by the end of this year!
Especially the maids a'milkin... with the price of milk where it is right now, those gals are making money hand of ... well... utter.
@smirky: Agreed. I actually already feel a bit poorer. Probably psychosomatic, but my wallet already feels lighter.
Dammit, BMW was offering 0.9% financing on their M3 sedan, and I was just about to bite. Now that Wall Street's been bailed out they'll probably jump back to 5% financing or something insane like that.
Thanks for screwing me yet again, government!
Vote against any senator or representative who voted for this giant taxpayer screwing.
@BeeBoo: That's a bad way to go about it.
[www.newsweek.com]
Yes, it sucks that our Congressmen voted for the bill, but no matter how you look at it, we're screwed! No easy answers! All could have been prevented in the last generation!
Failout?