The bill they voted on was a hundred pages. The government was going to be fully protected against any losses by requiring companies to grant them equity warrants that would make up any losses the government realized on the purchased assets. It would have also limited pay of the top executives at participating companies to less than what someone a few years out of business school at their companies was getting paid.
Live on CNN.
This is a fuking travesty
Yeah, nobody wanted to vote for the bill but they all wanted it to pass.
- Dan Rather
I don’t who it was, but some jackass Republican representative was just on TV at the Republicans’ press conference basically saying this, so I can confirm it.
Guess they’d rather be responsible for the Great Depression of 2008 than take any political risk.
The whole thing will be thrown in President Obama’s lap. This depression will be McCain’s baby.
40% of democrats voted against it, and 66.6% of republicans. Surprised so many dems voted against it.
It was Rep. Boehner on CNN on live tv.
Pelosi’s speech blamed Republcans and Bush for the current crisis.
If you read http://www.quartertothree.com/game-talk/showthread.php?t=47462 (late in the thread) you’d discover the cause for the crisis, which hasn’t had any legitimate dispute as of yet.
So I don’t blame Republicans for having a backbone and telling that wrinkly old bitch to go fuck herself.
Most Americans are against the bill anyhow. Amusing thing is that 99% of you posters have no clue what caused this or how to actually fix it.
There has been a LOT of grass roots revulsion to the package that has been filling up their mail. I suspect they’re scared they’ll take the fall for it if it fails.
Your link is broken - I’m not going to re-read the entire multipage thread to try to see what you’re talking about. If it’s the usual “blame Clinton, Carter, and the CRA”, though, um, there’s lots of legitimate dispute for that, unless you consider “facts” as illegitimate dispute.
And we have LOTS of clue as to what caused this, it was a total lack of regulation and consequent wacky speculation over the real estate bubble, and the inevitable panic when said bubble burst.
And what would fix it? Oh, lots of things - recession, deflation, inflation. None of which are GOOD solutions, mind you.
By the way, if we can call Pelosi a wrinkly old bitch, can we call Palin a stupid MILFy bitch? Or is it only liberals we can toss sexist insults at?
So how many Democrats were expected to vote for it, Bob? Cos I gotta think it takes a surprising degree of treachery to get Fooey this worked up.
TPM has it up too…
Jeezus… the global markets are tanking
FTSE 100 4818.77down -269.70 -5.30%
Dax 5807.08down -256.42 -4.23%
Cac 40 3953.48down -209.90 -5.04%
Dow Jones 10617.13down -526.00 -4.72%
Nasdaq 2041.56down -141.78 -6.49%
BBC Global 30 5235.08down -89.88 -1.69%
You Mom is a…
No. No. I can’t do it. Nice job Bob. You set me up perfectly, and yet you’re still too offensive for me to go through with it.
Personally I’m happy to go a few rounds on this. We need to get it right and I’m not convinced we’re there yet. Wall Street can continue to oscillate between “OMG we’re saved” and “OMG we’re doomed” for a while yet.
What’s up with restricting CEO pay? That seems really arbitrary for me. I’m just as outraged at the money CEO’s get paid these days as anyone but it seems like a problem that needs a systemic fix, not something that should be legislated against specifically. In the whole scheme of things it seems pretty small and petty.
StGabe, if we put $700b of tax payer money into the economy and there’s a single news story about one of the masterminds that got us into this mess walking away with a multi-million golden parachute, the streets will run red.
Totally agree. They can keep congress in session and hammer out something better.
Having Wall Street hold a gun to the head of The Economy doesn’t impress me.
Lum, I know you’re too lazy to educate yourself but I’ll let Bill Clinton educate you:
“I think that responsibility the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up Fannie Mae and Freddie Mac.”
- BILL CLINTON, ABC GOOD MORNING AMERICA INTERVIEW, LAST WEEK
Is that a good source, Lum? Is that an approved source for you? Former Democratic President Bill Clinton on NATIONAL TV telling everyone where the problem lies? Is that good enough for you or do you want a DNA test?
Andrew, I’m sorry you were so offended but Pelosi is a rotten twat. Instead of trying to push this bill for the POOR AMERICAN PEOPLE she decided to take the time to be partisan. Maybe she doesn’t care as much about you as you think?
enlighten us oh wise one. Us poor retards do not have your huge intellect.
The TSX is down 852 points (-7.0%), too. :(