Well, all I can say is we better damn well hope this bailout package does what we’ve been promised to do… that it preempts a financial market collapse, prevents our economy from sliding into a prolonged recession, and essentially pays off a dividend as the junk debt we acquire eventually matures at face value.
Otherwise, Republicans will use this vote to beat the Dems into a bloody pulp in 2010, take back control of Congress and impeach Obama for, well, whatever in 2011. Or at least, I’m betting, that’s their cynical plan.
We are now a fascist economy. When the rich make profits they keep them. Losses are socialized.
What do you know? Jim McDermott listened to me. He voted no for this awful bill. Democrats are so @#%$ spineless!
Dori is ripping the Democrats a new hole over this. They are such chumps.
@1
Yeah, pretty much. Except that we’ll be borrowing the 700B so we’re owned lock, stock and barrel by the Chinese. I haven’t figured out how that fits in with fascism yet.
Who in WA voted for this travesty?
michael @4,
The Chinese are fascists. They say their communists. But it’s really fascism.
@6 Commie-fascism.
6 Maybe we and the Chinese deserve each other.
It’s a pretty safe bet that in a matter of months, Wall Street will once again be teetering on the edge of collapse, and Paulson or his successor will be back begging for permission to print another $700 billion or more to keep the whole leaky ship afloat. My guess is some time before the end of the year.
Maybe between now and then the dems could listen to someone besides their pals at the finance lobby and come up with a plan that would help the economy?
Meanwhile, let’s start now to run and vote for some real alternatives to the spineless McDermott, or pork-fed Norm Dicks, or the lobbyist from Boeing in tennis shoes Patty Murray.
Looks like the Republicans ahve pulled a “Lucy”. The Bush administration and Republican leadership pushed for it, Bush said he would veto any other proposal, then after being assured it would pass, lots of Republicans voted against it.
Like “Lucy” in the comic strips, she holds the ball for Charlie Brown to kick, pulling it away at the last minute for Charlie Brown to fall flat on his back.
Palin telegraphed the move last night, repeatedly making references to “greedy bankers” and showing that the Republicans now plan to try to salvage their campaign by directing anger against he economy and the bailout against the Democrats, who were forced into the package holding their noses, in what was claimed by the Republicans until today to be a necessary act of bi-partison cooperatin to save the U.S. economy from total collapse.
Yet one other example of the Republican total lack of ethics in a crass attempt to keep a toe-hold of power – perhaps enough to block futher investigations?
Gee, this doesn’t look like a vote of confidence:
“NEW YORK – Stocks took a tumble in the final hour of trading Friday, with the Dow Jones industrial average closing down 157 points, as credit markets remained strained after the House approved a $700 billion financial rescue plan.
While Wall Street was pleased by the bill’s passage, investors also confronted their worries about a prolonged economic downturn.
As lawmakers voted on the plan, the Dow was up more than 300 points. After it passed, the blue chips moved in and out of positive territory, but fell sharply as the trading day drew to a close.”
Stocks tumble after House OKs bailout plan
But once AGAIN the Dems offered no other plan. They could have passed emergency legislation to help directly with the credit crunch and then had a real debate on an actual plan to get folks working and paying their mortgages. They could have done dozens of things, but they went along with Bush AGAIN. And now folks here want to blame the Republicans for that? And put more spineless Pelosi following sheep like Burner in office?
I have a bad feeling about the bailout. Is it possible that the problem will work itself out, not because of, but despite, the bailout?
The bailout could be like the Surge in Iraq, making blown up streets and buildings full corpses safer with heightened American military presence.
14 One thing’s for sure: That $700 billion is going to get stuffed into the pockets of those who scarcely need it and sure as hell don’t deserve it.
impeaching Obama would not be necessary since he would be only one out of one hundred senators, and since the governor of Illinois would just replace him with a Democratic Party member anyway.