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By kellie

September 29, 2008 3:38 PM | Link to this

I think the bail out is wrong. If the democrats, along with their House Speaker, think it’s a good idea then why didn’t all of them vote for it? It could have easily pass with all the dems on board. There was too much pork added that would send money to groups like ACORN. Can’t Congress do anything right?

By Malikah Jessamy

September 29, 2008 3:38 PM | Link to this

MAYBE NOW THEY WILL MAKE SOME ARRANGEMENTS FOR THE STRUGGLING PEOPLE OF THIS COUNTRY. THE ONLY REASON THAT THEY WANTED THE BAIL OUT WAS SO THAT THEIR STOCKS WOULD BE THERE FOR THEM TO MAKE MONEY AND KEEP THE FUNDS IN FOREIGN ACCOUNTS OR ON THEIR JETS. THE AMERICAN PEOPLE DESERVE A BUYOUT NOT CORPORATE AMERICA.THIS IS THE ONLY WAY FOR THE FUNDS TO TRICKLE UP.

By kellie

September 29, 2008 3:40 PM | Link to this

I think the bail out is wrong. If the democrats, along with their House Speaker, think it’s a good idea then why didn’t all of them vote for it? It could have easily pass with all the dems on board. There was too much pork added that would send money to groups like ACORN. Can’t Congress do anything right?

By Common

September 29, 2008 3:40 PM | Link to this

Its about time that the policy holders in Washington woke up and smelled the coffee and realized the American people didn’t accept this crap of helping Wall Street Millionaires save their shirts at our expense…Thank you Jesus…

By jabster

September 29, 2008 3:41 PM | Link to this

If Big Money wants a bailout, give ‘em a bailout they’ll regret. Let Uncle Sam take over all of these upside-down companies and sell them to the highest bidder. If they don’t like it, just let them go broke.

Then use the proceeds to cover We The People’s losses on the takeovers, and put the rest to the national debt.

Not a nickel to ACORN, La Raza, or any other group like that.

Biggest no-brainer in the history of earth.

The free market works when you let it. If someone wants a government backstop, give it to them in a way they would never want again.

By hegelian71

September 29, 2008 3:44 PM | Link to this

Yes, they made the right decision. Let’s see if it will stick.
You watch, the Fed will now cut back on their liquidity—because they have been pumping money into the system for the last few weeks BIGTIME. Now, they will cut back, feign ignorance and say “See, we needed the bailout—now look at the crash we could have avoided had you passed this bill.” The problem is extortion. They are extorting from us more power without proper checks and balances— prolonging the inevitable. Oh, by the way the FED is PRIVATE! It is not government run— NOR has it ever been audited. See for yourself. Don’t get caught up in the red-herring argument— that says let’s block it because we don’t want to hand out the golden parachutes— NO— The argument is whether you want far reaching, Socialistic control of financial systems without proper oversight/judicial review, by a private power, etc…

By FINALLY!!

September 29, 2008 3:46 PM | Link to this

Finally! I was beginning to wonder if our reps would adequately represent us and vote like we wanted them to. I’m so glad they’re finally listening to us. We DO NOT want this bailout. We need them to protect us.

By h hudlow

September 29, 2008 3:46 PM | Link to this

I care for my finances and 401k. when i purchase a stock that losses money, its my fault an suffer.

When company operate improper and lose money they should suffer. CEO should not get 70 million.

By Steve

September 29, 2008 3:50 PM | Link to this

Anyone who thinks they really know the answer to this crisis is delusional. That said, I can only agree with this type of plan if there is stronger oversight on how the money is used. The guy in the White House should have no independent say on how these funds are allocated. A committee should be established that includes House, Senate, and Fed input. The commitment of any funds should require a high enough majority to block purely partisan decisions. That would make the process somewhat slower but it would help to curb the buddy system to some degree.

By white trash with money

September 29, 2008 3:50 PM | Link to this

Americans can not afford this nor can we afford to support the world! Maybe now people will realize this. Congress, just like Americans, are leaving BEYOND their means. It is time to make some serious budget cuts , starting with all the illegals. We can’t afford them!

By CJ

September 29, 2008 3:52 PM | Link to this

This all needs to self-correct. Bad decisions lead to bad consequences.

By Eric

September 29, 2008 3:53 PM | Link to this

Paulson’s priority is Wall Street, not the American People. Same for Bush and the Administration. The House rejection of this ridiculous bill shows that not only are Democrats awake regarding this issue, their Republican counterparts are paying attention as well. We are not going to sit around and give Paulson unchecked power over 700 Billion of our money to bail out a bunch of millionaires who have shafted the American people and our economy.

By Concerned

September 29, 2008 3:54 PM | Link to this

I’m concerned this was an emotional response. Bernake has studied the Great Depression and the economics of recession his entire life. He knows what to do. Why have we responded with anger and hurt ALL of ourselves in the long run with an economic downturn?

By Lea

September 29, 2008 3:54 PM | Link to this

The voters need to wake up and realize the Republican party is destroying this country. The market is not in a free-fall, and that isn’t good for anybody. These people continue to create problems, but refuse to be accountable… they’re much more comfortable discussing abortion and homosexuality. And John McCain is the worst. Where is he now that this bill has failed… why doesnt he jump out and take credit for this one.

By white trash with money

September 29, 2008 3:55 PM | Link to this

Americans can not afford this nor can we afford to support the world! Maybe now people will realize this. Congress, just like Americans, are leaving BEYOND their means. It is time to make some serious budget cuts , starting with all the illegals. We can’t afford them!

By Mike

September 29, 2008 3:55 PM | Link to this

In a selfish way I was hoping this might pass, so my 401k wouldn’t just disappear. I do NOT want to help bail out Washington. I do NOT want to bail out corporate CEOs. This HUGE fiasco didn’t just start recently. It’s been going on for YEARS and all because of greed from corporate banks, the mortgage industry, etc. and Wall Street. They have driven this country to the shape it is in now. For the first time in my life, I think our country is really in trouble. This will take YEARS to recover from. Not just a few….more like 10 to 20. We are in for some really bad times. All because of greed, and with everyone playing along, including our own government. It’s just like Vegas. You may win for a while, but sooner or later you’re going to loose it all. And that’s what has happened on a grand scale.

By K33F3

September 29, 2008 4:00 PM | Link to this

Our democrat congressman from the 4th, hank johnson, is a hypocrite…don’t stand behind your hero barack whenever it is good for your image and then vote against his recommendation along with your house leadership’s because it is “bush’s” idea. When will congress wake up to see that it is their job to help us and not themselves. Food for thought to the democrats out there…even Warren Buffett, barack’s top economic advisor and probably the most trusted financial mind in the world, said this deal needs to get done. Wake Up!

By Pjcpa

September 29, 2008 4:02 PM | Link to this

This is a fiasco of the governments making. This was on the radar 10 years ago in a NYT piece titled “Fannie Mae Eases Credit” It discussed Fannie succumbing to Clinton White House pressure to ease it’s credit standards:

“In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.”

Reelect no congressman before they vote on term limits. No more free ride for these guys.

By Pjcpa

September 29, 2008 4:03 PM | Link to this

This is a fiasco of the governments making. This was on the radar 10 years ago in a NYT piece titled “Fannie Mae Eases Credit” It discussed Fannie succumbing to Clinton White House pressure to ease it’s credit standards:

“In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.”

Reelect no congressman before they vote on term limits. No more free ride for these guys.

By Pjcpa

September 29, 2008 4:03 PM | Link to this

This is a fiasco of the governments making. This was on the radar 10 years ago in a NYT piece titled “Fannie Mae Eases Credit” It discussed Fannie succumbing to Clinton White House pressure to ease it’s credit standards:

“In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.”

Reelect no congressman before they vote on term limits. No more free ride for these guys.

By JOCK

September 29, 2008 4:03 PM | Link to this

I am with you h hudlow - someone needs to put a stop to the pay these CEO’s get! the people who actually do the labor make nothing - but the people sitting at the top reak all the benefits! Makes me sick and I for one think people need to say enough is enough!

By toni

September 29, 2008 4:03 PM | Link to this

Thank Goodness this didn’t pass. I have no sympathy for these businesses that made bad investments. When I make a bad investment I lose money the government doesn’t offer me a bailout. Yes, it is unfortunate that a lot of people are going to be hurt by this (including myself) but Greed and Lack of Ethics got us in to this mess!

By Steve

September 29, 2008 4:04 PM | Link to this

Thank God for Hank Johnson of Decatur, my house rep. Voted no and stated why. My thoughts also.

By The Truth

September 29, 2008 4:04 PM | Link to this

For all of you that are against the bailout, I hope you realize how ignorant you people are. I am a very conservative Republican and am ADAMANTLY opposed to big gvt. However, I am not willing to reap the financial punishment that is due to the failure of these massive Wall Street firms.

Some impacts that EVERYONE WILL feel if the bailout is not enacted: it will be nearly impossible to receive auto and home loans, home-equity lines of credit will dry up, many small businesses will not be able to make payroll as the overnight loans they obtain from banks to do so will be unavailable, etc.

If businesses are not able to make their payroll, they will be forced to let their employees go, leading to a HUGE rise in unemployment and a MASSIVE drop in consumer spending…leading to, you guessed it, MORE JOB LOSSES.

If people are unable to obtain auto loans, then the automobile industry will tank even further, driving even more people OUT OF THEIR JOBS. If people are unable to obtain home loans, then the ENTIRE HOUSING INDUSTRY (real estate companies, builders and the whole construction industry) will be driven into the ground, DRIVING PEOPLE OUT OF THEIR JOBS.

As unfortunate as it may be, our country’s economy is completely dependent on lines of credit being readily available to those that need it. When it dries up, AS WILL HAPPEN when these firms are allowed to fail, YOU AND ME will be in FAR WORSE shape than you can imagine.

Please do not be ignorant, thinking that this is just more of the same “Democrats wanting the government to rule our lives”. As a lifelong conservative Republican, THIS BILL MUST BE PASSED!

By MAD Dem Bank Analyst

September 29, 2008 4:05 PM | Link to this

Nancy Pelosi & Barney Frank need to learn to keep their mouths SHUT! They knew this was going to have trouble and they spent the weekend trashing Republicans.

Those of you that think this is about Wall Street, Millionaies, etal have NO IDEA what is about to happen!! The rich will be rich no matter what - it’s the Middle class that is about to disappear and suffer the most.

If you knew what was about to happen you would change your tune, but now it’s too late now we are all going to suffer!

Credit unions, savings & loans, etal have yet to disclose their mess. Regional banks like Main Street will be no more! There are going to be 5 or 6 large financial giants left. No more competition.

My institution (the one I WORK for) is set to fall in a matter of weeks - and we have NO subprime interests!

Thanks for the attitude Average Joe and thanks to Congress for screwing up middle America.

You think you are suffering now or claim that life is fine … just you wait!!!

By CW

September 29, 2008 4:06 PM | Link to this

A real bail-out would be to send every homeowner $50,000 to pay their bills. That’s a bail-out, not Wall Street

By CW

September 29, 2008 4:07 PM | Link to this

A real bail-out would be to send every homeowner $50,000 to pay their bills. That’s a bail-out, not Wall Street

By ATLien052

September 29, 2008 4:09 PM | Link to this

I’m shocked that such a liberal paper as the Atlanta Urinal Constipation has such conservative reponses. Only Lea appears to be dumb enough to buy the Democratic Party line that it’s the Re”pubic”cans fault. I’m proud of the readers for voicing their displeasure for this one.

By The Truth

September 29, 2008 4:10 PM | Link to this

For all of you that are against the bailout, I hope you realize how ignorant you people are. I am a very conservative Republican and am ADAMANTLY opposed to big gvt. However, I am not willing to reap the financial punishment that is due to the failure of these massive Wall Street firms.

Some impacts that EVERYONE WILL feel if the bailout is not enacted: it will be nearly impossible to receive auto and home loans, home-equity lines of credit will dry up, many small businesses will not be able to make payroll as the overnight loans they obtain from banks to do so will be unavailable, etc.

If businesses are not able to make their payroll, they will be forced to let their employees go, leading to a HUGE rise in unemployment and a MASSIVE drop in consumer spending…leading to, you guessed it, MORE JOB LOSSES.

If people are unable to obtain auto loans, then the automobile industry will tank even further, driving even more people OUT OF THEIR JOBS. If people are unable to obtain home loans, then the ENTIRE HOUSING INDUSTRY (real estate companies, builders and the whole construction industry) will be driven into the ground, DRIVING PEOPLE OUT OF THEIR JOBS.

As unfortunate as it may be, our country’s economy is completely dependent on lines of credit being readily available to those that need it. When it dries up, AS WILL HAPPEN when these firms are allowed to fail, YOU AND ME will be in FAR WORSE shape than you can imagine.

Please do not be ignorant, thinking that this is just more of the same “Democrats wanting the government to rule our lives”. As a lifelong conservative Republican, THIS BILL MUST BE PASSED!

By NO! Bailout

September 29, 2008 4:11 PM | Link to this

NO!! Bailout.

By atlresident

September 29, 2008 4:11 PM | Link to this

You people are incredibly ignorant of this situation and its implications. If these companies fail, our economy fails. No 401(k)s, no college funds, no pensions, huge unemployement, lower wages, no retirement. When we’re all working until we’re dead, we can high-five that we didn’t “bail out Wall Streeet.”

By PM

September 29, 2008 4:13 PM | Link to this

My thoughts - NO BAILOUT. Oh, you’re thinking I’m too dumb to know what might /probably will happen to the country. No, I am aware. It would just be so worth so much to see those disgusting wall street thieves pay, along with our wonderful president (thief/war monger/haliburton profiteer, etc), Mr. Paulson, and the rest of those in-the-know people (who KNEW what was happening for quite a long, long time) be out of their tainted stolen-from-the-middle-class money, working at a regular (OR NOT) job, and suffering (yes, actually suffering as opposed to be given a bunch of even more stolen $$ from the people). That’s what I want…. almost willing to suffer myself and lose my $200 K just to see it. Well, I’ve lost 1/3 of it already (thanks, you bas**ds). PM

By Byron Krause

September 29, 2008 4:14 PM | Link to this

Just one more things the Republicans are doing to enable the President to fulfill his bucket list to destroy the USA.

It is sad the the Rupublicans don’t realize the seriousness of this situation. But, I am just waiting to buy some their assets cheap.

By white trash with money

September 29, 2008 4:16 PM | Link to this

There is plenty of blame to go around. For anyone to say it is Bush’s fault is just plain ignorant. This started before Bush and won’t be fixed until long after Bush. It is time to clean house in Congress. They are the MOST at fault. Both sides. Most of them were there to make the bad laws that screwed things up. How do we expect the same group to fix it?

By Pete

September 29, 2008 4:20 PM | Link to this

I am glad that this did not pass. Why reward Wall Street for bad choices they made by bailing them out? If i get drunk and wreck my car, should I expect the government to give me money to get it fixed?

If I bought a house using iffy (ARM) mortgage loans and the rate increased beyond my means and had to go into foreclosure - then so be it…it would be my problem to fix - not the government’s. People take responsibility! I feel bad that you can not afford your house, but it was YOUR choice to buy it. If you had any questions or concerns about your mortgage - then you should of spoke up at closing! I have my own problems and I do not plan on paying for yours courtesy of the tax system. It is time to take a lesson from our parents - “if you can’t afford it then don’t buy it!”

By 250k with 25k income

September 29, 2008 4:22 PM | Link to this

WHO’S GREEDY?? Let’s get this straight- Everyone is talking corporate greed from main street to Penn. Ave. When an individual signs closing docs, aren’t they RESPONSIBLE for that mortgage contract? Doesn’t that individual KNOW what their real income is? Doesn’t it CLEARLY STATE on the contract what the interest rate or ARM rates are? When you sign these legal loan docs, does one say “well, if I can’t make these payments, someone else is responsible and it is someone else’s fault, not mine??” If a bank loans a mortgage on the HONOR SYSTEM, who signed the agreement? The bank or the individual? Did the bank or a realestate agent stand over this individual with a gun and make them sign? Given that the bad mortgages were sold and bundled into securities was a scam, the real problem began with the individuals who are really responsible - IN THE FINAL RESULT they are the greedy ones. Note: there are cases where loss of a job or a hardship developed, but all in all most of these individuals had no business buying a 250k home with a 25k income, Who’s greedy?

By Pete

September 29, 2008 4:22 PM | Link to this

I am glad that this did not pass. Why reward Wall Street for bad choices they made by bailing them out? If i get drunk and wreck my car, should I expect the government to give me money to get it fixed?

If I bought a house using iffy (ARM) mortgage loans and the rate increased beyond my means and had to go into foreclosure - then so be it…it would be my problem to fix - not the government’s. People take responsibility! I feel bad that you can not afford your house, but it was YOUR choice to buy it. If you had any questions or concerns about your mortgage - then you should of spoke up at closing! I have my own problems and I do not plan on paying for yours courtesy of the tax system. It is time to take a lesson from our parents - “if you can’t afford it then don’t buy it!”

By sam

September 29, 2008 4:23 PM | Link to this

as much as I hate golden parachutes for CEO’s and the thought of bailing out companies that screwed up… if the bailout doesn’t pass the whole economy is gonna go down the drain. This country runs on credit… if small businesses and consumers can’t borrow money we are in for another great Depression with mass unemployment and social unrest. Is that what we really want…I don’t.

By JPayne

September 29, 2008 4:24 PM | Link to this

That is what happens when corporations get greedy and pratice irresponsible business tactics giving out loans that they know are going to default. This sends a message to all of them to wake up be responsible. I am glad that bill did not pass because the CEOs do not need a free out from the working American people.

By CWS

September 29, 2008 4:27 PM | Link to this

I GOT NEWS FOR YOU, THE COUNTRY IS ALREADY IN A RECESSION, SO IF WE ARE TO BLAME ANYONE FOR THAT ITS THAT ASSHOLE IN THE WHITEHOUSE RIGHT NOW

By MAD Dem Bank Analyst

September 29, 2008 4:29 PM | Link to this

even Warren Buffett, barack�s top economic advisor and probably the most trusted financial mind in the world, said this deal needs to get done. Wake Up!

Agreed! Problem is - some of these posters on here probably are just deadbeats with a computer. These posters that don’t want the bailout obviously are not contributers to society, so why should they care what happens to the MAJORITY of Americans!!!

If you cannot take advice from one of richest, humbled, respected financial minds in modern history - you just don’t get it and never will!

It’s about to be the HAVES versus the HAVE NOTS. I know what side the majority of naysayers are going to be on. You are against the bailout to send a message to the rich, CEO’s and Wall Street. Well suprise, they don’t care because they will always be on top. You are just putting them HIGHER up the food chain!

Absolutely PATHETIC!

By Courtney

September 29, 2008 4:29 PM | Link to this

Jane- they are, it’s 11 percent APR, the term I’m not sure of, probably 1200 months — ha ha

By Ralph

September 29, 2008 4:30 PM | Link to this

After this vote today, come November if a politician has “incumbent” by their name on the ballot, I will NOT vote for them. Throw them ALL out.

By Brian

September 29, 2008 4:30 PM | Link to this

It’s the smartest thing that could have happened. There is proof all over the internet that this was all started by the Democrats trying to cater to people who think that the governments job is to give them everything they want whether they can afford it or not. This should be a wake up call to Washington that they work for us and not their self interests.

By Chris

September 29, 2008 4:31 PM | Link to this

I hope everyone on here still has a job at the end of this. I don’t like the plan, but it needs to happen to keep the economy going. I guess the Government can bail us out on Welfare, since we will all lose our jobs due to the defeat of this bill.

By Troglodyke

September 29, 2008 4:32 PM | Link to this

I sure as heck don’t want my 401K or my meager investments going up in smoke. I am 20 years from retirement, and I need all that time to build enough wealth to retire.

But I can’t say I’m sorry this didn’t pass. Why the h&ll should the middle class pay for this?!?! It’s ridiculous.

The people who took on more debt than they could afford, and the ones who convinced them that it was a good idea, are the ones to blame. This taxpayer wants nothing to do with her portion of $700 billion.

It just proves how out-of-touch the moguls and Republicans (and many Dems) are with the rest of the country. Why should the working folks pay for the stupidity of Wall St.?

By Carole Johnson

September 29, 2008 4:32 PM | Link to this

It seems to me that this Congress isn’t wanting to stay in DC to work this out…most seem to want to bail. Get real!

We are in the worst shape as a nation since the Great Depression. Where is the leadership of those we’ve elected to lead? I am absolutely sick of partisanship. We are all in this together, Republican or Democrat. It is time for solutions, not name calling and finger pointing. I can’t pretend to know the answers, but running out on the American people ISN’T the answer! WORK TOGETHER!!!!!

It is real simple to me: I will not vote for anyone who returns to Georgia to campaign instead of staying the course in DC to find a solution.

AND we are in a gas crisis in Georgia where people can’t get to work with no immediate relief. Where is our Governor? Not here….

By Courtney

September 29, 2008 4:33 PM | Link to this

Jane- they are, it’s 11 percent APR, the term I’m not sure of though, probably 1200 months — ha ha

By PM

September 29, 2008 4:33 PM | Link to this

Hmmm, wandering around in dirty clothes, lacking the food abounding the the ability to purchase it; car parked near my home that I wonder if I’m going to be able to hold onto it… Do I want that? I guess I need to be mature and say, no, I do not, but don’t you think it’d be great to see those Wall street A*les wandering about with us!? You know, the ones that several years ago, along with our government, our president, and surely Mr. Paulson, knew exactly what was coming down the tracks… Wouldn’t that be great!! the scene: smudged dirty face, wandering about our neighborhoods, no need to look for work ‘cause there’s none, most people w/o electric in their homes, cars parked… The bigger you are the harder you’ll fall. PM

By Shubie

September 29, 2008 4:34 PM | Link to this

Let’s recall Congress and have a new election!

By Allen Neal

September 29, 2008 4:34 PM | Link to this

This nation’s economy has been nothing more than a pyramid scheme built on higher and higher housing prices for the past 10 years.

Bill Clinton started it and George Bush did nothing about it.

We’ve forgotten that you have to earn what you have, that you cannot have prosperity based on nothing more than the rising expectations of others.

Yes, we may have a recession, and a prolonged one, but we have to fix our economy, and this is a first step.

By David

September 29, 2008 4:35 PM | Link to this

No one is FOR giving $700 billion away, BUT if the American economy fails due to a crisis in credit lending, no one gets paid, no one gets loans, and we are all screwed.

By Pete

September 29, 2008 4:35 PM | Link to this

Wake up Sam! The world will not fall apart if some executives don’t collect their compensation package…they can always file for Unemployment Insurance like the rest of us. I am sure there are plenty of companies that will be in line to grab these companies up at a bargain rate. I hope that these events will make the American people aware of just how far they live beyond their means, and that they are the only one to blame.

By michelle

September 29, 2008 4:35 PM | Link to this

if congress would just use this money to bail out main street instead of wall street, then the economy would be restimulated in no time.

just give every tax payer with a debtload a piece of the pie to pay off that debt, and then the people would have money to spend in the economy. my husband and i combined carry about $75K in debt….wash that from us and we are free to spend spend spend.

and while we’re talking about suspending taxes (capital gains), why not suspend the criminal income tax so that allows people to spend as well? the income tax only goes to pay off the interest of our national debt anyways, which is only getting bigger and not being paid down as we speak…

By Courtney

September 29, 2008 4:36 PM | Link to this

Jane- they are, it’s 11 percent APR, the term I’m not sure of though, probably 1200 months — ha ha

By Courtney

September 29, 2008 4:36 PM | Link to this

Jane- they are, it’s 11 percent APR, the term I’m not sure of though, probably 1200 months — ha ha

By Courtney

September 29, 2008 4:36 PM | Link to this

Jane- they are, it’s 11 percent APR, the term I’m not sure of though, probably 1200 months — ha ha

By martin

September 29, 2008 4:36 PM | Link to this

well i guess the NWO.NEWW WORLD ORDER ARE MAD AS HELL. they wanted their rich buddie to get their money back.

and again to inflante all those interest gains in stocks for profits.

I guess the NEW WORLD ORDER the NWO has to come with new scheme that that the stock market is a PRYAMID SCHEME with inflated profits. and i aint talkig about nwo of wrestling.. THERE IS a NEW WORLD ORDER that wants to enslave the american people and work for mininum wage and they control all the WEALTH and property.

By martin

September 29, 2008 4:37 PM | Link to this

well i guess the NWO.NEWW WORLD ORDER ARE MAD AS HELL. they wanted their rich buddie to get their money back.

and again to inflante all those interest gains in stocks for profits.

I guess the NEW WORLD ORDER the NWO has to come with new scheme that that the stock market is a PRYAMID SCHEME with inflated profits. and i aint talkig about nwo of wrestling.. THERE IS a NEW WORLD ORDER that wants to enslave the american people and work for mininum wage and they control all the WEALTH and property.

By martin

September 29, 2008 4:37 PM | Link to this

well i guess the NWO.NEWW WORLD ORDER ARE MAD AS HELL. they wanted their rich buddie to get their money back.

and again to inflante all those interest gains in stocks for profits.

I guess the NEW WORLD ORDER the NWO has to come with new scheme that that the stock market is a PRYAMID SCHEME with inflated profits. and i aint talkig about nwo of wrestling.. THERE IS a NEW WORLD ORDER that wants to enslave the american people and work for mininum wage and they control all the WEALTH and property.

By Shubie

September 29, 2008 4:37 PM | Link to this

Let’s recall Congress and have a new election!

By Shubie

September 29, 2008 4:39 PM | Link to this

Let’s recall Congress and have a new election!

By 250k with 25k income

September 29, 2008 4:42 PM | Link to this

To JPayne That is what happens when individuals get greedy and practice irresposible borrowing, getting loans that they know they can’t pay and will default on.

By Michelle

September 29, 2008 4:47 PM | Link to this

Why doesn’t the government take over the bad companies - clean house - get them running - and sell them for profit to help the deficit? I also wonder if Wall Street is hiring - I would love that job that I can run the company in the ground and walk away with $17+ million.

By The Gm

September 29, 2008 4:50 PM | Link to this

When people figure out that their retirement accounts have been severly hurt by the failure of this bill then they will be wishing they had encouraged their representatives to vote yes. Be reasonable people, if the economy / banking system fails where will you be ?

By jwatl

September 29, 2008 4:55 PM | Link to this

What lost today’s vote was the current speaker (Nancy Pelosi)! What possessed her to lambast the republicans prior to this critical vote is totally beyond me, BUT SHE IS NO LEADER! Through her partisan speech today, she set up some members who may lose on November 4 — not against them as much as there will be a vote against HER!!

The Good LORD was probably looking down on us, for this was a clear vote NO FOR SOCIALISM!!

There is enough blame to go around on this fiasco. The Financial Services Modernization Act of 1999, started the ball rolling. And while there is a lot of blame to be placed on the Administration for not ram rodding more regulation through, there is a lot of culpability in Franklin Raines (Clinton’s former OMB chief), Jim Johnson (initially Obama’s VEEP search committee chair) and Jamie Gorelick (all over the Clinton administration — DOD & Justice to name two), and their cheer leaders in Congress. Candidly, it is probably time for a new chair of the banking committee. Barney Franks provided a lot of cheerleading to keep lose credit going, as did Chris Dodd in the Senate.

Point being, it is time for new leadership in the House and Senate. We cannot afford the current speaker any longer. In the largest vote of her career — she lost! 40% of the Democrats DID NOT VOTE FOR THE BILL!! Historians will ask the rhetorical question: WHAT WAS SHE THINKING?????

By Lateesha

September 29, 2008 4:57 PM | Link to this

These bailouts are just for rich white people—I’m not going to get any benefit from any of this, so I’m glad they voted it down. They need to give me money to help me pay my rent—the government benefits I get now are not enough to pay all my rent and other living expenses.

By Mike

September 29, 2008 4:58 PM | Link to this

I am not sure Congress really understands the implications of not voting for some kind of relief ASAP. The credit markets are already tightening up, and no plan will lead to a liquidity crisis, accelerate and cause a recession for sure, and perhaps worse. Please Georgia Congressmen, put politics aside, and find a solution.

By Mike

September 29, 2008 4:58 PM | Link to this

I am not sure Congress really understands the implications of not voting for some kind of relief ASAP. The credit markets are already tightening up, and no plan will lead to a liquidity crisis, accelerate and cause a recession for sure, and perhaps worse. Please Georgia Congressmen, put politics aside, and find a solution.

By Pete

September 29, 2008 4:59 PM | Link to this

You don’t have to go to Wall Street, Michelle - just apply for HomeDepot corporate!

By Jay

September 29, 2008 4:59 PM | Link to this

What about those of us who have been steadily saving in our 401K plans and now it’s all going to be lost? It’s not just Wall Street they’re bailing out—it’s all of us. Are you too stupid to see that?

By Malcolm Lorimer

September 29, 2008 5:02 PM | Link to this

Here’s better idea than the “bailout” sen to me last week. I’m against the $85,000,000,000.00 bailout of AIG.

Instead, I’m in favor of giving $85,000,000,000 to all Americans as a ‘Dividend’.

To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens 18+ Our population is about 301,000,000 +/- counting every man, woman and child..So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals to a hefty ‘$425,000.00’

My plan is to give $425,000 to every person 18+ as a ‘Dividend’ Of course, it would NOT be tax free. So let’s assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25.5 Billion right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife have $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage � ‘housing crisis solved’ Repay college loans � ‘a great boost to new grads’

Put away money for college � ‘it’ll be there’Save it in a bank (if there are any left) ‘create money to loan to entrepreneurs’

Buy a new car � ‘create jobs’

Invest in the market � ‘capital drives growth’ Pay for your parent’s medical insurance =E 2 ‘health care improves’ Remember this is for every adult U.S. Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company, including the ones who are about to loose their jobs at G.M. If we’re going to re-distribute wealth let’s really do it…instead of trickling out. If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+

As for AIG � liquidate it and Sell off its parts. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.

Here’s my rationale. We deserve it and ‘AIG doesn’t’ we were not invited to the last 10 years of ‘party time’ bonuses

And remember, The this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Hmmmm….imagine what we could do with $700 Billion! Just a thought that seems to make sense.

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By Thom

September 29, 2008 5:06 PM | Link to this

Bravo to the GOP for voting no to this Bailout, to Lateesha this is not about race…. Obama voted yes, think about who you are voting for….

By godoggo

September 29, 2008 5:06 PM | Link to this

….MAD Dem Bank Analyst….well said, as someone who votes for the best candidate….as sn American im Appalled at Nancy Pelosi’s horrific remarks today…..she showed herself as a very spiteful human against her collegues…SHAME on you. I beg you if your eligible to vote, GET THEM OUT of office….Shame on you. We think getting gas is hard now…wait until Spring….i would buy all your groceries now, store fuel, get your “credit” in a row….this is not only a bail-out of Wall street, but Main street……and we will feel it Sooooon ! Can i get an Amen ? Holler if ya hear me ?

By wwshredder

September 29, 2008 5:08 PM | Link to this

So in order to stop my $4,000 in taxes(that we are going to borrow from china to be repaid at a later date) from being used to buy assets that can be resold,(with the guarantee of stock as collateral if sold at a loss) I need to take a $13,133 dollar loss in the stock market. I can’t wait to add up the damage to the 401k and mutual funds tonight.

It’s amazing how little most of the electorate knows about finance. But then again if they actually knew about it we wouldn’t be in this mess.

By Herb K

September 29, 2008 5:16 PM | Link to this

This is beautiful! No bailout, ever AND the market drops. I am hoping the market continues to drop back to 7000. The banks & wall street firms involved need to go under along with their overpaid & underworked employees. I am loving this.

By godoggo

September 29, 2008 5:16 PM | Link to this

….Main street thiks this doesn’t affect them….haha….wait till Atlanta city workers and other Govmnt employees get there “Pension and Retirement” account statements next month……and there down 30%……you’ll see it wasn’t just Wall street…..they will be Beatin the doors down at the GSA……then well have to reimburse them for there plunder and loot…..where does this Greed and Entitlement End. Can i get an Amen ?

By rob

September 29, 2008 5:16 PM | Link to this

Hey Jay, Dont sweat the small stuff. The dow has risen 10% year over year over thirty years even through the great depression. Just sit tight . Dont borrow what you cant pay for and you wont even feel any pain from this market correction. Its long overdue. My uncle was telling me about this bubble ten years ago wen everyone else was poo poohing it.

By Henry O

September 29, 2008 5:20 PM | Link to this

I would like all their resignations in the morning. I would revoke all their passcards and send them on their way. They have let down the American people and there can be no second chance.

The “HOUSE” must be cleaned out and we need to do it NOW!!!!

By J. Hernandez

September 29, 2008 5:21 PM | Link to this