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Monday, September 29th, 2008
Bailout Fails

Oh boy. Didn't see this one coming. Even lots of Democrats against it.

What an interesting time this is to be alive. I wasn't all that thrilled about the plan, but never heard a better alternative....
30 Comments
nheinzel
1) I have another word instead of "interesting."
!   Monday, September 29, 2008
SallyPants
2) I better go find a stick, a handkerchief, and a rail car.
SallyPants   Monday, September 29, 2008
BrianHamrick
3) There is some talk of another bill coming later in the week...

But until then, the Dow has decided to demonstrate that gravity is always on...
Brian   Monday, September 29, 2008
BrianHamrick
4) Perhaps we will see the worst round of finger pointing we've ever seen this week.... more reasons we need a viable third party in this country! Where's Ross Perot when you need him?
Brian   Monday, September 29, 2008
_DELETED_hayley
5) He's hiding his money, Brian.

What's exciting for me is I have Wachovia. I'm a little concerned. the greater portion of my student loans are thru citibank and citigroup just bought wachovia. they own me now. what's interesting is, wasn't citigroup one of the ones they talked about going under just months ago? how does that work - an almost bankrupt institution buys out a bankrupt one? seems like an awful idea to me.
Hayley   Monday, September 29, 2008
BrianHamrick
6) LOL.

Yes, Citi was in a lot of trouble... not sure how that works out either- maybe Citi has all its hopes on some form of bailout coming their way (or, by making themselves bigger, maybe they become a bigger target for getting govt help)
Brian   Monday, September 29, 2008
hawkwolf
7) If you still owe the Student Loans, you can't hide from paying them. When you get ready to draw Soc.Security, all Student Loan Records are checked. Any body that took out Student Loans and got Pell Grants should not be excluded. As far as the House Action is concerned,it will hurt Obama more than McCain because Nanci and the children welshed on their promises.
BeanCounter37   Monday, September 29, 2008
_DELETED_hayley
8) well the buyout was with the government help - but how that makes sense for the government to help a fledgling financial institution buyout a broke one just scares me. are we that desperate?
Hayley   Monday, September 29, 2008
hawkwolf
9) Nancy,You should know what this news means to your home town don't you? Do you realise that Wachovia is the only advertisement allowed in the Dean Dome?
BeanCounter37   Monday, September 29, 2008
hawkwolf
10) Brian, I can't understand the Cities/Wachovia thing,either.
BeanCounter37   Monday, September 29, 2008
hawkwolf
11) Maybe FDIC thought if you took 10#. of Garbage and merged it with 20#s of Garbage,you would get a stronger structure. Well it doesn't work that way!!!! many Home Mortgages in North Carolina and the other Southern States were served by Wachovia, along with a lot of Auto Loans.
BeanCounter37   Monday, September 29, 2008
hawkwolf
12) Sally Pants, you don't think the Rail Roads aren't owned by the Banks, do you?
BeanCounter37   Monday, September 29, 2008
justmeg
13) How many comments can you leave in a row?? Why not combine them all into one post Beano?
justmeg   Monday, September 29, 2008
carriepassante
14) You noticed that, too. Seriously.
Carrie   Monday, September 29, 2008
gotshoo
15) Rail Roads, banks.... if I pass go, do I still get $200?
shoo   Monday, September 29, 2008
Joe
16) Shoo, pay your "Luxury Tax" before taking a walk on the Boardwalk.
Joe   Monday, September 29, 2008
hawkwolf
17) Meg I enjoy commenting on some of them, not all of them. Personally, I thought Sally Pants made a very truthful comment and it backs up the fact that she is very comical person based on what she has learned as a History Scholar.
BeanCounter37   Monday, September 29, 2008
soundchick
18) I heard the Republicans were the ones who squashed this deal. I love how some people always say that the evil democrats are the ones to ruin everything. Here's a great example: "You know, I went into the restroom today at work and they were all out of toilet paper. Must be the fault of House Speaker Pelosi and the Democrats!"
soundchick   Monday, September 29, 2008
dazedpink
19) I think some of the problem was the Dems trying to pad the bill with riders...such as putting money into Acorn (a supposed non-partisan group who has indorsed Obama).

Also, since Republicans are the minority in Congress, some Dems voted against the bill as well...94 I believe?
Jules   Monday, September 29, 2008
mattpike
20) The failure today is truly the fault of the American people, I think. I've heard that the phones have been swamped by lots of angry citizens. I'm sure that came into play for those representatives that voted nay. This issue is still beyond me. I really don't know the answer, and I think that most people fall into that category. I do know that Charlotte will take a huge hit from Wachovia's failure, and that does not bode well for me or my business, as well as the entire Charlotte, and North Carolina, economy.
Things are not looking good for the near future.
mattpike   Monday, September 29, 2008
mattpike
21) The partisan bs I heard on the radio today, and the comments above, will perpetuate and accelerate this country's demise faster than you can say 'credit default swap'. Grow up people, this is a big deal, and it scares me that our nation seems to be run by children.
mattpike   Monday, September 29, 2008
dazedpink
22) It seems to me that partisan bs had something to do with the failure of the bill to pass. I think members of Congress (both sides of the aisle) are the ones who need to grow up.
Jules   Monday, September 29, 2008
soundchick
23) I just hope I am not seeing the new "Great Depression" with the happenings at the stock market today.
soundchick   Monday, September 29, 2008
_DELETED_hayley
24) I've been saying for a year that we are heading for a depression. I'm just glad I stocked up on food.

I don't think it's possible to compare the great depression to what is happening here; the world is far too different now. I'd say the "New Depression". I'll give it 3 years to get back up - in the meantime, I'm going to leave big life changes for when the economy's not crapping all over itself.
Hayley   Monday, September 29, 2008
Scott
25) shoo, I don't think anyone's going to be passing go for a while.
Scott   Monday, September 29, 2008
mattpike
26) Get out of jail free cards seem to be plentiful.
mattpike   Monday, September 29, 2008
BrianHamrick
27) At this rate, I won't even be able to afford a shack on Mediterrean Avenue.
Brian   Monday, September 29, 2008
RickMonday
28) Pelosi sure didnt help things by going into a Hate Bush speech right before the vote. This broad is so out of touch with the American people it is laughable.
RickMonday   Monday, September 29, 2008
LaurieRogers
29) I am glad I am a nurse - with all of this news today the health care system will be booming! Sad isn't!
Laurie   Monday, September 29, 2008
RickMonday
30) check out this video regarding freddie and fannie and the crooks associated with those 2 entitities

http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=Play...
RickMonday   Monday, September 29, 2008
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