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
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
did they just try to pass it with a vocal yea/nay in 5 seconds??
@1 yes they did. Tried to avoid having votes on record
some third world Rep is about to win the lottery.
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!
is @4 ALL CAPS from Wharton?
Too long, didn’t read.
The ‘Nays’ are catching up…129-123
157 v. 155 – 122NV
can I get a list of everyone who voted against this thing so I can form a PAC & get them removed from office?
185 v 194
Cannot believe this is even that close. What fool would vote NAY?
218 to win if ALL Reps are in session. Any idea how many gutless wonders skipped the vote?
wheeeee
@11 – A fool from Cornfield County who wants to be re-elected.
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
And it’s voted down….
17 No Votes, thats disgusting
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
AWESOME!
We are so fucked!
fails to pass. dow down 600. well done
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
@15 – Right. Washington fattcats are much funnier.
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
can I get a list of everyone who voted FOR this thing so I can form a PAC & get them removed from office?
Rejected!
Welcome to your new third world country.
SPODE
TOLD YA SO TOLD YA SO
FEEL THE PAIN MAIN STREET YOU ARE SO STUPID
i hope they dont pass it. i voted for ron paul because i dont want my taxdollers going to fattcat wall streeters
Hope the poors get all the hoped for.
silly sausages
YES! NO NO NO!
SAY NO TO BAILOUT!
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.
Wow I cannot believe this didn’t pass.
Main Street is in for a world of hurt, and they can only blame themselves.
I love how in the background, someone keeps shouting “MADAME SPEAKER!!11!”
It’s over really.
GOP NAY 133, YEA 65
Not enough to pass this sucker.
As Cramer doesn’t say: Sell, sell, sell!
Democracy sucks.
Main Street just screwed itself.
HOLY FUCK! Are you fucking kidding me?? I fucking hate politicians. Fucking retards. We are all fucked.
holy fuck
@ RAWDOG are you sitll looking for a taxi fleet?
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?
you chicken littles are a bunch of assnozzles
the sun WILL come up tomorrow
This just gets better and better (grabs popcorn…checks nuts)
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.
Is it over yet? Has the bill been voted against? Shamwow!
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?
@41 Are you so sure about that?
I can’t believe this thing went down. There’s got to be some serious arm-twisting going on this afternoon.
remember this next time yr ready to kiss McCain’s ass and suck Palin’s nips. Repub’s are scum.
i would check nuts first and then grab popcorn.
Anyone got a link to the roll call? Is it just me or is thomas throwing 403′s all over the place?
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.
why is the dow rebounding so sharply?
I am now a converted democrat.
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.
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.
COME ON!!! KEEP IT AT NO!
WE NEED NO BAILOUT!
@48, would def still suck palins nips
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.
@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.
57 why dont you suck my cock
dow isnt the best indicator of US pain as many/most are multi-nats
@52 – PPT spinning a mighty, mighty dub. Bernanke’s fleet of helicopters on pad warming up engines.
Repubs? Check out how many Dems voted no before you pass judgement.
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
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
I would grab nuts and then check popcorn…
Rupubs are scum. Hannity was badmouthing this thing all week. And his stupid listeners were eating it up.
@49
I would grab nuts and forget the damn popcorn
@63 61 % of Dems have voted for the Bailout, 66% of Reps have voted against.
I blame them “Cash Flow Generator” midgets that got us into this mess.
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.
40% of Dems voted no. 40. Yeah, it’s all the Repubs. What a fucking retard you are.
what is going on? i’m lost, they’re going for another vote?
Main Street equates this bill as a bailout for fat cats on Wall Street. That is stuck in their minds now.
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?
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.
wow
http://www.youtube.com/watch?v=H5tZc8oH–o
72 You need to improve your math skills
@45 You are completely correct.
Anyone know how Dickhead and Cocksucker voted (i.e. McCain and Obama)?
@ 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.
Thank goodness for the “no short” list. Its really helped the market from being in the red today.
Happy Rosh Hashanah ! Oy
235 Dem votes. 94 nay. 94/235= what Archimedes?
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.
@80– this was a house vote. they are senator
@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!
80: Senators usually don’t vote in the House. Usually.
82 wins the thread.
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.
the run to the bell is going to be fun.
@80: If they voted it would be pretty fucking impressive, what with them being Senators and all.
Thanks everyone
-@80 (mildly retarded today)
-600′s nothing…oct 87 equivalent would be ~-2200
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
#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.
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!
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?
yeah sell equities buy tbills
black monday 2008
John Galt is in Colorado smiling!
The House is filled with Senates retarded cousins
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
@ 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..
I’m going to have to get a finance job in Dubai. Fuck.
I’m going to have to get a finance job in Dubai. Fuck.
@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.
repigs are morons!
@105 lol
i hear there are some hot bitches there though…
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…
Heh, Wachovia will be unhalted in 5 minutes.
http://www.nyse.com/equities/nyseequities/Todays_Alerts.shtml
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.
is paulson in his office shaving his head with a knife in the dark?
roll call has been posted:
http://clerk.house.gov/evs/2008/roll674.xml
I wouldn’t mind Dubai form 10mos out of the year, tax free, etc…but I get irritable after 130 degrees
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.
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.
new shirt idea:
the bailout bill failed and all I got to show for it was this “don’t short me bro!” shirt…
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.
Can a Christian in Dubai still have 5 wives?
@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?
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.
@ 120 – Yes, but only if you grow a beard and stop bathing.
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.
82 wins the thread.
mmmmmm, assets at firesale values, and billions of capital ready to invest.
This is going to be fun
The roll call vote link provided by 114 had the wrong title of the bill. Is this the right roll call?
127 that is the correct roll call
@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:/
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.
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.
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.
Yw56ZL Im grateful for the article.Thanks Again. Will read on…