wow people here are not thrilled with the no vote on the bill. I know others in finance who told me this weekend that they thought a bailout would be a mistake. more wait and see, I guess.
I have no idea myself as to what's the best course of action. AND there's no one in the govt to trust anymore, is there?
So what's the argument of those who say it's a mistake?
So call a special session for October 14, and give them 32 billion under the terms of the current proposal to use until then.
But a single deal could cost them more than that, right? I mean, I guess the question is how much money can the Treasurer demand w/o this kind of blanket bailout. Is there an advantage to a blanket bailout vs individually negotiated deals?
OMG, the poison labels are so cool and gonna be on each and every one of my folders for university this year.
Also,
They may possibly have the world's best hummus.
There are few places in East Jerusalem who may differ. I'm not the biggest hummus fan on earth (oh - remind me to tell you, lovely Americans, the unbelievable amounts of times I've been asked to tell my opinion about certain types of hummus when I visited the States), but some people I know vows by them.
Post-holiday-dinner. Gonna nap in front of the TV. Yay TV. Oh, we had lovely dinner. Death was a big star of conversation. Lots of laughs, seriously.
The argument I was given was that the market needed to correct itself more. The big risk-takers needed some repercussions and a bailout would only encourage an environment of irresponsible lending/investing becuase it would all get covered in the end anyway.
That, of course, is an oversimplification, but they had to simplify to a level I could grasp. It is also fairly cynical, I think, and possibly not addressing what the ramifications will be to joe-schmo on the street.
I must agree that 700 billion does force one to pause, but yipes!
I did think it was interesting how all this mess made the earmarks "scandal" seem like a whole lot of nothing during the debate on Friday. McCain was like, "$18 billion!!eleven!" and Obama was like, "Please. Like that even matters anymore???"
My rep apparently voted against the bailout bill, according to CNN.
"Like the Iraq war and patriot act, this bill is fueled by fear and haste," said Lloyd Doggett, D-Texas.
Well, to be fair, it was chump change all along - it's never been more than a side issue, but it's the only economic issue McCain can go anywhere near.
Oh, definitely -- but two years ago, I would have thought that many billions was real money.
It is also fairly cynical, I think, and possibly not addressing what the ramifications will be to joe-schmo on the street.
I can't say I really understand everything. But I'm thinking the problem is that there is so much money in the mortgage backed securities that nobody wants that the credit market is frozen, and businesses won't be able to borrow money. At some point that means individuals won't be able to borrow money and the economy will perhaps seize up. Sort of like draining the oil out of an engine?
My rep apparently voted against the bailout bill, according to CNN.
Do you have a link for how to check how your rep voted?
