First, this is GOOD for Obama.

This bill would have bankrupted the government, and made any of the reforms that Obama wanted impossible. THAT WAS THE POINT OF IT.

This was Grover Norquist's wet dream, and it's time we slapped that fucker and moved on with fixing the country.

Any help the financial industry needs could be achieve a MYRIAD of other ways, and now they need to go find those way ON THEIR OWN.

As for the mortgage crisis, that is real, but the people you should be helping are average Americans to help them renegotiate their loans and maybe even throw them a bone like a one-time $10,000 grant, and give financing for first time buyers at REASONABLE rates via government grants (which actually would cost less than this stupid bailout) and much of the other problems with the financial industry could be fixed with simple rule changes that won't cost a single fawking dime.

But what people should NOT do is get all hysterical and wierd.

Just take a breath and clam down, the world is not ending, this was actually a GOOD thing.

ICAM, there is an opportunity for more concessions in the next Congressional session.

I am not worried personally. I'm ready for Paulson/Bush to cave to Pelosi.

Just think how badly McLame needed this. I'll bet he shit his depends this afternoon when he found out he will not be able to say "Republicans" fixed it.


Barack Hussien Obama, do you solemnly swear.........

The markets started slipping HOURS BEFORE the vote. Don't even try to tell me that this hysteria was NOT manufactured.

Watch for the "Miraculous Rebound" in the markets by this Friday.

Did you see Bush make his statement following the vote? He was actualy kinda lucid - like they took his drinky away. But he looks a mess. Slumped down and hair all over the place. Like a guy who just finished screaming a couple minutes before sitting before the cameras.

This is SO a manufactured hysteria, fed by the corporate media.

It's only self-sustaining if we buy into the BULLSHIT.

Personally, I don't.

And one reason WHY I don't, is because the Republicans hadn't yet completely decimated all the protections F.D.R. put in to protect the American economy from just this sort of thing. The only reason why you have the "crisis" you do, is because they started dismantling some of those safeguards.

They have only themselves to blame, so as far as I'm concerned, let them pay the price. Fuck 'em.

I'm not jumping on the chaos bus just because Bush tells me too. But then I never bought ANY of his bullshit all the way back to the Iraq War resolution.

Also bear in mind that taking on an extra trillion in debt would have destroyed what value the dollar has left.

If anything, we will have the momentum to restore Glass-Steagall come January. Maybe even Pelosi will be able to say, "look, we're open to solutions. We tried it your way, now let's try it OUR way!"

Glass-Steagall is going to be key to LONG-TERM confidence and stability.

FDR was right. I just hate that we had to learn that lesson this way.

Chickens came home to roost in his hair.

i dont think this will hurt obama but I think the dems need to take the offense on this...mccain just released a statement blaming obama and when it happen obama did not...

frank is the only one kicking their asses!

EXACTLY.

No decisions on this should be made until Democrats are running the show. I don't trust the Republicans as far as I can throw them.

Adam--yep, I saw that at 6:30 this am, CST, from around the world markets, so they are once again lying to us, what a shock.

Felixxe--I saw that too. I thought he was gonna start a tantrum any nano second.If it wasn't so late in his term I'd buy a Bartcop t-shirt with Worst Prseident Ever, why bother now, everybody knows it except the idiot class.

5by5--I also agree, we need to make everything tentative, that there is a clause that says this can all be changed outright by the next administration, we should not get locked into anything they propose, that would be suicide. Here we are a week or so later, does anyone even remember what Paulson wanted originally? I do, the right to throw the cash wherever he wanted to throw it, that was their initial plan, that alone tells us what's up.

Thank you, 5.

As soon as I read that, something in my head finally went "CLICK".

I totally get it now!

However, my <3 is sad because Tammy Baldwin voted yes on this.

PS--Then when Obama mentioned that some of his reforms might have to be delayed because of the alleged crisis, was that a test flare to see if we were putting two and two together?

Another key point was made in that McClatchy article I posted a couple days ago, by one of the 200 economists who said the bailout was a crap idea:



So temporarily change one rule, let things calm down on the markets and go through a natural correction, and allow home owners to renegotiate their loans, then reinstate the rule along with the Glass-Steagall regulation and the old anti-usury laws that protect consumers from these predatory credit card companies.

Cost? ZERO.

YES.

Was fun. Someone finally said NO to the legacy frat brat.

If no one saw Pelosi's speech before the vote, it was very balanced. Kucinich was good too. Lots of speeches today on the House Floor. Very interesting.

Now let's spank him. And not in the fun way.

I agree with you that THIS rushed-with-Cheney's-rifle-to-your-head legislation totally sucked --- and even better: Grampy the and his histrionics look even more ridiculous this week than they did last week. I'm not a believer, but it seems like divine retribution for the repugs, big time.

LOL! Good one!

Yeah, this was Cheney et al trying to shoot We the People in the face.

To quote that New Orleans resident, "Fuck you Cheney. Fuck you."