Bailout being rejected, thoughts?

iVillage Member
Registered: 04-29-2003
Bailout being rejected, thoughts?
164
Mon, 09-29-2008 - 3:35pm

Hi –


 


The bailout being rejected is not a good thing, it affects EVERYONE.  Banks have no money, we have no money (generally speaking).


 


I was speaking with a co-worker that said the Democrats insisted the Parachute Clause be put into the plan otherwise they’d vote against it (keeping Exec’s from these millions of dollars) so that is why the Republican’s majority anyhow rejected it.  They are so greedy and now they have cut their nose to spite their face.


 


Thoughts everyone?


 


SP


Avatar Image"The Small Peanut"


How many pounds of peanuts are consumed in the United States each year?

2.4 billion pounds! About 50% is consumed as peanut butter.


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Avatar Image"The Small Peanu

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iVillage Member
Registered: 08-19-2007
Mon, 09-29-2008 - 3:51pm

America adrift.



(10) Whenever you think that the Government has done things so extreme that it can't top itself -- torture, theories of presidential lawbreaking, a six-year war justified by blatantly false pretenses -- it always tops itself. On top of the massive debt under which the country was already drowning, another $700 billion is now being added in order to save the nation's richest individuals from the consequences of their own recklessness, allowing many of them not only to remain enriched, but become further enriched, all while basically ensuring that the Government is incapable of spending any money for years, if not longer, on programs designed to improve the lives of the vast, vast majority of its citizens -- the same citizens who are forced to fund this bail-out. That seems hard to top, but the only thing certain is that they will find a way to do so. http://www.salon.com/opinion/greenwald/2008/09/29/bailout/index.html


And:



UPDATE II: House Republicans are blaming a speech Nancy Pelosi gave this morning for defeat of the bill, claiming that her "partisan tone" drove many GOP members to vote against it. That is really dumb. If House Republicans decided how to vote on this bailout based on a speech Nancy Pelosi gave -- rather than their views on the merits -- that is as potent an indictment of those GOP members as anyone else could make.



What seemed to happen is that enough members were afraid of the extreme public anger against this bailout bill and petrified of what it would do to their future job security. That's a good thing -- it's called responsiveness and accountability. http://www.salon.com/opinion/greenwald/2008/09/29/bailout/index.html


I really hope I never see a day when my credit card or ATM card cease to work because the financial system seizes, but that day could possibly be a blessing in disguise. One thing is clear, our incumbent Congressional representatives need to go. I don't care what political party you favor. DON'T VOTE FOR INCUMBENTS!

iVillage Member
Registered: 07-15-2008
Mon, 09-29-2008 - 3:58pm

"UPDATE II: House Republicans are blaming a speech Nancy Pelosi gave this morning for defeat of the bill, claiming that her "partisan tone" drove many GOP members to vote against it. That is really dumb. If House Republicans decided how to vote on this bailout based on a speech Nancy Pelosi gave -- rather than their views on the merits -- that is as potent an indictment of those GOP members as anyone else could make."


I said I wasn't going to blame anyone in particular - just all of them - but Barney Frank said the funniest thing when a reporter asked him about that saying the republicans were upset over the speech.

iVillage Member
Registered: 08-13-2008
Mon, 09-29-2008 - 4:19pm

Part of the Republican ideology is that the government needs to stay out of the business world.

Carey

iVillage Member
Registered: 04-29-2003
Mon, 09-29-2008 - 4:26pm

Look, I think the government needs to, at least, to some degree.



I have a friend who is the CEO of a company – he only makes 150K a year and a 50K bonus and insists everyone shares an office (doesn’t even take an office to himself) to set a good example and they are profiting right now as a result…trust me, he’s considered middle class in Los Angeles – but I admire that. Why on earth are these CEO’s making more money than rocket scientists and brain surgeons (even what they earn in a lifetime) with their 20 + million dollar salaries?

Avatar Image"The Small Peanu
iVillage Member
Registered: 10-25-2006
Mon, 09-29-2008 - 4:37pm

Well, we cannot complain that our representatives are not listening to us taxpayers. I think this article explains one reason it was rejected by the average American:

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/26/AR2008092603265.html

From what I read about how the bailout would work, the only references to the taxpayers getting an equity stake in the firms being bailed out used the words "option to obtain nonvoting shares" and that's not good enough. To me that means "buy" shares. Why should we have to purchase shares after purchasing their junk assets? The wording needs to be "receive VOTING shares in exchange for the Treasury's service of purchasing and creating a market for their junk assets".

Yes, that will dilute the value of existing shares in the firms choosing to participate, but it's the current investors and creditors of the failing institutions who chose to make the risky investments to begin with. It is they who should shoulder the losses.

-----------------------------------------------
http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

iVillage Member
Registered: 07-25-2008
Mon, 09-29-2008 - 4:44pm
All I know is 95 dems voted no.
iVillage Member
Registered: 04-29-2003
Mon, 09-29-2008 - 4:48pm
I agree to change to voting share. Thanks for this.

Avatar Image"The Small Peanut"


How many pounds of peanuts are consumed in the United States each year?

2.4 billion pounds! About 50% is consumed as peanut butter.


4a696320.gif picture by rwctlc1107
Avatar Image"The Small Peanu
iVillage Member
Registered: 08-31-2003
Mon, 09-29-2008 - 4:49pm

Do you think that there should be limits on all professions?

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iVillage Member
Registered: 04-29-2003
Mon, 09-29-2008 - 4:49pm
Maybe I'm confused? I heard the Republicans-majority voted against it.

Avatar Image"The Small Peanut"


How many pounds of peanuts are consumed in the United States each year?

2.4 billion pounds! About 50% is consumed as peanut butter.


4a696320.gif picture by rwctlc1107
Avatar Image"The Small Peanu
iVillage Member
Registered: 04-03-2003
Mon, 09-29-2008 - 4:51pm
Thoughts other than We're frilled?

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