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(MSNBC)   Well, the bailout was fun while it lasted. Hilarity ensues   (msnbc.msn.com) divider line 2171
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39873 clicks; posted to Main » on 29 Sep 2008 at 1:57 PM (5 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-09-29 02:15:14 PM
"Dad, does this mean that assets need to be priced in more realistic terms?"

"Yes, son. It does."

This is great.
 
2008-09-29 02:15:17 PM
Fails.

94 Dems against.
 
2008-09-29 02:15:25 PM
www.jacobwinters.com

The DJIA dropped 400, 500, 600 points! Ah ah ah!
 
2008-09-29 02:15:26 PM
i29.photobucket.com
 
2008-09-29 02:15:26 PM
Well at least Bush's legacy of shiat is assured. I guess.
 
2008-09-29 02:15:36 PM
hmm I think I'll wait to buy a house then.
 
2008-09-29 02:15:37 PM
With DOW down we can get cheaper stereos.
 
2008-09-29 02:15:42 PM
Bailout has officially failed. No more extensions, it is back to committee if anything goes through before the recess.

Put your money in specie. Its the only thing that has a chance to survive this.
 
2008-09-29 02:15:44 PM
I'm a mortician so I think I'm safe.

/thank you for smoking.
 
2008-09-29 02:15:58 PM
tbn0.google.com

" we membered 9/29 "
 
2008-09-29 02:15:59 PM
CygnusDarius: Cain I has fall of the Western Civilization nao?.

some stocks are actually trading UP at the moment. so we might not be completely farked.

It's not looking good however. that bill was supposed to pass, I don't know yet why it failed.
 
2008-09-29 02:16:03 PM
I think we should take bets on where the DOW will end up today, you know, so some of us can win some cash to stash in the mattress.

I've got $50 on -725 pts.
 
2008-09-29 02:16:06 PM
Glasgowsfinest: bottom feeders are always safest when an environment crashes.

Why kid? its true!
 
2008-09-29 02:16:25 PM
The economy will fix itself.
 
2008-09-29 02:16:27 PM
Shvetz: Aidan: I'm glad. I will endure much hardship to ensure that my child and his peers do not have to have a 70% tax burden when they grow up. If that means I'm working two jobs and we stay in a trailer, so be it. For once, I'm grateful to the Republicans.

Right... We won't have a 70% tax burden if this passes. Read the article again. House members don't want to vote for it, because it's politically unpopular, despite being the smart thing to do. Most analysts agree that we may even make a profit from this, as we have in the past.

Just because the unwashed ignorant masses think they'll be sticking it to Wall Street fat cats, doesn't make it so. Without the bailout, there might not be two jobs for you to work as credit dries up.


The analysis that says the government will make money on this makes the huge assumption that only 50% of the mortgages expected to fail will fail.

If you use a more realistic value, the government ends up losing hundreds of billions.
 
2008-09-29 02:16:33 PM
totalyellow.com
 
2008-09-29 02:16:34 PM
Is it bad when this is the main image on cnn.com?

i2.cdn.turner.com
 
2008-09-29 02:16:42 PM
img385.imageshack.us


Ladies and gentlemen, I'll be brief. The issue here is not whether we broke a few rules, or took a few liberties with our constituents wallets - we did. But you can't hold a whole country for the behavior of a few, sick twisted individuals on Wall Street and in this room. For if you do, then shouldn't we blame the whole mortgage lending system? And if the whole mortgage lending system is guilty, then isn't this an indictment of Wall Street and financial institutions in general? I put it to you, Barney Frank - isn't this an indictment of our entire American society? Well, you can do whatever you want, but we're not going to sit here and listen to you badmouth the United States of America. Gentlemen!
 
2008-09-29 02:16:48 PM
Thank you jeebus. The bailout plan was a give away to rich white guys. The economy will rebound, and in a much more secure and profitable way, I hope.
 
2008-09-29 02:16:49 PM
Good, FARK the "bailout." For an exceedingly short-term 'gain' in keeping stock prices high, it could have made matters worse. There is no reason to suppose government was going to make things any better.

Oh, and I'm sure Rep. Frank- who believed so strongly in Fannie Mae and Freddie Mac- is terribly disappointed now that this funding source for ACORN has dried up.
 
2008-09-29 02:16:49 PM
Republicans put politics first. And the whole country suffers.
 
2008-09-29 02:16:52 PM
thank god. that would have been $700 bill- -er- make it an even $1 Trill that won't be flushed down some toilet. let the mismanaged companies deal with it. you want to take on risk with taking on any responsibility for it, here's your comeuppance.
 
2008-09-29 02:16:57 PM
msnbcmedia1.msn.com
SFIA!
 
2008-09-29 02:17:01 PM
CNN has the most awesome face-palm shot ever on their front page just now.

/hot link? gosh, no, I've already had lunch... but thank you, neighbor!
 
2008-09-29 02:17:02 PM
I'm really having trouble deciding if I want to go for a buy strategy on some undervalued stocks or put all of it into whores, liquor and ammunition.

/hard to go wrong with the big three
 
2008-09-29 02:17:13 PM
mercator_psi: Great *facepalm* pic here.



That about sums it up.


I was coming here to post that. Good to see that CNN is hip to the facepalm.
 
2008-09-29 02:17:14 PM
SweetDickens: Simple solution: Give each US citizen 18 years old and above 500k. Which equals roughly 700 billion. Tax it now we have roughly 370k each....Guess what? We will pay off our houses, credit cards and still have some bling money left. Wow just think, stimulating the economy by getting rid of the middle man. Yes it works....Alaska does this every year and people do use the money for their pleasure and pain.

Check your math dude. That would be 370 dollars each.
Wow, that email is still going around, huh?
 
684
2008-09-29 02:17:17 PM
Ha ha. Suck it greedy Wall St. bastards!
 
2008-09-29 02:17:18 PM
Weaver95: PurplePimpSaber: Ok...so they voted down the amendment...so is what they are voting on now the original 3-page bill with no changes?

got me. but the House didn't pass the bill in it's current form and that deal was supposed to fly through the Congress.

Now they go back to the table and rework the deal while the markets go into freefall.


I'm watching the feed of the vote to "Suspend the Rules and Pass HR 7175"...is this something completely unrelated?
 
2008-09-29 02:17:20 PM
Bush and the Democrats will come back with a 1.5 trillion dollar bailout request in a couple of weeks while saying that they now require twice as much because the first bailout failed.
 
2008-09-29 02:17:24 PM
PeriRies: This is what needed to happen anyway.

We've all been greedy for far too long.

Let the credit dry up..

Let people learn what money means again.

It's pay now, or pay later.


The little spark of "free-market capitalism" (as if we've ever really had that in the US) wants to agree with you.

However, my real concern is that there's a severe problem for any company which requires credit facilities to conduct their business, which is most of them. A lot of non-banking companies out there, even with good credit, are not finding the money they need to conduct international shipment (for which letters of credit are standard practice), capital asset purchasing, or shortfalls in accounts receivable.

The banks either don't have the money to spare on commercial paper, or they are so scared of the spectre of ANY securitized debt, that many just won't lend, for fear of panicking investors.

The thought of 700 billion dollars churns my stomach, but I think in the long run the economic fallout from bank and business failure will cost more than $700B.

I don't know if this is how to fix it. I'm not an expert on financial markets or monetary policy. But I think if we just stick by our laissez-faire guns, it's going to suck A LOT worse before it gets better.

I'm sometimes dubious about putting so many drugs in my body to interrupt its natural processes, but when I've got a cold and a big project is due, I take cold medicine.
 
2008-09-29 02:17:24 PM
Aeonite: The bill failed because neither Obama or Biden voted.

McCain 2008


You know McCain didn't vote for it either. Neither did Kennedy, Kerry, Durbin, Byrd, or any of the Democratic senators. Also, not a single Republican senator (not one!) voted for it.

Encyclopedia Brown had figured out what happened... Have you?
 
2008-09-29 02:17:24 PM
Ditto: I'm a mortician so I think I'm safe.

/thank you for smoking.


Won't there be more cremations?
 
2008-09-29 02:17:32 PM
Crap!! I gotta go somewhere.

Hey, make sure nothing good happens for about 45 minutes, 'kay??

/Don't worry, nothing good will happen today.
 
2008-09-29 02:17:32 PM
"With this strong and decisive legislation," he said, "we will help restart the flow of credit so American families can meet their daily needs and American businesses can make purchases, ship goods and meet their payrolls."

Because the way to solve a bad credit problem is to make it easier for people to obtain credit.
 
2008-09-29 02:17:32 PM
Lincey: SweetDickens: Simple solution: Give each US citizen 18 years old and above 500k. Which equals roughly 700 billion. Tax it now we have roughly 370k each....Guess what? We will pay off our houses, credit cards and still have some bling money left. Wow just think, stimulating the economy by getting rid of the middle man. Yes it works....Alaska does this every year and people do use the money for their pleasure and pain.

You have my vote


Facepalm to you two!
 
2008-09-29 02:17:47 PM
PurplePimpSaber: Weaver95: PurplePimpSaber: Ok...so they voted down the amendment...so is what they are voting on now the original 3-page bill with no changes?

got me. but the House didn't pass the bill in it's current form and that deal was supposed to fly through the Congress.

Now they go back to the table and rework the deal while the markets go into freefall.

I'm watching the feed of the vote to "Suspend the Rules and Pass HR 7175"...is this something completely unrelated?


I think that bill was something else.
 
2008-09-29 02:17:55 PM
I have a question. Why not cut the funding for the war and use that money as a bailout? Or is that impossible?
 
2008-09-29 02:17:56 PM
i149.photobucket.com
♫ ♫ ♫ ♫ ♫
Every time it rains it rains
Pennies from heaven.
Don't you know each cloud contains
Pennies from heaven.
♫ ♫ ♫ ♫ ♫
 
2008-09-29 02:18:05 PM
Peaceboy, you win. Better than mine.
 
2008-09-29 02:18:10 PM
Hooray! We're all screwed!
 
2008-09-29 02:18:16 PM
Huh. Probably better now than later. No point voting on this chump change. Might as well start addressing the real money.
 
2008-09-29 02:18:16 PM
joekm: Aeonite: The bill failed because neither Obama or Biden voted.

McCain 2008

I had no idea those two were so vital to the economic health of this country....maybe he'll decide to help us more if we elect him president?


I know and also didn't realize they were members of the house of representatives.
 
2008-09-29 02:18:18 PM
kidddynamite: Well, back to work for me. I've been a stay at home dad for 2 years. Guess we won't be able to afford it now.

Welcome to McDonald's... how may i help you!


Get in line pal.
 
2008-09-29 02:18:19 PM
that table? the Dow just fell off it.
 
2008-09-29 02:18:24 PM
f, gm, dai are not good investments. dai is bankrupt and all three have crap products.

i own two fords. they're okay... but there is better.
 
2008-09-29 02:18:38 PM
Good. The majority of the American people are against the bailout. I've said it before and I'll say it again. Those businesses made some bad decisions. They deserve to fail. It will get rough for awhile but we will survive.

It's about time Congress did something that the people want.
 
2008-09-29 02:18:41 PM
img46.imageshack.us
"But Joe, at least we stuck it to those corporations!"
 
aba
2008-09-29 02:18:44 PM
Nightsweat: You know McCain didn't vote for it either. Neither did Kennedy, Kerry, Durbin, Byrd, or any of the Democratic senators. Also, not a single Republican senator (not one!) voted for it.

Encyclopedia Brown had figured out what happened... Have you?


It's another lateral thinking puzzle!
 
2008-09-29 02:18:44 PM
If I knew it was going to be that kind of party, I'd stick my d^ck in the mashed potatos!
 
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