So Pelosi wanted this bailout so bad that she .... did nothing?

http://time-blog.com/real_clear_politics/2008/09/bad_day_for_speaker.html

What a tool, i for one can't stand her, and i'm so so so glad that this bill failed. Now we can actually, hopefully, find a real soltuion and not this superficial "drown the problem in money/liguidity" crap.

There are alternatives out there folks:

http://www.daveramsey.com/etc/fed_b...ge_the_nations_future_10928.htmlc?ictid=sptlt

Thankfully, there were some house members with some backbone ON BOTH SIDES OF THE AISLE who actually listened to the american people (the latest polls show of course that 65-80% objected to this bill) and voted against this trash legislation.

FYI the bill would NOT have gotten rid of Golden Parachutes, just taxed them at 20%, would NOT have had independent oversite, the SEC chairman (Chris Cox) and the FED chairman (Bernanke) would have headed the board along with the HUD secretary...., and would even have allowed Paulson to bailout foriegn firms as long as they were not State owned banks, american taxpayers buying bad debt from overseas, sound like a good deal to you?

Not only that but of course it wouldn't have had the desired effect! Note that for all the hysteria over yesterday's 777 point drop, the market gained 1/2 of it back this morning, and for all the talk of the "biggest one day point drop" it was 7%, not the 40%+ of the The Crash of '29, this isn't a Depression style problem we are facing no matter the scare tactics of Bush and Pelosi and Boehner.

Dont pass legislation based on what whiners on the trading floor say please, my grandkids deserve better...

 

Here's the thing, and I called it two days before it happened. I knew it wouldn't pass. There was not enough popular support for it and they knew there would have been mass public outrage on a grand scale. So they didn't pass it and then let the markets crumble to convince the dumbed-down public that they must support the bailout by scaring people into submission so they would literally plead for the state to intervene. Typical problem-reaction-solution scenario. Now all I am is hearing is how people MUST get behind this next bill, OR ELSE. It is really sickening, and it is sickening how stupid and uninformed the average person in this country is.

 

Agreed, i think of that whenever i hear that Obama is more trustworthy when it come to economics than McCain, as if either one of them know diddly about economics, they only know how to buy votes and please their special interest groups. I'll still vote for the one whose special interest groups scare me slightly less, but i don't have any illusions that either one knows what the hell he's talking about.

 

With congressional elections coming up it's going to be matter of who applies the most pressure, potential voters, or the party leadership....

 

Yes. I mean, neither of them control anything, nor will they once they take office. I know I sound like a broken record player by now but so many people just don't get it. They want to get into one of these phony partisan, media-created debates where each side points the finger at the other, completely unaware of how the economy works or who call the shots. I know you don't agree with a lot of what I say, either, and that's fine. But what people are going to either understand or not understand is that the people who call the shots from behind the facade of the so-called "democratic process" work according to a plan. The plan is to be implemented regardless of the face that's presented to the public for the people to believe is the one running things. This is why it means NOTHING which of these two people gets elected to office because they are simply empty suits and frontmen for the real powers behind the scenes.

 

all the while the fed has quietly been pumping cash into the market to the tune of nearly a trillion dollars in the past week..
sure there "loans", that will never be repaid..

so what exactly is this bailout supposed to accomplish that a trillion dollars couldnt?

 

further nationalization of various industries and unprecedented power transfers with the bonus of certain parties making a buck by unloading bad debt on taxpayers

 

thats what i was thinking....

 

Here's the simple fact:

They are deliberately destroying the currency. They created the problem to offer the solution, which is for government intervention and the flooding of liquidity into the markets to drive the dollar down as control over the economy is consolidated into fewer and fewer hands.

These people are not stupid. They know exactly what they are doing.

 

So say you're right, what do we do about it?

 

Well, what can we do other than talk about it and try to wake people up? Surely voting for one of the hand-selected puppets they give us is not going to solve the problem.

 

i don't even know if that would do anything.

President
Congress
Media
Financial institutions

all at historic lows when it come to trust, no one believes what these people say, but ti doesn't matter. The president makes the proposal through Paulson, the Congressional leadership agress to the "urgency", the media promote the hype, the house only revbels when they fear losing the next election and thats just this round, despite the fact that the approval ratings for all these people is in the teens....

they dont listen to us now.