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Old 10-03-2008, 02:50 PM
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Default Bailout Passes

Looks like 4/5 of our Representatives voted for it.

Frank Lucas did not.

I have mixed feelings about it all. It needed to be done, but I wish we had just passed Paulson's bill instead of loading this thing up with hundreds of pages of pork.
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Old 10-03-2008, 02:54 PM
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Default Re: Bailout Passes

I feel the same way.

The proverbial rock and hard place.
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Old 10-03-2008, 04:06 PM
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Default Re: Bailout Passes

Unfortunately, this bailout will make everything worse. With the passage of the bill, all eyes were optimistically on Wall Street. The bill passed around noon. The Dow closed down 160. Time will tell, but if today's market is any indication of Wall Street's response we're in for a loooong rough ride.
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Old 10-03-2008, 04:10 PM
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Default Re: Bailout Passes

Stock market =/= the economy.
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Old 10-03-2008, 04:14 PM
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Default Re: Bailout Passes

Quote:
Originally Posted by Midtowner View Post
Stock market =/= the economy.
On Tuesday, the media certainly tried to convince us otherwise.
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Old 10-03-2008, 04:59 PM
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Default Re: Bailout Passes

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On Tuesday, the media certainly tried to convince us otherwise.
The media also tells you how bird flu is going to kill us all when it killed less people than soda machines did in this country last year.
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Old 10-03-2008, 06:28 PM
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Default Re: Bailout Passes

Smell, You are spot on correct!
Journalism is not the most difficult and demanding degree program.
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Old 10-03-2008, 06:37 PM
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Default Re: Bailout Passes

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Originally Posted by NativeOkie View Post
Smell, You are spot on correct!
Journalism is not the most difficult and demanding degree program.
I've got no issues with the degree program. I'm sure it turns out lots of bright eyed go-getters. It's the mainstream media outlets that cater to the lowest common denominator with scareball and end-of-days reporting. I get so angry watching CNN or Fox or whatever news channel when they report on the stupidest sh*t (say, missing girl in Atlanta, Georgia) for a solid 20 minutes and then spend 8 seconds on the COUNTRY Georgia that's having a shooting match with Russia.

I don't want to hear them comment on what the President said about Iran. I want them to PRODUCE a story themselves about how stupid this saber rattling is. Get off your ass and investigate instead of hanging on the words of our fearless leader. Especially when they KNOW he's incompetent.

Grrrr...
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Old 10-03-2008, 07:43 PM
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Default Re: Bailout Passes

Quote:
Originally Posted by Oh GAWD the Smell! View Post
The media also tells you how bird flu is going to kill us all when it killed less people than soda machines did in this country last year.
Well see that is a tip off,how many dumb@$$ is there that get so worked up they tip those things over in the 1st place.
My only hope is they died before they spawned.

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Old 10-03-2008, 08:13 PM
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Default Re: Bailout Passes

I am "conflicted" as well, hopefully it was stabilize things and a real solution can occur....but then I remember it is the same government that has been bought and paid for forever and we go through these type of cycles every so often with them getting worse each successive time. So I don't expect anything different to happen, nothing will until the existing parties are ousted from office.

Quote:
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Smell, You are spot on correct!
Journalism is not the most difficult and demanding degree program.
My sister started off as a journalism major at OU in 1994, she changed to education after 1.5 years because she couldn't stand what "journalism" had become which was effectively the "infotainment" industry. This was someone who was 4th in her high school graduating class (out of 400+), an ACT score of 32 and on a Regents scholarship.
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Old 10-03-2008, 09:27 PM
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Default Re: Bailout Passes

Lord knows if it was necessary...Probably wasn't but with my wife and I both in the banking industry I am definitely happy it passed
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Old 10-04-2008, 10:09 AM
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Default Re: Bailout Passes

Quote:
Originally Posted by NativeOkie View Post
Smell, You are spot on correct!
Journalism is not the most difficult and demanding degree program.
I can think of a harder one...
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Old 10-04-2008, 11:42 AM
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Default Re: Bailout Passes

Credit markets to Washington: Bailout isn't enough: Financial News - Yahoo! Finance

Quote:
Some are worried, though, that the plan will not work at all.

"Nobody knows how it's going to succeed," said Howard Simons, strategist with Bianco Research in Chicago. "It seems the American public had better sense than Wall Street and Washington -- the American public said, don't throw good money after bad."


Just as I expected. This bailout was such a sham. Sold to us as a guarantee to stem our economic downturn OR ELSE. Sold to us with fear. Greased up with pork. Kinda ironic as this was the alleged shot in the arm our economy needed. Unfortunately, it's gonna be a vaccination of venom.
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