This bailout plan is the worst thing we could have done

Just to play Devils Advocate, but there was also criticism when the government bailed out New York City in the fiscal crisis of the 1970s. Mayor Abe Beame went to President Ford, hat in hand and asked for federal money to meet the city's obligations. That was the famous Daily News Headline: Ford to city Drop Dead. But the gov't came around, seeing as if New York failed, it could lead to a string of failures across the country. But there were conditions with the money, New York had to curtail its spendthrift ways, cut spending and got its financial house in order. The federal government made tens of millions of dollars as the stock market recovered in the 19-80s.

 

That's when the Chinese woke up and said. "What the fuck are we thinking? Little fucking island nation almost kicked our ass in WWII and we're going to let them do it again? If a billion of us could bullrun them off into the sea, certainly our cash can. Fuck'em. They're toast."

 

Maybe I should refrain from the f-word.

Poin, what is the Mandarin translation of the F-word? I'll use that from now on.

 

It didn't pass.

edit

I don't know if it hasn't passed or not.

Market sinking like a rock.

 

Vote count?

 

It failed the house
Yes 205 No 228 ...

 

http://www.msnbc.msn.com/id/26884523?GT1=43001

 

Dow down 500 points. Thanks, Republicans.

 

Look out below!

Wait till tomorrow after this goes though the Asian and European echo chambers. 1929 redux. Right now Wall Street's too stunned to let this sink in.

 

Lotta Dems voted No. But hey, whatever gets your dick hard.

 

Take that shit over to the other board.