Except the people who caused this mess are betting on our money. F'em let them wait for it, that is if we decide to give it to them at all.




http://money.cnn.com/2008/09/30/markets/ma...dex.htm?cnn=yes

I concur...

Have we been had? I'm more convinced now than ever that we need to look into this bailout and really examine it before we let any more tax payer money go to anymore bail outs and I'm telling my congressman just that.

they seem to be rebounding which makes me even more suspect of the 777 point drop yesterday...just a few minutes agom on cnbc, they were debating that folks, like me, see no reason for the bail out since the markets are rebouding....if they drop by the closing bell you know it all apart of the shock doctrine

What's different, Today we PROVED the Bush plan was crap and fraud, because the feds dumped $630 billion (For the math impared 700 - 630 = 70 difference) and before the vote and still the markets tanked. Proving this is NOT a liquidity problem it's a TRUST problem.

Of course this is my opinion and your welcome to tear holes in my opinion given you have sources you can backup your claim.

I just got off the phone with my congressmans office and they had also taken note of this miraculous recovery. They told me that is why he didn't vote for it, because he saw things that didn't add up. Whatever the market does from here on out this just proves Bush's plan was a scam the likes of the one that got us into the Iraq war. Why do we even listen to a man with a 19% approval rating?

I won't tear holes, I agree with you. IMO, it is definitely a trust problem....they have pumped a ton of liquidity into the system over past weeks. Unfortunately, that trust problem has repercussions if banks won't lend to each other because they don't trust each other's balance sheets. I recall Wachovia's new (July) CEO say less than two weeks ago that they had 'only' 10B toxic debt on their balance sheets out of 500B. Wrong. It ended up being 42 Billion. Ooops. The market has a way of working bad stuff out over time, but when these guys are not showing their cards, no one trusts anyone.

This credit stuff is biz-to-biz first, then it works its way down to we little people. I think that this is what they want to address first...the crisis looming. I am just not sure at all that the bill that they propose does anything substantial to address it. It looks like a $700B gamble with taxpayer funds. I like to play the ponies once in a while, but this is a gamble that I would not place a bet on.

Back to the drawing board. Address the foreclosures head on, and fix the main street issues at the crux of the problem. It won't go away without it. I am no economist, but their are other ways to address the credit crisis that may address the banker trust issue more effectively.

If repugs don't go along, and want to stick it to the Dems at election time for passing this bill, ignore what they want, and do what we NEED. No one in their right mind can think that making banks buy insurance would work anyway. Hey r'pigs, how did those Credit Default Swaps work out for ya? That was insurance against losses on those mortgages, so their 'fixes' are total BS. Ditto for slashing capital gains, and reducing the Corp tax rate. These guys are total morons. They will not leave the Raygun trickle down legacy...and will kick and scream whilst the boots are still firmly planted in their asses as they fly out the doors of Congress.

Randi just beat me to it, it was a bait and switch/ fraud. Hence todays rise.

So what's different today from Yesterday?

Nothing.

Like I said. Manufactured crisis, manufactured hype, everyone just needs to stop, take a breath, and look at the problem rationally, before we go off half-cocked and make some damned stupid mistake that bankrupts the country.

Uhh, yeah. Like I said yesterday, look for the "Miraculous Rebound" in the stock market by Friday.

Randi is right - it's all a sham so the Republicans can steal more money from the US Treasury.

Now they are saying they expect a bill by Wednesday thats why the market rebounded. Bullshit! I also told my congressmans office to exam this as if they were doing a colonostomy.

The market is as temperamental as hell and cannot be trusted to provide an accurate view of what is happening on a daily basis. If you want to see what is happening with the market, you need to watch it over an extended period of time and compare those findings with the political shinnanigans of the day. If you want to see what was happening in the market for the Clinton years, take a graph of it's performance and compare it with that sham of an impeachment process.

If you want to compare what the market is doing now as compared to during the Clinton years or during the 1930s, take a compilation of data from a period of time and compare them. To go day by day with the stock market, that will drive one to insanity. If you want an accurate view of our economy, going off of daily stock market info is as reliable as trusting W when he said that he needed to invade Iraq.

I told you yesterday that the market would make a "Miraculous Rebound" and I'm an economic dodo.

Randi is right - this is all a SCAM.

I know, hey 5by5 where did that 700+ drop ie. $1.2 trillion dollars go yesterday?

I keep hearing on the teeeveee that the markets lost it. Somebody please put an APB on that $1.2 trillion.