The Bailout Bill Passed the House

iVillage Member
Registered: 03-25-2007
The Bailout Bill Passed the House
4
Fri, 10-03-2008 - 1:39pm
I've been watching this and the bailout bill passed the House.  As of this moment the INDP is 10597.46.  It did not shoot up as I sort of thought it would.  I think things are still very ungood (I would say "bad", but that isn't half-full thinking) in the economy.  We are heading into a deep recession, and bad news  out of California is that they may have to borrow $7 billion from the Federal government to continue current operations.  The next president will have his hands full with an economy in recession and with massive national debt. 

Sopal


Sopal

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iVillage Member
Registered: 03-19-2003
Fri, 10-03-2008 - 1:44pm

I honestly feel like whoever wins .. will be historically known as a 'bad' president b/c he will be fighting a big mess that's going to take a lot longer than 4 years to even show signs of 'better'.


makes me think 'I pity the fool'.


not surprised it passed though ... gonna go read it now.

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iVillage Member
Registered: 09-08-2008
Fri, 10-03-2008 - 2:06pm
The bill can't be as bad as they make it out to be otherwise the GOP would be supporting it more. lol. Based on the Bush43 admin, anything the GOP does is suspect to me now. Some of the traders interviewed think that the bill's passing will cause a temporary destablization before leveling off. I hope they are correct.

iVillage Member
Registered: 10-25-2006
Fri, 10-03-2008 - 2:08pm

It will be interesting, and sad, to watch how this whole bailout plays out. I'm convinced Paulson knew what was coming down, way before he let on. I think he and Bush, intentionally waited for the Lehman, AIG, Fannie failures before doing anything so that he could demand that HIS plan, devised by his Goldman Sachs buddies and favorable to THEM, be pushed through in a CRISIS.

They could have been consulting economists one year ago to work on a plan that could be implemented on short notice, if the need arose. But they knew it would not favor Wall Street, so they deceived the whole country because of their greed.

It's truly despicable.

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iVillage Member
Registered: 03-25-2007
Fri, 10-03-2008 - 2:17pm
I think if all of this was happening in a non-election year, a much better bill would have been written.

Sopal

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