Senate passes bailout

[RetiredGySgt]

cute cartoon

it's funny that they had to add 106 billion in tax cuts for the corporations for the house republicans to even consider it...

the bill they voted down on Monday was much better, didn't have ANY pork in it and the REpublicans killed it... nice going fuckos!

also, McCain didn't make even a peep... at least Obama got up and spoke on the Senate floor... right or wrong he took a stand... McCain showed he's a coward through and through

Well except for the small fact over 90 democrats voted against it, so much for your pet theory ehh?

 

[plt42]

I know this action by the Senate did not find favor with a number of Americans. In listening to C-Span callers, it seemed that there were many who agreed that something had to be done to keep the economy solvent. I fall into the latter group.

My opinion only.

 

[Seraph]

The current economy is like a big pile of garbage with a thin layer of illusion over it. The garbage starts poking through so they spray some more illusion to cover it up again... for now.

 

[clane1987]

Awesome we created three trillion dollars more debt for our country at a plan that is not a guarantee which also screws the middle and lower class people because the fat cats made mistakes. I hope the house rejects this bill again!

 

[Mauser]

NEW YORK (CNNMoney.com) -- The Senate on Wednesday night passed a sweeping and controversial financial bailout bill similar in key ways to one rejected by the House just two days earlier.

The measure was passed by a vote of 74 to 25 after more than three hours of floor debate in the Senate. Both presidential candidates, Sens. Barack Obama, D-Illinois, and John McCain, R-Arizona, voted in favor.

Like the bill the House rejected, the core of the Senate bill is the Bush administration's plan to buy up to $700 billion of troubled assets from financial institutions.

Those assets, mostly mortgage-related, have caused a crisis of confidence in the credit markets. A major aim of the plan is to free up banks to start lending again once their balance sheets are cleared of toxic holdings.

But the Senate legislation also includes a number of new provisions aimed at Main Street.

The changes are intended to attract more votes in the House, in particular from House Republicans, two-thirds of whom voted against the bailout plan.

Senate passes financial bailout bill full of sweeteners - Oct. 1, 2008

Put enough pork in a bill, and apparently anyone will vote for it.

Even McCain, unfortunately.

 

[mightypeon]

Funny thing: 21% of the US BIP is made of financial derivates.
In Germany, the same number is 6%.
Do 15% of the US BIP only exist on paper?

 

[Ravi]

My Republican Senator voted Yea and my Democratic Senator voted Nay.

 

[Ravi]

Put enough pork in a bill, and apparently anyone will vote for it.

Even McCain, unfortunately.

How could he vote against an earmark for Alaska?

 

[Skull Pilot]

Seriously. This bill is a LOT worse than the last one.

what's worse:

getting shot though the heart or just knifed through the heart.

either way you're dead just like this bill

either way freedom is dead.

this is one of the most disgusting money grabs in history. and it's OUR money and no one cares. seriously it makes me sick.

 

[editec]

Did they actually vote on it officially, or was this just a Senatorial straw vote?

Section 7. All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.

I believe the Senate cannot truly vote on this if it's a revenue bill.

So the question is: is it a revenue bill?

Good question.

They're inventing money so I guess it might be considered raising revenue.

If so, then HOUSE must pass it first, then the Senate can consider the question officially.

I'm hearing more and more talking heads now talking about structuring a TRICKLE UP system (like I proposed and was done in the 30s) instead of this bailout that just serves the banks bondholders, BTW.

The other thing that's truly pissing me off about this process is that both the Republicans and Democrats are insinuating their own pet issues into this important piece of legislation.

The gangsters on both sides of the aisle truly have no shame.

I even object to saddling this bill with the admendments that I agree with, to be honest.

This whole process is SNAFU, in my opinion.

 

[Skull Pilot]

Did they actually vote on it officially, or was this just a Senatorial straw vote?



I believe the Senate cannot truly vote on this if it's a revenue bill.

So the question is: is it a revenue bill?

Good question.

They're inventing money so I guess it might be considered raising revenue.

If so, then HOUSE must pass it first, then the Senate can consider the question officially.

I'm hearing more and more talking heads now talking about structuring a TRICKLE UP system (like I proposed and was done in the 30s) instead of this bailout that just serves the banks bondholders, BTW.

The other thing that's truly pissing me off about this process is that both the Republicans and Democrats are insinuating their own pet issues into this important piece of legislation.

The gangsters on both sides of the aisle truly have no shame.

I even object to saddling this bill with the admendments that I agree with, to be honest.

This whole process is SNAFU, in my opinion.

You are right ed.

the senate just wanted to step up and show those silly congressmen that, unlike them, the senate could all engage in groupthink and pass a pork laden abomination.

What a fine example they set.

 

[editec]

I think the only reason people will vote for McCain is that he's not Obama, and the only reason people will vote for Obama is because they've been drinking the Kool Aid.

Amusing.

Of course if Obama could walk on water, we all know how you Republican loyalists would characterize it, don't we?

Look! Obama can't swim!​

 

[editec]

You are right ed.

the senate just wanted to step up and show those silly congressmen that, unlike them, the senate could all engage in groupthink and pass a pork laden abomination.

What a fine example they set.

Yeah, thought so.

Showboating bullshit.

Of course the Representatives are up for re-election, aren't they?

Apparently some of them still think our opinions about this enormous rip off matter.

How quaint of them to care, eh?

 

[DiamondDave]

Money for "wool research"? Tax breaks for "wooden toy arrow manufacturing"?

This fucking pork is ridiculous...

If the bill is not worthy of standing on it's own, it is not worth passing...

 

[editec]

I haven't read the latest bill before the House for consideration.

I am frankly ASTOUNDED that these cretins think THIS BILL is just another excuse for them to ram through PORK.

It truly is time to run Congressmen who voted for this crap out of town on a rail, folks.

I dont' give a crap what party they belong to, either. Hang 'em high.

"America has no natural-born criminal class...except Congress"​

Mark Twain​

 

[DiamondDave]

I haven't read the latest bill before the House for consideration.

I am frankly ASTOUNDED that these cretins think THIS BILL is just another excuse for them to ram through PORK.

It truly is time to run Congressmen who voted for this crap out of town on a rail, folks.

I dont' give a crap what party they belong to, either. Hang 'em high.

"America has no natural-born criminal class...except Congress"​

Mark Twain​

Right there with you on that sentiment, editec

 

[editec]

Right there with you on that sentiment, editec

Perhaps there is a silver lining in this mess, after all DD.

At least NOW we can all see that the divide has never been about left and right.

It has ALWAYS been about inside V outside.

You and me and my guess is everyone on this board (and the thousands like them, too) are on the OUTSIDE.

We're all Bozos on this bus, amigo.

 

[random3434]

Perhaps there is a silver lining in this mess, after all DD.

At least NOW we can all see that the divide has never been about left and right.

It has ALWAYS been about inside V outside.

You and me and my guess is everyone on this board (and the thousands like them, too) are on the OUTSIDE.

We're all Bozos on this bus, amigo.

And the government is the bus driver.

 

[KMAN]

Obviously not. If they could have, they would have without tagging on 100 bil in spending to satisfy those fiscal conservatives, the Republicans.

So you are saying the 91 Democrats who voted no needed some of that pork to vote yes as well?

 

[WillowTree]

So you are saying the 91 Democrats who voted no needed some of that pork to vote yes as well?

these numbers keep changing and I don't know why. I watched that vote and iirc it was 95 or 96 Democrats against that bill.