HOUSE FAILS TO PASS MORTGAGE BAILOUT PLAN

[Royal Uncle]

Wall Street will recover from this without government help. I am happy to see this $700B form of socialism fail.

[Covercorner]

Wonder how long and how far the markets will drop now? Over 500 points so far.

[woodsrider]

I'm not sure how I feel about this.

[98NCCalum]

Wonder how long and how far the markets will drop now? Over 500 points so far.

They were down before the vote, it's actually up since the vote.

[Gunner11]

I find it funny that Barney Frank blamed the Republicans for why the bill failed when 94 house democrats voted against the bill... Both sides clearly disagree with a lot of what this bill contains or else you would have seen broader support to get the bill passed.

[halfback20]

I find it funny that Barney Frank blamed the Republicans for why the bill failed when 94 house democrats voted against the bill... Both sides clearly disagree with a lot of what this bill contains or else you would have seen broader support to get the bill passed.

 

Around 60% of Democrats voted for it, while less than 1/3 of Republicans voted for it.

[sportsfan41]

I find it funny that Barney Frank blamed the Republicans for why the bill failed when 94 house democrats voted against the bill... Both sides clearly disagree with a lot of what this bill contains or else you would have seen broader support to get the bill passed.

 

Ha well he wouldn't dare blame democrats... lol

[woodsrider]

I find it funny that Barney Frank blamed the Republicans for why the bill failed when 94 house democrats voted against the bill... Both sides clearly disagree with a lot of what this bill contains or else you would have seen broader support to get the bill passed.

That's because Barney Frank is the dumbest person alive.

[woodsrider]

Around 60% of Democrats voted for it, while less than 1/3 of Republicans voted for it.

They knew the Republicans weren't going to vote for it. Would the bill have passed if all Democrats would have voted for it? (I really don't know).

 

Alot of Democrats got cold feet about losing their job in November and back out.

[titletownclown]

As my favorite character actor, Steve Buscemi, said in the movie Armageddon, "It's time to embrace the horror".

[Clyde]

IMO those that voted against it did so for one reason: elections are in 5 weeks. If not for that, this would have passed.

[Gunner11]

Around 60% of Democrats voted for it, while less than 1/3 of Republicans voted for it.

 

If you are the "leadership party" I would think you would have more than 40% of your party voting against a bill that you brought to the floor. A civics lesson for you. When you are the leadership party you get information from the minority party as to how many of their votes are going to be for the bill. The democrats knew that number to be 40 to 60. Therefore they knew how many votes of their own party they needed and they did not have enough of their own, which is surprising that Pelosi would bring it to a vote... Actually I am not surprised as Pelosi is almost as useless as teets on a mule.

[Gunner11]

IMO those that voted against it did so for one reason: elections are in 5 weeks. If not for that, this would have passed.

 

Correct, which is why they need to work out the details of this much further before it comes to a vote.

[titletownclown]

I'm actually torn on this issue. On one hand, as a business owning, liberal bashing, capitalist, it bothers me greatly to see the government bailout businesses that absolutely deserve to fail due to horrendous business practices and unfettered greed.

 

On the other hand, multiple bank failures and the failure of other financial services businesses could create a "panic" on Wall Street and Main Street USA which could lead to an economic collapse that could take years to repair.

[Gunner11]

I'm actually torn on this issue. On one hand, as a business owning, liberal bashing, capitalist, it bothers me greatly to see the government bailout businesses that absolutely deserve to fail due to horrendous business practices and unfettered greed.

 

On the other hand, multiple bank failures and the failure of other financial services businesses could create a "panic" on Wall Street and Main Street USA which could lead to an economic collapse that could take years to repair.

 

I am torn as well. As a free market proponent, I almost would rather see it all get wiped and start over. Those that have not kept their financial house in good order, time to pay the piper.