Massive financial bailout fails in the House

Bailout Rejected

www.msnbc.msn.com

WASHINGTON - The House of Representatives rejected a $700 billion bailout today following extended debate where many members, including some who brokered the deal with it, was highly unpopular.

(visit the link for the full news article)



[edit on 22/06/2008 by Truther]

Mod Edit: Fixed Caps in title and changed title

[edit on 9/29/08 by FredT]

[edit on 9/29/08 by FredT]

where are we now? dont know much about economics. Does this mean that america is in serious trouble?

"WASHINGTON - The House of Representatives rejected a $700 billion bailout today following extended debate where many members, including some who brokered the deal with it, was highly unpopular."

www.msnbc.msn.com
(visit the link for the full news article)

Hang onto your 401K here we go

Last time I looked the Dow was down 500+ points

Wow I thought for SURE the government would pass this with ease. I guess a little bit of America still exists out there. This failure to pass really gives me hope. Suffer just like the rest of us take your hits when you lose and live it up when you make your gains.

I knew this would have trouble in the house, they haven't closed the voting process yet, they are trying to get people to switch.

I am voting for the party that voted the most no the hell for party affiliations.

I am very happy that some politicians still have the American people at hart.

Relect the ones who voted NO

Throw out the ones who voted yes.

I' watching c-span right now, and it looks like the final count is 207 yea 226 nay.
The bill in its current form is dead, with two thirds of republicans voting against it.




[edit on 9/29/2008 by schrodingers dog]

Apparently this isn't yet a done deal as they can now negotiate, discuss and change their votes for a certain period of time.

Voting now stands at 226 Nay and 207 Yea.

Someone speaking on Sky News just said we'll now see which banks were bluffing.

The Republicans have my sympathies and my gratitude and if this is not a political ploy, they may even got my vote.

As of now the vote is still open and members are allowed to change their vote. When all the votes were casted first it was 205 YEA to 228 NAY.

Now it is 207 YEA to 226 NAY with one vote not casted. Their is a lot of arm twisting going around now trying to persuade thos who voted against it to switch or at least hold their vote.

Democracy at its finest!

I called my Mitch McConnells office, and Jim Bunnings offices earlier.

Now I am going to make my phone calls to Obama and McCain.

McCain number:202-224-2235

Obama's number202) 224-2854

CNN says the Senate votes Wednesday or Thursday.

It APPEARS more than a few Representatives listened to their constituents.

Off to find out how mine voted.

reply to post by marg6043


I'm not so much sure it is them having america at heart as it is risking political suicide and an uprising of proportions that even their draconian police state measures might have to contend with...This isn't over yet, but the sleepwalking populace is now awakening on a large scale to this endless pickpocketing, and is having no choice but to get pissed about it to a point that these smug elitists can no longer plug their ears and yell "la-la-la" to make it go away.

reply to post by marg6043


You could be on to something there, could this be a ploy? lets all vote no (repuplicans) and we'll get the vote for president..

I wonder

reply to post by marg6043



Marg,

Im sure you KNOW how I feel about this bailout. I think it SUCKED.

However, I think we should ALL hold onto our hats now, because this mess just got a lot worse. I think our markets are going to react SO negatively, that irrespective of the ABSOLUTE upside to the taxpayer not footing the bill, those actually WITH all the money are going to say "ok screw you little America, you wanted failure, we'll SHOW you failure".

I NEVER EVER get scared or panic, it's not in my nature, however if anything would have the ability to do so, it IS what we're witnessing right now.

I firmly believe that our ONLY saving grace would come in the form of a complete and total Government subsidy to us, the little people to get back on OUR feet, and SCREW the globe, SCREW the wall streeters, and let US have those funds to hedge against THEIR misappropriations. Lacking that, I think we are SERIOUSLY about to see Great Depression part II, and this time, there's a WHOLE lot more people that will be affected.


AB1

The problem is that if the Republicans are so smug to vote nay they are not very much worry about what is happening to the markets.

That is why I am no worry either.

[edit on 29-9-2008 by marg6043]

That is why, we need to be very careful, this bill may be a ploy, but they can make it drag until after elections.

This is going to be very interesting.

IT HAS OFFICIALLY FAILED!

They have moved on to other legislation.

Let see with what they would come back now.

Does anyone knows how can I check who voted and what way?.

[edit on 29-9-2008 by Bunch]

[edit on 29-9-2008 by Bunch]

And there go the markets.
Dow back down to -450.

Well, now you have 226 people to watch very carefully...

Seriously now, good to hear. But keep an eye at what the FED is doing in the meantime. What happened today was good for democracy and gives people hope... but I think the dollar is still in its death throws. And it was murder.

There's just too much debt in the system. Address the debt to save the currency, leave the banks with it, they were the ones that conjured it up into existance anyways.