Home > Jay Bookman > Archives > 2008 > September > 29 > Entry
Now what? Bailout plan in big trouble
The Atlanta Journal-Constitution
Bailout plan rejected; Dow Jones down more than 600 points.
They’re leaving the vote open for now, so major arm-twisting is no doubt underway.
But it doesn’t look good.




DEL.ICIO.US


Comments
By Davo
September 29, 2008 1:51 PM | Link to this
Good
By Paul
September 29, 2008 1:54 PM | Link to this
The first time Pres Bush and the Democratic Congress agree on something…
By RealityKing
September 29, 2008 1:59 PM | Link to this
God help the next president..
By GOPs got to go
September 29, 2008 2:06 PM | Link to this
God help my 401K and the next President.
By Taxpayer
September 29, 2008 2:08 PM | Link to this
Hopefully, this current economic mess will be sufficient to get people up off their buttocks and out to vote. We’ll see first-hand if people do indeed vote their wallets. This will be interesting.
By getalife
September 29, 2008 2:09 PM | Link to this
That is a bad sign Paul.
The American people have finally won.
The lobbyists finally lost.
This is a great sign.
Now, call on the resignations of w, cheney, paulson, bernanke, hell all of them.
Let the heads roll and let the market correct.
By getalife
September 29, 2008 2:11 PM | Link to this
Yahoo!
Go home Congress.
Leave on a high note for the elections.
By Felix
September 29, 2008 2:20 PM | Link to this
Children being children. The loony left and the loony right don’t have a clue as to how our economy works, just like their constituients that think there is a Social Security trust fund and their tax dollars are bailing out Wall Street. This package has to pass so that the next administration can right the ship.
By Midori
September 29, 2008 2:22 PM | Link to this
Paul never fails to get in his little digs, does he?
By Danny the red
September 29, 2008 2:24 PM | Link to this
Mr. Rove. All his fondest wishes now vindicated.
Republican rule in its finest hour.
By getalife
September 29, 2008 2:30 PM | Link to this
Midori,
All that Billo has rubbed off on him.
Ewwwww.
By hillbilly ragger
September 29, 2008 2:32 PM | Link to this
Better suspend that VP debate!
By Felix
September 29, 2008 2:32 PM | Link to this
Good grief! See you in bankruptcy court or the soup kitchen!
By getalife
September 29, 2008 2:36 PM | Link to this
And of course Paul is wrong.
The dems usually cave like FISA, IRAQ, etc.. to w like with this bailout.
Not the first time Paul but hopefully the last.
Dems should dump their leadership.
The gop listened to their voters and not lobbyists this time. The election is too close.
By getalife
September 29, 2008 2:40 PM | Link to this
Back to the blame game.
Go home while we saved our children 700 billion.
By AJC/DNC Management
September 29, 2008 2:41 PM | Link to this
Remember everybody, McCain had nothing to do with it.
But Oblahma did, and he couldn’t get it done.
Defeated like a dog.
Probably makes him happy to be beat like that, little surrender monkey.
By Paul
September 29, 2008 2:44 PM | Link to this
Midori
Digs? Just depends on the point of view with which you read it.
Meant it more as a quip, but getalife, I do stand corrected, in all seriousness. Pres Bush and the Democratic Congress have agreed before. As you pointed out, “like FISA, IRAQ, etc”
To which I’ll add, ‘torture.’
Now that’s a dig!
By Midori
September 29, 2008 2:45 PM | Link to this
Andy,
I wasn’t aware that Obama was in the House of Representatives?
By Dusty
September 29, 2008 2:45 PM | Link to this
So… there is actually work and dabate and conversation and votes in Congress. About time somebody decided to work together on something.
What next? Pelosi declares a recess so nobody can vote in the House?
Barney Frank’s gonna claim (again) he’s been trying to prevent this for years?
President Bush tries to tell us (again) that this is dangerous??
Liberals (like Bookman) try to hide their joy over a crisis in America. Such a good time to blame Republicans (BUSH hate) and get revenge for losing THOSE elections. Kinda hard not to smile, huh Jay?
By RealityKing
September 29, 2008 2:46 PM | Link to this
Come on guys.. Did you really think that our pitiful 110th Congress was actually going to work together!?
By T
September 29, 2008 2:48 PM | Link to this
Well, so much for retirement. Good thing I have a while before that happens. Maybe I’ll start collecting cans and copper wires.
* Anyone know what or why there is a hold up?* Or perhaps they want the market to fix its self?
I don’t know how I feel about the giant hand out to wall street. Mixed emotions. However, I don’t want to live off of ooodles of nooodles with a house that is worth the same as the guy that lives in the card board box by the train tracks.
By K_Chub
September 29, 2008 2:48 PM | Link to this
AJC/DNC Management,
Hold on a second - your Conservative idol Wooten wrote a blog earlier praising McCain for his work in getting this bailout package passed and now that it has failed you want to blame it on Obama.
I can make stuff up and play dumb just like you, but in the end who are you trying to convince? Are you actually delusional enough that you think you speak to people - that your rants have cause anyone to look at something differently. The problem with Blog’s is that they give an idiot like yourself a forum to show how much of an idiot you are to the whole world. It used to be village idiots just stayed in the village, but now with Blogs you can be global idiots.
By getalife
September 29, 2008 2:48 PM | Link to this
Ouch Paul.
That is why I am Independent.
Both parties suk.
I think we can all agree to that fact.
By Midori
September 29, 2008 2:49 PM | Link to this
Crusty - I think you have a “thang” for Jay.
Or are you Mike posting under another name?
By DebbieDoRight
September 29, 2008 2:50 PM | Link to this
Totally off topic but have to respond:
From Paul: I was considering how things were going with the Army and your husband but did not want to intrude. Thanks for the fill-in. If only our politicians could learn the art of compromise, too.
Well I’ve shelved the divorce for now. I never notified DudleyDoRight about it anyway — I didn’t want to do it while he was in Afghanistan (didn’t want to do a Dear John letter), so I decided to wait until he came back stateside on leave. Dudley must’ve sensed something wasn’t right, because he came home and said all the right things,(also he looked REAL GOOD when he got back!!) So, long story short; when his tour is up he’s getting out for good. However, he was squawking about going back to Afghanistan as a civilian contractor to make big bucks.
Paul it’s HARD being married. I had NO IDEA how hard it was trying to make a marriage work. It’s doubly hard being married to a Marine who’s overseas serving his country! Especially during the holidays, St. V Day, etc., when everyone else has their mate but yours is off somewhere else. And Celibacy ain’t for sissies — especially when I live in a State that has LOTS of good looking men just falling out of the woodwork. I deserve a medal.
By Davo
September 29, 2008 2:52 PM | Link to this
Felix @2:20
Your right…it’s not tax dollars…its more debt to China and more printed money from the fed. Tell me how going into more debt and de-valueing the dollar even more is going to ‘right the ship’. You don’t need to be an expert in economics to see that this bailout only prolongs and deepens our current fiscal blowout.
By Taxpayer
September 29, 2008 2:53 PM | Link to this
We might have to just hang on tight and enjoy the ride. The mud slinging is just starting to get in full swing in Washington and neither side is going down without first destroying everything that moves. This is a classic lose-lose scenario in the short-term for everyone. Are the historians recording this play by play for future generations to study and learn from? The executives in the wall street firms made all their real money over the last 5 years and stashed it safely away. They’re set for life so they could care less how many banks and others go under. I wonder which companies will go down next while we listen and learn how politicians negotiate on our behalves. Will they get us the best deal possible on our taxes? Will they get us the best outlook for our future health, safety, and welfare? Our children’s future? Their own futures?
By Mrs. Godzilla
September 29, 2008 2:56 PM | Link to this
Will McCain re-suspend his campaign again?
By Midori
September 29, 2008 2:58 PM | Link to this
LOL
Good one, Mrs. G. :)
Will McCain re-suspend his campaign again?
By DebbieDoRight
September 29, 2008 3:00 PM | Link to this
We might have to just hang on tight and enjoy the ride. The mud slinging is just starting to get in full swing in Washington and neither side is going down without first destroying everything that moves
Word.
By AJC/DNC Management
September 29, 2008 3:04 PM | Link to this
By Midori September 29, 2008 2:45 PM Andy, I wasn’t aware that Obama was in the House of Representatives?
i r o diM: A real leader in Washington, especially one that stands before a podium, teleprompter at hand, blowing about how he the Queen was going to save thee economy, should be able to get things done, you would think.
Yeah, he sure did:
Stocks Fall Sharply Lower Ahead of Bailout Vote- Dow down 571.
~~~~~
By K_Chub September 29, 2008 2:48 PM AJC/DNC Management, Hold on a second - your Conservative idol Wooten wrote a blog earlier praising McCain for his work in getting this bailout package passed and now that it has failed you want to blame it on Obama. I can make stuff up and play dumb just like you
Uh-huh:
On Face the Nation this morning, Sen. Barack Obama said John McCain deserves no credit for the bailout proposal. He also said he’s likely to support it.
Making it up, eh?
By Paul
September 29, 2008 3:05 PM | Link to this
getalife 2:48
Agreed.
Now is time for AmVet to pop in with “Vote Nader.”
DebbieDoRight,
I’m very, very glad to hear it. Yes it is tough - and that’s also why it’s rewarding. As I told one of the kids who’s getting married, difficulties come up in marriage. That’s normal. If they don’t, someone’s not being open and transparent. Difficulties are not a test of how good the marriage is. It all depends on how those difficulties are addressed. As far as all the good-looking people - I also told the kids “So they look good, so what? After five minutes, then what? Don’t go for the surface stuff.”
But congratulations to you. I’ve heard it said, “Once a Marine, always a Marine.” So continuing good luck, too!
By Wyld Byll Hyltnyr
September 29, 2008 3:09 PM | Link to this
If Pelatio and the dems believed this was the right thing to do, they could pass this rescue package. Particularly if Obama were to call for full dem support. Pelatio’s lack of leadership and the dems lack of courage is appalling. Meanwhile Wamu and Wachovia had to fail because Pelatio can’t lead. Pelatio lied and now the whole country’s economy will soon be fried.
By K_Chub
September 29, 2008 3:16 PM | Link to this
AJC/DNC Management
Oh I get it this is you trying to be clever. Well look at you - I bet you’re quite proud of yourself. Obama says something and you pretend to believe it when it is advantageous for you to do so, but when it isn’t you disregard what he says.
Truth is McCain probably didn’t have anything to do with the bill, but that’s not what your fellow conservatives are saying. If you listen to your fellow conservatives it was McCain and McCain alone who saved the day - so fall in line buddy.
This is how you spend your day? I see you posting on here all the time and you go back and forth all day long. What’s your aim? Are you trying to get people to see your point of view - because I gotta tell you I think you’re going about it all wrong. You should try to be less of a childish jerk it might actually help your cause - that is assuming your cause isn’t to show how much of a childish jerk you are…..
By RealityKing
September 29, 2008 3:17 PM | Link to this
Something tells me a recession is going to happen no matter what.., it is after all, what everyone should expect after a historical economic expansion. And since this year’s economic growth is still expected to remain in the positive, we’ll blame the next president for the recession. Kind a like the media did with W in 2001. Meanwhile.., W skips out of town with credit of residing over the longest economic expansion in our history while stubbornly fighting liberals, and terrorists a like, to create 2 brand new democratic allies in Afganistan and Iraq. A legacy the cigar twins would surely die for at this point..
By Midori
September 29, 2008 3:28 PM | Link to this
Andy,
I have only two words for you: GO, SKINS!!
By AJC/DNC Management
September 29, 2008 3:35 PM | Link to this
By K_Chub September 29, 2008 3:16 PM AJC/DNC Management Oh I get it this is you trying to be clever. Well look at you - I bet you’re quite proud of yourself. Obama says something and you pretend to believe it when it is advantageous for you to do so, but when it isn’t you disregard what he says.
Chubbie: Are you saying that Oblahma would, gasp, lie?
You know, sweetheart, see I can be nice, I’m kinda glad that you don’t have a very high opinion of me cause that saves me a lot of soul searching and self evaluation if you did.
I must be doing something right, you reckon?
By Political Foreskin
September 29, 2008 3:36 PM | Link to this
Cnn just reported that scientists have achieved a collision of quantum particles at the Large Hadron Collider creating trillions of tiny little Energizer Bunnies, killing everyone inside the 17 mile circle.
The credit crisis needs a poster child. A photo op. A stereotype. A picture book explaination.
When Bush lied to us about WMDs in Iraq, he destroyed what was left of presidential credibility. Thus his appeal last week failed to move any Americans.
America doesn’t believe in authority anymore. AMerica is sticking it to the Man.
It’s America. The bailout was for foreign banks, you know.
Obama 08: He’s right for what’s left of America.
Palin 08: Nobody doesn’t like Sarah P.
By AJC/DNC Management
September 29, 2008 3:41 PM | Link to this
Aahhh, yes, the libs got all happy and did an end zone dance……………without the ball:
Which is this: Even if Sen. Barack Obama loses the presidential election — and of course he may — the playing field of our politics now has shifted seismically in his philosophical direction.
The era of cowboy capitalism has died, largely of self-inflicted wounds. Who knows what’s coming now? I do: A new era of tight business regulation and government intervention in the markets.
For now, and perhaps for many years, there will be no going back.-Fineman, “News” Weak
Don’t look now but capitalism won.
By DebbieDoRight
September 29, 2008 3:47 PM | Link to this
Dusty: I know you didn’t mean it when you said “Liberals (like Bookman) try to hide their joy over a crisis in America. Such a good time to blame Republicans (BUSH hate) and get revenge for losing THOSE elections. Kinda hard not to smile, huh Jay?
I know you were just being sarcastic; but that was awfully mean and low. How can anyone smile when their lives and those of generations to come are in such turmoil? You usually post insightful, although totally inaccurate, retorts; don’t change on us now.
By KH
September 29, 2008 4:18 PM | Link to this
If we MUST have a bailout, why not have the richest Americans—the people who have gained the most from this system—do it? The wealthiest 400 Americans—FOUR HUNDRED PEOPLE! —are worth $1.5 trillion. They could put up the first $250 billion and see how it goes. They could put up the whole $1 trillion and still have a billion dollars each to play with. Or we could have the wealthiest 10% of Americans put up 5% or so of their collective $40 trillion in wealth to save Wall Street. The rich can spare 5%, hell they could spare 90% and still have far more than you and me.
By Dusty
September 29, 2008 4:46 PM | Link to this
Dear Debbie Do Right.3:47
No, I was not being sarcastic. I have read enough Bush, Cheney, Rove, Gore and now McCain baloney to convince me that many liberals have been completely convinced that Democrats won with Gore and Kerry and were cheated of their victories. That started with bitterness and evolved into hate. It does not matter if Republicans have worked tireless for this country, slurs manufactured from the smallest detail are repeated over and over.
If you don’t believe it, read what is being dumped on McCain now. He is accused of ruining an aircraft carrier and killing others, of only being in actual military service for a few hours, that he is senile and cancer ridden, that his wife is a drug addict, that his temper is out of control, that his long years in th Senate mean nothing, that he sang like a bird as a prisoner…..the list goes on and on and on.
I do not think McCain is perfect any more than I think anybody is perfect, but the pure lies are disgusting. Bush was the first recipient of hate but it has spread.
Sorry, Debbie. I do not like slurs against the military and you don’t either. But even the military has been slurred often.(killers, rapists, etc.) There even seems to be a wish for defeat.That is when I see how pervasive is hate and after eight years of it, I believe I know what started it.
By Felix
September 29, 2008 5:08 PM | Link to this
I take it you didn’t buy Pelosi’s “buy in not bailout” comment. As you say it will prolong the process, but hopefully it won’t be as painful. It’s not like we aren’t getting anything for the proposed $700 billion. I just hope it’s enough to bridge the gap.
Well, you certainly can’t right the ship overnight. It will take years if not decades, just like restoring our relationships abroad.
You start with fiscal responsibility in our governments, businesses and homes. We have to tighten our belts and stop living on credit. This will require many of us to end our lavish, wasteful lifestyles and pay higher taxes. The rest of us can pay a little more as well. We retirees are going to have to cut back on the gambling junkets and bridge parties and invest time and money in our communities instead. We need to take the speculation out of the markets and stop letting a relative few determine what we pay for gas, food and other necessities as they skim their commissions off the top and get rich. We need to take care of our children, the sick and the poor, especially the working poor. The economy gushes up, not trickle down. We need to teach our children that hard work, not leisure, satisfies the soul. We need to cross that bridge to the 21st century with home schooling over the Internet, increased telecommuting and investment in renewable energy sources, and stop wasting limited resources on school buildings and other under-utilized infrastructure. We’re spending $5 million a year just to bus the children to school in this “poor” county. We need to end our reckless, self-destructive lifestyles, improve our diets and get more rest and exercise, instead of popping a pill for everything that ails us.
The next president also needs to call on the patriotism of corporate America and explain why it is so important to stop outsourcing jobs. We can consume all we produce and then some, so why look overseas for new customers? Mother Earth doesn’t have enough resources for China and India to fully “westernize.” We need to adopt conservation as a way of life not treat it as a dirty word.
It won’t be easy. We need true leaders, not puppets nor panderers; Congressmen willing to make the right vote even if it puts their reelection in peril.
By Felix
September 29, 2008 5:42 PM | Link to this
Davey, I had a long reply, but lost it in cyberworld. I’ll try again later. Should have copied it.
By Felix
September 29, 2008 5:54 PM | Link to this
Well, it didn’t get lost after all.
By Felix
September 30, 2008 4:53 AM | Link to this
You’re on to something I’ve been pushing, KH. Warrren Buffett did step forward and invest $5 billion in Goldman Sachs. These folks are going to have to start paying higher taxes or adopt 500 families each. The rest of us should be able to fend for ourselves.
By Felix
September 30, 2008 8:45 AM | Link to this
Correction and amplification: The rest of the 1/10 of 1% of the wealthiest households are also going to have to adopt 500 families and the remaining 9/10 50 families, then the rest of us should be able to fend for ourselves. This is the biggest gap in wealth since the Great Depression, not a good thing.