As of right now, the 15Min delayed quotes shows the dow up 268, the real time quote is up 150 104 40. Close of Market Update: Dow dropped 400pts from where it was when the house voted.
Great job morons.
Can we finally stop calling the passengers of Flight 93 heros?
Updated: The House Clerk didn’t have the right roll call vote up when I posted the list.
This is the correct roll call. The list below is corrected:
Here it is (Bold is a switcher):
From Georgia:
Ayes:
Lewis
Scott
Marshall
Bishop
Nays:
Broun
Linder
Price
Westmoreland
Deal
Kingston
Gingrey
Johnson
Barrow
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Friday October 3, 1:32 pm ET
House Sends Bush $700 Billion Wall St. Bailout- Reuters
“The House of Representatives on Friday passed a $700 billion financial industry bailout bill. The landmark legislation now goes to President George W. Bush, who is expected to sign it into law”
(***Hugo Chavez and Fidel Castro invited to White House to celebrate the first annual U.S. Nationalized Banking – Bailout Day.***)
Linder didn’t cave? I’m stunned.
Motion to change the name of the USA to the USSA (United Socialist States of America). It fits.
Interesting. I just called Hank Johnson’s office in DC (202-225-1605) and the lady answering the phone assured me that he voted no today.
Now is it time to play the blame game?
Anybody want to defend comrad Bush today?
Oh, that is should be “Comrade”.
I better get use to spelling it correctly!
PI says Barrow opposed …
John Barrow, Democrat of Savannah: “The Senate tried to send us something we could all agree on, but all they really did was dress up the same bill we voted on earlier this week with sweeteners to get some members of the House to change their vote. Most of the new items in this bill I have voted for and would vote for again, but not if it means voting for a bailout that’ll do more harm than good. I hope I’m wrong, but that’s how it looks right now.”
The correct term is товарищ
Pronounced tovarishch.
Yes, I’ve been studying up on my Russian. I hope to defect to that democratic capitalist nation soon.
FYI: bishop voted aye.
I guess “Nanny Nancy” Pelosi Whipped the GA delegation into shape.
As I said yesterday, I still expect a steady drift downward on the Dow. The consumer is still over leveraged, and I don’t see anything in this bill that will make commercial banks want to start aggressively lending.
For those that want to use the Dow as a yardstick for success or failure, you’ve baked failure into the cake.
And I still expect various other bailout/handout bills to come. This is the beginning, not the end.
The Bishop from NY voted Aye.
http://clerk.house.gov/evs/2008/roll680.xml
http://clerk.house.gov/evs/2008/roll681.xml is the correct one isn’t it?
Bishop voted for it, Barrow and Johnson against.
This is correct roll call vote:
http://clerk.house.gov/evs/2008/roll681.xml
Your list is seriously messed up.
Chris,
One can only hope that this get’s used against incumbents in the coming elections as well as the elections in 2 years.
As for your heros of flight 93 comment, I just made the connection, as I forgot the revised itenerary of the flight. In this day an age of hysterics, I wonder if the government now considers your a felon for what you suggest.
This thing ‘might” (I use that term lightly) help the big boys but it does nothing for those of us trying to keep a small business a float. We have never borrowed money to pay our employees, so that pathetic reasoning for passing this bill does not work with me.
Why isn’t the DOW up 800 points? I thought this was going to save the world.
Yes, be sure to spell Comrade Bush’s title correctly or he will throw you in gulag.
umustbekidding- if you believe it’s up 800 points, it is up 800 points.
That’s the kind of reason or lack of that’s used in DC.
Meanwhile the GA GOP Senators are flying around the state campaigning……
“Why isn’t the DOW up 800 points? I thought this was going to save the world.”
This thing passing was already factored into the cake. Had it not passed, Dow 9,000 would have been an easy target.
Now, had they passed the Icarus Main Street Assistance Act, the Dow would most certainly be up at least 800 points…
I’m 99% sure that the 9/11 report had 93 heading for the Capitol, which means we lost our one best opportunity to rid the county of these ass-cancers.
It is good to know that George W. Bush managed to do what Bin Laden couldn’t: destroy the American economy.
There is not a single Congress person I would lift a finger to save if they were drowning before me.
If I just want it bad enough it will go up 800 points, right?
It sure did go down fast on Monday. Maybe it went down because everyone was affaid it would pass. It was up today before it passed – funny huh?
Surprise, we have 7 REAL REPUBLICAN Congressmsn & 2 RINO/SOCIALIST Senators. Saxby sold us out to the LOBBYIST, samething he has been doing for the last 6 years. When does opensecrest.com up date for the last quarter where we can see what he got for our vote?
u,
Invest about 100 million dollars buying all the companies on the dow (30) at a price that would be equivalent to a 900 point gain, and Bob’s-Your-Uncle, there you go.
GA Values – AMEN! I will not vote for Saxby. I won’t vote for Martin either. So, either I won’t vote on the Senate race or I’ll vote L!
GA,
Where was that opinion when I was helping Herman Cain in 2004. All the establishment Republicans were going off on how wonder the man is.
Is the only reason people back him because other people look like they are backing him?
Of all the stocks on my watch list, the only one up is BUD. fitting.
we would be better off if they just gave all 300m americans $3000.
Doug
I supported Herman too. He is truely a great man.
I just can’t vote for Saxby.
It is time fir term limits. That way no one has seniority. It may be the only way to get our congress working for us, instead of themselves.
BTW – can I borrow 100 million?
The Dow was up 500 but then they lost 750 cool points. Here’s the full story.
http://www.urbandictionary.com/define.php?term=cool%20points
I just heard someone on channel 2 say it would be easier for people to get loans now. Isn’t that what got us into this mess? Loans should not be EASY. People should qualify. People should be able to AFFORD the loan. People need to live within their means.
WISE
-ER
I called Rep. Hank Johnson’s office today and told them that I had never been more proud of my representative in Washington because of his NO vote. I will go to war for Hank any day because of this. I would encourage those of you fortunate enough to have a Representative who voted against this nonsense to let them know how much you appreciate it.
And I would encourage all of you to vote against Saxby Chambliss for betraying the citizens of Georgia, his supposed conservative principles, and our children and grandchildren who will bear the burden of this debt for their entire lives.
UMust,
“If I just want it bad enough it will go up 800 points, right?”
Yes, it will. It’s called “Psycho-Cybernetics-2008 Edition.”
Write it down on a 3×5 card. Say it aloud every day. Talk to yourself in the car. Curse Saxby Chambliss. Later…Rinse…Repeat…
The market is going to go up and down for a while and volatility will likely persist until inaugeration day. I am no financial guru, but someone who has watched the market closely for a long while and remember distinctly just prior to the last 2 elections the market was extremely volatile. Market volatility has more to do with the psche of uncertainty than any thing else. For these morons in congress to to allude the market will settle out because of them voting the bill in, is absolutely preposterous. Incidentally I was watching C-Span and there were democrats on the floor of the house making great arguments against this bill, and they sounded like conservatives… so in this crazy mixed up world we have true dems sounding very conservative and then pantywaist republicans going along with the vote to go like sheep with the herd.
The only solution now is secession. God Bless America.
Wonder how many of those House members were trading stocks on their Blackberrys while speeches were going on about the bill?
I sent a note of Gratitude to my congressman John Linder who had it right all along.
What get’s me is that mainstream media ALSO bungled this thing bigtime. There was a piece of legislation called the No Bailouts Act by Oregon Congressman Defazio that didn’t even get a single look and it would have COST ZERO. It would have called on the SEC and FDIC to do what it was intended to do. Period. No Bail Out , No money, No welfare to irresponsible lenders or lendees.
I am extremely angry and yes, bitter because I believe George W. Bush and his cronies have caused America to become even weaker by his policies and this craziness of the last 2 weeks. IMHO, it was about him seeking a legacy for actually doing some good.. and the good is yet to be seen, if it ever comes at all.
God forbid if we something else happens to us.. like an attack or natural disaster. WE have not invested in American ingenuity, imagine of all that money was spent on infrastructure of a long range energy plan for nuclear, natural gas, wind, solar an biofuels…. imagine all the jobs that could have been created …instead we buy up ….bad paper.
This is the first Time Linder has done something that I could applaud.
Did your head explode?
I find myself in surreal territory myself thinking that Indy and Goldwater might be right on the need to the GOP to die away.
No Bailouts for the Republican Party!
Actually, this deal has made me literally nauseated.
Linder finally held true to conservatism, but only after inflicting years of damage.
His turnabout was negated by that of Marshall, who now deserves being thrown out on November 4.
Yes, the Republican Party of Bush, Boehner, McConnell and McCain deserves summary execution.
The GA Republicans deserve credit for FINALLY doing the right thing and going the opposite way.
We need SOMEBODY left after the ditching of Saxby.
We need also to recall Isakson.
Unfortunately the fools (who do not understand that it was government policies and not the free market that caused this mess) in the media are declaring the death of Reagan conservatism along with the announcement of the start of new era of big government regulation.
McCain does not deserve to be elected at this point. He had a golden opportunity to get the Federal Government out of the middle of the mortgage market, but choose to vote with the democrats instead.
Here is my opinion of this mess:
http://www.safehavenpointe.com/signs.html
Anyone know a sign maker?
I can make signs.
I am about an inch away of withdrawing $2000 and getting a thousand made and posting them all over midle georgia.
Of course I would probably run afoul of some federal election law, but I think that would make great publicity, perhaps I could have Marshall’s (or isakson’s) seat in 2 years.
Bud is up because they came out with American Ale, Bud finally recognized that the fundamentals of American ingenuity is alive and well in middle America and if Bud wanted to compete with the micro breweries they might have to produce something besides barley water.
cruzchev said the Soviets would take over America from with in, he just didn’t know he would have to wait 55 years until January 20, 2009.
A totally unnecessary bailout. Robbing middle class Peter to pay deadbeat Paul. The causes are mostly not fixed, such as continuing mandated lending to poor minorities who can’t afford the house – so more trips to the powertrip pols WILL occur.
Correct Harry, paying deadbeat Paul’s drug dealer.
There was a great op-ed in today’s AJC not written by any columnist.
I think it was a guy named Cary Ichter. Anyway, he suggestd that the industry bail itself out by applying a tiny transaction fee on each stock, bond or derivatrive transaction and raise money that way.
Something like $2.50 charged per $1000 value of the transaction.
Great idea…but, of course…all we have representing us in D.C. are people like Hank Paulson who only think of scooping out OUR tax dollars to save the bastards on Wall Street.
You have to give Pelosi credit. She played rope-a-dope with the GOP and won bigtime. The first defeat was a setup. The congressional black caucus voted no for the most part, which gave her the excuse to lard up the bill and bring them on board for the finale.
Read the Community Reinvestment Act as amended in 1993 and 1999. If lenders do not meet specified targeted quotas, they receive unspecified punitive treatment meted out by a bureaucrat, which includes such things as the government not allowing new branches, mergers, etc. This practice continues post-bailout, and assures there will need be more bailouts in the future. Guess who pays the freight.
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