Bailout Fails to Pass House, Dow Tumbles

And I wish that the leadership on both sides would have come to a handshake deal that said they would not use the bailout vote against any incumbent. I used the Rothenberg House rankings to find all of the incumbents in close races (i.e. races they could lose). There were 44 incumbents. Only eight of them voted for it. If Pelosi had taken her 14 "endangered" incumbents who voted against it aside and told them that they were going to get extra money to help them and found a way to guarantee their survival, the bill passes.

 

Ace, spare me the "people who only wanted a house" bullshit. If you can't afford a house, don't get a mortgage. It is the fault of people who expected that living beyond their means would never have any consequences (and as I said, that number has been steadily increasing for a long time) AND the fault of the predatory lenders and others in the financial sector who took full advantage of that mind-set. There's plenty of blame to go around.

 

And NONE of the blame goes to the Republican party?

Riiiiiight. You can have that Kool Aid.

 

That post has nothing to do with any party. But your post was partisan as hell. Go back to posting about Stevie Nicks and running other people's jokes into the ground.

 

The WaPo says local voters caused this today ...

http://voices.washingtonpost.com/thefix/2008/09/the_failure_of_the_financial.html?nav=rss_blog

 

-735.

What the hell.

 

That post had nothing to do with any party? OK.

 

As I said yesterday on the other thread, I didn't get a mortgage I couldn't pay to buy a house I couldn't afford. And I'm suffering anyway. And I'd really appreciate if people like you wouldn't attempt to claim that I'm somehow enjoying being bent over the barrel at the gas pump and at the grocery store because it gives me another opportunity to point out that the current occupant of the White House is a grade-A dullard. Frankly, I had enough evidence in that corner to last me until Rapture.

 

So that's about an 8 percent loss in the S&P today, right? So most of us lost about that much from our 401k in just a few hours.

 

7.3 percent, if CNN's numbers are the final totals. They say as of 4 p.m. ET.

5.4 percent for the Dow. 9 percent for the Nasdaq.

 

Don't take it personally when I shoot you with a crossbow for your gasoline.

 

I think Republicans are feeling the heat and they may have made an appeal for simple-minded voters, who will end up bearing the biggest brunt of the bill's failure.
To me the smart play would have been to hold off voting until the end, voting for it if its going down, voting against it if it was going to pass. You've got to have some pretty big stones not to change your vote after seeing the Dow drop off a cliff.