Hold On To Your Butts

The damn bailout is faililng in the House vote, and the stock market is nose diving.

they’re down 17 votes and the dow is down over 500

Oooooh crap.

Seems a number of republicans bolted on their leadership. I like people who play politics with my investments!

I do enjoy a good market rollercoaster ride.

It’s coming up as rejected on the news channels and websites I have up.

and I, for one, welcome Lord Humongous as our new overlord.

On an unrelated side note, this thread makes me really want to watch Jurassic Park again.

Look at that little bugger nose dive.

Fuck the Republicans. I am so mad at those stupid bastards. The Republican leaders were apparently telling the Democrats they would deliver 95 or so votes and they only wound up with 67. Either the Republican whip can’t count or 30 Republicans lied and deliberately sandbagged this. This is a total disgrace.

Buying opportunity? I can’t say that I saw this coming, but I’ve had my portfolio a majority cash for awhile now (longer than I should have probably, but that’s on me).

I feel like a kid in a candy shop. So many bargains. If only I didn’t still have the feeling that the worst is yet to come.

I’m in the same boat, I’ve been 70%+ cash for months waiting for things to really go to shit. There’s a few stocks I’ve had my eye on but they haven’t hit my ultra low target prices yet.

I’m glad that I have a wide selection of belts to eat when the Grapes of Wrath starts up for reals next week.

Holy crap. They certainly are keeping things “interesting” here.


In other news, bad choice of mine to buy EMC today at 11.80.


Maybe it’s a buying opportunity, but I think the more likely outcome is an intensified wave of failures among banks and other financial companies and a bad global recession that kills any cyclical stocks worse than they’ve already been beaten up.

Some of the financial bloggers, most notably Mish, have been organizing a fax campaign against the bailout. And frankly, I’m not sure which side is right. I certainly don’t like the idea of handing using tax money to buy bad investments at inflated prices to prop up companies that made bad decisions. Those companies deserve to fail.

Hopefully somebody will come up with a way to protect the system without taxpayers paying for private investors’ mistakes. Maybe something a little more well thought out than a three page memo from Paulson asking for virtually unlimited power to give away money to his buddies in the industry.

Repubkicans are blaming a speech Pelosi made before the vote for the votes that jumped the fence.

Heh, the House Republicans are saying that they bailed on a deal because Pelosi hurt their precious feelings during her speech. It’s totally not that they were hoping to leave the Dems alone in supporting the bill.


Not that that isn’t a totally valid reason for cratering the economy.

92 House Democrats also voted against it.

Ya tards.