HOUSE REPUBLICANS PUT UP HISTORIC FIGHT!

[Hangtime]

You go, Congressmen!

207 yea, 226 nay. House republicans vote overwhelmingly against the bailout. Massive arm-wrangling going on now.. hope the Republicans and a few brave Democrats continue to hold firm. I just fired off an email to my Rep, 'FIGHT!!, VOTE NO ON THE BAILOUT!!.. or I'll be voting NO for you in November!'

They could use a lil encouragement.

[Chalenge]

This is good news! They could keep the vote open for a very long time though. 

[Yeager]

the market wants that big governemnt tit to suck on,  BAAAAAAD......

[Hangtime]

Hit 'em! Bombard them with VOTE NO email! Get your representative off this list.. and HIT EM!

 http://www.visi.com/juan/congress/

[Dos Equis]

I can almost hear the phone call from GWB:

GW: "Hey now, I need you to get in line and support this bailout."

Rep: "Screw you, lame duck - if I go for this - I'm cooked in November."

[Maverick]

Well they succeeded in killing the bill it seems for the time being. The market has responded. I hope those that thought the idea was not good can celebrate with the more than 700 point downturn in the market today. Losing 400 points in 10 minutes is really nice isn't it.

http://news.yahoo.com/s/ap/20080929/ap_on_bi_st_ma_re/wall_street

 Nice job there looking out for the country and the economy.

[Hangtime]

LOL.. did you invest poorly?

The money is gone... the bill will not bring it back.

[Carrel]

Is there a list showing who did, and didn't, vote yes or no?

[Mr No Name]

look, the market needs a correction, we have propped it with too many artificial bubbles... it will be tough on all of us but this is something we can more easily fix now than if we saddled ourselves with another trillion of debt.

[Toad]

Well, we can look short term or long term. Long term this bill as written would cause more damage than the short term pain the defeat will cause.

I'll stick with DeFazio. This thing will get fixed but there's no way we should allow them to railroad through a bill that saves the yachts of the Richie Rich guys while the average schmoe taxpayer foots the bill.

DeFazio, a Democrat, said the plan would benefit the same executives who created the financial mess in the first place.

"If we pass this bill as they proposed it, we'll do an incredible disservice to the American people," DeFazio said in a fiery speech on the House floor. "What if it doesn't work? You have the execs come out whole and they scoot the money offshore. What's the next step?"

As proposed, the bailout plan gives Treasury Secretary Henry Paulson the keys to the U.S. Treasury without oversight or restriction, DeFazio said. He called for a deliberative approach that avoids acting in haste -- as he said Congress did in 2002 when it gave President Bush authority to invade Iraq.


"We shouldn't be rushed into this. If it takes a week, two weeks, three weeks, a month, the world will wait," DeFazio said. "They'll wait for a thoughtful plan that cures the disease in addition to getting us beyond this initial problem. That's the job of this Congress. We should not be rolled by our Wall Street exec who is masquerading as secretary of the Treasury."

[Hangtime]

We can handle a re-adjustment. A government induced depression that lasts a decade and leaves us with a nationalized banking system is failure.

Freedom means a free market. Enforce fraud legislation. SEC should do it's job.

We should do ours.

VOTE NO!

[Mr No Name]

Looks like www.house.gov is jammed!  LOL  (at least from the route i have to take - all other websites work fine)

[crockett]

If more banks start failing and your money is lost.. How will you spin that it's somehow the democrats fault then? While I don't support bailing out companies whom fail, this could very well be the decision that causes our economy to fail.

The simple facts are like it or not, with out banks giving out credit the economy dries up. Jobs get lost and banks close and it turns into a vicious cycle that could very well bring down this country. If foreign investors can't trust our banks then they will stop investing here, which causes even more issues.

I'm sure I'll be called a liberal or some other O'club right winger choice insult of the day, however I will be interested to see in a few months if things turn south more than they are today. How will you guys try to blame it on the Democrats.

Not approving this bail could very well cause a run on the US banking system which could cause even banks that are not in trouble to fail. WaMu failed for this reason, people were pulling their money out in droves and while the bank was in trouble that is what caused it to finally collapse.

So far we have been lucky and the federal govt has been able to turn to other big banks to buy out most of these failed banks. However if the govt shows it will not support the system the companies will not so easily be persuaded to buy out the failing banks. It will end up being the Fed whom has to flip the bill. How many banks do you think the Fed can actually cover if it goes bad?

If you don't think we are in trouble then you need to check out..

http://www.fdic.gov/bank/individual/failed/banklist.html

When you start adding up the amount of money these banks were worth it dwarfs bank closures from any other time in history.

[Toad]

Well, I'm sure you'll note that Pelosi couldn't resist getting one last shot in at Evil Boosh before the vote. Pissed off enough Republicans that it failed, at least that's what the talking heads are saying right now. WTG Pelosi eh?

I wasn't for it as written. Because this version failed doesn't mean there will be no bailout. What it means is that there's going to be a better version that protects the taxpayer to a larger degree and allows Richie Rich and his pals to take a double dose of the pain themselves. God forbid they have to sell the yatch! How will they get out to their private islands in the Med?

Now that the attempt to railroad this through on the backs of the Average Joe has failed, perhaps they'll settle down and write a fair bailout bill that doesn't punish the taxpayer for Richie Rich's screwup.

[Hangtime]

crockett.. why is it a partisan issue? Why do you always go for the party line jugular? Toss yer democrat suit out, and use yer own brain... if you have one. This is not a partisan issue. The guy leading the fight against this in the house is an honest 11 term democrat.