U.S House REJECTS 700 billion Bailout

[Random Walk]

14:10 CNBC reporter says he got a message from a Senior leadership member on the Democratic side who said there is no chance in passing this bill now


14:11 US House rejects financial rescue bill, major averages fall back down to session lows... Dow -578, S&P -81, Naz -154

A dark day in U.S history. One could only image the consequences from here and on.
I note that the majority of those who rejected the bailout were republicans.

[Random Walk]

"14:23 Leadership plans second attempt to pass bill - NY Times "

:)

[Random Walk]

2:51 Bush to meet White House economic advisors: spokesman

2:51 White House unsure of next steps: spokesman

[statajack]

Not looking good. Just had a news flash on British news.

[Voobrazheniye]

While I applaud House Republicans for showing cajones with regard to the government spending so much of the people's money, where were those same Republicans - and the rest of the Congress and administration - as these problems were developing over the past years?

Standing on the "less government," fiscal responsibility principle is laudable... I just wish they would have truly practiced it for the past eight years - especially when they had all the majorities. Perhaps if Republicans had behaved the way we have been led to believe Republicans SHOULD behave, and been more vigilant about the people's money, the United States (and much of the world) would not be in this fix.

It is interesting to note, however, that although 133 of the 199 House Republicans (66 percent) rejected the bill, 95 of the 235 House Democrats (40 percent) also rejected it. Considering that the Demcratic leadership in the House was so determind to pass this bill, it is noteworthy that they could not get 40 percent of their own party to support it. Thus, the blame does not fall only on Republicans.

Perhaps it's just a bad bill... even if the need is there.

I also read that, although this had been billed as a bipartisan effort to avert a crisis, what ultimately made many House Republicans decide NOT to support the bill was a wildly partisan speech by House Speaker Nancy Pelosi, in which rather than enourage the bipartsan teamwork to make this happen, she could not resist the urge to just attack Republicans in the most shrill and partisan manner possible. Several Republican members said that Pelosi practically killed the bill herself.

Perhaps this can provide one of those rare historical moments for the government to be truly reformed. Throw out Democrats AND Republicans... replace them with Libertarians, Greens, Independents... ANYONE ELSE but the thieves who have been in the Congress these past years.

Ron Paul for president!!

[fbibob]

were those same Republicans - and the rest of the Congress and administration - as these problems were developing over the past years?

I have heard that on 4 different occasions McCain or other Republicans tried to change the Fannie and Freddie rules to avert a melt down. But Democrats blocked it.

A prophet is without honor in his own country.

[bobbyd]

over 650,000 jobs have disappeared over the last 7 months in the U.S. The trickle down affect of this bill not being passed will double that in the next 3 months. (heard this from Anderson Cooper on Friday night)

[fbibob]

over 650,000 jobs have disappeared over the last 7 months in the U.S. The trickle down affect of this bill not being passed will double that in the next 3 months. (heard this from Anderson Cooper on Friday night)

There is a strong belief among many Americans that it is better to have a recession than to hand control of so much of American capitalism to the fools that screwed up the job already.

[RiverRock]

World opinion is interesting. When Bush says we need to invade Iraq because of WMD everyone says NO. But when Bush says he needs to steal 700 billion dollars from American people to put a temporary band aid on our economy by blowing it on worthless assets, The world is all for that and says LISTEN to Bush.

I think it is a bright day in U.S. history. If only the rejection of it was Final.

Congressman Ron Paul: (Sept. 29, 2008) The process of this bailout reminds me of a panic-stricken swimmer thrashing in the water only making his situation worse. Even a “bipartisan deal”—whatever that is supposed to mean— will not stop the Congress from thrashing about.

The beneficiaries of the corrupt monetary system of the last three decades are now desperately looking for victims to stick with the bill after they have reaped decades of profit and privilege.

The difficulties in our economy will continue because the Legislative and the Executive branches have not yet begun to address the real problems. The housing bubble’s collapse, as was the Dot Com bubble’s collapse, was predictable and is merely a symptom of the monetary system that brought us to this point.

Indeed, we do face a major crisis but it is much bigger than the freezing up of Wall Street and dealing with worthless assets on the books of major banks. The true crisis is the pending collapse of the fiat dollar system that emerged after the breakdown of the Bretton Woods agreement in 1971.

For 37 years the world built a financial system based on the dollar as the reserve currency of the world in an attempt to make the dollar serve as the new standard of value. However since 1971, the dollar has had no intrinsic value, as it is not tied to gold. The dollar is simply a fiat currency, which has fluctuated in value on a daily, if not hourly, bias. This worked to some degree until the market realized that too much debt and malinvestment existed and a correction was required.

Because of our economic and military strength, compared to other countries, trust in America’s currency lasted longer than deserved. This resulted in the biggest worldwide economic distortion in all of history. The problem is much bigger than the fears of a temporary decline on Wall Street if the bailout is not agreed to.

Money’s most important function is to serve as a means of exchange—a measurement of value. If this crucial yardstick is not stable, it becomes impossible for investors, entrepreneurs, savers, and consumers to make correct decisions; these mistakes create the bubble that must eventually be corrected.

Just imagine the results if a construction company was forced to use a yardstick whose measures changed daily to construct a skyscraper. The result would be a very unstable and dangerous building. No doubt the construction company would try to cover up their fundamental problem with patchwork repairs, but no amount of patchwork can fix a building with an unstable inner structure. Eventually, the skyscraper will collapse, forcing the construction company to rebuild—hopefully this time with a stable yardstick. This 700 billion package is more patchwork repair and will prove to be money down a rat hole and will only make the dollar crisis that much worse.

But what politicians are willing to say that the financial “skyscraper”—the global financial and monetary system-is a house of cards. It is not going to happen at this juncture. They’re not even talking about this. They talk only of bailouts, more monetary inflation, more special interest spending, more debt, and more regulations. There is almost no talk of the relationship of the Community Reinvestment Act, HUD, and government assisted loans to the housing bubble. And there is no talk of the oversight that is desperately needed for the Federal Reserve, the Exchange Stabilization Fund, and all the activities of the President’s Working Group on financial markets. When these actions are taken we will at last know that Congress is serious about the reforms that are really needed.

In conclusion, there are three good reasons why Congress should reject this legislation:

a. It is immoral—Dumping bad debt on the innocent taxpayers is an act of theft and is wrong.

b. It is unconstitutional—There is no constitutional authority to use government power to serve special interests.

c. It is bad economic policy—By refusing to address the monetary system while continuing to place the burdens of the bailout on the dollar, we can be certain that in time, we will be faced with another, more severe crisis when the market figures out that there is no magic government bailout or regulation that can make a fraudulent monetary system work.

Monetary reform will eventually come, but, unfortunately, Congress’ actions this week make it more likely the reform will come under dire circumstances, such as the midst of a worldwide collapse of the dollar. The question then will be how much of our liberties will be sacrificed in the process. Just remember what we lost in the aftermath of 9-11.

The best result we can hope for is that the economic necessity of getting our fiscal house in order will, at last, force us to give up our world empire. Without the empire we can then concentrate on rebuilding the Republic.

[bobbyd]

There is a strong belief among many Americans that it is better to have a recession than to hand control of so much of American capitalism to the fools that screwed up the job already.

history always repeats itself...better to avoid a serious recession and pass the bill. imo

[huney]

While I applaud House Republicans for showing cajones with regard to the government spending so much of the people's money, where were those same Republicans - and the rest of the Congress and administration - as these problems were developing over the past years?

Standing on the "less government," fiscal responsibility principle is laudable... I just wish they would have truly practiced it for the past eight years - especially when they had all the majorities. Perhaps if Republicans had behaved the way we have been led to believe Republicans SHOULD behave, and been more vigilant about the people's money, the United States (and much of the world) would not be in this fix.

It is interesting to note, however, that although 133 of the 199 House Republicans (66 percent) rejected the bill, 95 of the 235 House Democrats (40 percent) also rejected it. Considering that the Demcratic leadership in the House was so determind to pass this bill, it is noteworthy that they could not get 40 percent of their own party to support it. Thus, the blame does not fall only on Republicans.

Perhaps it's just a bad bill... even if the need is there.

I also read that, although this had been billed as a bipartisan effort to avert a crisis, what ultimately made many House Republicans decide NOT to support the bill was a wildly partisan speech by House Speaker Nancy Pelosi, in which rather than enourage the bipartsan teamwork to make this happen, she could not resist the urge to just attack Republicans in the most shrill and partisan manner possible. Several Republican members said that Pelosi practically killed the bill herself.

Perhaps this can provide one of those rare historical moments for the government to be truly reformed. Throw out Democrats AND Republicans... replace them with Libertarians, Greens, Independents... ANYONE ELSE but the thieves who have been in the Congress these past years.

Ron Paul for president!!

OOOOORRAHHHH!!!

Could not have said better myself. Bite the bullet, take your medicine, throw the bastards out, and get on down the road (I seem to have run out of cliches...)

[fbibob]

OOOOORRAHHHH!!!

Could not have said better myself. Bite the bullet, take your medicine, throw the bastards out, and get on down the road (I seem to have run out of cliches...)

How about 'sue the bastards'?

[huney]

Oh! I thought of some more...

Let's tar and feather 'em, ride 'em out on a rail, and string 'em up. (Is it possible to do all those things to one person?)

Of course there is also, "Let cooler heads prevail".

Seriously, this is about as bad as it could be but long overdue. We have been living on borrowed time and money for far too long.

One more cliche - "It's time to pay the piper". IMO, the sooner we pay him the less it will hurt.

[kentuckydan]

I have heard that on 4 different occasions McCain or other Republicans tried to change the Fannie and Freddie rules to avert a melt down. But Democrats blocked it.

A prophet is without honor in his own country.


What Crisis? There's no Crisis looming the mean spirited Republicans just
want to scare people, because they don't want lower income familes being
able to afford to own their own home

_MGT_cSi7Rs

[RiverRock]

WTH. Isn't that video racist? All the people it showed that were wrong, corrupt, and stupid were black and/or democrat, and all the people it showed that finally were proven to be right were white and/or republican.

:becky:

[Voobrazheniye]

Barney Frank should be fed to crocodiles.

[Lucker]

From over here , there are many who think -- as I do -- that your country has today acted stupidly and without responsibilty .
Unless you begin to see the damage you are inflicting on the system , I fear that the long term restructuring of all pertaining matters will ensure that the US takes a lesser multi national role .
You now seem hell bent on self fulfilling the predictions that the era of US pre-eminence is over .
You could end up very second fiddle to China and Asia who will achieve the best of bad times by mobilising all resources to the defense of the model or system .
This is a time when individual needs are irrelevant .
Your so called partisan arguments are pathetic --- an orchestra of fiddlers while Wall Street really starts to burn .
You have four days to behave responsibly or there will be a crash like 1929 or worse .

[saprosky]

Not only here. Check CNN poll results about rejection. Very interesting to see how people thinks opposite to politics even when they catch his money.

[huney]

From over here , there are many who think -- as I do -- that your country has today acted stupidly and without responsibilty .
Unless you begin to see the damage you are inflicting on the system , I fear that the long term restructuring of all pertaining matters will ensure that the US takes a lesser multi national role .
You now seem hell bent on self fulfilling the predictions that the era of US pre-eminence is over .
You could end up very second fiddle to China and Asia who will achieve the best of bad times by mobilising all resources to the defense of the model or system .
This is a time when individual needs are irrelevant .
Your so called partisan arguments are pathetic --- an orchestra of fiddlers while Wall Street really starts to burn .
You have four days to behave responsibly or there will be a crash like 1929 or worse .

Roman, today's action, or should I say inaction, was neither unexpected nor, from the point of view of the Congressmen, irresponsible. The BBC calls our House of Representatives "the Lower House" for a reason. The members of the House consider themselves as closer to "the People", and as such rightly felt themselves compelled to go on record as reflecting the opinions of their constituents, at least those that bothered to write them, before doing "The Right Thing". This is an election year and they are nearly as fearful for their jobs are the rest of us.

The bill will be resubmitted and passed "under protest" in an effort to shield as many skirts as possible from the fallout.

[slkasop]

Forget politics for a moment, and read about the 545 people that direct our lives.





545 PEOPLE

By Charlie Reese

Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits?

Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?

You and I don't propose a federal budget. The president does.

You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.

You and I don't write the tax code, Congress does.

You and I don't set fiscal policy, Congress does.

You and I don't control monetary policy, the Federal Reserve Bank does.

One hundred senators, 435 congressmen, one president, and nine Supreme Court justices 545 human beings out of the 300 million are directly,legally, morally, and individually responsible for the domestic problems that plague this country.

I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.

I excluded all the special interests and lobbyists for a sound reason.
They have no legal authority. They have no ability to coerce a senator, a congressman, or a president to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash.
The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.

Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.

What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The president can only propose a budget. He cannot force the Congress to accept it.

The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? She is the leader of the majority party. She and fellow House members, not the president, can approve any budget they want. If the president vetoes it, they can pass it over his veto if they agree to.

It seems inconceivable to me that a nation of 300 million can not replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.

If the tax code is unfair, it's because they want it unfair.

If the budget is in the red, it's because they want it in the red.

If the Marines are in IRAQ , it's because they want them in IRAQ.

If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way. There are no insoluble government problems.

Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like 'the economy,' 'inflation,' or'politics' that prevent them from doing what they take an oath to do.

Those 545 people, and they alone, are responsible.

They, and they alone, have the power.

They, and they alone, should be held accountable by the people who are their bosses provided the voters have the gumption to manage their own employees.

We should vote all of them out of office and clean up their mess!

[bryangriffiths]

ok this is interesting there are about 301,139,947 people or there abouts in the States but they want to give a 700 billion to those that messed it up it would be cheaper to give ever house hold a million dollars each then what there doing.

[Lucker]

The bill will be resubmitted and passed "under protest" in an effort to shield as many skirts as possible from the fallout.[/QUOTE]

This I appreciate .
Nevertheless , there is something lunatic about a nation that believes it is the mightiest on the planet , yet allows the most fundamentally important economic decisions since the end of World War 11 to be decided by a bunch of non experts who proceed to argue along party lines in order to try and save their own skins .
Such an approach has nothing to do with Democracy , as I see it . But it does have everything to do with stupidity and along the lines of " give every plummer a hammer to stop the one overall leak " imo
What the feck do I know about economic fundalism? My term for near meltdown .
Answer ,--- next to nothing .
So get me a committeee of your finest and brightest with total powers when the situation demands . Over here , we have the Cobra committee when State security is threatened . If it works for terrorism , then the same approach must be devised to cover all sorts of national catastrophes .
Who wants to hear what the representative for Nebraska has to say , or Wyoming or Texas .....
Get me Soros , Buffet , Gates and two more . Lock them in a room and give them 48 hours to save the world .

[Voobrazheniye]

The bill will be resubmitted and passed "under protest" in an effort to shield as many skirts as possible from the fallout.

This I appreciate .
Nevertheless , there is something lunatic about a nation that believes it is the mightiest on the planet , yet allows the most fundamentally important economic decisions since the end of World War 11 to be decided by a bunch of non experts who proceed to argue along party lines in order to try and save their own skins .
Such an approach has nothing to do with Democracy , as I see it . But it does have everything to do with stupidity and along the lines of " give every plummer a hammer to stop the one overall leak " imo
What the feck do I know about economic fundalism? My term for near meltdown .
Answer ,--- next to nothing .
So get me a committeee of your finest and brightest with total powers when the situation demands . Over here , we have the Cobra committee when State security is threatened . If it works for terrorism , then the same approach must be devised to cover all sorts of national catastrophes .
Who wants to hear what the representative for Nebraska has to say , or Wyoming or Texas .....
Get me Soros , Buffet , Gates and two more . Lock them in a room and give them 48 hours to save the world .[/QUOTE]

Two points in rebuttal:

First, being from Nebraska, Wyoming or Texas makes a person no more or less qualified to discuss economics than being from one of your elitist states like California, New York or - especially - Massachusetts. In fact, one of the biggest villians - and buffoons - in this whole mess, Congressman Barney Frank, is from Massachusetts. Aside from just cringing when I hear this guy speak, nothing but utter nonsense spews from his mouth. One thing that you do find in greater supply in America's "fly over" states, compared to the northeast or California, is common sense.

Second, your idea of a five-member committee to right the ship might be fine, but PLEASE... ANYONE BUT SOROS. I'd sooner suggest a corrupt Russian or Ukrainian oligarch before that piece of excrement.

[Lucker]

Hyena ,
You have misundersood my references .
The point I made is that random politicians are unlikely to have anything to say that would be additional to that from top experts .
My very point was forget Bloggs , Dumble and Bumble and bring on the world experts .
We may disagree with the specific choice of Soros , but again these were just arbitary names to illustrate a general proposition .
Incidentally , Soros is king in my books and I don't care where he came from . He took on and defeated the Bank of England and nobody else has even dared to try . You may not like them but winners should be ignored at peril .

[huney]

ok this is interesting there are about 301,139,947 people or there abouts in the States but they want to give a 700 billion to those that messed it up it would be cheaper to give ever house hold a million dollars each then what there doing.

Brian, check your math. There are about 100m households in the US. The correct number per household is about $7,000 not accounting for the cost of financing the 700b and administering the rescue.

Giving $7,000 to each household is not going to solve the problem. The reverse, however, is true. If each household were to contribute $7,000 to a rescue fund, even if they had to borrow the money, not only would we avoid increasing the already staggering federal debt, but each family would then own, and could sell, a piece of the rescued companies which will eventually return to profitability.

[Voobrazheniye]

Hyena ,
You have misundersood my references .
The point I made is that random politicians are unlikely to have anything to say that would be additional to that from top experts .
My very point was forget Bloggs , Dumble and Bumble and bring on the world experts .
We may disagree with the specific choice of Soros , but again these were just arbitary names to illustrate a general proposition .
Incidentally , Soros is king in my books and I don't care where he came from . He took on and defeated the Bank of England and nobody else has even dared to try . You may not like them but winners should be ignored at peril .

Mostly agreed. "Dumble and Bumble" pretty much describe EVERY member of Congress, regardless of the state of origin. With regard to Soros, I believe he should be fed to crocodiles... right after they are done with Barney Frank.

[huney]

What do you have against crocodiles? :becky:

[kentuckydan]

Mostly agreed. "Dumble and Bumble" pretty much describe EVERY member of Congress, regardless of the state of origin. With regard to Soros, I believe he should be fed to crocodiles... right after they are done with Barney Frank.

You do realise there is now a PETA hit contract out on you for that crack

[Voobrazheniye]

You do realise there is now a PETA hit contract out on you for that crack

Sorry... I didn't realize it was possible to be cruel to crocodiles. I heard they will eat anything... the more putrid the better.

[huney]

Sorry... I didn't realize it was possible to be cruel to crocodiles. I heard they will eat anything... the more putrid the better.

Even a crocodile would choke on Barney Frank

[Voobrazheniye]

Even a crocodile would choke on Barney Frank

You KNOW, of course, that there is a joke there. But... I am NOT going there. ;)

[huney]

You KNOW, of course, that there is a joke there. But... I am NOT going there. ;)

Good boy! :thumb:

[Hoopy]

Even a crocodile would choke on Barney Frank
but would a mountain lion :lol:

[Voobrazheniye]

but would a mountain lion :lol:

Like all cats, mountain lions are quite picky eaters. We don't even like to be downwind of Barney Frank.

[Hoopy]

Oh your talking about choking while eating him :p :lol:

[statajack]

This Frank bloke, any relation of Rubble?

[huney]

This Frank bloke, any relation of Rubble?

Yep. Best friend of Fred. ;)

[Voobrazheniye]

Yep. Best friend of Fred. ;)

In fact, you might say that they're bossum buddies... attached at the hip... intimately acquainted. :lol:

[slkasop]

After listening to all the hype and finger pointing on this matter, I am leaning towards letting the whole thing tank. The price of oil would go down and this would cause problems for some of the oil exporting economies. Humans have a tendency to first fix the blame and then try to solve the problem. Here is a novel idea by someone:

Obama’s Salary Should be Applied to Bailout $$$

Nina May

Monday, September 29, 2008

If you had an employee who was getting $160,000 a year, plus a full time staff, travel expenses, and a huge budget to work with, but never showed up for work, what would you do? Obama proudly lists on his resume that running for President is the most substantial thing he has ever accomplished. I am sure that his campaign manager must be surprised by that bit of hubris.

What has he done though to earn $320,000 the past two years while he has been paid for being a Senator? It suggests that the position of senator is not that important and can be put on hold for two years to travel the country, raise money, give speeches and be adored by the liberal media. And his response to McCain returning to DC to actually punch the time clock and have an impact on the debate about the economy is met with snide comments about being able to multi-task.

That’s sort of like a guy playing golf, getting a note that his wife is in the hospital saying he can multi-task by continuing to play while calling her on the phone to wish her well. The good husband rushes to her side.

If Obama cared as much about this economic crisis as he cares about winning this campaign, he would have denounced his economic advisors, Franklin Raines and James Johnson as being part of the Enron-like crisis where no mercy was spared to annihilate those involved in that scandal. And for years it continued to be a centerpiece of the trash Bush and Republican policy that the Democrats so proudly crafted. Now, the only sound that can be heard over the wringing of hands, is the cash register logging in the millions of dollars that these two and others have walked away with while leaving the regular taxpayer to hold the bag. How populist is that Obama?

Here is an easy solution to this economic crisis, and I give Planned Parenthood the credit for making it so crystal clear. They announced that because of the economic crisis they are going to give out free abortions for a while. That’s right, throw those babies at the Baal worshippers hoping to appease the “god of good economy”. I think the ancients who brought us child sacrifice would be proud of that very barbaric solution.

But why not defund Planned Parenthood and apply that money to the crisis? Then take every single earmark that was just passed by congress and put that on the balance sheet representing less money the taxpayers have to cough up for this unbridled greed and corruption.

Don’t stop there. What is HUD’s budget? And what does HUD do besides make sure that the government can dictate to a property owner who they can and can’t rent to. Close that useless agency and add that money to the crisis column. Convert that government building into high priced condos so that it actually serves an income pro ducing purpose.

The Department of Energy? What does it accomplish other than preventing us from drilling for oil in our own country to achieve oil independence? What really is the purpose of that agency and dozens of others like it that sit on prime real estate in the nation’s capitol, devising ways to curtail liberties and impose greater restrictions and regulations on us.

What does HHS do besides employ thousands of people who could be working in the private sector if the government would lower taxes, reduce regulations on small businesses and do what it was designed to do which is protect us from assault . . . foreign and domestic, providing an atmosphere of tranquility and growth. If you took the entire budget of HHS, which is larger than many countries in the world, divide it by the number of families it claims to help with its plantation handouts, and provide an advisor fo r each one, it would not only save the taxpayers millions, but it would bring an end to a totally failed system that has institutionalized dependency and served to rob people of their dignity and freedom. Oh, and convert that building into low-income housing where each family is responsible for paying rent . . . from the new jobs they will get once the restriction for them finding work has been lifted.

These government agencies have either robbed freedoms from the citizens, or they have enabled citizens to continue with irresponsible behavior, rewarding them at every turn. It’s sort of like Obama saying he wants to give the UN almost a billion dollars more to help end poverty in the world, when he can’t even pull out his own checkbook and help his own brother who is living on less than $10 a month in Africa.

So, if you take out all those earmarks and special interest giveaways that are in the budget and fire candidates who are on the government payroll while pursuing their own careers, close abusive and oppressive government agencies, tell the UN that you will only pay the bare minimum to be a member since you have only one vote, like a country that pays $10,000 a year to belong, allow drilling off the coast to bring the cost of gas down, and start selling a lot of the real estate that the government has acquired through the centuries . . . they wouldn’t need an economic bailout or stimulus package, because all of that would solve the problem.

What is Barack Obama’s solution? To insist upon a debate because the country deserves to hear his eloquence. Heh, Earth to Barack . . . we have been hearing from you for two years now and it is getting old, tiresome and redundant. Other than adding a few more states to the union, you really haven’t done or said anything that would have us believe that one more debate will reveal a unique thought. Give it up. It is hard to break it to a self-proclaimed messiah that there really is an issue bigger than you.

[saprosky]

Tomorrow, in a spanish humor magazine "El Jueves" (that is issued on Wednesdays ;) ), will appear this text.


¿Por qué llamamos terroristas sólo a los que ponen bombas? ¿Acaso no siembran el terror estos "ingenieros financieros" de los grandes bancos de inversión, que llevan a medio mundo al desastre, y encima sus grandes jefes se "blindan" con contratos supermillonarios y, cuando cometen la gran cagada, se van a casita con el riñón bien cubierto?O sea, que nos habían hecho creer que la amenaza era Bin Laden y los suyos, y resulta que el mayor peligro para que esto se vaya al garete viene de Wall Street.


Why we call terrorists only those who put bombs? Perhaps there do not sow the terror these "financial engineers" of the big investment banks, which lead half of world to the disaster, and above his big boss are "armoured" by supermillionaire contracts and, when they commit the big sh*t, they go away to home with the well covered kidney? Or, that they had made us believe that the threat was Bin Laden and theirs, and it turns out that the biggest danger comes from Wall Street.

[kentuckydan]

Sorry... I didn't realize it was possible to be cruel to crocodiles. I heard they will eat anything... the more putrid the better.

But you see they drag their prey UNDER water to age, and somethings float.

[Lucker]

I gave you four days America and now I can just about feel a pulse again
But there's a long way to go , Rednecks .

[alpine-frolic]

It's a long way to Tipperary,
It's a long way to go.
It's a long way to Tipperary
To the sweetest girl I know!
Goodbye Piccadilly,
Farewell Leicester Square!
It's a long long way to Tipperary,
But my heart's right there.

[Calibret]

Oh I'm pissed at these lunatics in Washington and Wall street.
One bunch is sleeping at the wheel while the other is picking
our pockets. Throw the bums out!
They screw us and we have to have to pay for it. I've had
this happen before but derived a little more pleasure from
it.

[Lucker]

Now it's up to Obama
Look at the Polls in marginal seats like Michigan and Florida .
Go baby go .

[saprosky]

I don't understand why americans will allow and finance these "financial terrorism"

http://www.cnbc.com/id/26892976/for/cnbc/


More info about "financial terrorism" in post #40 (http://www.gogabber.com/showpost.php?p=14263&postcount=40)

[Shadow-off]

700 Billion dollars Approved for financial Institution bailout. :(
25 Billion to GM ( Get a mechanic Inc. ).
Then Fanny Mae I was so shocked psychologically I repressed what they were given.)

I had four businesses I needed help with; did I get it ? NO, Why are they getting it when they were in business and screwed it up ?

Now I will abide by some of the laws where before I abided by all of them.
I promise not to rob banks.
I promise not to physically hurt anyone unless they try to hurt me.
I promise not to drive drunk.
I promise not to rape, or sexually abuse anyone.
But anything requiring a permit, license or permission in business to make money; they can forget it, and anything else that is illegal for sale or purchase they can forget about that too now. I will not listen to them anymore. They do not care about us; I will care about us. The only difference between me and Robinhood now is that I'm not a fag and I use a 9mm instead of arrows. Being pissed about it all :lol: that's understatement.
They are the largest groups of morons that ever walked the face of the earth; up the rich neglect the poor is their philosophy. I also have the reverse philosophy about them now.

[RiverRock]

I knew you would make it over here Shadow-off. Welcome.

So what illegal activities do you have in mind that can make lots of money?:lol: If you are going to be robin hood don't forget to send some my way.

[Shadow-off]

It ain't ready yet

[saprosky]

WASHINGTON (AFP) — AIG spent more than 440,000 dollars for an executive getaway at a California beach resort just days after the insurance giant was rescued by an 85-billion-dollar US government loan, lawmakers said Tuesday.
"Less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation," Democratic Congressman Henry Waxman told the House Committee on Oversight and Government Reform.
The US Federal Reserve stepped in to save American International Group from imminent collapse on September 16, with a loan that gave the US government a stake of 79.9 percent in the insurance behemoth in the deal.
"Less than one week later, AIG held a week-long retreat for company executives at the exclusive St. Regis resort in Monarch Beach, California," Waxman said.
Invoices showed that AIG paid the Pacific Ocean getaway resort more than 440,000 dollars, Waxman told the committee on its second day of hearings on the Wall Street economic crisis.
The charges included close to 200,000 dollars for rooms -- which cost between 425 and 1,200 dollars per night -- over 150,000 for meals and 23,000 in spa charges, he said.


Read more ... (http://afp.google.com/article/ALeqM5izEglM2Dz6PVFGAbgZV98PZTaImQ)




I feel like a stupid. Some people are getting big profit of this economical chaos and the rest are stupids. Only pay, pay, pay .......

[kentuckydan]

I feel like a stupid. Some people are getting big profit of this economical chaos and the rest are stupids. Only pay, pay, pay .......

While we are at it. wouldn't it be nice if all the politicians who took down contrabutions from Fanny Mae and Freddy Mac , paid the money back???

[saprosky]

While we are at it. wouldn't it be nice if all the politicians who took down contrabutions from Fanny Mae and Freddy Mac , paid the money back???


Money back :megalol:

[paddedcell]

Please excuse my ignorance here (Economics is not my thing - on a micro level, let alone a macro level :noidea:) but I have a couple of stupid questions (one definitely is!)...

This $700 billion bailout (similar thing happening here in the UK)... (I saw an American 'Joe Public' guy ask this on TV here a few days ago, in response to a Reporters "whaddayasay Mac?" question and it got me thinking... "what would actually happen if this was done?") Wouldn't it be easier to give every US citizen $1,000,000 to 'boost' the economy? (It would certainly boost me! :becky:)

Most of us, if we're fortunate enough to be able to do so, set aside some funds for 'emergencies' or crises (or simply stash it away for a rainy day) but...$700 BILLION! :eek: That's one helluva lotta rain! :rain: But my point is...how do you feel knowing that your Government (and I include both the US & UK there) has this kinda money stashed away? Wouldn't this money have been better spent on Public Services...schools, hospitals, transport (or defense, for the Americans)?

Like I say...just my unintelligent ramblings...but your thoughts would be welcomed (dirty ones especially ;) )...

Ade
x

[RiverRock]

I wish the government was using money that was stashed away for a rainy day. That would be sound financial responsibility. But why do that when the government can pay for it with debt and the federal reserve will print a lot more dollars causing inflation. A sneaky indirect way to "tax" people if you understand it.

Oh, and it is actually 850 billion+ now after they added 150 billion in superfluous bribes to get it passed. Your right that is a HUGE, unbelievable amount of money to give to wall street that rewards greed and stupidity. (It's not even counting the several other previous bailouts) I can't believe the media portrayed it as something that had to be done and everyone went along with it. :(

Also giving everyone a million sounds good. However, there are about 138 million tax payers in U.S. 850 billion divided by 138 million is only about $6,000 per taxpayer :( The government could just keep printing money and give everyone a million dollars. But it will become worthless and we would be lucky to buy a load of groceries with it.

****The whole world uses dollars to represent value based on the perception of the U.S. as a historically reliable, economic superpower. It can only last as long as the world has faith in the piece of paper having value. This is the only reason the government can continue like it has for so long and get away with it. FOR NOW. The time to pay the piper will come. The Euro just doesn't have the same backing and trust in it, so it won't save us either.

American 'Joe Public' is oblivious and easily mislead and confused with an abundance of conflicting information.

[Voobrazheniye]

It is time to ask our French friends to dust off one of their old guillotines and let the U.S. borrow it for a series of high-profile executions. Televised to Congress and to every major firm on Wall Street.

We start with George Bush. I have been quite lenient toward him for most of his blunders, but this is too much. Off with his head!

Chris Cox (SEC oversight) is next. Off with his head!

House banking committee chair Barney Frank is next. His continuous defense of Fannie Mae and Freddie Mac for many years was inexcusable. His execution will be especially nice as we listen to him squeal and shout, probably even after his head rolls into the basket. Off with his head!

Then comes Chris Dodd, Frank's counterpart in the Senate. Dodd got sweetheart mortgage deals from Countrywide, which eventually went into the toilet. Off with his head.

The Republicans who were the chairs of those committees before 2006 are next. Off with their heads.

Nancy Pelosi is next, but she gets it for more than just the financial crisis... she also gets it for being the most generally obnoxious individual in the entire government. Off with her head!

Harry Reid is next. Aside from his part on the crisis, he gets it for just being the dullest knife in the entire congressional drawer. Off with his head.

Obama is next for doing absolutely nothing since he came into the senate and for suggesting "fixes" that will just make things worst. He also gets it for being a socialist. Off with his head!

Treasury secretary Paulson gets it next, for obvious reasons. Off with his head!

Fed chairman Bernanke gets it next. His predecessor warned that this could happen, but Bernanke has been part of the problem, not the solution. Off with his head.

Now... let's line up 90 percent of the remainder of congress and those in the administration and bureaucracy who have culpability in this matter. (Excuse me... France... could we borrow a few more of those guillotines please? This is going to be a big job.) Off with their heads!

And then... we go after the greedy Wall Street bastards. But I need to go make breakfast first, so if someone else wants to pick it up from here, go for it! Off with their heads!!!:butcher:

[beezneesman]

It is time to ask our French friends to dust off one of their old guillotines and let the U.S. borrow it for a series of high-profile executions. Televised to Congress and to every major firm on Wall Street.


Why do you need guillotines when you've got about one gazillion guns in the USA?

Put 'em up against a wall and brass 'em up Ceaucescu style. That's what I would order my lads to do.

I would of course administer the coup de grace personally (just to show that I don't mind getting my hands dirty as well).

[Voobrazheniye]

Why do you need guillotines when you've got about one gazillion guns in the USA?

Put 'em up against a wall and brass 'em up Ceaucescu style. That's what I would order my lads to do.

I would of course administer the coup de grace personally (just to show that I don't mind getting my hands dirty as well).

Not a bad idea... but I'm kinda going for theatrics here. ;)

[Mnguy2007]

Also giving everyone a million sounds good. However, there are about 138 million tax payers in U.S. 850 billion divided by 138 million is only about $6,000 per taxpayer :( The government could just keep printing money and give everyone a million dollars. But it will become worthless and we would be lucky to buy a load of groceries with it.


The problem with giving a million or six thousand to all the people in the country is that it wouldn't change anything. It would end up back in the pockets of the same greedy people
that it is going to now. The only difference is it might take a little bit longer to get there.

For just a fraction of that bail out money. We could build a new prison, form a special task force withing the FBI that deals with these types of crimes, and lock up the whole rotten bunch for the rest of their natural lives.

While I am dreaming, I guess I can make all the political butt heads that make it possible for this crap to happen donate 100% of their wages and all their bribe money to pay for part one of my dream and we the people pay nothing for a change.

[huney]

Not a bad idea... but I'm kinda going for theatrics here. ;)

There is much to be said for the emotional gratification to be found in a good, old-fashioned, cleansing bloodbath.

http://www.killingspree.co.uk/bloodbath.JPG

But I think Frank should go last. Let him work up a good sweat watching all the others go before him.

http://www.gogabber.com/cid:image004.jpg@01C8D0B7.42DB4CC0

[Lucker]

[QUOTE=beezneesman;17683]Why do you need guillotines when you've got about one gazillion guns in the USA?

Captain .
I guess being nice to gun toting rednecks is OK , once in awhile .
But damn it man , it does not matter how many or how big those guns are .
They just can't shoot straight .

[brown-raider]

PEACOCK,hand the bleeder a towel....:eek:

[kentuckydan]

[QUOTE=beezneesman;17683]Why do you need guillotines when you've got about one gazillion guns in the USA?

Captain .
I guess being nice to gun toting rednecks is OK , once in awhile .
But damn it man , it does not matter how many or how big those guns are .
They just can't shoot straight .


Actually one thing rednecks can do is shoot straight, they can do something
most Brits can't do.

Go out in the woods and practice.

One example of a redneck hillbilly was

Alvin Cullum York (http://en.wikipedia.org/wiki/Alvin_C._York)

(December 13, 1887 – September 2, 1964) was a United States soldier, famous as a World War I hero. He was awarded the Medal of Honor for leading an attack on a German machine gun nest, taking 32 machine guns, killing 28 German soldiers and capturing 132 others during the U.S.-led Meuse-Argonne Offensive in France.

Alvin Cullum York was born to an impoverished farming family in Tennessee on December 13, 1887, the third of eleven children.


By the way I am getting tired of your tedious slurs.

Can you come up with something a tad more original than your continuous assertion that everyone from a State such as Tennessee is a racist?

You are getting repetitious

[saprosky]

These guys celebrated a party in the most expensive hotel of Monte Carlo. 50 guests were in a "événement culinaire" with a cost of 150.000 euros.

We can see now where our money go. We will need more than guillotines :dwarf::target:

Curiously I can't find this new in english. And not only me was searching for english translation. Very strange.

Here in french (belgium):

La branche assurances de Fortis, rachetée lundi par BNP-Paribas, a invité vendredi 50 personnes à participer à un "événement culinaire" dans l'hôtel le plus cher de Monaco, pour un coût de 150.000 euros, rapporte vendredi le quotidien belge De Morgen.
Le déjeuner, qui réunira surtout des courtiers indépendants, est organisé au restaurant Louis XV (trois étoiles au Guide Michelin) de l'Hôtel de Paris Monte-Carlo, le plus cher de la Principauté. Selon le guide de voyages Lonely Planet, le prestigieux restaurant abrite la plus grande cave à vins du monde, avec quelque 250.000 bouteilles, "pour la plupart impayables". Un repas y atteint rapidement les 300 euros, alors qu'une nuit à l'Hôtel de Paris coûte de 500 à 1.000 euros en basse saison.
"Quelques membres de la direction seront présents, mais le groupe consistera essentiellement en des courtiers, des intermédiaires externes", a indiqué un porte-parole du bancassureur belgo-néerlandais. L'événement est prévu depuis des mois et s'inscrit dans le cadre d'actions commerciales habituelles, s'est-il défendu.
L'assureur américain AIG, qui a dû accepter sa quasi-nationalisation à la mi-septembre, a été critiqué jusqu'à la Maison Blanche pour avoir dépensé peu après de folles sommes dans un luxueux complexe hôtelier en Californie. Il s'est justifié mercredi en expliquant que ce séjour avait été offert à des courtiers indépendants et non à des dirigeants du groupe.