Analysis: House vote against bailout wounds McCain

[DiveCon]

If it was such a terrible bill then why are the republicans laying the blame at Pelosi's partisan speech as the reason they didn't vote for it?

because they didnt like the gbill and were going to vote for it because it was supposed to be a bipartisan effort, till Pelosi fucked everything up
but i for one, am glad she did
this is a foolish kneejerk reaction, just like the federalizing of the baggage handlers after 9/11
it wasnt a failure of the baggage handlers, it was a failure of the rules they were told to go by
but in that kneejerk reaction it screwed things up for years
they are STILL not doing the job they could have been doing if they had left it alone

 

[Skull Pilot]

The idea was for it to be passed in a bipartisan manner.

Either Pelosi killed the bill with her speech or republicans reneged on the previous agreement to pass the bill.

You guys can't have your cake and eat it too ...

Again the dems didn't want to be the party that passed the bill so the blame would not be theirs. From what i have heard, there was a question of the reps. having enough votes even before the vote was taken. Pelosi rushed the vote and now we have a bunch of "lawmakers" who won't be around for the next couple days because of some religious holiday. The vote could have waited a few more days so more political arm twisting could take place but the Dem. leadership wanted to rush the vote.

 

[DavidS]

Again the dems didn't want to be the party that passed the bill so the blame would not be theirs. From what i have heard, there was a question of the reps. having enough votes even before the vote was taken. Pelosi rushed the vote and now we have a bunch of "lawmakers" who won't be around for the next couple days because of some religious holiday. The vote could have waited a few more days so more political arm twisting could take place but the Dem. leadership wanted to rush the vote.

Now THAT's what I call an October surprise!

 

[Mauser]

Perhaps instead of debating whose fault it is that the bill didn't pass, we should be debating whether it was even necessary.

Clearly it's something the American people didn't want, and a majority in the House of Representatives from both sides of the aisle didn't want it either.

The people spoke. Their elected representatives listened. Most of them, anyway.

Isn't that how it's supposed to work?

 

[Skull Pilot]

Perhaps instead of debating whose fault it is that the bill didn't pass, we should be debating whether it was even necessary.

Clearly it's something the American people didn't want, and a majority in the House of Representatives from both sides of the aisle didn't want it either.

The people spoke. Their elected representatives listened. Most of them, anyway.

Isn't that how it's supposed to work?

Exactly.

There has to be some other way that doesn't smack of socialism.

I have heard people say that the FDIC could potentially be a solution here.

What's happening is that big corps. and wealthy individuals are taking cash out of the market to buy the only safe monetary vehicle left in the market, government t bills.


If the FDIC raised it deposit limit to several million instead of 100K, and exacted a fee of say .25% for all deposits over 1 million to help bolster the FDIC's ability to handle the larger limits, the banks could then charge a small fee to large depositors akin to a brokerage fee that they pay anyway to buy t bills.

We would then see a large influx of cash into the banking system from the private sector. There will still probably be a slow down in credit but it won't be anywhere near as bad as an all out stall like we have now.

 

[DiveCon]

Exactly.

There has to be some other way that doesn't smack of socialism.

I have heard people say that the FDIC could potentially be a solution here.

What's happening is that big corps. and wealthy individuals are taking cash out of the market to buy the only safe monetary vehicle left in the market, government t bills.


If the FDIC raised it deposit limit to several million instead of 100K, and exacted a fee of say .25% for all deposits over 1 million to help bolster the FDIC's ability to handle the larger limits, the banks could then charge a small fee to large depositors akin to a brokerage fee that they pay anyway to buy t bills.

We would then see a large influx of cash into the banking system from the private sector. There will still probably be a slow down in credit but it won't be anywhere near as bad as an all out stall like we have now.

damn, that actually sounds like a good plan

have you contacted your congressman?

 

[WillowTree]

It was 96 DEMOCRATS IN THE house that blocked this bill from passing. You're probably right, there are some very stupid people in this country. And guess who they're supporting? The "messiah"--Barack Obama.

Hey--maybe he'll phone in a solution to this problem!

12 of those Democrats were on Barney Franks finance committee..