Moderators: richierich, ua900, PanAm_DC10, hOMSaR

  • 1
  • 2
  • 3
  • 4
  • 5
  • 7
 
Elite
Topic Author
Posts: 2309
Joined: Thu Jun 29, 2006 6:31 pm

$700 Billion Bail Out Plan

Mon Sep 29, 2008 1:31 pm

Congress is going to vote whether or not to let this plan go ahead, but with backing from the President and both Presidential candidates it is likely that the bill will be passed.

So here is the question: What is your view on the bail out plan? Is it putting the burden of the mistakes made by Wall Street on Main Street or is it necessary to stabilize the markets?

A good pro / con : http://news.bbc.co.uk/2/hi/business/7635420.stm
Congress voting : http://news.bbc.co.uk/2/hi/business/7641733.stm
 
MadameConcorde
Posts: 9265
Joined: Fri Feb 23, 2007 5:08 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 1:55 pm

the debate and vote are webcasted live here:

http://www.c-span.org/Watch/C-SPAN_wm.aspx

[Edited 2008-09-29 06:56:46]
There was a better way to fly it was called Concorde
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 2:06 pm



Quoting Elite (Thread starter):
Is it putting the burden of the mistakes made by Wall Street on Main Street or is it necessary to stabilize the markets?

Yes and no, respectively.

The only way to go from here is to dump the Dollar and embrace the Amero. (of course this has been the plan for ten years).....and this financial "crisis" is precisely the event that will convince frightened and poor America to surrender her last hope into the hands of an already planned and established North American Union.
 
dl021
Posts: 10836
Joined: Fri May 21, 2004 12:04 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 2:41 pm

For starters it needs to not be billed as a bailout.

We're buying a package of notes that are expected to be 95% fully paid, and the rest will have real value due to real estate, and we're buying them for less than 50 cents on the dollar. How can it not make money?

Quoting MD80fanatic (Reply 2):

The only way to go from here is to dump the Dollar and embrace the Amero. (of course this has been the plan for ten years).....and this financial "crisis" is precisely the event that will convince frightened and poor America to surrender her last hope into the hands of an already planned and established North American Union.

Do what?
Is my Pan Am ticket to the moon still good?
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 2:49 pm



Quoting DL021 (Reply 3):
expected to be 95% fully paid,

"expected".. uh huh..

Quoting DL021 (Reply 3):
we're buying them for less than 50 cents on the dollar

Really?

Are these facts?
Step into my office, baby
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 3:31 pm



Quoting DL021 (Reply 3):
Do what?



You may find the concept of the Amero to be puzzling now.....but rest assured that you and the rest of America are being skillfully manipulated into accepting a supra-national currency (similar to the Euro) in the very near future.

You may say "No Way" now....but later (when your homes and businesses are at risk) you will say that it was necessary and good.
 
User avatar
seb146
Posts: 23010
Joined: Wed Dec 01, 1999 7:19 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:01 pm



Quoting MD80fanatic (Reply 5):
are being skillfully manipulated into accepting a supra-national currency (similar to the Euro) in the very near future.

I thought they gave up on this plan in the past year or so. I have not heard anything more about it since the Mexican government was in talks to build a highway through the Midwest and terminal near Kansas City. I thought talks fell apart and Canada does not want any part of it, either.

Now, answer me this: Why can we not let the markets correct themselves? Isn't this just a correction in the market? Like before when the average American was having their house foreclosed? Why can the government not give the $700 billion to the average tax payer? Why can the $700 billion not go to those who were more or less scammed by the preditory lenders and who have lost their homes? Why does the $700 billion have to go to the ultra rich who got bonuses for handing out these loans?
You bet I'm pumped!!! I just had a green tea!!!
 
AGM100
Posts: 5077
Joined: Thu Dec 04, 2003 2:16 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:05 pm

What the hell is the deal with all this "union stuff" the Dems are putting on this Bill. Union Bail out or something .. ??? Payoff to union run organizations ? WTF ? They killed the 120 billion to the radical ACORN group , now its going to some union outlet. God the Dems just cant stop can they ?

I called both my congress men and told them to ...  thumbsdown 
You dig the hole .. I fill the hole . 100% employment !
 
User avatar
seb146
Posts: 23010
Joined: Wed Dec 01, 1999 7:19 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:09 pm



Quoting AGM100 (Reply 7):
Union Bail out or something .. ??? Payoff to union run organizations

Unions are just awful. I hate that unions help give us child labor laws, a 40 hour work week, overtime pay. Let's get rid of unions....
You bet I'm pumped!!! I just had a green tea!!!
 
baroque
Posts: 12302
Joined: Thu Apr 27, 2006 2:15 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:12 pm



Quoting Seb146 (Reply 6):
Why can we not let the markets correct themselves? Isn't this just a correction in the market?

Probably because if you do not prop up this 700 billion part, some of the rest of the 41 trillion debt house of cards will come tumbling down.

You don't want me to list the next in the queue do you? A number of writers in the financial columns have already done us this "service".

One that is not next but is still hanging over a number of markets is the fate of many of the exuberant private equity (read bank loans) buy outs of the last two years. That could start to tear at the industrial fabric of a number of nations.  eek 
 
AGM100
Posts: 5077
Joined: Thu Dec 04, 2003 2:16 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:23 pm



Quoting Seb146 (Reply 8):
Unions are just awful. I hate that unions help give us child labor laws, a 40 hour work week, overtime pay. Let's get rid of unions....

Like all things human .... the roots were well intended . But now we have very powerful organizations who essentially embezzle and payoff political players. We have a party who is completely beholden to these powerful groups. Unions have become nothing more than Political Action Committees who pick and choose what candidate the members "should consider voting for " or of course lose there job.
You dig the hole .. I fill the hole . 100% employment !
 
codeshare
Posts: 1689
Joined: Tue Sep 10, 2002 2:23 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 4:26 pm

Seems funny to me that the world's most developed and financial market must be helped by government/taxpayers money. How socialist Big grin

KS/codeshare
How much A is there is Airliners Net ? 0 or nothing ?
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 5:20 pm

I'm certainly no economist, but wouldn't it have been better, in hindsight, not to give everyone in the US an "extra" tax refund this year? The estimated cost of that is $276 billion.

Then there the Bush tax cuts. All while increasing spending and growing government.

http://www.brookings.edu/articles/2004/0919useconomics_gale.aspx

making the tax cuts permanent would reduce federal revenues by almost $1.8 trillion over 10 years — and that's in addition to the $1.7 trillion of revenue losses already locked into law. By 2014, the annual revenue loss would amount to $400 billion, or 2 percent of gross domestic product — almost the size of this year's federal budget deficit.

Obviously one or both of these likely have some stimulating qualities, but it seems that as our nation is operating way in the red this doesn't make sense.

Seeing how upset people are about the government committing to spend $700 billion, I wonder why more of those people weren't upset about the government spending it on them when they didn't have it to spend.

Someday we have to pay the bills.
 
AGM100
Posts: 5077
Joined: Thu Dec 04, 2003 2:16 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 5:44 pm

Barney Frank , Maxine Water's , Dodd , Jefferson , and every democrat defended the FM's against a Republican lead hearing about them in 2007. Limbaugh has the audio on his show today , " Quote of the day" Barney Frank saying he see's nothing in the report to suggest the FM's or there leader ship have anything top worry about.
( meanwhile they were paying 120 million in fines for overstating earning's)

Maxine Waters screaming that the GOP was trying to "lynch" the "outstanding leader" CEO of Fanny Mae because the panel raised concerns about his accounting mis handling.

Now these people are trying to coming up with a plan .... Please.
You dig the hole .. I fill the hole . 100% employment !
 
PPVRA
Posts: 8590
Joined: Fri Nov 12, 2004 7:48 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 5:46 pm

Looks like it is not passing!
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
SInGAPORE_AIR
Posts: 11623
Joined: Mon Nov 13, 2000 4:06 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 5:49 pm

Distressing coverage on CNBC Europe / CNBC US / CNBC Asia.

Dow plumetted to 450 when it looked like it was not passing and then when it came to the crunch it dived to -650 ish.

Shocking. They need to get this passed.
Anyone can fly, only the best Soar.
 
AGM100
Posts: 5077
Joined: Thu Dec 04, 2003 2:16 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 5:59 pm



Quoting PPVRA (Reply 14):
Looks like it is not passing!

It shouldn't , no confidence will be gained by having uncle Sam loan the system money. Investors want to see that our system can "fix itself" and it can. The problem is that there are some political "golden calves" that are going under the knife ... and I say do it.

We may crash , but if we involve government as a aspirin the headache will just come back.
You dig the hole .. I fill the hole . 100% employment !
 
PPVRA
Posts: 8590
Joined: Fri Nov 12, 2004 7:48 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:01 pm



Quoting AGM100 (Reply 16):

I just hope they don't decide to spend 700bi in other ways. Billions have already been used to bail out these institutions too, without ever consulting congress, and who's to say this won't continue. . .
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:08 pm

I would surely think that spending $700 billion at even just a chance at sparing the possible economic carnage that may come if it doesn't pass would have been a better use of money than Iraq was. Iraq didn't really get us anything.

Interesting days.
 
Dougloid
Posts: 7248
Joined: Tue Jul 05, 2005 2:44 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:13 pm

rumor has it the plan failed.


 Confused  Confused  Confused
If you believe in coincidence, you haven't looked close enough-Joe Leaphorn
 
User avatar
STT757
Posts: 14179
Joined: Tue Mar 28, 2000 1:14 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:23 pm

The House Republicans killed the bill.

http://news.yahoo.com/s/ap/financial_meltdown
Eastern Air lines flt # 701, EWR-MCO Boeing 757
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:24 pm



Quoting Dougloid (Reply 19):
rumor has it the plan failed.

Puzzling.

I don't like the idea of a bailout but what, really, is to gain by it not passing? Sticking it to 'em?

If the prognostications come to bear with regard to it not passing, it'll be all of us that aren't rich who'll be hurt by this.

Hearing people like Limbaugh railing against it make me scratch my head. What would he lose if the economy went completely completely into the shitter? He presumably has his wealth in "safe" positions and will just sit back and take more prescription meds while the rest of us slip further into the economic abyss.

It would also be great if people would stop being so focused on who to point fingers at. We can do that over the course of the next decade. Right now it's time to figure out how to keep our heads above water.

I have a strong suspicion that lots of the common people so opposed to this because it is "socialist" will be begging for government support if and when they are unemployed.
 
Derico
Posts: 4447
Joined: Mon Dec 20, 1999 9:14 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:28 pm

Reminds me of Argentina in 2001, when the Congress rejected a 0 deficit plan the IMF demanded for a bailout, becuase it deemed it would send the economy deeper into recession.

When that didn't pass, the IMF decided not to bailout the country, and the economy collapsed for a year. 2002 was a very horrible year.

And then the economy started recovering.

I think a similar scenario would be for the US. 2009 would be a disastrous year with unemployment topping 11% and hundreds of bank failures, poverty rising above 20%... and then things would start recovering.

The social consequences however would take much longer than a year to mend though.
My internet was not shut down, the internet has shut me down
 
DLPMMM
Posts: 2285
Joined: Wed Apr 20, 2005 12:34 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:30 pm



Quoting STT757 (Reply 21):
The House Republicans killed the bill.

According to the artice you linked:

"Ample no votes came from both the Democratic and Republican sides of the aisle."

Why are you saying it was the Republicans?
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:30 pm



Quoting Derico (Reply 22):
I think a similar scenario would be for the US. 2009 would be a disastrous year with unemployment topping 11% and hundreds of bank failures, poverty rising above 20%... and then things would start recovering.

The social consequences however would take much longer than a year to mend though.

I fear it will be something along those lines. I have no doubt things will recover, but I think people may have not grasped the reality of what may come until then.

I think conservatives just got so hung up on this being some Democratic Fannie/Freddie thing and that if it passed all the bankers would be buying exotic cars and women with their tax money that they called on their politicians not to pass this. The politicians, this time, did what the people asked, but I think most of us would have been better off if they didn't.

Sad.
 
SInGAPORE_AIR
Posts: 11623
Joined: Mon Nov 13, 2000 4:06 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:32 pm



Quoting DLPMMM (Reply 23):
Why are you saying it was the Republicans?

One could argue that the Republican President told his party what to do and by a margin of rougly 2:1, they disagreed and killed the bill.

Also, such a comment was heard many times on CNBC.
Anyone can fly, only the best Soar.
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:35 pm



Quoting DLPMMM (Reply 23):
"Ample no votes came from both the Democratic and Republican sides of the aisle."

Why are you saying it was the Republicans?

There were lots of no votes. You're right about that, but many more were Republican. According to CNN: "About 60% of Democrats voted for the measure, but less than a third of Republicans backed it."
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:45 pm



Quoting Allstarflyer (Reply 27):

I have no clue what you're trying to tell us. None.
 
allstarflyer
Posts: 3264
Joined: Mon Jan 10, 2005 7:32 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:45 pm

Quoting Singapore_Air (Reply 25):
Quoting DLPMMM (Reply 23):
Why are you saying it was the Republicans?

One could argue that the Republican President told his party what to do and by a margin of rougly 2:1, they disagreed and killed the bill.

Also, such a comment was heard many times on CNBC.

Then CNBC affirms their collective idiocy, and the post up there that assumed that was ignorance at its height. According to the poster above, and seemingly you, the GOP lawmakers together said "no", but it was a collective effort on both sides of the aisle apparently

Edited for content.

[Edited 2008-09-29 12:11:01]
Living the American Dream
 
SInGAPORE_AIR
Posts: 11623
Joined: Mon Nov 13, 2000 4:06 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:45 pm



Quoting Allstarflyer (Reply 27):
but you'd say that Bush was telling "his party what to do"? There's round-the-world disagreement on that one, then . . .

What's your point and the point of those two articles?
Anyone can fly, only the best Soar.
 
User avatar
STT757
Posts: 14179
Joined: Tue Mar 28, 2000 1:14 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:47 pm

The way this works is you don't bring a vote to the floor unless you have the votes, the Democratic leaders in the house had their share of the votes. The Republican leadership who support the bill allowed the vote to go forward without getting enough of their own membership onboard, you don't bring a vote as important to this unless you know who's going to vote what way.
Eastern Air lines flt # 701, EWR-MCO Boeing 757
 
PPVRA
Posts: 8590
Joined: Fri Nov 12, 2004 7:48 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:51 pm

Dow is way down, but so is oil, and the dollar is up against the Euro and Yen.
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
User avatar
johnboy
Posts: 3122
Joined: Wed Aug 18, 1999 9:09 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:52 pm

...and Boehner says Nancy Pelosi forced Republicans to vote no due to her "highly-partisan" speech.

Who knew she had so much power over those fragile, weak-minded Republicans?
 Silly
 
User avatar
DocLightning
Posts: 21980
Joined: Wed Nov 16, 2005 8:51 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 6:53 pm



Quoting MD80fanatic (Reply 5):
You may find the concept of the Amero to be puzzling now.....but rest assured that you and the rest of America are being skillfully manipulated into accepting a supra-national currency (similar to the Euro) in the very near future.

Huh? And the other countries that will be participating in this currency are...?

And you have this knowledge...how?

Did you forget your tin-foil hat today?
-Doc Lightning-

"The sky calls to us. If we do not destroy ourselves, we will one day venture to the stars."
-Carl Sagan
 
User avatar
STT757
Posts: 14179
Joined: Tue Mar 28, 2000 1:14 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:05 pm



Quoting Johnboy (Reply 33):
.and Boehner says Nancy Pelosi forced Republicans to vote no due to her "highly-partisan" speech.

Who knew she had so much power over those fragile, weak-minded Republicans?

So the House Republicans totally F* over the American people to make a point to Nancy Pelosi, time to get these immature ideologues out of the Congress.
Eastern Air lines flt # 701, EWR-MCO Boeing 757
 
allstarflyer
Posts: 3264
Joined: Mon Jan 10, 2005 7:32 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:12 pm

Sorry, Singapore_Air . . . your comment in a way that looked like STT's post, and I can't even remember what I was reading there about Bush. Thanks for pointing that out, both of you, I corrected that. If I remember what I was thinking (probably after I'm off work), I can reinsert it.

Quoting StuckInCA (Reply 28):



Quoting Singapore_Air (Reply 29):

This was the original post I questioned . . .

Quoting STT757 (Reply 21):
The House Republicans killed the bill.



Quoting StuckInCA (Reply 26):
According to CNN: "About 60% of Democrats voted for the measure, but less than a third of Republicans backed it."

Obviously, it wasn't just the House Republicans who slammed the door on the bill - 40% of Democrats followed suit. It sounded like Singapore_Air (along w/CNBC) was backing up the idea that it was the GOP lawmaker's issue.
Living the American Dream
 
User avatar
moo
Posts: 5060
Joined: Sun May 13, 2007 2:27 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:12 pm



Quoting Seb146 (Reply 8):
Unions are just awful. I hate that unions help give us child labor laws, a 40 hour work week, overtime pay. Let's get rid of unions....

So, you've had all those laws for decades now, how much longer are the unions going to be mooching off their past highlights? What value does unionisation bring to the table today?

Quoting Johnboy (Reply 33):
...and Boehner says Nancy Pelosi forced Republicans to vote no due to her "highly-partisan" speech.

Yup, because it *certainly* can't be that there are enough Republicans who are willing to vote in such a way as to not only show up their own party leadership, but their own party President as well!

Utterly impossible  Yeah sure
 
User avatar
Tugger
Posts: 11096
Joined: Tue Apr 18, 2006 8:38 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:22 pm



Quoting Allstarflyer (Reply 35):
Obviously, it wasn't just the House Republicans who slammed the door on the bill - 40% of Democrats followed suit. It sounded like Singapore_Air (along w/CNBC) was backing up the idea that it was the GOP lawmaker's issue.

Actually STT757 sums it up well:

Quoting STT757 (Reply 30):
The way this works is you don't bring a vote to the floor unless you have the votes, the Democratic leaders in the house had their share of the votes. The Republican leadership who support the bill allowed the vote to go forward without getting enough of their own membership onboard, you don't bring a vote as important to this unless you know who's going to vote what way.

The Republican's did not have their house in order (no pun intended) and they should have. Whatever concerns needed to be addressed in the bill prior to it going to the floor should have been addressed. It will be worked out, I suspect, rather quickly and the Republicans that voted against it will be able to crow to their constituents what they did (as good conservative Republicans), I suspect (there's that word again) that is what they were wanting/needing.

Just my two cents,

Tugg
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. - W. Shatner
There are many kinds of sentences that we think state facts about the world but that are really just expressions of our attitudes. - F. Ramsey
 
radarbeam
Posts: 998
Joined: Fri Mar 01, 2002 9:00 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:27 pm

Light crude plunged under $100 a bbl ...Yeah! Big grin
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:32 pm



Quoting DocLightning (Reply 32):
Huh? And the other countries that will be participating in this currency are...?

Please refer to the North American continent on your favorite atlas.

Quoting DocLightning (Reply 32):
And you have this knowledge...how?

Because I am able to read and interpret the english language....and I spend some time reading from sources other than the non-aviation forum on airliners.net.

Quoting DocLightning (Reply 32):
Did you forget your tin-foil hat today?

No, i have it.  banghead 

I wear it because it is stylish. Look Doc, I don't follow trends, I set them. It's the next big thing, really. Not always will people castigate those whose job it is to watch. We call the alarm again and again years in advance.....and the populace simply tunes us out, marginalizing us, having a laugh. Seems the jokes on them, huh?
 
Dougloid
Posts: 7248
Joined: Tue Jul 05, 2005 2:44 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:36 pm



Quoting Radarbeam (Reply 38):
Light crude plunged under $100 a bbl ...Yeah!

Glad we could oblige.


 Wink
If you believe in coincidence, you haven't looked close enough-Joe Leaphorn
 
UAXDXer
Posts: 700
Joined: Thu Jul 22, 2004 3:36 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:49 pm



Quoting Tugger (Reply 37):
The Republican's did not have their house in order (no pun intended) and they should have. Whatever concerns needed to be addressed in the bill prior to it going to the floor should have been addressed. It will be worked out, I suspect, rather quickly and the Republicans that voted against it will be able to crow to their constituents what they did (as good conservative Republicans), I suspect (there's that word again) that is what they were wanting/needing.

Um.... Stop when I am wrong here! But don't the democrats control the House? Couldn't this bill have passed with out one single republican vote? The fact the Pelosi & Franks are blaming the republicans is down right hilarious!

It is really scary that the state of politics has gotten so low as to a what I witnessed today! This scares me more than the state of the economy. Every one of these politicians must be held accountable for their deplorable actions!
It takes a bug to hit a windsheild but it takes guts to stick
 
User avatar
LAXintl
Posts: 25018
Joined: Wed May 24, 2000 12:12 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:55 pm



Quoting STT757 (Reply 21):
The House Republicans killed the bill.

Its not that the Republicans killed it, is that the Democracts who are the majority could not get enough of their own members to even vote for it.

Only 140 of 235 Democrats voted for the bill.

Here is the breakdown;
http://clerk.house.gov/evs/2008/roll674.xml#Y
From the desert to the sea, to all of Southern California
 
EMBQA
Posts: 7858
Joined: Sat Oct 25, 2003 3:52 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 7:57 pm

Quoting UAXDXer (Reply 41):
Couldn't this bill have passed with out one single republican vote?

Short and sweet answer... YES.

Quoting STT757 (Reply 34):
So the House Republicans totally F* over the American people to make a point to Nancy Pelosi, time to get these immature ideologues out of the Congress.

..?????? See above answer

OOHH.. Oil plunged today -$10brl and predicted to fall even more

[Edited 2008-09-29 13:05:51]
"It's not the size of the dog in the fight, but the size of the fight in the dog"
 
AirframeAS
Posts: 9858
Joined: Thu Feb 05, 2004 3:56 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:02 pm



Quoting LAXintl (Reply 43):
Its not that the Republicans killed it, is that the Democracts who are the majority could not get enough of their own members to even vote for it.

It killed by both, Republicans and Democrats. Some Republicans voted against it, per se....
A Safe Flight Begins With Quality Maintenance On The Ground.
 
AGM100
Posts: 5077
Joined: Thu Dec 04, 2003 2:16 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:07 pm



Quoting STT757 (Reply 21):
The House Republicans killed the bill.

Not all Dems voted for it either , and the Dems have the votes (numbers) to pass it. If its such a good plan then let the Dem majority pass it. No problem

No way this should pass , let the Fed loan money to them.. not just give them a big liberal hand out . A hand up not a hand out. If there is 700 billion dollars available , just free it up through the normal Fed window programs and loan it out. What is so hard about it... ?
You dig the hole .. I fill the hole . 100% employment !
 
StuckInCA
Posts: 1657
Joined: Wed Oct 19, 2005 12:55 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:07 pm



Quoting UAXDXer (Reply 41):
It is really scary that the state of politics has gotten so low

I'll agree to that. On both sides.

Quoting UAXDXer (Reply 41):
Every one of these politicians must be held accountable for their deplorable actions!

Sure. As long as we extend our justice-getting back to 2000 at a minimum. And not just on financial matters.
 
User avatar
LAXintl
Posts: 25018
Joined: Wed May 24, 2000 12:12 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:09 pm



Quoting AirframeAS (Reply 44):
It killed by both, Republicans and Democrats. Some Republicans voted against it, per se....

The point is that the Democrats technically needed ZERO Republican votes to pass it.

Nancy Pelosi clearly had no control over even her own members with 40% of them coming out against her passionate please on the bill.

If anything I am actually more surprised 65 Republicans supported the bill as such government intervention goes against most conservative ideology.
From the desert to the sea, to all of Southern California
 
User avatar
Tugger
Posts: 11096
Joined: Tue Apr 18, 2006 8:38 am

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:16 pm



Quoting UAXDXer (Reply 41):
Every one of these politicians must be held accountable for their deplorable actions!

Actually I would say that it's everyone who created this mess that should be held accountable for this crisis:

The Wall Street'ers who created incentives for their executives to cook the books
The shareholders who demanded short term returns over long term financial health
The lenders who looked the other way on the level of risk they were assuming
The brokers who falsified documentation and misused loan types to hype up their fees
The real estates agents who really didn't fight to reduce stupid home prices for the buyers because a higher price meant higher commissions
The appraisers who gave inflated estimates
The home buyers who took on mortgages they could not afford over the long term under the "promise" of ever increasing values and refinancing
The regulators who did not monitor if regulations were being followed
The representatives of the American people who pushed for unwise deregulation and/or improper requirements.

And I am sure we can add more to this bonfire.

Very few are "clean" of this mess.

Tugg
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. - W. Shatner
There are many kinds of sentences that we think state facts about the world but that are really just expressions of our attitudes. - F. Ramsey
 
User avatar
Dano1977
Posts: 723
Joined: Wed Jun 25, 2008 2:49 pm

RE: $700 Billion Bail Out Plan

Mon Sep 29, 2008 8:18 pm

I haven't been following the US recovery plan too much, but one thing that stikes is whilst this is taxpayers money, the theory is that the government can afford to spread the pain across 20-30 years. This is something that commercial organisations can't do. The problem that concerns me is where does this stop - in theory the government could be loading itself with too much unrecoverable debt and the consequences of that don't bear thinking about (and its not higher taxes).

Here in the UK, 2 major institutions have been nationlised (Northern Rock, Bradford and Bingley), i don't agree with has happened, but accept that it needed to be done to stabalise the banking industry, but what I suggest should have happened to NR and BB is that there share price would plummet to a stage where they were ripe for a take over and a good old asset stripping. All there debts would be picked up and savers would be protected. Even investors might have had a small return.

As I understand it the issue is banks not lending to other banks - so in the end the banks with the money will survive and pick of those that are in the red. Survival of the fittest.

[Edited 2008-09-29 13:20:17]
The average EU official - he has the organising ability of the Italians, the flexibility of the Germans and the modesty of the French. And that's topped up by the imagination of the Belgians, the generosity of the Dutch.
  • 1
  • 2
  • 3
  • 4
  • 5
  • 7

Who is online

Users browsing this forum: Aaron747, casinterest, CrackInspector, Reinhardt, speedygonzales, Virtual737 and 26 guests

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos