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BREAKING: The U.S. House passes financial bailout bill. More to come

Started by nmindependent · 9 months ago

The U.S. House passed the $700 billion bailout legislation by a vote of 263-171. The successful vote follows an earlier ballot earlier in the week by the House in which lawmakers dramatically rejected an earlier version of the legislation by a vote of 228 to 205. ... Continue reading »

6 comments

  • JoMa

    9 months ago

    Wall Street: "Screw you!"

    Just before passage of the handout bill, the Dow Jones average was up about 312 points. As I write this note. its way off that high and is down to as low as +40 points.

    Have you any idea how much money was made by traders and speculators in about 30 minutes by crassly selling into the rally? Obviously I have no idea where the average will end up for today, but kiddies, this is what Wall Street really thinks about you. The whole thing is a grand head fake.

    Already I heard money commentators saying that this plunder of the taxpayer "is not enough - its only a first step"

    I know its early, but "Bah Humbug"
    reply
  • JOD2

    9 months ago

    I think its more like Main Street: "screw you!"

    Love,

    Wall Street, President Bush, Democratic Party.
    reply
  • JOD2

    9 months ago

    Wow. The US citizen has just been duped big time. Wow. The fundamentals of this economy are so bad that its recession one way or another at this point. This bill was a massive giveaway that will not change anything. Unreal. Man, this nation is really screwed up.
    reply
  • Thomas_James

    9 months ago

    You know its a strange day when the liberals, the conservatives, and the libertarians are all agreeing. Congress should not have passed that bill, so much for democracy where politicians respect the will of the people....
    reply
  • Thomas_James

    9 months ago

    And before anybody argues about it, let me clarify. I said conservative not neo-con. There is a big difference.
    reply
  • JoMa

    9 months ago

    With all the focus on the handout bill, did anyone notice that Wells Fargo made an offer for Wachovia with no assistance from the tax payer at all? In fact, Citibank is is claiming that it has an exclusive agreement to buy Wachovia and that Wells Fargo made a move on them. (do I hear bidding war here?)

    Good on Wells Fargo! This is how things should work. Wachovia screws up, goes bankrupt and their assets get bought by a better managed company. No taxpayer intervention, nobody looses their savings, and the sign companies and printers, which employ real workers, will make out well changing all the names on the branch offices and business cards.

    And, best of all, no sleazy politician can claim credit for helping "the American people".
    reply
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