bailout bill vote

xavier mcdaniel

I'm watching the coverage on C-Span and it looks like it's not going to pass

Democrats 141 for, 94 against
Republicans 66 for, 132 against
Total 207 For, 226 Against


I'm editing the no on the democrats because I didn't see the number clearly.

jimed14

supposedly, they can hold the vote open ... they'd need to switch 10 votes back to Yea ....

one vote has already switched.

it was amazing watching the votes come in and watching the Dow slip to nearly 700 points down ...

dow is currently at 450 down ... but, if they close this vote against the bill ... hold onto your 401ks ...

Brain of J.Lo

Can I just say that I love that the phrase "crap sandwich" has been introduced into the political lexicon?

xavier mcdaniel

final vote was 228-205 against.

jimed14

The bill has failed ... it's done ... dow was at 450 down when the gavel was brought down ...

here ... we .... go ...

SoonForgotten2

What's the deal with this 5 minute vote now?

xavier mcdaniel

I think this is some other things, but as of a minute ago, the dow is down 549 points.

http://www.djindexes.com/mdsidx/index.cfm?event=showAverages

Strangest Tribe

Glad it failed

LikeAnOpeningBandForTheSun

We're all DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMMMMMMMMMMMED!!!!

jimed14

here's a question .. .will it affect the election ...

Obama was for this.

McCain was waffling ... saying he was trying to get House Republican support ... will he come out now and say he was against it ... and try and get support?

teskeinc

the vote is still open, unbelievably people are stupid, joe public didnt understand and screamed no! so reps afraid they will lose their jobs voted no. Thanks Congress , now everyone will lose.

SoonForgotten2

xavier mcdaniel wrote:

I think this is some other things, but as of a minute ago, the dow is down 549 points.

http://www.djindexes.com/mdsidx/index.cfm?event=showAverages

I'm watching a CNN feed and they're mentioning something about suspending the rules and pass... I'm lost.

jimed14

SoonForgotten2 wrote:

I'm watching a CNN feed and they're mentioning something about suspending the rules and pass... I'm lost.

so, there is a clock on the vote ... the clock hit 0:00 but, they left the vote "open" ... obviously trying to get people to switch their votes .. (I guess there wa a medicaid bill that was open for 3 hours before .... )

but, they made the announcement in the house that the voting is over, the gavel came down ... it has failed, and the House is now onto other buisness ... so, it's is DONE. Fail ... no more ... kaput ...

catch22

jimed14 wrote:

The bill has failed ... it's done ... dow was at 450 down when the gavel was brought down ...

here ... we .... go ...

i hope the whole fucking thing collapses. serves these fuckers right for playing a game with imaginary money for the last 80 years.

what i don't get is how people can be "experts" on the economy, go to top business schools, and still have less grasp of reality than a guy like me. they only now figure out that if people default on mortgages they might not get their money back because nobody else wants to buy a shitty house?

fuck these motherfuckers. i hope they all burn in hell.

SoonForgotten2

jimed14 wrote:

so, there is a clock on the vote ... the clock hit 0:00 but, they left the vote "open" ... obviously trying to get people to switch their votes .. (I guess there wa a medicaid bill that was open for 3 hours before .... )

but, they made the announcement in the house that the voting is over, the gavel came down ... it has failed, and the House is now onto other buisness ... so, it's is DONE. Fail ... no more ... kaput ...

Ok, clearly these people on the feed have no idea what they're talking about. They're now backtracking and saying it has failed. That was really odd.

Keiran

jimed14 wrote:

so, there is a clock on the vote ... the clock hit 0:00 but, they left the vote "open" ... obviously trying to get people to switch their votes .. (I guess there wa a medicaid bill that was open for 3 hours before .... )

but, they made the announcement in the house that the voting is over, the gavel came down ... it has failed, and the House is now onto other buisness ... so, it's is DONE. Fail ... no more ... kaput ...

I think they have the option to appeal to the rules committee and reintroduce the bill for another vote. But they may be forced to rework the measure to appeal to more reps. Who knows??? Sometimes I think they make this up as they go along.

blackredyellow

jimed14 wrote:

here's a question .. .will it affect the election ...

Obama was for this.

McCain was waffling ... saying he was trying to get House Republican support ... will he come out now and say he was against it ... and try and get support?

I don't think it will affect much... Both candidates used pretty much the same language riding the fence on it. It's not like either championed it or railed against it.

teskeinc

so they didnt like the results of the vote, so they are going to re vote?

xavier mcdaniel

jimed14 wrote:

here's a question .. .will it affect the election ...

Obama was for this.

McCain was waffling ... saying he was trying to get House Republican support ... will he come out now and say he was against it ... and try and get support?

I haven't been following the specifications of the bill, but was this an ameneded version where the democrats put in provisions that would prompt the Republicans to vote against it?

Or did it contain a lot of the original things put in by President Bush and the republicans just didn't agree with him?

jimed14

Keiran wrote:

I think they have the option to appeal to the rules committee and reintroduce the bill for another vote. But they may be forced to rework the measure to appeal to more reps. Who knows??? Sometimes I think they make this up as they go along.

indeed, they may need to concede more to the house repubs and then reintroduce.

in the mean time ... we'll see if businesses, even small businesses start feeling a huge crunch to get credit, and of so ... will businesses start failing .... or ... is the sky not really falling?

Keiran

jimed14 wrote:

in the mean time ... we'll see if businesses, even small businesses start feeling a huge crunch to get credit, and of so ... will businesses start failing .... or ... is the sky not really falling?

Indeed, that is the $64,000 question or in this case the $700 billion question.

jimed14

xavier mcdaniel wrote:

I haven't been following the specifications of the bill, but was this an ameneded version where the democrats put in provisions that would prompt the Republicans to vote against it?

Or did it contain a lot of the original things put in by President Bush and the republicans just didn't agree with him?

there were a lot of additional provisions put in (the ones Obama and McCain were talking about), but, from what I've heard this "CEOs cannot get golden parachutes" provision was weaker than a house made of balsa wood ... supposedly, it didn't limit their bonuses at all, meaning, it could be circumvented.

Keiran

jimed14 wrote:

there were a lot of additional provisions put in (the ones Obama and McCain were talking about), but, from what I've heard this "CEOs cannot get golden parachutes" provision was weaker than a house made of balsa wood ... supposedly, it didn't limit their bonuses at all, meaning, it could be circumvented.

The "golden parachute" provision was a joke from everything I've read. It's also important to remember that the entire House of Reps is up for re-election in November. This vote will more than likely be the defining moment for most of the members with their constituents.

jimed14

Keiran wrote:

The "golden parachute" provision was a joke from everything I've read. It's also important to remember that the entire House of Reps is up for re-election in November. This vote will more than likely be the defining moment for most of the members with their constituents.

true, there is a HUGE population of americans that don't have 401ks ... don't have money in stocks ... they could not care less if the market goes down ...

I just hope the ability to borrow doesn't become too difficult ... because it's going to hurt a lot of small businesses.

xavier mcdaniel

jimed14 wrote:

there were a lot of additional provisions put in (the ones Obama and McCain were talking about), but, from what I've heard this "CEOs cannot get golden parachutes" provision was weaker than a house made of balsa wood ... supposedly, it didn't limit their bonuses at all, meaning, it could be circumvented.

Well if a provision is weaker and didn't limit their bonuses, then you have to be skeptical of any of these people getting anything done.

anyway here comes the republican response.

digster

Just making sure...the Senate has not even voted for this bill...because Obama and McCain both pledged that they would be back for the vote. So none of them has had to stick their claims to a vote yet?

teskeinc

digster wrote:

Just making sure...the Senate has not even voted for this bill...because Obama and McCain both pledged that they would be back for the vote. So none of them has had to stick their claims to a vote yet?

had to pass the house first.

digster

teskeinc wrote:

had to pass the house first.

Yep. Got it.

You've got to love any press conference like this, Dems or Repubs...

"This is completely bipartisan, we are working in a complete bipartisan matter...except for the part where the failure of everything is entirely Pelosi and the Democrats' fault."

SoonForgotten2

Does anyone know what Pelosi's speech was all about?

g under p

The blame game has already started.

Peace

jimed14

I mean, let's be honest ... Paulsen deserves an ENORMOUS part of the blame if anyone is to blame for this not passing.

You can't walk up to congressional hearings with a 3 page proposal to spend $700B and have a clause in there that state "oh, no questioning me on how I manage this plan either" ....

it was doomed from that moment ... there was no way to tell the public that this was needed and it was actually GOOD for them .. it was the mother of all uphill battles ....

again, I'll be honest ... I'm still not convinced, either way, if this was good or bad.