OK - This is just beyond me. What happens now? Assuming that this bill dies permanently (which seems likely) then Congress is done, yes? Everyone goes home and thinks about re-election, I guess. Does that mean the gov’t just let’s this happen? This bill didn’t work and I guess that means we can’t get a better one that will do something? What the heck is going on here and how could these people be so stupid as to pin all the economy on this 11th hour thing and have it voted down? WTF is going on?
redraft the bill w/ more limitations/stipulations, then maybe next time around the congress will pass the legislation. until then, we’ll see more market turmoil + volatility. i’m afraid (even though my gut tells me to start building positions in beaten-down names) to put good $ after bad.
Well for now we have Roshashana [spl?] so people will have some time to adjust but here’s what I’m thinking. The whole point of this Bill was to “bail out MAIN street” NOT Wall Street. I’m sure that members saw through the smoke and mirrors pretty quick. I mean I figured it out this morning at about 8 o’clock. If they subsequently come back to approve it Thursday after today’s market bloodbath then we’ll know that Washington’s relationship with Wall Street is totally x-rated. Willy
Politicians are just like garbage, they all stink. Most politicians have probably never even taken an Econ 101 class in their life, all they care about is reelection and figure they will still have a position even if we are in a depression… They don’t care about the economy they care about themselves.
Im not voting republican anymore
It was teh Dems also, 95 voted against!
The more we get into this crisis the less and less I think of Congress and their abilities. To let it go this far is one thing, but to let it go this far, tell the American public that a bill was in the works, but we just have to work out the details and vote it down is just wrong. The worst thing about it is that I bet they think it is just another bill that they are voting on and don’t really understand the full repercussions and the magnitude of their action and inaction.
This is all. ALL. CFAIs fault. They have not issued a finger pointing advertorial in ages. Willy
Go Canada! But seriously…sigh.
Well Canada’s going to get wacked pretty hard about this also kcin. We aren’t immune to this. Willy
I know. We avoided most of it for quite a while but we are starting to see the impacts first hand. *Waves a tearful goodbye to near term prosperity*
I’m trying to figure out the value of the market cap drop in the S&P today. It closed on Friday at 1213, and now it’s down to 1134 (6.5%). But what’s the loss in market capitalization?
Soon the house flippers will be burger flippers! BWAH HAH HAH HAH!!!
frisian Wrote: ------------------------------------------------------- > I’m trying to figure out the value of the market > cap drop in the S&P today. > > It closed on Friday at 1213, and now it’s down to > 1134 (6.5%). But what’s the loss in market > capitalization? Like 25 trillion * 0.065 but more than double for around the world effects just on equities. Looks like GWB, Congress, et. al. had another -$3T wealth evaporation day.
on a happy note, we won’t be paying 700B, and i made 40K trading futures today in 1 minute today (but probably paid for it with a near heart attack).
haha -$3T Wealth Evaporation Day that should be a holiday for future generations ‘Hey mom, do we have class off on Monday for Wealth Evaporation Day??’ ‘No, little Johnny, you already know the answer to this - you go to private school. Only Congressmen, public schools, and State and Federal Agencies have Wealth Evaporation Day off.’ ‘Awww Mom thats not fair’ ‘I know little Johnny, it never is’
Re: What happens now? Posted by: rohufish (IP Logged) [hide posts from this user] Date: September 29, 2008 03:08PM on a happy note, we won’t be paying 700B, and i made 40K trading futures today in 1 minute today (but probably paid for it with a near heart attack). - - - - - - - Did you put in an option to short sell and then buy really quick the mkts upon seeing the bill get possibly rejected? What was the trade you executed?
you guys should have heard barney a second ago - hilarious he was responding to the stupid, pathetic argument by boehner that pelosi’s tone was too partisan, so many republicans voted no. barney: “thats like saying that you hurt my feelings so i’m going to punish the country” “tell me who these reps were, and i will go talk to each of them uncharacteristically nicely, so they vote YES” classic, i love this guy barney, he’s hilarious
projectplatnyc Wrote: ------------------------------------------------------- > The more we get into this crisis the less and less > I think of Congress and their abilities. I’m sure they have a better case for thinking less and less of the Finance Industry and our abilities, lets not forget who made this mess. > To let it go this far is one thing, but to let it > go this far, tell the American public that a bill > was in the works, but we just have to work out the > details and vote it down is just wrong. Yes, this is very different from the finance industry’s highly leveraged investments in miracle AAA MBS that turned out to be worth sh*t. > The worst thing about it is that I bet they think > it is just another bill that they are voting on > and don’t really understand the full repercussions > and the magnitude of their action and inaction. The last time we rushed them into a fear driven decision we wound up in Iraq, i’m tempted to say they’re proving they’ve learned their lesson well. You know what, I’m sick of all of your b*tching and moaning. There’s enough finger pointing and pessimism to go around, but we definitely need to detach ourselves from our positions in the markets and make decisions based on the long term success of the economy.
Great…how many of you are looking forward to the “what should I do with my money?” calls frkm family and friends tonight?