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Rescue Plan released; What does it mean?

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  • #31
    Originally posted by Aeson
    Virtually everything in that bill is left to his discretion...
    Exactly, which is why there's a good chance this will fall apart at the seams. Timex's article shows that the House support is already tepid at best.
    Unbelievable!

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    • #32
      Originally posted by Darius871


      Exactly, which is why there's a good chance this will fall apart at the seams. Timex's article shows that the House support is already tepid at best.
      The GOP Caucus is probably going to be locking itself in a room tomorrow playing legislative Russian Roulette trying to figure out who has to vote for it
      If you look around and think everyone else is an *******, you're the *******.

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      • #33
        We are ****ed.

        Edit: I just read much of the bill. Correction. We are ****ed for sure. If you are heavily invested in any U.S. assets, get your cash the hell out, now. This is only delaying an even bigger disaster.

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        • #34
          We are ****ed regardless. No easy way out of this mess.
          “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
          - John 13:34-35 (NRSV)

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          • #35
            Stockmarkets around the world tumbled this morning as doubts grew over the effectiveness of the $700bn (£380bn) US bail-out plan for the financial industry, which is expected to be sent to Congress later today.

            Wall Street sharply lower, pushing the FTSE 100 down 5.3%, as doubts grow over effectiveness of $700bn US bail-out plan
            "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
            -Bokonon

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            • #36
              110 pages...up from--what was it--3?


              It didn't take too many pages to declare Paulson dictator. Honestly, that's what gives me the most pause about this deal. We're going trust some dude who suggested to Congress that they give him $700 billion with no accountability. This is going to be some greasy business (even if some absolutely necessary steps are probably going to get made as well). Warren Buffet put $5 billion into Goldman-Sachs for a reason, and it isn't altruism. At least it's "only" $350 billion.
              "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
              -Bokonon

              Comment


              • #37
                Originally posted by Ramo
                At least it's "only" $350 billion.
                ...to start.
                The cake is NOT a lie. It's so delicious and moist.

                The Weighted Companion Cube is cheating on you, that slut.

                Comment


                • #38
                  Congress has to appropriate the rest. Hopefully, they'll have the presence of mind to be a little more cautious...
                  "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                  -Bokonon

                  Comment


                  • #39
                    What, in the history of EVER and a day, gives you the idea that Congress is capable of having presence of mind OR being a little more cautious? $350bn will NOT be the final price tag. I won't be the least bit shocked when it hits the trillion dollar mark, only galled.
                    The cake is NOT a lie. It's so delicious and moist.

                    The Weighted Companion Cube is cheating on you, that slut.

                    Comment


                    • #40
                      Yeah, but Paulson probably isn't going to supervise the rest. Which may make the process somewhat less egregious...
                      "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                      -Bokonon

                      Comment


                      • #41
                        “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                        - John 13:34-35 (NRSV)

                        Comment


                        • #42
                          I'm not saying it won't be greasy. It obviously will. But I don't trust Paulson at all at this point. I'm just glad that Bernanke is where he is...
                          "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                          -Bokonon

                          Comment


                          • #43
                            Do you ever wonder if they sit back in their smoke filled room and laugh their asses off that they are allowed to get away with things like this or do they just take it for granted now?


                            Which side are we on? We're on the side of the demons, Chief. We are evil men in the gardens of paradise, sent by the forces of death to spread devastation and destruction wherever we go. I'm surprised you didn't know that. --Saul Tigh

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                            • #44
                              Leadership!

                              DETROIT — The financial crisis is the only thing Barack Obama and John McCain talk about these days.

                              But neither nominee would commit Sunday to actually returning to the Senate this week to vote on the $700 billion bill aimed at preventing widespread economic collapse.

                              The dichotomy between their campaign trail rhetoric and their absence in the Senate is nothing new in this presidential race. Both nominees have spoken extensively in their travels over the last 20 months about bills on which they do not vote because they could not make it back to the Senate.

                              Yet no other piece of legislation has dominated the debate in this election cycle nearly as much as the financial bailout.

                              Though McCain took the unusual step last week of threatening to skip the first presidential debate to focus on the crisis, he may not make it back to Capitol Hill to weigh in on the legislation.

                              “It’s impossible to know until the vote has been announced,” McCain spokesman Tucker Bounds said Sunday.

                              The Obama campaign was equally noncommittal.

                              “We are closely monitoring the vote schedule,” Obama spokeswoman Jen Psaki said. “Senator Obama has always said that when the vote is close and his vote is needed he will be there.”



                              "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                              -Bokonon

                              Comment


                              • #45
                                Should members of Congress be required to give up their seat when they run for President or Vice President? I think they should, and I mean even during the primary stages.
                                Which side are we on? We're on the side of the demons, Chief. We are evil men in the gardens of paradise, sent by the forces of death to spread devastation and destruction wherever we go. I'm surprised you didn't know that. --Saul Tigh

                                Comment

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