skumbucket Posted September 29, 2008 Share Posted September 29, 2008 almost twenty votes short so far. they're trying to figure out who voted no that they can switch over. meanwhile the dow fell as much as 680, the TSX dropped more than 800. shit's fucked up. Quote Link to comment Share on other sites More sharing options...
sgoodcore Posted September 29, 2008 Share Posted September 29, 2008 They need to get it right because otherwise we'll have much more issues in the long term. Quote Link to comment Share on other sites More sharing options...
Guest baseball Posted September 29, 2008 Share Posted September 29, 2008 It has been DEFEATED. Thankfully. Here's Dennis Kucinich this morning on the bill: http://www.democracynow.org/2008/9/29/is_this_the_united_states_congress Quote Link to comment Share on other sites More sharing options...
kirbypuckett Posted September 29, 2008 Share Posted September 29, 2008 Whew. More time to decide which country to move to. Quote Link to comment Share on other sites More sharing options...
Guest baseball Posted September 29, 2008 Share Posted September 29, 2008 Here's a money quote from the article I posted above, by the way: AMY GOODMAN: Is it any better than when it was first introduced by the Treasury Secretary, by Henry Paulson? REP. DENNIS KUCINICH: Well, you know, that implies that you would accept the underlying premise. I reject the underlying premise that we needed this bill. And as a matter of fact, that we’re putting this up before an adjournment in an election season shows that Congress is being put under extraordinary pressure to bail out Wall Street. We haven’t looked at any alternatives, Amy. This is—you know, it isn’t as though, if you had a liquidity crisis, that—you know, a real one—that you’d start to look at all the alternatives. We haven’t done that. We have a bill here, a bill of more than a hundred pages, that we haven’t had a single hearing on the bill, you know—on the concept, yes, on what Paulson and Bernanke asked for initially. But, you know, we need to have hearings on this. There’s 400 economists and three Nobel Prize-winning economists who have said, “Whoa, wait a minute! What are you doing? Why are you rushing this?” You know, this thing doesn’t smell right, frankly. AMY GOODMAN: What do you think has to happen right now? REP. DENNIS KUCINICH: Well, you know, Congress better get ready with a plan B. If this thing goes down, we need to find a way to help Wall Street pay for its own problems. You can do that with a 20—.25 percent stock transfer tax, cancellation of dividends. You know, make the shareholders and the investors have to pay for the funny business that was going on on Wall Street. Why make the taxpayers pay? You know, the very underlying idea of this needs to be challenged, and frankly, there hasn’t been enough of that going on. Well, what we have is a transfer of wealth, actually. It’s a continuation of a transfer of wealth. This whole government has become nothing more than a big machine that transfers the wealth upwards with our tax policies, our energy policies, with this fiscal policies, with the war. All the wealth of the country goes from the pockets of the people into the hands of a few. This is a very dangerous moment. You know, it’s the biggest amount of injection of capital by the government in a single time since the New Deal. And frankly, there is no trickle down here. There’s just rewarding bad behavior. Quote Link to comment Share on other sites More sharing options...
john Posted September 29, 2008 Share Posted September 29, 2008 Doesn't bailing out failing businesses defeat the whole idea of capitalism? Quote Link to comment Share on other sites More sharing options...
sgoodcore Posted September 29, 2008 Share Posted September 29, 2008 I almost wish Kucinich was the VP not Biden. I tend to side with Kucinich a ton, especially on this issue. Bad business people should be cornholed not Joe Taxpayer. Quote Link to comment Share on other sites More sharing options...
dante3000 Posted September 29, 2008 Share Posted September 29, 2008 Doesn't bailing out failing businesses defeat the whole idea of capitalism? Yeah but this is the definition of an epic fail. It's a fail so large that if nothing is done we'll be far more fucked. I do agree that the current plan was shit though. There are several high ranking economists who disagree with the original bailout. I'm hoping for something with more oversight that will allow at least one CEO to be drug into the street and shot. Quote Link to comment Share on other sites More sharing options...
cadetapplesauce Posted September 29, 2008 Share Posted September 29, 2008 i want to move to canada. or australia. Quote Link to comment Share on other sites More sharing options...
john Posted September 29, 2008 Share Posted September 29, 2008 I heard its hard to get citizenship in Australia Quote Link to comment Share on other sites More sharing options...
ihprstl Posted September 29, 2008 Share Posted September 29, 2008 I heard its hard to get citizenship in Australia One of my friends is married to an Australian and they are trying to move over there. She has dual citizenship. He is a bartender here and since his annual income is listed under $25,000, they won't give him a work permit in Australia. Quote Link to comment Share on other sites More sharing options...
flood Posted September 29, 2008 Share Posted September 29, 2008 its great how the poor/working poor/lower middle class realize that this doesnt actually effect them, because they've already been downsized and have no holdings or savings... and they get to watch the rich people take it in the ass for once. Quote Link to comment Share on other sites More sharing options...
googlemyass Posted September 29, 2008 Share Posted September 29, 2008 http://www.msnbc.msn.com/id/3683270/?GT1=43001 Quote Link to comment Share on other sites More sharing options...
dante3000 Posted September 29, 2008 Share Posted September 29, 2008 Who has cash? Now is the fucking time to buy. Quote Link to comment Share on other sites More sharing options...
theambulancereview Posted September 29, 2008 Share Posted September 29, 2008 Start up entrepreneurs are pretty much fucked. Quote Link to comment Share on other sites More sharing options...
rhythmgtr5 Posted September 29, 2008 Share Posted September 29, 2008 i'm too scared to buy anything and have been for awhile. Im all about CDs. hopefully they'll let the market correct itself and not pass this bailout Quote Link to comment Share on other sites More sharing options...
deville Posted September 29, 2008 Share Posted September 29, 2008 Do you really want the same morons ie Bush. Congress, Fed, and Paulson, the ones who got us into this mess to bail us out? Paulson is the same dumb-ass who said 2 weeks ago that everything was fine after we bailed out Fannie May and Freddie Mac. Also personally, when Pres Bush says to do something, I pretty much will do the opposite of it. Quote Link to comment Share on other sites More sharing options...
flood Posted September 29, 2008 Share Posted September 29, 2008 well it started, some banker tossed himself in front of an express train Quote Link to comment Share on other sites More sharing options...
theambulancereview Posted September 29, 2008 Share Posted September 29, 2008 well it started, some banker tossed himself in front of an express train already?! Quote Link to comment Share on other sites More sharing options...
dante3000 Posted September 29, 2008 Share Posted September 29, 2008 well it started, some banker tossed himself in front of an express train LOL at killing yourself over the economy. Quote Link to comment Share on other sites More sharing options...
Guest baseball Posted September 29, 2008 Share Posted September 29, 2008 Who has cash? Now is the fucking time to buy. It's very tempting to jump in on some of the stuff that is ultra cheap. Too bad I need that money for wedding stuff. I'm not even going to look at my other stuff today. I'll check it next year. Quote Link to comment Share on other sites More sharing options...
kirbypuckett Posted September 29, 2008 Share Posted September 29, 2008 Who has cash? Now is the fucking time to buy. I have so much extra money right now, I wish understood investments. Quote Link to comment Share on other sites More sharing options...
martyk36 Posted September 29, 2008 Share Posted September 29, 2008 i've been contemplating opening up an Etrade account, but I don't know anything about stocks/investments either. Quote Link to comment Share on other sites More sharing options...
flood Posted September 29, 2008 Share Posted September 29, 2008 well it started, some banker tossed himself in front of an express train LOL at killing yourself over the economy. well its usually moreso the idiot with the mansion and the trophy wife who just lost every penny to his name because he was overly greedy. Quote Link to comment Share on other sites More sharing options...
sgoodcore Posted September 29, 2008 Share Posted September 29, 2008 If you want to learn about investing read anything and everything by Warren Buffet. Quote Link to comment Share on other sites More sharing options...
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