New Bailout Package Passes (in the Senate)

#3
#3
I know everytime I face a serious problem I write a 450 page book to solve it. These people disgust me.
 
#5
#5
8690101_1e0e978b34.jpg
 
#7
#7
Anybody know the skinny on if the House is expected to pass this?
 
#8
#8
rjd970 said:
Anybody know the skinny on if the House is expected to pass this?
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hopefully they'll can this and all the earmark garbage will die with it. The tax cuts are garbage as is al the extraneous trash that they couldn't otherwise pass without this emergency.
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#9
#9
rjd970 said:
Anybody know the skinny on if the House is expected to pass this?
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Like I said . . . it's far from over.

The word now is that on top of the other problems, the Senate version has some tax cuts that the "blue dog" Democrats , who voted for the House version, may not want to support.
 
#10
#10
BigPapaVol said:
hopefully they'll can this and all the earmark garbage will die with it. The tax cuts are garbage as is al the extraneous trash that they couldn't otherwise pass without this emergency.
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We actually agree on something...wow.
 
#11
#11
It started with 3 pages, ballooned to 120 or so and now we are at 450. Wait until the House gets done with it. I asked my Rep for a new car and I think he's trying to work it in.

What an F'ng disaster.
 
#12
#12
volinbham said:
It started with 3 pages, ballooned to 120 or so and now we are at 450. Wait until the House gets done with it. I asked my Rep for a new car and I think he's trying to work it in.

What an F'ng disaster.
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No sh*t.

They had to "sweeten" the deal is the headline I have seen to get it to pass in the House. If these things they have added are so "sweet" then why are they just now being done, is what I would ask. If they are so "sweet" why are they not things that were passed long ago. Why does it take getting on the back of some emergency crisis bill to get these "sweet" things done. Goodness Obama has to love this. This country is being turned in his direction before he ever steps into office.
 
#13
#13
where do we get the money for this? will the gov't not have to borrow some and print the rest? will this not cause the value of the dollar to drop? will that not in turn cause inflation? will the feds not have to raise interest rates to fight inflation? what then happens to the people barely hanging on in the current mortgages? will we not just repeat this whole cycle? i am no economist by any means, just my own thoughts on the future. this is nothing more than politicians trying to vote on something before elections! disgusting!
 
#14
#14
onlyut4me said:
where do we get the money for this? will the gov't not have to borrow some and print the rest? will this not cause the value of the dollar to drop? will that not in turn cause inflation? will the feds not have to raise interest rates to fight inflation? what then happens to the people barely hanging on in the current mortgages? will we not just repeat this whole cycle? i am no economist by any means, just my own thoughts on the future. this is nothing more than politicians trying to vote on something before elections! disgusting!
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You do know that most people who voted AGAINST the bailout bill were congressmen in tight election districts/states.
 
#15
#15
allvol123 said:
No sh*t.

They had to "sweeten" the deal is the headline I have seen to get it to pass in the House. If these things they have added are so "sweet" then why are they just now being done, is what I would ask. If they are so "sweet" why are they not things that were passed long ago. Why does it take getting on the back of some emergency crisis bill to get these "sweet" things done. Goodness Obama has to love this. This country is being turned in his direction before he ever steps into office.
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Let me guess, socialism.
 
#16
#16
GAVol said:
Like I said . . . it's far from over.

The word now is that on top of the other problems, the Senate version has some tax cuts that the "blue dog" Democrats , who voted for the House version, may not want to support.
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Ahh yes, the Blue Dogs, my political affiliation, and one of the only coalitions that can reach across the aisle.
 
#17
#17
nickknx865 said:
Ahh yes, the Blue Dogs, my political affiliation, and one of the only coalitions that can reach across the aisle.
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it's too bad that most of them are scared sh**less of Pelosi and would rather vote with her 99% of the time.
 
#20
#20
onlyut4me said:
where do we get the money for this? will the gov't not have to borrow some and print the rest? will this not cause the value of the dollar to drop? will that not in turn cause inflation? will the feds not have to raise interest rates to fight inflation? what then happens to the people barely hanging on in the current mortgages? will we not just repeat this whole cycle? i am no economist by any means, just my own thoughts on the future. this is nothing more than politicians trying to vote on something before elections! disgusting!
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We get it by issuing Treasury Bonds... aka the most secure investment in the world... Something that every fund manager/soverign wealth fund/grandma are fighting tooth and nail to get. Flight to safety. We sell something that everyone wants (T bonds) and buy something that nobody wants (MBS). Its the classic buy low, sell high move.
 
#21
#21
But by issuing T-bonds, the government is borrowing money from somewhere. That in and of itself sucks up capital. TANSTAAFL
 
#24
#24
I find the pork projects and earmarks disgusting, as well. There are things in there sought by members of both parties so you can't blame one or the other. But it is more than a little disappointing that Senators, instead of voting the proposal up or down, had to go in to the bill and basically pay off those members of the House who threatened to withhold their votes unless they got their pet project.

The Senate was basically blackmailed into that position by the House and both the President and the leaders of both parties are having to cave in and allow small groups of House members to hold them up for these projects.

I hope that when this is over someone publishes a well researched report on which members of Congress demanded that thier little project get in there so that they would vote for it. That would tell you who really abused this process for their own ends.
 
#25
#25
lawgator1 said:
I hope that when this is over someone publishes a well researched report on which members of Congress demanded that thier little project get in there so that they would vote for it. That would tell you who really abused this process for their own ends.
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I couldn't agree more. It's times like this when Congressional term limits seem like an excellent idea.
 
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