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Ouch. House Fails to pass Bailout. Markets Drop

Submitted Monday, September 29, 2008 by adam | Category: Business
The fate of the Bush administration's $700 billion financial bailout plan was abruptly thrown in doubt Monday as a House vote turned against the controversial measure.The NASDAQ dropped 6% and is still going. This could be a bad day all around.
  
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5 Comments
by Disco Stu at 9/29/2008 1:05:57 PM Score 0  Cool Weak
Dumb Question . . .

If you KNOW the thing ain't gonna pass worth a snowballs chance in Hell, why even HAVE a vote and fuck the markets?

Wouldn't it have been smarter to simply WAIT to vote till the consensus was looking at least good? We're not talking about losing by a hair, we're talking like 25% shy of making it . . .

C'mon now!
Disco
by jrsteele at 9/29/2008 1:19:59 PM Score 0  Cool Weak
What do you mean? This is exactly what they wanted and needed and horrible day in the markets to show how important this robbery is and to show that it must take place "yesterday". C'mon people... give up your authority and power to da Paulson!
by diner at 9/29/2008 1:42:59 PM Score 0  Cool Weak
And the best comedy of all today . . .

It passed nearly 100% with the house Democrats and only 50% of the house Republicans . . .

Talk about shitting on your own guy . . . Bunch of assholes . . . There, I said it!

Republicans are assholes! I hate them all!

Dear Republicans, Kindly enjoy your BagOfDicks and eat them well!

:D
by akay at 9/29/2008 2:35:19 PM Score 0  Cool Weak
Sorry Stu, you must be getting your news from a Republican source making the Dems sound worse than they really were and the them not quite as bad.. assuming you didn't want the bailout to happen.

Quoting the AP:
More than two-thirds of Republicans and 40 percent of Democrats opposed the bill. In all, 95 Republicans joined 140 Democrats in voting "yes," while 133 Republicans and 65 Democrats voted "no."

The stories I've been reading set this up as Bush dictating from the grave. Whomever the next prez is inherits a bankrupt government and gets the blame for raising taxes somewhere to cover this mess up. Whether the tax hits the common man or just the investor (ie securities turnover excise tax) is still to be decided. Note that the securities turnover excise tax was used to fund WWI, WWII, the Civil War, and the Spanish-American War.
by diner at 9/29/2008 4:54:54 PM Score 0  Cool Weak
www.drudgereport.com

I shouldda known . . .

:D

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