“The Dow Jones Industrial Average slid 778 points for its biggest point drop ever as $1.2 trillion in market value was erased from American equities.” The dabblers & day-traders have fled. And good riddance to them. They always fuck up……

It’s been noted that many of those who voted ‘no’ to the House bailout plan were those in a vulnerable district. Consider a few things about this vote: Nancy Pelosi’s speech prior to the vote suggests Republicans are out to…

FYI, Digshot agrees with Rev Wright that AID’s was invented by whites to kill blacks.

Something to keep in mind if you attempt to have a discussion with him.

And flenser just plain makes stuff up.

Just something else to ‘keep in mind,’ around here.

Meanwhile, your “leader”, as usual, is voting “absent”. Some leadership skills. Everything is above his pay grade, except community rabble rousing.

He said he was going to vote for it.

You know he’s in the Senate, and not the House, don’t you?

On September 30th, 2008 at 12:49 am, California Red said:

228 Republicans and Democrats took a stand today. Unfortunatley, the media narrative is that the Republicans torpedoed the bill.

The more I look at this, the surer I am that this is a deliberate strategy of the Democrat leadership aimed at winning the Presidency and more seats in Congress. First Obama blows up the Bush’s “bipartisan” meeting, then Pelosi deliberately blows up the vote and the media rushes in to blame Republicans. Then the market tanks in the last minute of the day, so everybody can scream “crisis” again. Too many coincidences.

90+ dems voted “nay” …. McCain went bipartisan and called in many more than the original 4 who supported the bill ….

I’m thinking that dems have set us up for their pre-announced “October Surprise” — in which Obama will now rush onto the scene and in a flurry of self-elevating verbosity — single-handedly and miraculously save the federal government, Wall Street, main street America, the Global Economy and planet earth from collapse!!!!!

wow.

from what i can tell, there is about $1 trillion in subprime mortgages (not good) and about $62 trillion in credit-default swap derivatives (much, much worse). basically, bets on these mortgages and other loans.

these are traded on an unregulated market i believe the subprime mortgage problem is being multiplied greatly by these unregulated “bets.” just look at how much money is in that market: $62 trillion. amazing!

this is the market that needs fixing first. i don’t want homeowners to get something for nothing, but these leveraged bets absolutely must stop immediately.

the fat cats are directing our focus from the real (and complex) issue so we squabble among ourselves about bad decisions by homeowners, minorities, etc.

Wall street’s failures FAR outstrip the poor decisions made by borrowers. it’s not even close!

why not just cancel these derivative contracts and see what happens before we throw tons of cash at the problem and continue to blame our neighbors for causing this mess?

On September 29th, 2008 at 10:08 pm, Digshot said:

Unfortunately for them, McCain is out there saying they only voted it down because of Nancy Pelosi. He’s out there frantically blaming whoever he can because he’d basically guaranteed the bill’s passage and staked his ‘leadership and experience’ credentials on it.

Meanwhile, your “leader”, as usual, is voting “absent”. Some leadership skills. Everything is above his pay grade, except community rabble rousing.

1) He said he supports the bill.
2) Republicans will take the heat for a downturn in the stock market.
3) Republicans will take the heat if the economy goes into recession.
4) McCain has been shown to be ineffective in leading his party to a consensus.

I get so frustrated sometimes that media gets away with thier spin. They want to blame the Bush adminstration’s lack of regulation for the crisis when the truth is that McCain pushed for Freddy and Fannie regulation several years ago. Why didn’t he say that at the debate? WHy didn’t he put this right in Frank and Dodd’s lap.

This candidate needs to get agressive because he is fighting his opponent and the media.

I just don’t see it.

They are not going to bring the market prices below the fair market value.
If the program trading does create the value, someone will step in and snap that security.

If the housing runup in the last decade had more than doubled, then by the same yardstick, the stock prices need to go down to reflect the true value of the housing. That means market may go a lot further down.

Well, let’s put it this way: Your freedom isn’t worth a whole lot when the companies that employ you are going out of business.

People have to face facts. If you want to earn money, you give up a certain amount of your freedom.

The economy in a melt down is not conducive to freedom.

You ass, your freedom is worth more than all the money in the world. Maybe you’re willing to sell off yours, but I’m not willing to do the same with mine, my family’s and that of my unborn children. You have a lot to think about.