HOUSE FAILS TO PASS MORTGAGE BAILOUT PLAN

[Clyde]

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.

 

Could it effect your fellow business owners when it comes to receiving loans to improve/grow the business?

[Milfordflash]

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.

If this just involved the greedy businesses it would be fine.Most everyones retirement is affected by this and will take a long time to just get back to even.A lot of people don't have that much time.

[titletownclown]

Could it effect your fellow business owners when it comes to receiving loans to improve/grow the business?

 

Absolutely. This is a very complicated issue which will have far reaching implications no matter what the final course of action of the Congress.

[Gunner11]

If this just involved the greedy businesses it would be fine.Most everyones retirement is affected by this and will take a long time to just get back to even.A lot of people don't have that much time.

 

 

Not true. If you are allocated to aggressively for your time to retirement that is your own fault. If you are 5 years from retirement/accessing funds in your 401k/investments/etc. you are probably benefiting from this as most of your money SHOULD be in bonds/fixed income which for the most part increase when stocks decline. IF you are 5 years or less away from retirement and still have 50 to 75% exposure to equities, that is your own fault. So like I said, make sure you house is in order first.

[Milfordflash]

Not true. If you are allocated to aggressively for your time to retirement that is your own fault. If you are 5 years from retirement/accessing funds in your 401k/investments/etc. you are probably benefiting from this as most of your money SHOULD be in bonds/fixed income which for the most part increase when stocks decline. IF you are 5 years or less away from retirement and still have 50 to 75% exposure to equities, that is your own fault. So like I said, make sure you house is in order first.

Thank goodness I don't have much in mine but it is in some of the least risky things available to me.It hasn't dropped to much but it is not going up either.

[titletownclown]

Not true. If you are allocated to aggressively for your time to retirement that is your own fault. If you are 5 years from retirement/accessing funds in your 401k/investments/etc. you are probably benefiting from this as most of your money SHOULD be in bonds/fixed income which for the most part increase when stocks decline. IF you are 5 years or less away from retirement and still have 50 to 75% exposure to equities, that is your own fault. So like I said, make sure you house is in order first.

 

However, with corporate bond porfolios, there will still be considerable exposure to market fluctuations especially if companies' bond ratings fall below investment grade ratings. Hopefully, we won't all be pushed into money markets and CD's.:cry::cry:

[woodsrider]

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

Believe it is a combination of that and Pelosi not being able to keep her trap shut. I stand corrected, Pelosi is the dumbest person alive with Frank close behind her.

[Gunner11]

However, with corporate bond porfolios, there will still be considerable exposure to market fluctuations especially if companies' bond ratings fall below investment grade ratings. Hopefully, we won't all be pushed into money markets and CD's.:cry::cry:

 

Same thing as before, risk/reward. Corporates carry more risk that treasuries. Make sure your house is in order based on your time frame and risk tolerance.

 

The bond market is many times the size of the stock market so I think there will be plenty of room for some of those equity dollars.

[Gunner11]

Thank goodness I don't have much in mine but it is in some of the least risky things available to me.It hasn't dropped to much but it is not going up either.

 

Just about any conservative bond fund will be up in value significantly today. The 10 year treasury is up 2 full points at 103 and change, which is a huge move for a bond.

[cvillecat]

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

:thumb:

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.

 

And what a joke Barney Frank is!!!!!! As you stated, he stands in front of all the media and blames the failed vote on the Republicans. Frank's remarks are what what I expected to hear when news of the vote was announced and I saw him approach the podium. "Left Wing" politics at it's finest moment.

To his credit though, he does do a great impression of Elmer Fudd.

[titletownclown]

"It's time to embrace the horror".

 

Dow down 700 and counting.

[Gunner11]

Market is 95% psychology right now and 5% fundamentals.

[titletownclown]

Market is 95% psychology right now and 5% fundamentals.

 

Absolutely.

 

721 and counting.

[Birdsfan]

It makes me very nervous to hear the commentators throwing around words like catastrophe, disaster, collapse and depression. Churchill was right about the terrible effects of fear. A thing like this can just feed on itself.

[AHSPanther23]

674 now.....