House to Vote on Bailout Fri, Write Your Reps.

[Churchill]

I like how people are telling their representatives not to vote yet they are still voting for it.

[Churchill]

good thing you have monica and 9/11 to block out your memory of why exactly that was eh

Damn, when I get rid of Monica and 9/11 all I can think of is letting the dollar become so inflationary and allowing such huge market bubbles to occur while building an imaginary surplus that a recession was bound to happen and any action to stop it is just a band-aid for the inevitable.

Oh you meant Bill Clinton, lol.

[Gwynplaine]

Looks like the magical "rescue" bill isn't able to change the facts of reality so far as far as the stock market is concerned.

[Correction]

Because the stock market is the #1 indicator of economic health amirite?

[kuronosan]

Dunno people came in their pants when the market went over 10,000. Now they're pissing their pants.

[Correction]

Unless you're about to (i.e. 6 months to a year) retire and your formerly well-funded 401k/stock portfolio was your only hope for retirement, the DJIA dropping shouldn't make anybody wet their pants.

[kuronosan]

I was more commenting on how Wall Street is reacting as if all their money is going down the drain.

[Gwynplaine]

Oh yeah by the way, over the weekend the House quietly approved a bill including $25bil to subsidize the auto industry, and Bush recently signed off on it. Potentially it can even be used by foreign companies who have plants in the U.S.

[Tyche]

Oh yeah by the way, over the weekend the House quietly approved a bill including $25bil to subsidize the auto industry, and Bush recently signed off on it. Potentially it can even be used by foreign companies who have plants in the U.S.

Thank god, because Toyota employs several thousand workers here and it's not doing too hot. I don't get what your issue is.

[Kuya]

My small problem with it is that the right which tends to laud free market should be outraged about this, but they aren't. I suppose they must be too busy complaining about welfare moms too care about this.

[Gwynplaine]

My issue is that a company that is "not doing so hot" has no right to take money from taxpayers by government force to prop up its own faltering business. Let alone a company that isn't even based in this country. If Japan thinks Toyota should get a government loan to cover the new costs of energy requirements, then let them do it, but why on earth should Americans potentially pay it? If I wanted Toyota to have my money I'd buy their cars. And if they, or any American auto company, are not able to continue to run off the profit of their customers then they should rightly go out of business, not go running to Uncle Sam for low interest loans the likes of which sane creditors wouldn't grant them.

[Correction]

I'm sure they'd go to another creditor if they could. But guess what, they can't and it's not because of their business model.

[Aerin]

If Japan thinks Toyota should get a government loan to cover the new costs of energy requirements, then let them do it, but why on earth should Americans potentially pay it?

Probably because it can potentially save thousands of American jobs. Not really saying I agree with it, but I'm sure that's their justification for it.

[eunhye]

Automakers hope to pay about 5% interest on the loans, instead of rates as high as 20% they are paying to borrow money currently, in part because of their poor credit ratings. That would save them about $100 million a year for every $1 billion in loans.

They do pay it back though but at 5%. Again, if the US allows this for auto-makers at 5%, why can't they allow this for people who are facing foreclosures? I mean, 30 year fixed 5% or something. The ARM loan needs to be fixed. But they can just help auto-makers so quickly and not main street?

[Churchill]

main street!

wall street!

small business!

big business!

You're all going to be poor because money will be worth nothing, and I will be so completely full of glee when it finally happens.

[Demosthenes11]

My small problem with it is that the right which tends to laud free market should be outraged about this, but they aren't. I suppose they must be too busy complaining about welfare moms too care about this.

can you think even for a second that perhaps conservatives might sometimes not think in blanket statements like "government help is always wrong" and possibly think what is best for the situation we are in?
I swear you are the biggest troll in the general board

[Churchill]

can you think even for a second that perhaps conservatives might sometimes not think in blanket statements like "government help is always wrong" and possibly think what is best for the situation we are in?
I swear you are the biggest troll in the general board

NEOCON

[Demosthenes11]

NEOCON

STFU YOU MCCAIN BOXER WEARING NEOCON

[Beckwin]

hey now, I thought I was the only one who used that word.

anyways, financial meltdown is a solution for the pangs of globalization. we'll get back low skill manufacturing jobs and actually need our farming to be competitive.

[Kuya]

can you think even for a second that perhaps conservatives might sometimes not think in blanket statements like "government help is always wrong" and possibly think what is best for the situation we are in?
I swear you are the biggest troll in the general board

I am now very sure that the word troll is the new nazi, most definitely. A word that is wantonly used when half the time is does not really apply but it functions well in regard of the person using it trying to negatively paint the person receiving the insult as someone who's point is not valid because he is not really serious. It's kind of like calling someone crazy. Also, Demos, i'd appreciate it if you never call me a troll again, coming from you, that is just plain ridiculous, but you're not a troll, you're just similar to one because you are incredibly stupid when it comes to anything regarding politics.

And perhaps certain conservatives don't think that government intervention is always wrong; they just think it's wrong when it doesn't involve giving the higher rung of the economic ladder benefits. Either way, the words free market, economic conservatism, and capitalism are at this point political rolling calls used by demagogues. They don't really mean anything substantial aside from the small number of people who actually believe the government should stay out of most things.