Rolling US Economy Into The Shitbin Thread

Pelosi won't be the big story if this keeps up (S&P 500 down almost 8% today, e.g.).

Unless people blame Congress for failing to act

which they won't

right.

Isn't there a do-over on the vote later anyway?

As if a last minute speech - by anyone - is gonna change a lot of minds anyway. It's a bogus accusation.

of course it is. It's SOP for the GOP.

Pelosi didn't need to open her speech by laying a turd but she just couldn't resist. Dumbass.

i'm sure you said the same about Newt back in the day, Don

you're not allowed to point out that something is one party's fault!

politics are ok... if you're a Republican

I think that the plan is deeply unpopular with most voters. If it passes, it's a case of elected representatives forcing the people who elected them to swallow their medicine, on the theory that the representatives know better. That's a dicey proposition if your seat is vulnerable.

thx for the link deej, i was having trouble sorting this thing ideologically. maybe it isn't, so much. xps

from the paul site:

Tony F Says:

September 29th, 2008 at 3:45 pm
HELL YEAH ! My rep BILIRAKIS voted NO! I just sent a fax to his office thanking him and letting him know that I appreciate his vote and I will tell all my neighbors what he did for us. (You think we could get CANNABIS legalized like this?)

seriously hav u read the speech. its take your medicine but in no fing way egregious.

i'm sure you said the same about Newt back in the day, Don

err, Google dat but I'm pretty sure I didn't. Although maybe I did, but probably back in 94. I never liked him much.

I think it's fine to play hardball--where's Rahm when you need him? I just don't see why she'd give the GOP any cover whatsoever. Unless she didn't care if the bill passed or not.

"I think that the plan is deeply unpopular with most voters."

It should be. Most people think the plan sucks.

Roubini hates it, which is enough for me at this point.

That's cool and all, the We The People thing. But now what?

Posted by: jsb at September 29, 2008 03:17 PM

More negotiations, more safeguards for the taxpayers, disbanding Freddie Mac and Fannie Mae, telling banks that if they lend, they have to lend responsibly and that Uncle Same will not bail them out, incentive for government and Wall Street to never do it again, etc., etc. The Senate votes Wednesday so we still have a couple of days.

Posted by: George L. Moneo at September 29, 2008 03:24 PM

Is it really wrong for me to hope everything completely dies tomorrow?

I live in Western North Carolina, weird mix of extremes at on both sides. My House Rep is a Dem; my Senators are Republicans. I called all three today. Senator Elizabeth Dole's people told me they were taking a phone poll today, and that it was 91-0 against the bill.

That said I'm not sure most people are aware enough of the details (I can say for certain I'm not) to care one way or another. Apparently its popularity is varying wildly based on the way poll questions are asked.

rescue yay! bailout boo!

(You think we could get CANNABIS legalized like this?)

here's how to rebuild the economy

what dandy don said

Alex, sorry for the confusion. This wasn't a true poll. It was merely them keeping track of the morning phone calls on this topic.

I have to say that I am already pretty sick of hearing about "Main Street"

main street around here is basically where skid row starts

Is it really wrong for me to hope everything completely dies tomorrow?

nope, sadly your are wildly otm

or however one spells "you"

Kudlow despairs:

A number of Republican House members and staff, along with others who are plugged in, are telling me that Nancy Pelosi and the Democrats will come back with a new bill that includes all the left-wing stuff that was scrubbed from the bill that was defeated today in the House.

As this scenario goes, the House Democrats need 218 votes, and they have to pick up a number of black and Hispanic House members who jumped ship because the Wall Street provisions, in their view, were too benign. So things like the bankruptcy judges setting mortgage terms and rates, the ACORN slush-fund spending, the union proxy for corporate boards, stricter limits on executive compensation, and much larger equity ownership of selling banks through warrants will all find itself back in the new bill. Of course, this scenario will lose more Republican votes. But insiders tell me President Bush will take Secretary Paulson’s advice and sign that kind of legislation.

I'm glad they're blaming 'socialism' because right now the only reason we don't have a free national health care plan like every other country in the world is that it's 'socialist'. So at least they aren't hypocritical. They wanting neither bailouts for greedy, wealthy opportunists nor doctors for poor, sick people.

i think it's clear that, as people originally suspected of McCain, Boehner was playing fast and loose with his votes here and basically lied to Pelosi

so stfu about what kind of speech you'd like the little lady to give

so basically is it a good thing that i'm back in school for the next four years, training for a job that will always be useful?

or should i be terrified about the debt i'm accruing? most of the details of the crisis are above my pay grade \(°_o)/

i ditching law to sell apples

mortuary science? (xxpost)

so stfu about what kind of speech you'd like the little lady to give

easy, tiger. Your little lady can defend herself just fine without you puffing your chest.

You should be ok. In 2012 we will all vote on a public bill that forgives every American citizen of his or her debts, it'll be swell.

this would make for a cracking good 3-4 episode west wing story arc

looks like the 'Murrican ppl agree w/ Nader after all, huh huh huh

Waiiit a moment, you live in the U.S., right?

Sen. John McCain (R-Ariz.) and his top aides took credit for building a winning bailout coalition – hours before the vote failed and stocks tanked.

The rush to claim he had engineered a victory now looks like a strategic blunder that will prolong the McCain’s campaign’s difficulty in finding a winning message on the economy.

Shortly before the vote, McCain had bragged about his involvement and mocked Sen. Barack Obama for staying on the sidelines.

“I've never been afraid of stepping in to solve problems for the American people, and I'm not going to stop now,” McCain told a rally in Columbus, Ohio. “Sen. Obama took a very different approach to the crisis our country faced. At first he didn't want to get involved. Then he was monitoring the situation.”

McCain, grinning, flashed a sarcastic thumbs up.

http://dyn.politico.com/printstory.cfm?uuid=AF9F10EC-18FE-70B2-A82949C5A24271A8

yay! mission accomplished!

Let's keep in mind that "Main Street" was directly incenting the banks in all this. Whoever blinked first was going to see their shares dumped. Fuck just blaming Wall Street - Wichita is just as culpable.

"We had to destroy that village to save it. From socialism!"

I'd gather most people agree with Nader, but people are too lazy to take action to work for society on any level other than -maybe- sometimes getting off the couch to vote once every four years for the president. IT'S UP TO US PEOPLE. LET'S TAKE 2 THE STR33TS. first we'll take whole foods, then the G8 summit. i need some vegan burtos man

Morb's America is sort of like the Kingdom of the Now and Not Yet.

If the bailout passes and it doesn't help, congress will be blamed for passing it.
If the bailout passes and it helps, congress will still be blamed for passing it.
If the bailout doesn't pass and things go to shit, congress will be blamed for not passing it.
But if the bailout doesn't pass and things don't go to shit, only then will congress actually receive any credit for not passing it.

But if the bailout doesn't pass and things don't go to shit, only then will congress actually receive any credit for not passing it.

that is why we have checks and balances and a two-house legislature!

I mean congress' ultimate goal should always be to retard the executive branch, and vice versa, this is a nation founded on fairly conservative principles that unilateral govt action is bad news

Their inaction this past week has allowed the market to finally incorporate known problems into market valuation. the worse the dow dives the better off we are for the long run IMO

If the scarier claims floating around aren't actually true, then I agree.