OT: $700 million dollar bailout defeated in the House.

[Rhiannon]

It *was* illegal.

Sorry to take out most of your post Frank, but you write friggin novels sometimes.
(I do agree with what you said though.)

Now, if I may ask, it is clear that what has transpired among the consumers/lenders was outright fraudulent.
...Yet not only is our government turning a brown... er... blind eye to it, but they're going to sweep it under the rug to the tune of $700 bil.

What's wrong with this picture?

[strangegrey]

It *was* illegal.

Sorry to take out most of your post Frank, but you write friggin novels sometimes.
(I do agree with what you said though.)

Now, if I may ask, it is clear that what has transpired among the consumers/lenders was outright fraudulent.
...Yet not only is our government turning a brown... er... blind eye to it, but they're going to sweep it under the rug to the tune of $700 bil.

What's wrong with this picture?

You're absolutely right, Rhi. I tend to be one of the worst vag-flappers here...when I start bitching about something, I'm worse than Nancy Pelosi.


You are correct....this bailout is an effort to divert attention away from the fact that a large percentage of congress is responsible. They're like dumb fucking criminals. They engage in bank robbery...then call the police and say "I can help you catch the those responsible" hoping that the police doesn't see through it.

Sadly, the american people, as a whole, are too fucking stupid to see through this game....and congress has played it for decades.

Part of me hopes that this credit crunch actually does start to fuck up people's lives a bit...because, maybe, it will snap people out of their apathy and actually hold their representatives accountable for their actions.



Some of the pundits and even some dem senators are trying to claim that the house republicans are voting out of fear for voter reprisal in november, as if that's a fucking bad thing!?!?!?! It boggles my mind!! Duh!!! That's the way it should be. Elected officials are NOT there to make decissions against the will of their constuency, thinking they know better. They are there to make decissions on BEHALF of their constituency.

The fact that this bill seems to be an easy sail-through pass in the senate, but a very hard sell in the House....suggests that fear of not being re-elected is a VERY good motivator (and right now, downright necessary) in ensuring that elected officials carry out the intentions of their constituency.

The fact that some senators feel they have another 4 years to gloss this bailout over with their constintuency....is motivating them to vote fopr what the public is screaming against.

[Rhiannon]

It *was* illegal.

Sorry to take out most of your post Frank, but you write friggin novels sometimes.
(I do agree with what you said though.)

Now, if I may ask, it is clear that what has transpired among the consumers/lenders was outright fraudulent.
...Yet not only is our government turning a brown... er... blind eye to it, but they're going to sweep it under the rug to the tune of $700 bil.

What's wrong with this picture?

You're absolutely right, Rhi. I tend to be one of the worst vag-flappers here...when I start bitching about something, I'm worse than Nancy Pelosi.


You are correct....this bailout is an effort to divert attention away from the fact that a large percentage of congress is responsible. They're like dumb fucking criminals. They engage in bank robbery...then call the police and say "I can help you catch the those responsible" hoping that the police doesn't see through it.

Sadly, the american people, as a whole, are too fucking stupid to see through this game....and congress has played it for decades.

Part of me hopes that this credit crunch actually does start to fuck up people's lives a bit...because, maybe, it will snap people out of their apathy and actually hold their representatives accountable for their actions.

Vag-flapper...

Anyhow. The bail-out should not even be the government's concern... it is my understanding that as a capitalist economy shit happens and corporations tank. This is just an assload of people not wanting to be held accountable to their fuck-ups and... I don't know... possibly a step towards socialism if this thing passes? *sigh*

[iceberg]

It *was* illegal.

Sorry to take out most of your post Frank, but you write friggin novels sometimes.
(I do agree with what you said though.)

Now, if I may ask, it is clear that what has transpired among the consumers/lenders was outright fraudulent.
...Yet not only is our government turning a brown... er... blind eye to it, but they're going to sweep it under the rug to the tune of $700 bil.

What's wrong with this picture?

You're absolutely right, Rhi. I tend to be one of the worst vag-flappers here...when I start bitching about something, I'm worse than Nancy Pelosi.


You are correct....this bailout is an effort to divert attention away from the fact that a large percentage of congress is responsible. They're like dumb fucking criminals. They engage in bank robbery...then call the police and say "I can help you catch the those responsible" hoping that the police doesn't see through it.

Sadly, the american people, as a whole, are too fucking stupid to see through this game....and congress has played it for decades.

Part of me hopes that this credit crunch actually does start to fuck up people's lives a bit...because, maybe, it will snap people out of their apathy and actually hold their representatives accountable for their actions.

Vag-flapper...

Anyhow. The bail-out should not even be the government's concern... it is my understanding that as a capitalist economy shit happens and corporations tank. This is just an assload of people not wanting to be held accountable to their fuck-ups and... I don't know... possibly a step towards socialism if this thing passes? *sigh*

normally i agree, but i also feel our government forced through intemidation and "guarantees" to have these lenders make these loans so they can say "LOOK WHAT WE'RE DOING FOR YOU!"

in an instant gratification world, you never have to be right, just instantly gratifying.

[conversationpc]

Has anyone else seen the new dollar that's being printed...

[strangegrey]

The Unit america? LOL

[SteveForever]

sorry if this has already been posted....

http://www.youtube.com/watch?v=NU6fuFrdCJY

[artist4perry]

Has anyone else seen the new dollar that's being printed...

Not worth the paper it is printed on!

[nolippin]

I can't vouch for the credibility of this site, but this is an interesting piece. Can't get the graph to show up, but here's the text.


http://market-ticker.denninger.net/arch ... .htmlFLASH: Fed Speaking Out Both Sides Of Mouth

The Fed has claimed that this is a "liquidity crisis."

Really Ben? Then perhaps you can explain this?



Note that this is an intentional drain of "slosh", or liquidity, from the banking system. $125 billion in the last four days drained?

You wouldn't be trying to intentionally cause a bank failure or two to bolster your call for the $700 billion "bailout" plan, or perhaps intentionally lock the short-term credit markets, would you Ben?


If the market has a liquidity crisis, why would you be intentionally draining reserves from the banking system? Don't you think you ought to explain that to Congress?

[jrnychick]

sure teach money management, but also regulate so the lenders don't finance homes with those ridiculous loans like they've done as of late. i know a lot of you will cite the bill that allowed lower income folks to get into homes, but this is much more than that. the lenders hold some of the responsibility here. the low income help did not do this.

No, that's part of what I meant, Lu... the companies jacking over the consumer with glittery words and pretty much a turn-key offer. It should be illegal. The auto industry does it, too.

It *was* illegal. 20% used to be an industry "bright line" for a down payment on a house. That 'requirement' was reduced and in some cases, completely evaporated. Such an effort was pressed for by democrats in the 90s and supported by then president Bill Clinton so that they can realize their socialist efforts in making everyone home-owners....never mind the fact that some people are so fiscally irresponsible (or just flat out fucking poor) that they have no business owning a home in the housing market of the late 90s. Equally irresponsible efforts were made by the above parties with respect to securing loan covenants that provided some reasonable assurance of preventing default.

However, blame is not squarely on the shoulders of the above mentioned democrats (even though some of the self-professed archtects of this so-balled bailout are so deep in culpability here that they have ZERO business being involved in the bailout process...douchebags like Barney Frank, Chris Dodd and Joe Biden were integrally involved in setting up subprime ARM customers to fail)...There are republicans that are very much to blame for this mess as well. History's worst US president continued Clinton's bad ideology and allowed this crap to continue. Senator John McCain had his grubby fingers in the cookie jar as well. Many Republicans fed off of this bullshit...and a great deal of them were 'retired' back in 06.

I do not believe for *one* second in the claims that Hayseed Bush or John McCain tried to 'warn' people of this crissis as far back as 2003. That's laughable, given the fact that their pockets were getting lined by it as far back as 2001. I'm sorry...I'm sick and fucking tired of each side trying to claim they 'warned' people. Bullshit...complete and utter bullshit.

McCain is just as fucking full of it as that c^nt-faced excuse for a slug, Pelosi. So's Dodd....don't get me started on Frank. That fucking fat idiot needs to go on a diet and stop spitting out his lunch all over the reporters looking to hear him state House Republican's that voted No to a flawed bill that wasnt going to help a single fucking person but those in congress....and cover it with a bit fat fucking chocolate "they hurt america" topping. Sorry....anyone with half a brain knows that Barney Frank's only true knowledge in this matter is how much the coming economic downturn will affect his canoli and whiskey budget.


The true fact of that matter is that ALL elected officials save for a small few, have their best interests in mind. They've gotten away with it because they are completely out of touch with why and who elected them into their position. 9/10 of all law passed contains at least one or two provissions designed to benefit the politicians crafting said legislation or to further an ideology contrary to the needs/stated goals of this country. It's a complete and utter disgrace. Our government if filled with completely selfish douchebags that have NEVER had our best interests at heart...and engage in political games to advance their bullshit.

No one is free from guilt here. Pelosi, McCain, Obama, Bush, Frank, Cheney, Dodd, etc....they're all to blame. Every fucking one of them...and no one can stand from any soapbox and claim differently...because it could take less than a few hours of casual research to indict each and every fucking one of them. Some of them, less than 5 minutes...like those listed above that are either president, nominees or people listed in the constitution as potential successors if POTUS and/or the VP die in office.



I am a single pube hair from starting a website that outlines every incumbant elected official in every fucking district in the US...and unless running uncontested, a full blog page dedicated to drumming the fucking douchebag out of office.


It's time this country returned to the original principles of elected officials back when this country was first formed. Those days, an elected official took a break from his/her career to serve a term and return home. There was no such thing as a career politician back then. You did your time and returned to your true calling. If we can't have term limits on elected officials....we need to defacto imopse them as voters.

I agree with you COMPLETELY, Frank!