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Cantor, speaking now, says that Nancy Pelosi's speech prior to the vote was too partisan.* Blunt said they felt rushed because of the Jewish Holidays.
*This is EXTREMELY rich, considering that Mr. Shit Eating Grin basically spent the entire weekend being all "Guysss, I don't know if this is going to happennnn."
Posted by guest, Sep 29, 2008 2:41PM
yea i was going to save our economy but then she said all those *mean* things and I just couldn't...
nice going.
Posted by AJ, Sep 29, 2008 2:42PM
I thought mccain was going to halt his campaign until he fixed this. d-bag
Posted by mj, Sep 29, 2008 2:43PM
shorter version of Eric Cantor: Spkr Pelosi was mean to us so we decided to fuck over the country. That'll show her!
Posted by guest, Sep 29, 2008 2:44PM
wow, these republicans have really gone off the deep end. So glad their reign of terror is coming to a close.
Posted by guest, Sep 29, 2008 2:51PM
Those republicans are listening to the American people, the ones who elect them.
Posted by guest, Sep 29, 2008 2:51PM
I'm not a violent person and I want to shoot Boehner in the face. Oh, it's not our fault we didn't vote for this. They didn't respect us enough. Seriously, what a bunch of pussies.
Posted by guest, Sep 29, 2008 2:51PM
Where's the copy of Pelosi's speech? I see all sorts of old white men waving it around on tv...
Posted by guest, Sep 29, 2008 2:51PM
#5 wins.
This is what happens when we have a financial crisis and the Jews aren't around to fix things. Terrible timing.
Posted by guest, Sep 29, 2008 2:52PM
Those republicans are listening to the American people, the ones who elect them.
Posted by guest, Sep 29, 2008 2:55PM
@18...its not 1987 but its still like being kicked in the testicles with steel toes but 87 and 29 were like being castrated.
Posted by guest, Sep 29, 2008 2:56PM
If you mispronounce Boehner's name it's boner. Funny. Whata boner.
Posted by guest, Sep 29, 2008 2:56PM
17 flaw in your argument is that those people are misinformed and have generally been manipulated.
Posted by guest, Sep 29, 2008 2:56PM
@19-- YOU ARE A FUCKING IDIOT. this isn't just about politics, this affects wall street, you moron. put on cnbc. they had this exact speech.
Posted by guest, Sep 29, 2008 2:59PM
What would it cost to buy every bad mortgage? Let's start an ebay site so they can start selling them and move this stuff along.
Posted by guest, Sep 29, 2008 3:00PM
I do not agree with the bailout entirely but conceptually something needs to be done to improve credit. My understanding is banks are not lending to each other as it is. I would also bet with Paulson anyday (but with some oversight) vs. the average house republican (just based on the horsepower/intellect of either group).
Posted by guest, Sep 29, 2008 3:01PM
@12, @17 -
Isn't the reason that we elect representatives so that they can be abstracted from the mob and do what's best for their constituents and the country even if that isn't always what their constituents directly request?
Posted by guest, Sep 29, 2008 3:02PM
Based on raw intelligence, I'd rather bet with Paulson anyday vs. the average house republican. The average mainstreeter knows a lot less about what is going on than Paulson does. My understanding is banks are basically not lending to each other right now. When that hits the mainstreet constituent who wants a new credit card, refinancing or auto loan - then they will get it. I don't agree entirely with the plan - but something needs to be done to raise sentiment.
Posted by guest, Sep 29, 2008 3:03PM
Paulson is an empty suit. subordinates @ goldman used to crack on his mediocre intellect or so ive heard
Posted by guest, Sep 29, 2008 3:03PM
@27- not bess, me actually, though I'm sure she agrees you're an idiot, as does 21, apparently.
Posted by guest, Sep 29, 2008 3:05PM
Oh, and if any of you were wondering why the House roll call vote page says this is for a bill involving the IRS and firefighters, it's because they didn't update the title of the bill.
"According to the House Majority Leader, H.R.3997 will be used as the vehicle for the Emergency Economic Stabilization Act of 2008."
Posted by guest, Sep 29, 2008 3:06PM
@12 thats funny...I thought we elected people to represent us in the government because your average Joe doesn't really have the capacity/time to get to the bottom of complex issues.
I wont get into the hypocrisy of bringing this up considering the state of lobbying in this country...
Posted by guest, Sep 29, 2008 3:06PM
i really need sources for/transcripts of the comments in the headline to be appropriately pissed at the republicans. plz provide
Posted by guest, Sep 29, 2008 3:09PM
Pelosi couldn't get her people on board, and Bess blames the GOP....41% of the Dems voted against the bill, but why rely on facts when when hyperbole is more satisfying.Snark is where it's at.
Posted by guest, Sep 29, 2008 3:10PM
Interestingly enough the Reps., from both sides of the aisle, that I (reasonably) respect were part of the NOES.
Reading many economists, Roubini et. al maybe the failure of the bill doesnt seem to be the worse scenario. Plus by now I've become suspicious of anything the administration tries to shove down our collective throats as a dire emergency.
btw if anyone wants to see what is going on in the house:
http://www.c-span.org/Watch/C-SPAN_wm.aspx
Happy Hunting,
-C
P.S. Get ready for a [meaningless?] rate/s across the board.
(remember boys and girls keep your eyes on the LIBOR and overnights]
Posted by guest, Sep 29, 2008 3:11PM
We need an emergency intervention by Jimmy Cayne and Chester the Cheetah, STAT.
Posted by guest, Sep 29, 2008 3:11PM
@38-- there is no hyperbole here. do you have cnbc on? they very pointedly blamed pelosi. bess merely reported what they said.
Posted by guest, Sep 29, 2008 3:11PM
This is a victory for capitalism.
Anyone who tells you we are going to see 1930's unemployment is fear mongering. Life will go on, just watch.
Posted by guest, Sep 29, 2008 3:11PM
% of GOPs who were not on board is a lot more than the Dems. The Dems delivered their expected numbers and the GOP did not. They were saying FU Bush so much that they are biting their noses to spite their faces.
Posted by guest, Sep 29, 2008 3:12PM
You guys are such drama pussies.
Get over it. This bill's stupid from the start.
500? Bah humbug.
Posted by guest, Sep 29, 2008 3:12PM
This is a victory for capitalism.
Anyone who tells you we are going to see 1930's unemployment is fear mongering. Life will go on, just watch.
Posted by guest, Sep 29, 2008 3:12PM
The recent absence of MAYO! and ShamWow has convinced me it was Carney all along...
Posted by guest, Sep 29, 2008 3:14PM
38 Your logic is amazing. It was close and the bill got majority support from the D's and nowhere near that from the R's, yet it was Pelosi's fault it didn't pass. You need to learn how to count.
Posted by guest, Sep 29, 2008 3:15PM
http://www.breitbart.tv/html/184803.html has Pelosi's pre-vote speech, which Cantor says cost votes.
Posted by guest, Sep 29, 2008 3:15PM
38 Your logic is amazing. It was close and the bill got majority support from the D's and nowhere near that from the R's, yet it was Pelosi's fault it didn't pass. You need to learn how to count.
Posted by guest, Sep 29, 2008 3:16PM
Why doesn't Hank just ask his friends on holiday for the $.... GS has a trillion in cash
Posted by mj, Sep 29, 2008 3:20PM
@38 I know math is hard but when the Democrats deliver 60% of your caucus and you're only asking the Republicans to deliver 35% of theirs, they are carrying the weight.
Posted by guest, Sep 29, 2008 3:24PM
Brilliant #50, let Wall Street take care of Wall Street cause if they don't, don't you smell so much regulation that Wall Street will never quite be the same?
Posted by guest, Sep 29, 2008 3:25PM
Brilliant #50, let Wall Street take care of Wall Street cause if they don't, don't you smell so much regulation that Wall Street will never quite be the same?
Posted by guest, Sep 29, 2008 3:25PM
44 is -700 humbug?
how about 1000
can we get below 10k for the close?
(maybe if there were shorts)
Posted by guest, Sep 29, 2008 3:27PM
This is the Democrat's bill (at least that's what the media tells me, and if it's on tv or in the news, it's true, right?).
The Dems are the majority party and they can only deliver 59% of their OWN people? Pathetic.
The fact of the matter is that the press and the politicians of both parties have spent most of their time shrieking that this is a bail out of the rich. Who can blame the public if they believe that's all this bail out is?
There is substantial opposition to this bill from Democrat constituencies, and many of their representatives, particularly those up for re-election, are hearing from angry voters.
Ms. Pelosi making a very partisan speech right before the vote, blaming Republicans for everything didn't help matters any. Great leadership, Nancy.
If this bill is THAT important, why do something like this? I'll bet she had no idea of the level of opposition to this in her own party.
And where was Obama on this? Doesn't his support for the bill sway a much bigger portion of his own party? Some community organizer.
Posted by guest, Sep 29, 2008 3:27PM
The job of the speaker is to kick ass and get their party to vote the party line on close votes. They needed 10 more votes to pass the bill. The Dems voted 141-94. Pelosi failed in her job as the speaker and leader of her party to deliver the needed votes. The blame for this lies with the Demos and Pelosi who couldn't get another lousy 10 votes.
Posted by guest, Sep 29, 2008 3:29PM
@55
We got through the freak 1987 crash. It doesn't matter if it close -1000 or -5000.
We'll survive this. And we'll recover faster because the weak and undead will be flushed out of the system very quickly.
I'd rather take the quick pill than the japan pill.
Posted by guest, Sep 29, 2008 3:30PM
Pelosi was talking trash to make a cheap point at a time when everyone was talking about the need for bi-partisanship. It was a stupid and petty reason for Repubs to vote against it but she just got donkey punched. They'll be another vote later this week and if Pelosi manages to control her natural urge to speak like an idiot, it will pass.
Posted by guest, Sep 29, 2008 3:33PM
It's fucking politics, guys. Parties don't matter. The politicians are reliable to political responsiveness aka accountability. Politics 1-0-fucking-1. You guys act as if Pelosi could have done anything to get the pigs on board.
I'm surprised that people have that much confidence in the Hill.
Posted by guest, Sep 29, 2008 3:36PM
Pelosi: "crisis snuck up on little cat feet". Gayest comment ever made on the floor of Congress.
Posted by guest, Sep 29, 2008 3:42PM
@57 Are you missing something? This was an Administration bill(Republician) put forth by the Sec of Treasury(Paulson) and backed by the President (Republican). The democrats modified it, but the Republicans went against their own president and defeated it. Amazing
Posted by guest, Sep 29, 2008 3:44PM
btw:
Bain Capital Partners and Hellman & Friedman, bought NB and some other assets off of LEH.
Capitulation and consolidation.
-C
Posted by diablo, Sep 29, 2008 3:48PM
@60
But it's really the Republicans that acted like crybabies when they heard about her speech rallying her own troops. You don't rally Republicans the same as the Democrats.
So Boehner and company didn't do their job. McCain should bitch slap him for not delivering.
And the Republicans should take Frank's offer. He said he will sweet talk those 12 Republicans who are so sensitive that put their own pride before country. He's going to stroke them the right way so they will switch their vote, because apparently that's all they need.
Take Barney's offer, but keep your pants on sissies.
And when all else fails, blame the jews.
Posted by guest, Sep 29, 2008 3:50PM
This is a bailout of wealthy Wall Street bankers by the taxpayer. No one has any sympathy for them.
Posted by guest, Sep 29, 2008 3:52PM
This is a bailout of wealthy Wall Street bankers by the taxpayer - nothing more. That's how it's being portrayed by the media. No wonder most voters are very much against it.
Posted by guest, Sep 29, 2008 4:03PM
@68 - they're both being babies and both sides are failing to show leadership. We'll see some more games and this will get done.
Posted by guest, Sep 29, 2008 4:05PM
"Christ is coming and is he ever pissed!"
I didn't even know he was breathing hard....
Posted by diablo, Sep 29, 2008 4:16PM
@72
Congresscrittes have been getting real angry constituents telling them to vote this thing down. Most of them are up for reelection. I do find it interesting that the Democrats got more than 50% to agree. This is a hard sell and you can't just push something like this.
But what do I know? Well, at least I predicted this. See comment #10 in this thread:
http://dealbreaker.com/2008/09/non-breaking-forward-looking-s.php
Posted by guest, Sep 29, 2008 4:17PM
@59. the difference between now and 87 is that the 87 was a market crash caused by stock market related trading and it didn't spill into the economy, so once the crash happened we moved on. Now, however, we have an economic issue that is not visible to the average person, except when it manifests itself in the stock market index. Unfortunately, when banks stop lending and companies don't pay their debts, everyone's cash is at risk. If more money market funds start breaking the buck, the run that occured on Putnam's $12.6b money market fund two weeks ago(that they had to shut down) will be nothing compared to what will ultimately happen. And you won't be able to get your cash. This is NOTHING like 87. Look up 1907 instead.
Posted by guest, Sep 29, 2008 4:21PM
@75
Too much fear-mongering. Won't happen.
The market didn't react too badly today. I bet even after the new bill is shot down, we won't even reach 8000.
You got brainwashed by Bushism. Credit will resume once the weak are flushed out.
Posted by guest, Sep 29, 2008 4:28PM
Um 74, all of the people in the House are up for re-election. It happens every two years.
Posted by Novice, Sep 29, 2008 4:30PM
@75. Interesting reference. Glad that taking American Economic History served me well(that makes twice, ever). So if we're making comparisons, what just happened is that John Pierpont M's spiritual successors were halted by the Congress. Shit.
Posted by guest, Sep 29, 2008 4:33PM
78 True there. Reality though is that only some of those seats are at risk. So the other poster was a little right.
Posted by guest, Sep 29, 2008 4:38PM
This bailout has been portrayed as a fat cat bailout of people like most of the posters on this board -- the ones who make fun the the lack of understanding that most of "Main Street" has of this situation.
What they understand based on what the media tell them is that "smart people" like many of you folks screwed everything up and now you want them to bail you out. Too bad for you, that bailout is likely not going to happen soon.
Posted by diablo, Sep 29, 2008 4:46PM
@78
YOU disappoint me. There are quite a few who are retiring, therefore they are not for reelection. And quite a few have very poorly financed opponents so they don't care about their constituents. But there is a significant number that do have to respond to angry voters. Again, this bill was not an easy sell especially in an election year.
Posted by guest, Sep 29, 2008 4:49PM
81 Where do I start.. Lets put aside the fat cat thought first: The people here are hardly fat cats. Just entry and mid level people working in finance and generally working hard too. Well educated and smart and making the kind of salaries well educated people make. But also living in places with a very high cost of living. No fat cats. Just people that are part of a knowledge based economy.
More importantly though, "we" are not going to be bailed out. Whatever personal benefit any of us derives will be no different than the benefits you will see: namely the fruits of a better economy, which should result from the unseizing of credit markets. These would include everything that happens when America prospers: job security and stability, neighborhoods not blighted by foreclosures, an absence of crushing defecits, sufficient revenues for governement to deliver good basic services.
As far as the cost: the funds are an investment. Handled properly the assets acquired under the proposal will generate income over their life and at maturity provide proceeds sufficient to retire the program.
Its complicated. Fox News is easy, but dont be a sucker.
Posted by guest, Sep 29, 2008 4:56PM
@77 but once the "weak are flushed out" you had better hope that your bank (that takes you money and loans it out) isn't one of the "Weak" ones and you had better hope that none of your safe cash is in a money market account that invested in any of these "weak" companies. Because if you think you are going to get that $1.00 value per unit, you had better read what happens when a money market fund breaks the buck. Tell me if a year ago you thought AIG was a "weak" company.
Posted by guest, Sep 29, 2008 4:59PM
The only institution sound enough to swallow Goldman may be HSBC.
Posted by guest, Sep 29, 2008 5:29PM
The bill originated with Paulson/Bush and amendments were made to it by the Dems. The house republicans are trying to prove they are all about free markets right now and aren't supporting for idealogical reasons. Unfortunately both Marx and Adam Smith don't work so well in the real world.
Posted by guest, Sep 29, 2008 6:40PM
correct me if im wrong, but cantor voted FOR the bailout
also, he is jewish....the plot thickens
Posted by guest, Sep 29, 2008 7:32PM
The entire Pelosi speech.
http://www.time-blog.com/swampland/2008/09/house_leaders_blame_pelosis_st.html
Posted by guest, Sep 29, 2008 9:14PM
You know, some of you are really idiots. The 1987 stock market dive did spill over into the real economy. It did take awhile. In September of 1989, the NYC economy went into "free fall" from the after effects of the crash, and the shortage of funding lasted for five years. Everyone thinks Giuliani cleaned up New York, but what happened was that when he was elected there was finally enough money to do what needed to be done.
The market fell over 700 points today. How much has it fallen since this time last year? 3,000 points? Just a trillion of value lost today -- more than the $700 billion in the bail-out plan. Anybody have any money in a 401(k) plan and looked at their results lately? Get in touch with reality. Main Street is being affected, has been affected, and will be affected.
Cantor is a whining hypocrite. Boerner is a dangerous reactionary. Pelosi went more than the extra mile to get this thing passed, and it was a proposal that originated with the opposing party.
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Posted by guest, Sep 29, 2008 2:39PM
pathetic.