Everyone here doing okay? GD-P is crazy right now on the Bailout vote

[Debi]

My Rep. voted against it and here's his statement http://www.bleedingheartland.com/showDiary.do?diaryId=2001

[Jennicut]

1. Chris Dodd is my rep so he really was a main part of working on it

I wanted it to pass, I don't want to see a Depression. I had to hug my Mom today, she was pretty upset over the stock market.

[gateley]

2. I flip flopped like crazy - several times.

Well, THAT makes sense, but then again, THIS side has a good point, too.

I think I finally went into the "for" camp when a DUer posted that her husband had been called in at work and told that without available credit, they might have to close their doors. Don't know what kind of industry - she said it was a fairly large company, about 1000 employees in a few states. So many businesses do business on credit, so... i became a 'for'.

it's like Kurt and Hunter said: Kucinich was his philosophical choice, Biden was his pragmatic choice. In theory, I like the idea of letting everything fail and beginning again from scratch. Realistically, we're in a situation where we need help. IMO. :7

I've been passing by those threads now, just to keep my blood pressure down. :hi:

[elleng]

4. Haven't heard from my guys yet. Chickens?

I suspect that 'letting everything fail' would be SO broad that beginning from scratch is not tenable.

I think that MOST businesses do business on credit (and unfortunately, so do 'most' of us.)

[susanwy]

3. I'm like Gately, sea-saw

I know that about 1/3 of my deferred comp was wiped out today and last week, only because a couple of the funds I was invested in were heavily into the investment banks that failed (I was afraid to actually look at the statement on-line). I don't know what funds my son's 429 are in, but I do know I have to send him to college next year. I know my credit card debt (according the the bank that issued the card) probably changed hands several times over the last week and who knows what interest rate they will charge to re-coup losses. I know I'm happy my home is paid for, but I'm worried about my husband's job (not mine, I work for government), they may not meet payroll. I know this could get pretty ugly.

What I don't know is if I could have trusted the bail out. Part of me felt it would calm things enough so we could get Obama into office and really tackle the problem responsibly. Especially since a provision was to only start with part of the 700B, not all at once. But the other half felt like it was just a big trap set by the repukes to win the election (see those evil democrats waste your tax money). I consider my self pretty well informed, but most of the public is not (IMHO) and the republicans won the PR game. I was so mad they blamed Pelosi! I can't stand her and have thought she should go some time ago, but this blame was unfairly placed. The repukes have been all over the media using code works like "this began in the 90's" - see Clintons, or "started in the 70's) - see Carter, or "Fannie/Freddie supporters made it to easy" - see Dodd, Obama or any other Dem who promoted home ownership, ect, ect. She makes one comment in her speech about deregulation being the cause and they cry like babies.

"There are known knowns. These are things we know that we know.
There are known unkowns. That is to say, there are things we know we don't know.
But, there are also unknown unknowns. These are things we don't know we don't know."

Who knew the Bush administration could find a way to make this statement make perfect sense.


:shrug:

[jillan]

5. I am sick about all of this.

I have a 401k and inherited some stock.
And since I'm not working . . . .

[PatSeg]

6. I'm numb

I don't know what to feel anymore. Maybe tomorrow I'll have a clearer idea.

[WheelWalker]

7. I'm dumb.

[PatSeg]

8. You're funny

Thanks, you made me smile.

[Eurobabe]

9. Corona has been in the line of fire all day

Hey Corona, how you feeling? :shrug:

[CrispyQ]

10. I'm economy ignorant, so take what I say worth a grain of salt.

;)

The fact that boosh wants this done so badly & quickly is what makes me suspicious. For all their "the world is going to end" rants, the market didn't drop that badly & today it's up.

The Trillion Dollar Wrong Thing
by Larry Beinhart

http://www.commondreams.org/view/2008/09/27-0

snip...

Reason #1 to be suspicious of the Big Big Bailout, is George Bush.

This is not a Bush bash, it's actually an analysis.
All major George Bush initiatives, and most of the minor ones too, have certain things in common.

#1: They're failures.
#2: They leave a big mess for other people to clean up. Someday.
#3: They make matters worse.
#4: Some small group of people profit from it, and they profit hugely.
#5: That profit comes from using the government to take money from ordinary people and give it to people who are already very rich and well connected

===
I would not support any bailout that doesn't have serious regulation & reform. Also no blank check for that asshole Paulson. Why the hell should we trust him?