224 Nay votes with the clock running out of time. Simple majority vote (218 votes) were needed for it to pass. Stock Market is crashing.
The market stock market is rebounding right now. The Dow was down 681 a few minutes ago, now only down only like 494.
Apparently, everyone on the trading floor stopped waht they're doing and is staring in disbelief at the board where the house vote is being shown.
not a surprise, the whole thing is a joke. let the stock market crash, people need to learn from their mistakes, it's that simple
On the bright side, while my representative probably voted against this bill, he sent me a letter saying that he is going to bring my complaint against ESPN up to Congress!
Fuck. Letting people learn from their screwups I agree with. Letting me suffer more than I must for other people's screw ups I don't agree with. And voting down the bailout is putting all of our asses on the line. Let's cut this down to the basics. 1. This mess is largely the fault of the Democrats. 2. The Democrats have the votes to fix it on their own as well as the supposed mantle of responsibility that comes with leadership, but the fix is extremely unpopular. Because people don't really understand just how bad and wide-ranging the repercussions of failure will likely be. 3. Hence, the Democrats are going to let things go to shit because then they've got a better chance of keeping their jobs. Sure, the Republicans are playing their interests, but in the end the Democrats were the cause of this mess and they happened to also be the guys in charge. Someone explain to me the logic that says that, if the situation is so dire the Republicans should willingly commit suicide to prevent it, the Democrats shouldn't. It's a classic ultimatum game from a strategic behavior perspective (and thus morally neutral), but if you factor in any sort of ethical notion of leadership and responsibility, it's pretty much a no-brainer that the Dems need to pass it even if it means taking it on the chin.
now I'm reading that the Fed Reserve is still placing 630 billion into the global financial market...................more proof that corporations have more power than govt.
If I understand the "bailout" correctly, it's essentially a guaranteed investment, correct? The country would be buying low and eventually selling high, ending up with more money than we put in to begin with? If that is true, I can't see why anybody would be against it, considering how bad things will get if we don't do it.
So... basically the government refuses to get involved in what's obviously a crisis, just like 1929. If I wasn't directly affected by this, I'd laugh my ass off. Depression here we come!! Strap yourselves in!!
