Bailout being rejected, thoughts?
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Bailout being rejected, thoughts?
| 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

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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While waiting for my son to come out of his meeting tonight I was scanning the radio for people talking about this.
I think tomorrow will be an unpleasant day in the markets also.
Sopal
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Sopal
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Thanks, Sopal! It's neat to be able to track it all at the same time. It's definitely gonna get uglier before we see some 'light'. We just have to keep our fingers crossed that the madness stops soon! The longer this goes on, the more painful it will become.
cheers, HB
Yes, I had the same thought about payroll. I have worked for a number of small businesses and not being able to meet payroll is a huge red flag. Whenever I have come across this, the business usually went belly-up in short order.
I think that we currently have a financial system which in the last 20 years or so has moved further and further away from a clear connection with the fundamentals of the economy. There has been massive change in how companies are valued, for example, and an increasing emphasis on manipulating balance sheets to boost quarterly reports (and executive compensation).
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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php
http://www.youtube.com/watch?v=DQTBYQlQ7yM
Yes, I saw it and it was funny.
I was fuming and screaming at the TV, when the Republicans said they voted "no" because of Pelosi's speech. I watched her a day or two before, give part of the same speech, "the party is over" in a press conference. If they were so "outraged," why did they not say something then? Why wait until it is time to vote, to blame her? They (Republicans) didn't want to vote for the legislation in the first place and used the speech as an excuse and I was furious.
But when Barney Frank made that statement, I laughed and that made me feel better.
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