Wow... I am stunned that this was turned down. Honestly, I think that some of these companies should go down along with their executives but still, I thought for sure the bill would pass. I only care because the overall market is affecting my investments but in the long run this is a good thing since it will only flush out the greed.
For the most part, I blame the law makers and regulators for not keeping a tighter control. This looks almost like a repeat of Enron except much bigger.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin
I am so pleased that this failed. Finally, some common sense! Let em fall and if they're worth anything they'll be bought- a much better plan than giving them a trillion dollars to keep struggling while the dollar depreciates even more.
jfg wrote:I am so pleased that this failed. Finally, some common sense! Let em fall and if they're worth anything they'll be bought- a much better plan than giving them a trillion dollars to keep struggling while the dollar depreciates even more.
I don't know whether it would have helped or not. I don't think anyone knows honestly. However, most people like you and me would never see a dime of that money anyway.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin
Great video Rugby. A little over my head economically but I think the most valuable part was learning that the bailout would have led to a longer, more drawn out recession. No bailout is quicker but with a more painful recession.
Having bought a big house and just put our house on the market last week this news was like an ice pick in the bowels. The timing could not have been worse. At first we were sure that the discount that we would have to sell our house at would be a lot less than the discount that we got on our new house. Now we're crossing our fingers that we just get our house sold before the closing on our new house.
Does this seal Bush's legacy as the worst president in history?
Mookie4ever wrote:Having bought a big house and just put our house on the market last week this news was like an ice pick in the bowels. The timing could not have been worse. At first we were sure that the discount that we would have to sell our house at would be a lot less than the discount that we got on our new house. Now we're crossing our fingers that we just get our house sold before the closing on our new house.
Does this seal Bush's legacy as the worst president in history?
i think he locked in bottom-5 a long time ago, but I don't know if he get to last place based on recent events, the seeds of which were sown before his admin, though he didn't exactly help things either.
Mookie4ever wrote:Does this seal Bush's legacy as the worst president in history?
To the general public? Probably.
Even though banks loaning more than they could cover, giving loans they knew people couldn't afford, etc, started a very long time ago. Long before Bush was president.
But the general public will blame him since he was in office when the bubble burst.
Yes doctor, I am sick. Sick of those who are spineless. Sick of those who feel self-entitled. Sick of those who are hypocrites. Yes doctor, an army is forming. Yes doctor, there will be a war. Yes doctor, there will be blood.....
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by Yoda » Mon Sep 29, 2008 4:43 pm 
