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Posted on September 30 at 9:41 p.m. (Suggest removal)

The bill is coming back for a vote possibly as soon as tomorrow with some more twists and it will likely pass this time...

Back to reading my books on Fibonacci Analysis, and Demark indicators.... :)

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 8:46 p.m. (Suggest removal)

Ha I have just been off for a few days after putting in some long hours... LOL

I don't require anyone coming to my assistance since I have never really been a one to run with the herd...

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 5:12 p.m. (Suggest removal)

Real Socialist/communist economic thought would nationalize the auto industry not provide a loan...

As for the auto industry loan program, backers insisted that it was not a bailout and said the money would be repaid. They noted that a so-called bailout program that provided $1.5 billion in loan guarantees to Chrysler in 1980 turned a $313-million profit for the taxpayers plus people kept there jobs intact.....

**Any business that needs to borrow money for every day expenses is probably just about to go under, and needs to go under for the benefit of everyone.***

Tesla just got extra funding. It completed a $40 million round of bridge financing from Valor Equity Partners and Elon Musk. If and when it goes IPO it will have to start borrowing money to grow, but hey maybe they should just crash and burn too since they will not have enough money up front to build factories and buy materials to start mass production....They will have to get financing just like any other company wanting grow.

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 2:39 p.m. (Suggest removal)

If the bill does not pass later this week or next Todays gains which hardly recovered the trillion dollar losses yesterday will be looked back on as a dead cat bounce :)

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 2:21 p.m. (Suggest removal)

Libor Rises Most on Record After U.S. Congress Rejects Bailout
http://www.bloomberg.com/apps/news?pid=2...

Think we are off the hook by not passing the bill?
Adhoc meaures are being put in place that may cost as much or more than the bill that was defeated..

Federal Deposit Insurance Corp FDIC is seeking authority to temporarily raise deposit insurance limits from $100,000 to 250,000

The Federal Reserve more than doubled the size of its dollar-swap line yesterday with foreign central banks to $620 billion.

Lawmakers received a flurry of calls demanding that they revive the U.S. economy after the House's rejection of a $700 billion financial-rescue plan triggered a record drop in stocks, House aides said.

The calls countered an earlier outpouring of opposition to the legislation.

``A lot of people called to complain about losing their shirt,'' said Sean Brown, press secretary for Republican Representative Joe Barton of Texas, who opposed the measure. Calls have gone from overwhelmingly against the bill to about 60- 40 or 70-30 in favor of it, Brown said.

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 7:23 a.m. (Suggest removal)

Well all I can say to those on this board against thawing the frozen credit markets.

Hope your right for the sake of small companies and young families looking for a lender to purchase that next car with lower MPG or a home etc. Doesn't matter to me in that regard. I paid off all my debts earlier this year then made the mistake three months ago in having confidence in american business and then taking some of my cash and investing (loaning them money) so they can continue to grow. My only loss so far amounts to 7k in the market and 25K in my 401K. Maybe that isnt to bad compared to others. Maybe I can follow the sentiments of all those not willing to help thaw out financials and start gradually pulling out by divesting in small companies and large and instead put the ever weaker dollars under the mattress till the mattress is worth more then the paper under it..when many people on wall street start doing that and jobs continue to dry up all I will say is to those caught in the turmoil on main street is tuff, just suck it up wall street had too, did you expect to come out unscathed?

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 30 at 12:44 a.m. (Suggest removal)

I have read it.
Clearly stated this is not the perfect bill but better than no direction at all.
Once the bad debt is picked up there is real property underneath the bad paper, that can be unwound sometime down the road when the economy has recovered. Meaning some of the intial money layed out could be recovered.

SEC. 103. CONSIDERATIONS.
In exercising the authorities granted in this Act, the
Secretary shall take into consideration—

(1) protecting the interests of taxpayers by
maximizing overall returns and minimizing the im
pact on the national debt;
(2) providing stability and preventing disrup
tion to financial markets in order to limit the impact
on the economy and protect American jobs, savings,
and retirement security;
(3) the need to help families keep their homes
and to stabilize communities;
(4) in determining whether to engage in a di
rect purchase from an individual financial institu
tion, the long-term viability of the financial institu
tion in determining whether the purchase represents
the most efficient use of funds under this Act;
(5) ensuring that all financial institutions are
eligible to participate in the program, without dis
crimination based on size, geography, form of orga
nization, or the size, type, and number of assets eli
gible for purchase under this Act;
(6) providing financial assistance to financial
institutions, including those serving low- and mod
erate-income populations and other underserved
communities, and that have assets less than
$1,000,000,000, that were well or adequately cap
italized as of June 30, 2008, and that as a result
of the devaluation of the preferred government-spon
sored enterprises stock will drop one or more capital
levels, in a manner sufficient to restore the financial
institutions to at least an adequately capitalized
level;
(7) the need to ensure stability for United
States public instrumentalities, such as counties and
cities, that may have suffered significant increased
costs or losses in the current market turmoil;
(8) protecting the retirement security of Ameri11
cans by purchasing troubled assets held by or on be
half of an eligible retirement plan described in clause
(iii), (iv), (v), or (vi) of section 402(c)(8)(B) of the
Internal Revenue Code of 1986, except that such au
thority shall not extend to any compensation ar16
rangements subject to section 409A of such Code;
and
(9) the utility of purchasing other real estate
owned and instruments backed by mortgages on
multifamily properties.
http://www.latimes.com/media/acrobat/200...

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 29 at 10:50 p.m. (Suggest removal)

By JUSTIN FOX
1 hour, 35 minutes ago

http://news.yahoo.com/s/time/20080930/us...

By voting down the proposed $700 billion financial bailout package - and causing a spectacular stock market rout - a majority of members in the House of Representatives made a clear statement that they didn't want to put taxpayers on the hook for the failures of financial institutions.

But there's a catch: taxpayers are already on the hook for the failures of financial institutions, and it's possible that the bill will actually be larger without bailout legislation than with it. That's because the regulators who mind the financial industry - the Federal Reserve, Treasury and FDIC - will keep doing what they've been doing: stepping in to prevent the chaotic failure of banks and other large financial institutions. This means continuing to put hundreds of billions of taxpayer dollars at risk, but in a way that adheres to no clear plan of action and doesn't require members of Congress to explicitly approve their actions.

Federal authorities are going to keep doing whatever they can to keep the financial system from collapsing. Taxpayers will bear the risks and the costs of that, whether Congress votes to put them there or not. And it's possible - although nobody can know for sure - that this ad hoc approach will end up costing more than an up-front $700 billion bailout.

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 29 at 10:44 p.m. (Suggest removal)

Since we are talking Blood.
Gushing alot of blood quickly and unrestricted (law doesnt pass) usually kills the victim.
Attempts to slow the bleeding and if needed giving the victim blood (law passes) can increase the chance of survival.

"The outlook is that if the House of Representatives comes out on Wednesday and says it's going to approve something, the market may suddenly turn around. This [market] isn't based on any fundamentals any more," Just an attempt to turn things around by washington will add confidence to the markets..

On Young votes no on bailout plan, which fails in U.S. House

Posted on September 29 at 10:20 p.m. (Suggest removal)

Pass the bill = Recession
Don't pass = Depression
700 billion blank check is media mis-information and came from the start of proposing a bill to aid the economy which had not been completely thought out.
Politicians short on time hammered out a bill that was far from perfect but wasn't a 700 billion dollar blank check either.
lawmakers from both sides like children didn't want to step up and lead the US out of this mess, instead they have chosen to bury there heads like many commenters on here or point fingers at whose fault it is.
Many comments suggest the failure of the bill was the right move and it's good to punish those on wall street.
There is no doubt there are bad people within wall street that deserve punishment or stripping them of the rights of the golden parachute but don't forget millions of hard working people invest via mutual funds, 401ks, and direct investment in the markets.
The State of Alaska is also heavily invested in the market and will also be punished.
Yes I have money in the market, directly and through my 401K and the companies I have invested in provide jobs and create products or move the products from point a to b many of these companies share values are being punished without even being the cause of the problem.Most have been doing okay despite the declining economy.I can only hope that they will manage to weather the storm despite some of the companies being small cap companies.
Finally for all that are cheering the destruction you won't be cheering very long if no leadership comes from washington and a depression develops opposed to just a recession. All the numbers on wallstreet reflect the confidence of the USA (today a trillion dollars vanished from the market), some help in the right direction can encourage confidence and stability, todays bill did not give out a blank check and may not have fixed the problem but it probably would have at least prevented the blood gushing on the streets of wall street today.

On Young votes no on bailout plan, which fails in U.S. House