That's it! They've got 15 minutes...get YOUR say in before then.
1:35: 122 v 111, for v against
1:37: 137 v 139, for v against
1:39: 145 v 142, for v against
1:41: 168 v 172, for v against
Barnett "Barney" Frank!
1:44: 189 v 208, for v against
1:47: 203 v 227, for v against
Dow Down 500 Points
1:49: 205v 228, for v against
You can change your vote; ONE person has
1:53: 207 v 226, for v against
2:02: The 207 number is holding, because politicians are pussies and no one wants this pinned on them in case it backfires. I still have the C-span audio on and it just sounds like people milling around chit-chatting. Shouldn't now be the time for yelling? Or for Barney Frank to get into that fistfight?
Asking: "Does anyone wish to change their vote?" Some asshole does:
2:07: 205 v 228
Posted by guest , Sep 29, 2008 1:30PM
did they just try to pass it with a vocal yea/nay in 5 seconds??
Posted by mj , Sep 29, 2008 1:33PM
@1 yes they did. Tried to avoid having votes on record
Posted by guest , Sep 29, 2008 1:33PM
some third world Rep is about to win the lottery.
Posted by guest , Sep 29, 2008 1:33PM
Bottom line: This bill is the same as the initial Paulson plan..they threw in all the other "principles": oversight, exec compensation, taxpayer participation in the upside; in such a manner that they are worth ZERO. The Treasury Sec has FULL DISCRETION TO DO WHAT HE WANTS WHEN HE WANTS HOW HE WNATS WITH NO FORM OF JUDICIAL OR CONGRESSIONAL OVERSIGHT/OVERRULE!
Note that the guys from the Treasury Dept are so excited that they got all they want. The Treasury Dept just played the buffoons in Congress for what they are - buffoons. Checkmate!
I am from a Third World country and I never believed the day would come when I would be disugusted with the US govt as much as I am with my home govt.
The Empire has fallen!
Posted by guest , Sep 29, 2008 1:35PM
is @4 ALL CAPS from Wharton?
Posted by guest , Sep 29, 2008 1:36PM
Too long, didn't read.
Posted by RamblinWreck , Sep 29, 2008 1:39PM
The 'Nays' are catching up...129-123
Posted by guest , Sep 29, 2008 1:40PM
157 v. 155 - 122NV
Posted by guest , Sep 29, 2008 1:43PM
can I get a list of everyone who voted against this thing so I can form a PAC & get them removed from office?
Posted by guest , Sep 29, 2008 1:43PM
185 v 194
Posted by RAW DOG , Sep 29, 2008 1:43PM
Cannot believe this is even that close. What fool would vote NAY?
Posted by guest , Sep 29, 2008 1:44PM
218 to win if ALL Reps are in session. Any idea how many gutless wonders skipped the vote?
Posted by StupidEquityGuy , Sep 29, 2008 1:44PM
wheeeee
Posted by guest , Sep 29, 2008 1:44PM
@11 - A fool from Cornfield County who wants to be re-elected.
Posted by guest , Sep 29, 2008 1:45PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:45PM
And it's voted down....
Posted by guest , Sep 29, 2008 1:46PM
17 No Votes, thats disgusting
Posted by guest , Sep 29, 2008 1:46PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:46PM
AWESOME!
We are so fucked!
Posted by mj , Sep 29, 2008 1:46PM
fails to pass. dow down 600. well done
Posted by guest , Sep 29, 2008 1:46PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:47PM
@15 - Right. Washington fattcats are much funnier.
Posted by guest , Sep 29, 2008 1:47PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:47PM
can I get a list of everyone who voted FOR this thing so I can form a PAC & get them removed from office?
Posted by guest , Sep 29, 2008 1:48PM
Rejected!
Welcome to your new third world country.
SPODE
Posted by guest , Sep 29, 2008 1:48PM
TOLD YA SO TOLD YA SO
FEEL THE PAIN MAIN STREET YOU ARE SO STUPID
Posted by guest , Sep 29, 2008 1:48PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:48PM
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Posted by guest , Sep 29, 2008 1:48PM
Hope the poors get all the hoped for.
Posted by guest , Sep 29, 2008 1:49PM
silly sausages
Posted by guest , Sep 29, 2008 1:50PM
YES! NO NO NO!
SAY NO TO BAILOUT!
Posted by guest , Sep 29, 2008 1:50PM
Ouch. Decisively defeated, or at least what passes for decisive nowadays. No chance for Paulson to dig up pictures of THAT many Reps with dead hookers fast enough to make a difference.
Posted by guest , Sep 29, 2008 1:50PM
Wow I cannot believe this didn't pass.
Main Street is in for a world of hurt, and they can only blame themselves.
Posted by guest , Sep 29, 2008 1:50PM
I love how in the background, someone keeps shouting "MADAME SPEAKER!!11!"
Posted by diablo , Sep 29, 2008 1:51PM
It's over really.
GOP NAY 133, YEA 65
Not enough to pass this sucker.
As Cramer doesn't say: Sell, sell, sell!
Posted by guest , Sep 29, 2008 1:51PM
Democracy sucks.
Main Street just screwed itself.
Posted by guest , Sep 29, 2008 1:51PM
HOLY FUCK! Are you fucking kidding me?? I fucking hate politicians. Fucking retards. We are all fucked.
Posted by AJ , Sep 29, 2008 1:52PM
holy fuck
Posted by guest , Sep 29, 2008 1:52PM
@ RAWDOG are you sitll looking for a taxi fleet?
Posted by guest , Sep 29, 2008 1:52PM
http://news.yahoo.com/s/nm/20080929/pl_nm/us_financial_bailout_whitehouse;_ylt=AmdbyluHccx3JUibWomDbt1Z.3QA
Once again, BushCo proves that hiring Sylvia Browne might actually UP their prediction average. Gosh, maybe it won't stay contained to the sub-prime market after all?
Posted by guest , Sep 29, 2008 1:53PM
you chicken littles are a bunch of assnozzles
the sun WILL come up tomorrow
Posted by guest , Sep 29, 2008 1:53PM
This just gets better and better (grabs popcorn...checks nuts)
Posted by guest , Sep 29, 2008 1:54PM
any chance of a recovery just got pushed out 18 months.
to anyone who was against this thing passing, we will ALL be on the hook when our tax revenue drops, & tax increases start to come in as our economy weakens. pay me now or pay me later.
we're all f'ed, Main Street to Wall Street.
Posted by guest , Sep 29, 2008 1:55PM
Is it over yet? Has the bill been voted against? Shamwow!
Posted by guest , Sep 29, 2008 1:55PM
Main street is going to feel the hurt either way. It's nice that you assholes are so fucking stupid you can't even realize when you're only trying to save yourself and that even then it will only be a short reprieve from the inevitable. Math is still math and you can't artificially support asset prices even though you fucking bankers choose to forget the obvious when you're making yourselves rich at the expense of main street.
Oh, did I mention fuck you?
Posted by guest , Sep 29, 2008 1:56PM
@41 Are you so sure about that?
Posted by guest , Sep 29, 2008 1:56PM
I can't believe this thing went down. There's got to be some serious arm-twisting going on this afternoon.
Posted by guest , Sep 29, 2008 1:56PM
remember this next time yr ready to kiss McCain's ass and suck Palin's nips. Repub's are scum.
Posted by guest , Sep 29, 2008 1:56PM
i would check nuts first and then grab popcorn.
Posted by saksoz , Sep 29, 2008 1:56PM
Anyone got a link to the roll call? Is it just me or is thomas throwing 403's all over the place?
Posted by guest , Sep 29, 2008 1:57PM
The equity market is the retarded kid right now. It should be down 20%... and not just because of failed bailout. Give it time... the equity market will catch up with credit market.
Posted by guest , Sep 29, 2008 1:57PM
why is the dow rebounding so sharply?
Posted by guest , Sep 29, 2008 1:58PM
I am now a converted democrat.
Posted by guest , Sep 29, 2008 1:58PM
All these politicians are concerned with is saving their elected seats. The populace is not sophisicated enough to understand this is not a Wall Street vs. Main Street issue... but that the economy is at stake. Wall Street *is* Main Street, and just wait until Main Street opens their 401 K statement or their pension plan goes belly up.
Idiots, all of them.
Posted by guest , Sep 29, 2008 1:58PM
All these politicians are concerned with is saving their elected seats. The populace is not sophisicated enough to understand this is not a Wall Street vs. Main Street issue... but that the economy is at stake. Wall Street *is* Main Street, and just wait until Main Street opens their 401 K statement or their pension plan goes belly up.
Idiots, all of them.
Posted by guest , Sep 29, 2008 1:58PM
COME ON!!! KEEP IT AT NO!
WE NEED NO BAILOUT!
Posted by guest , Sep 29, 2008 1:59PM
@48, would def still suck palins nips
Posted by guest , Sep 29, 2008 1:59PM
All these politicians are concerned with is saving their elected seats. The populace is not sophisicated enough to understand this is not a Wall Street vs. Main Street issue... but that the economy is at stake. Wall Street *is* Main Street, and just wait until Main Street opens their 401 K statement or their pension plan goes belly up.
Idiots, all of them.
Posted by guest , Sep 29, 2008 1:59PM
@9 when the vote is finalized the house.gov website will have a list of the yeas and the nays, and wtf the 1 nv is.
Posted by guest , Sep 29, 2008 2:00PM
57 why dont you suck my cock
Posted by guest , Sep 29, 2008 2:00PM
dow isnt the best indicator of US pain as many/most are multi-nats
Posted by guest , Sep 29, 2008 2:00PM
@52 - PPT spinning a mighty, mighty dub. Bernanke's fleet of helicopters on pad warming up engines.
Posted by guest , Sep 29, 2008 2:02PM
Repubs? Check out how many Dems voted no before you pass judgement.
Posted by diablo , Sep 29, 2008 2:03PM
Someone is screaming Point of Order, they want to finish the vote, which is already taking twice the time allotted. Arm twisting is not working. This sucker is dead.
GOP NAY 132 YEA 66 1 NV
DEM NAY 94 YEA 141 0 NV
Posted by guest , Sep 29, 2008 2:03PM
Bess, it's between you and Carney now. Don't disappoint me. I'm gunning for you for the most up-to-date voting results
Posted by guest , Sep 29, 2008 2:03PM
I would grab nuts and then check popcorn...
Posted by guest , Sep 29, 2008 2:03PM
Rupubs are scum. Hannity was badmouthing this thing all week. And his stupid listeners were eating it up.
Posted by guest , Sep 29, 2008 2:04PM
@49
I would grab nuts and forget the damn popcorn
Posted by guest , Sep 29, 2008 2:06PM
@63 61 % of Dems have voted for the Bailout, 66% of Reps have voted against.
Posted by guest , Sep 29, 2008 2:07PM
I blame them "Cash Flow Generator" midgets that got us into this mess.
Posted by Investorcluzo , Sep 29, 2008 2:08PM
the unwashed masses don't realize this is to save them more than it is to save "wall st". what a joke. do they really think that pension is safe? if it had 60% of the funds in equity, it's probably down a good 25%+, the 40% in fixed income is only yielding 3-4%. how many companies are going to report underfunded pension liabilities in the 3rd quarter? next thing you know, the damn mattress that you've been keeping your cash under will catch fire.
market is down over 5%, would someone please run the numbers and tell me how much was just flushed down the drain in terms of market cap? wtf. this isn't good for anyone.
Posted by guest , Sep 29, 2008 2:08PM
40% of Dems voted no. 40. Yeah, it's all the Repubs. What a fucking retard you are.
Posted by AJ , Sep 29, 2008 2:08PM
what is going on? i'm lost, they're going for another vote?
Posted by guest , Sep 29, 2008 2:09PM
Main Street equates this bill as a bailout for fat cats on Wall Street. That is stuck in their minds now.
Posted by guest , Sep 29, 2008 2:09PM
Looks like 54 isn't smart enough to understand moral hazard. Folks, this is the financial sector, not the whole world. High priced insurance fine - not buying out all the crap debt.
Where is J. Pierpont Morgan when you need him?
Posted by guest , Sep 29, 2008 2:10PM
Fk the dow. Smart Money was out. Let the pigs die.
Ohhh how delicious..your tears of desperate agony sustain me.
We can get out of this mess with out further fuking it up wiht more government handouts right before we elect the 1st socialist prez.
Posted by guest , Sep 29, 2008 2:10PM
wow
http://www.youtube.com/watch?v=H5tZc8oH--o
Posted by guest , Sep 29, 2008 2:10PM
72 You need to improve your math skills
Posted by guest , Sep 29, 2008 2:10PM
@45 You are completely correct.
Posted by guest , Sep 29, 2008 2:11PM
Anyone know how Dickhead and Cocksucker voted (i.e. McCain and Obama)?
Posted by guest , Sep 29, 2008 2:11PM
@ 74
no, Main St recognizes that this is just pissing good money after bad. Not worth shitcanning the dollar just to prop up the market a little bit longer.
Posted by guest , Sep 29, 2008 2:11PM
Thank goodness for the "no short" list. Its really helped the market from being in the red today.
Posted by guest , Sep 29, 2008 2:11PM
Happy Rosh Hashanah ! Oy
Posted by guest , Sep 29, 2008 2:12PM
235 Dem votes. 94 nay. 94/235= what Archimedes?
Posted by guest , Sep 29, 2008 2:13PM
Fuck Morgan. We need Mayer Rothschild to get in there with his street sweeper. It's not running in the streets yet, but people are looking around for sharp objects.
Posted by guest , Sep 29, 2008 2:13PM
@80-- this was a house vote. they are senator
Posted by guest , Sep 29, 2008 2:13PM
@80 This was a House vote. Senate is scheduled to vote on Wednesday.
Posted by guest , Sep 29, 2008 2:13PM
@75, Unfortunately the financial sector IS the whole world. The world is run on credit. When you can't borrow...you can't run a business day to day. If banks aren't lending....no one gets a loan and economies crumble. So get back out onto LEX and sell as many hot dogs as you can before this whole thing shuts down you f*cking MORON!
Posted by guest , Sep 29, 2008 2:13PM
80: Senators usually don't vote in the House. Usually.
Posted by miami , Sep 29, 2008 2:14PM
82 wins the thread.
Posted by guest , Sep 29, 2008 2:14PM
75 Learn the details before you judge. Good summary in fact in this weekend's Barrons. Gov would have bought securities yielding around 10%. Even factoring in very conservative recovery rates, this would have been a financial positive for the taxpayers. Politics though made it seem like stealing from the poor to save the rich. Shame on you Repub scum.
Posted by Phobos , Sep 29, 2008 2:14PM
the run to the bell is going to be fun.
Posted by guest , Sep 29, 2008 2:14PM
@80: If they voted it would be pretty fucking impressive, what with them being Senators and all.
Posted by guest , Sep 29, 2008 2:15PM
Thanks everyone
-@80 (mildly retarded today)
Posted by merkin capital partners , Sep 29, 2008 2:16PM
-600's nothing...oct 87 equivalent would be ~-2200
Posted by guest , Sep 29, 2008 2:17PM
This is the end of the US.
How the fuck are there so many r-tards on this blog who do not understand that this has to pass?
Liquidity: ba-bye
Bank lending: ba-bye
Main Street: ba-bye
Posted by guest , Sep 29, 2008 2:18PM
#88, speak for yourself. All those companies that pay this week's expenses with next week's income at some point decided to skip a week and keep the money, and never put it back. Lots of companies can keep the lights on for a month without having to put the electric bill on MasterCard.
Unfortunately, most of the big ones fell for this commercial paper scam a long long time ago and whatever you think about it, they're all fucked, and so the rest of us are probably going to get some sloppy seconds. But it's not ordained by God that you have to borrow money to open the door in the morning.
Posted by guest , Sep 29, 2008 2:19PM
You guys are overreacting. I bet 2 weeks from now, you'll see the carcasses of a few banks and 2 months later, everything will revert back to the mean.
Market will be back to equilibrium. It always does.
So yay to no vote!
Posted by Investorcluzo , Sep 29, 2008 2:19PM
can I get an over/under on when we can start drinking because the circuit breakers are going to put an end to this madness by causing the market to close?
Posted by guest , Sep 29, 2008 2:20PM
yeah sell equities buy tbills
black monday 2008
Posted by guest , Sep 29, 2008 2:20PM
John Galt is in Colorado smiling!
Posted by guest , Sep 29, 2008 2:20PM
The House is filled with Senates retarded cousins
Posted by guest , Sep 29, 2008 2:21PM
This is the end of the US.
How the fuck are there so many r-tards on this blog who do not understand that this has to pass?
Liquidity: ba-bye
Bank lending: ba-bye
Main Street: ba-bye
Posted by guest , Sep 29, 2008 2:21PM
@ 81 i would be willing to bet that main street has no fucking idea how this will impact the US Dollar. The only thing they give a shit about is stuffing their cake hole with as much crap as they can for the cheapest price. Oh yeah and they care about britney, angelina ect..
Posted by guest , Sep 29, 2008 2:21PM
I'm going to have to get a finance job in Dubai. Fuck.
Posted by guest , Sep 29, 2008 2:22PM
I'm going to have to get a finance job in Dubai. Fuck.
Posted by guest , Sep 29, 2008 2:22PM
@97 20 years ago, I would agree with you. But it will become increasingly clear to you over the next few weeks. You cannot kill the financials (or let them commit suicide) and end up with "sloppy seconds". Unless you are already independently wealthy...you are pretty much f*cked for the next few years, if not longer.
Posted by guest , Sep 29, 2008 2:23PM
repigs are morons!
Posted by guest , Sep 29, 2008 2:23PM
@105 lol
i hear there are some hot bitches there though...
Posted by guest , Sep 29, 2008 2:24PM
I can't believe this thing even went to a vote. Imagine Hank "we got you into this we'll get you out of it" Paulson as our new beneficent Financial Overlord...
Posted by guest , Sep 29, 2008 2:24PM
Heh, Wachovia will be unhalted in 5 minutes.
http://www.nyse.com/equities/nyseequities/Todays_Alerts.shtml
Posted by guest , Sep 29, 2008 2:27PM
Am I the only one who's happy that this bailout is not passed?
Am I the only one who is confident the credit market will get through this?
Sure, a few banks will fail but it's be over pretty quick. That beats having to pay billions to slow down the process.
Posted by guest , Sep 29, 2008 2:28PM
is paulson in his office shaving his head with a knife in the dark?
Posted by guest , Sep 29, 2008 2:28PM
roll call has been posted:
http://clerk.house.gov/evs/2008/roll674.xml
Posted by guest , Sep 29, 2008 2:30PM
I wouldn't mind Dubai form 10mos out of the year, tax free, etc...but I get irritable after 130 degrees
Posted by guest , Sep 29, 2008 2:32PM
112 Pay billions? That's debatable; could in fact be profitable to the Treasury. Plus the lost tax revenue while we're all standing around waiting for things to be ok will be substantial. The bill is a net net benefit. It was simply portrayed incorrectly as a blow to populism. Like Bryant's cross of gold.
Posted by guest , Sep 29, 2008 2:32PM
Some very notable House Democrats appeared to vote no.
Pelosi and Reid are going to get the list and there will be hell to pay. I don't think this is going to be the last vote taken.
Posted by Investorcluzo , Sep 29, 2008 2:32PM
new shirt idea:
the bailout bill failed and all I got to show for it was this "don't short me bro!" shirt...
Posted by guest , Sep 29, 2008 2:34PM
112 is a moron.
Our friend TED didn't like this too much, putting it mildly. Going back towards 350 *with* the central bank infusions.
Posted by guest , Sep 29, 2008 2:40PM
Can a Christian in Dubai still have 5 wives?
Posted by Investorcluzo , Sep 29, 2008 2:41PM
@105/106/115 - problem with dubai (I think they offered us all the same job) is that a) it's far, far away; b) it's like vegas (which is good) but you have to work - do you know anyone who works in vegas (and likes it)?; c) they were only offering 1 paid trip back to the u.s. each year; and d) what are you going to do after the 3 yr guarantee is up?
Posted by guest , Sep 29, 2008 2:48PM
112 is right. We'll get through this. Free market always win. It'll be an ugly scene but the recovery will be a lot faster.
Posted by guest , Sep 29, 2008 2:50PM
@ 120 - Yes, but only if you grow a beard and stop bathing.
Posted by guest , Sep 29, 2008 2:53PM
Why will recovery be a lot faster? Facts and logic dictate otherwise - which is basically what Paulson et al have been saying for weeks. Unfortunately, their logic is much stronger than your simple blind faith in free markets.
Posted by miami , Sep 29, 2008 2:55PM
82 wins the thread.
Posted by guest , Sep 29, 2008 3:05PM
mmmmmm, assets at firesale values, and billions of capital ready to invest.
This is going to be fun
Posted by guest , Sep 29, 2008 3:10PM
The roll call vote link provided by 114 had the wrong title of the bill. Is this the right roll call?
Posted by guest , Sep 29, 2008 3:27PM
127 that is the correct roll call
Posted by guest , Sep 29, 2008 3:48PM
@127, yes it's the correct bill. HR3997 is what you're looking for.
"According to the House Majority Leader, H.R.3997 will be used as the vehicle for the Emergency Economic Stabilization Act of 2008."
http://thomas.loc.gov/cgi-bin/bdquery/z?d110:HR3997:/
Posted by guest , Sep 29, 2008 4:03PM
107 - I wasn't clear (this is 97.) They're fucked. We're fucked. I know it. But we're not fucked because ONLY a system where even billion-dollar companies have to get this week's payroll from loan sharks can work, we're fucked because a system where billion-dollar companies have to get next week's payroll from loan sharks every single week CAN'T work, at least not forever.
Mathematically speaking, a system where people can lend what they don't have will inevitably experience a cascading failure. The only question is how long it will take. If they didn't teach some of you that at HBS, ask for your tuition money back. I was kinda hopin' it would last out my lifetime, but eventually it had to fail.
Posted by guest , Sep 29, 2008 8:47PM
I believe an economist familiar with the 10 year old economic problems in Japan said that one of their problems was that Japan's national legislature failed to act when the crisis first became apparent.
Posted by guest , Sep 29, 2008 10:01PM
I believe a Treasury Secretary and a Federal Reserve Chair who were both presumably familiar with the American economy and its history were telling us until last week that we had nothing to worry about.
I further believe that alleged quotes from mystery economists which fly in the face of the observable facts about the Japanese malaise are worth less than the lint in Bernanke's beard cup.