House passes financial bailout 263-171.
By on Oct 3rd, 2008 at 1:41 pm
House passes financial bailout 263-171.
On Monday, the House voted down a bipartisan bailout package but today, the House joined the Senate in approving an “unprecedented $700 billion government bailout of the battered financial industry.”
Update See roll call vote here.
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Corporate Jesus would like to thank all those Democrats and Republicans in Congress and the Senate for their betrayal of the American People.
Bless you all!
October 3rd, 2008 at 1:45 pmboooo… free markets, free markets, right bush?
October 3rd, 2008 at 1:47 pmwould any of your non-messiah types care to chip in?
October 3rd, 2008 at 1:47 pmGood to know that all of these “Yes” voting congresspeople and senators need to be voted out of their offices when their time is up. They have just been complicit in the biggest theft …. EVER. (insert several pages of VERY CREATIVE explatives at this point). I hope you all die of bone rot.
October 3rd, 2008 at 1:47 pmEXTORTION
NOONE SHOULD VOTE THESE CRIMINALS BACK IN WHEN THEIR OFFICE SEATS COME UP FOR GRABS.
October 3rd, 2008 at 1:48 pmCan someone tell me where to go to see a list of the yeas and nays?
October 3rd, 2008 at 1:49 pmI wonder if McCain will ’suspend his campaign’ and go to the White House to urge Bush to veto this?
October 3rd, 2008 at 1:49 pmThat would be consistent with his pattern of campaigning.
October 3rd, 2008 at 1:50 pmCorporate pig lickers.
October 3rd, 2008 at 1:52 pmNow why in the name of Zeus’ left nut would Bush ever veto this? He stands to make a nice retirement package out of this deal.
October 3rd, 2008 at 1:53 pmA bill complete with all kinds of pork — including tax exemptions for every citizen of Alaska who gets a payout from the Exxon Valdez settlement.
No wonder Grampy McSame voted for this bill before he urged Dumbya to veto it — it’s got more pork in it than Miss Piggy’s underwear…
October 3rd, 2008 at 1:54 pmI think Maddow or someone pointed out that the only difference in this bill and the one that didn’t pass is all the pork that was added to appease repub ‘fiscal conservatives’. So the bill had to be fiscally irresponsible to please the ‘fiscal conservatives’.
Welcome to American politics.
October 3rd, 2008 at 1:54 pmI’m going outside to bang my head on the concrete for awhile. Maybe I’ll wake up from this nightmare…..
October 3rd, 2008 at 1:54 pmWe’ll be bailing them out again soon.
October 3rd, 2008 at 1:54 pmCageyCretin Says:
Can someone tell me where to go to see a list of the yeas and nays?
October 3rd, 2008 at 1:49 pm
It’s usually not posted for an hour or two after a vote. TP usually posts it when it’s available. Watch for updates.
October 3rd, 2008 at 1:55 pmI am amazed. Is it extortion or treason? or both?
October 3rd, 2008 at 1:57 pmAnd this is how it starts, campers — latest is that the Governator has asked for a $7B bailout of California, reasoning that if they don’t get it then the state may be in as serious a financial crisis as Wall Street.
Just watch — all the beggars will come out of the woodwork with their paper cups in hand, asking us to bail all of them out. While the rest of us have to go on paying high gas prices, making our mortgage payments, paying school loans, etc., with nary a bailout for any of us…
October 3rd, 2008 at 1:59 pmIt all works perfectly into the Cheney plan; deplete the treasury through costly wars, tax cuts and bailouts for the rich and leave nothing for your mother on SS.
¶ AIO
October 3rd, 2008 at 2:00 pmZooey says
Thanks.
October 3rd, 2008 at 2:01 pmSorry, to tired to repost my #100 comment on Think fast thread..I need a nap and it ain’t even noon yet…Guess my med’s aren’t working today….You all have fun posting, I’m outta here..Kucinich is speaking on employment bill at house floor..Blessings all, we really need them.
October 3rd, 2008 at 2:02 pmThe Dogfather Says:
Just watch — all the beggars will come out of the woodwork with their paper cups in hand, asking us to bail all of them out.
Hey, Buddy, can you spare a dime?
October 3rd, 2008 at 2:04 pmSooo… now we have set a new an unprecedented… umm.. precedent. If big business gets in trouble because of their own irresponsible gambling it is the burden of the taxpayers to cover their losses AND to give them bonuses and incentives on top, with further deregulation on the way…..(wait for it….)
Holy flying monkey feces raining down upon the American people!!!!!!
October 3rd, 2008 at 2:05 pmI’m pretty damn pissed about this but cannot imagine how pissed I’d be if I’d had my home foreclosed on, or had a home losing value due to foreclosures and knew my tax dollars were bailing out the losers who squandered away trillions.
In his own circle of friends Phil Gramm is right, they are a bunch of whiners.
I’ve seen interviews on PBS with people who talk about how no one cared the past year or so as entire neighborhoods dried up and people were losing everything they had by the millions. Only when the holy shrine of Wall Street is suffering do our “elected traitors” coming running to the rescue.
Why vote them out of office? Let’s just stop funding their crimes. Use the power of the purse people.
October 3rd, 2008 at 2:05 pmAfter BushCO Lied, Lied, Lied, Lied for 8 years How are we supposed to believed him now, when he looks at the camera and says this is to help the American Economy? I guess Joe SixPack can breath a sigh of relief that he can stay in his home.
This is the Final Crime before Team Bush leaves office. While BushCO Raped, Raped and Raped and Wrung, Wrung, Wrung this country dry for 8 years there’s not a stitch of credibility left. And Paulson and all of Bush’s Wall St. Crooked Money Friends are leaving with their coffers full. They sure are being rewarded for their blue collar crimes. Who says crime doesn’t pay.
This is a sad, sad day for America. This bill has nothing to do with people losing their homes. America’s Military Economy is booming. I want to thank all the members of Congress that voted against this montrous, devestating bill.
October 3rd, 2008 at 2:06 pmThe markets are not exactly reveling at the passage of this bill:
October 3rd, 2008 at 2:06 pmhttp://finance.yahoo.com/marketupdate/overview?u
Crap..Gonna add it anyway…Welcome to A.C.of A… That is Authoritarian Capitalism of America…So long Republic and Democracy, it was nice knowing ya…Blessings
October 3rd, 2008 at 2:09 pmOf course, all the folks who voted for Bush over the years deserve to be robbed. The truth was out there for anyone to see, but he was “one of them” so they got fleeced by their own ignorance. Problem is, so did those of us who knew he was a crook.
From a book by Al Martin published in 2000:
October 3rd, 2008 at 2:10 pm
On a positive note, it time for all the conservatives to PROVE that their policies of deregulation and trickle down are truly wonderful and effective. Not that intelligent people ever believed that crap in the first place, but NOW… this is such a HUGE CRISIS (as they have made enough politicians beleive) and this is such an UNBELIEVABLE amount of money: your conservative ideas are on the line as of right now. One STUMBLE, and you are proven wrong in the public court now and forever. Of course, since these failed theories brought us here in the first place, I guess they have already been proven wrong. So let’s see how many American jobs this creates, and how many of the ever growing homeless living in tent cities INSIDE OF AMERICA get out of those tents, and how our bills go down, and how no more waves of people lose their houses…..
Arrrgggghhhhh!!!!!! Fat rat Bast&#**@*(!!!!!!!!
October 3rd, 2008 at 2:11 pmBrad Sherman (D-CA27) voted against it—that’s all I need to know.
October 3rd, 2008 at 2:13 pmAnd now, here’s Jon Markman explaining why sprinkling cash at the top of this dung heap isn’t going to work long term:
October 3rd, 2008 at 2:17 pmCan the bailout work? Fat Chance
As I watch Pelosi gleefully sign this bill, I just want to vomit. It’s a sad day for America.
October 3rd, 2008 at 2:18 pmThe very honorable Jay Inslee (D) 1-WA also voted agin it.
October 3rd, 2008 at 2:18 pmGood for you Jay!
Hey! Why is the stucking Fock market up only a hundred?
We’re down 350 or so yesterday, 777 on Monday, up 450 on Tuesday, shouldn’t we be up 1100 or so?
Right.
October 3rd, 2008 at 2:20 pmYup.
Pelosi=Vomit
October 3rd, 2008 at 2:20 pmToo funny. My idiotic Rep voted “yes” last time, and “no” this time.
I still hate him. :P
October 3rd, 2008 at 2:21 pmThe roll call vote is up!
October 3rd, 2008 at 2:21 pmHow did Lazy Larsen do RUCerious.? Never mind I know how that weasel was going to vote, we exchanged email’s and I gave him a piece of my mind already cause he didn’t have one…..Blessings
October 3rd, 2008 at 2:22 pmWe have tried the ballot box to exercise our democratic right. It simply doesnt work anymore. Both parties used to routinely ignore the will of the people now its done as a rule.
October 3rd, 2008 at 2:23 pmWhat is to be done ? French revolution type response to this. Armed citizens surrounding congress and the Whore (sorry White) House ?
Our “representatives” feed on the populace’s ignorance apathy.
How’s that good old capitalistic free market working for everyone?
We’re Number One In Greed and Corporation Corruption…
We’re Number One, We’re Number One, We’re Number One.
October 3rd, 2008 at 2:24 pmI remember in ‘06 when ol ‘Nance was talking about draining the swamp referring to the GOP controlled Congress — now we know she where she’s been all the last 2 years…
October 3rd, 2008 at 2:24 pmMy congress critter held true and voted Nay – McDermott, West Seattle.
October 3rd, 2008 at 2:28 pmHay Kay. Yah palosi drained the swamp alright, but she and the big boy’s were in the sewer counting our cash….Blessings
October 3rd, 2008 at 2:28 pma 700 billion dollar plunger for paulson.
October 3rd, 2008 at 2:32 pmCapitalism, with a nice seasoning of fascism to make it exta yummy to the 1%. Here’s the New America: you work, you pay the little money you have in taxes, you get nothing in return, you die in their wars, you pay for any and all things that pertain to you (e.g. healthcare, retirement), and you take care of the wealthy and corporations with your tax money…. this sounds more and more like feudal Europe of the middle ages. The corporations are the nobility (corporate personhood helped usher THAT in very nicely), and if you are not a 1%er or a good lapdog (see Pelosi, Bush, McCain, etc.) then you are a peasant. Like most metaphors, it does not hold up to close scrutiny — some nobles were a little concerned about their peasants, while the corporations don’t give a dam n about anyone not at the top.
October 3rd, 2008 at 2:33 pmThis is a bipartisan effort with a huge price tag. The beneficiaries are not the rich or the poor. Or main street or wall street.
The beneficiaries are the irresponsible.
To avoid the short term pain (and political implications) of market corrections, tight credit and failed loans; our government has decided to commandeer a collective $1 trillion dollars to use as collateral that will guarantee that irresponsible debtors will pay there obligations to irresponsible lenders.
The hope is, that the loans will be paid. But, if they are not, the money disappears. It’s like the government using my house as collateral to ensure my irresponsible brother pays his money to his likewise irresponsible (and greedy) lender. I hope he pays, otherwise they’ll come for my house that I worked hard for.
Either way, it sends a message. If you can’t afford the loan, go ahead anyway. The government will probably bail you out. And to lenders: there’s no real reason to forego the highly profitable, more risky agreements. In good times, you’ll reap the benefit of the high profits – and in bad, the government will bail you out.
And to the responsible homeowners and lending institutions, your prudence isn’t valued. It’s actually going to be exploited to insulate your irresponsible contemporaries.
I don’t know if the bailout is necessary or what would happen without it. But, our parents (grandparents) learned important (and responsible) lessons about money, because they had to endure difficult times. And didn’t take money for granted.
Will we really learn anything from this bailout? I’m afraid we are just kicking the can down the road.
October 3rd, 2008 at 2:34 pm#43 Pelosi and Lieberman are classic examples of non-leaders. These people do not and never will represent the TRUE interests of the vast majority of American people. Time and again they have demonstrated this, yet they get re-elected over and over again.
WTF is wrong with this ridiculous “democracy” in America ?
October 3rd, 2008 at 2:35 pm# 44 and all, it was in realety more like a $800 billion dollar bail out with all the added trough munchie’s for the pig’s…Blessings
October 3rd, 2008 at 2:37 pmYAY!!!
PRIVATIZE the profit!!
SOCIALIZE the losses!!
YAY AMURKA!!
October 3rd, 2008 at 2:37 pmFunny. The greater majority of Americans are against this WELFARE for the greedy. This was not a recue nor a bailout: it is WELFARE. The polls running now are showing a complete lack of confidence in this welfare.
We the People know we’re getting the shaft, and we are powerless to stop it… or the means of doing so still seems unpalateable….
October 3rd, 2008 at 2:44 pmThere goes a first term democratic agenda (not presidency folks, agenda).
I’m going to call Wall Street a herd of bums for as long as I live.
October 3rd, 2008 at 2:50 pmCageyCretin Says:
Funny. The greater majority of Americans are against this WELFARE for the greedy. This was not a recue nor a bailout: it is WELFARE. The polls running now are showing a complete lack of confidence in this welfare.
I wonder if the same economists who mailed in a warning to congress are equally against the passed version? I bet all of them still are.
October 3rd, 2008 at 2:52 pmMcWars Says:
I wonder if the same economists who mailed in a warning to congress are equally against the passed version? I bet all of them still are.
You know, (or as you know), the passed version is the original version with about 400 pages of pork added, I bet they are. From the few things I’ve seen in the last half hour or so, it seems to be that case — the economists have not changed their tune because some pork was added: they STILL say it is a complete waste. The thing is, the projection seems to be for it to do some measure of apparent good for a few months before it all fold in on itself again… which would mean that it falls apart right after Obama gets in office, thus becoming a huge albutross to hang on his neck, on top of the unreal debt that we have, unsustainable “wars” in Iraq and Afghanistan, etc, etc., et-efFing-bloody-ct.
October 3rd, 2008 at 2:59 pmI honestly don’t think that I was THIS PO’d when bubba stole the second election. WTF?!!?!??!!??!!!
October 3rd, 2008 at 3:01 pm42. Buckie Boy Says: My congress critter held true and voted Nay – McDermott, West Seattle.
A true patriot. Just like Kucinich, who voted against this ransom note from the idioti of Wall Street.
Obama voted for it. McCranky voted for it.
But hey, let’s make some more UFO jokes about Kucinich; not so funny anymore, are they? I figure that particular stupidity on the part of the hoi polloi just cost everyone around $700 BILLION. Kucinich also did not vote for the FISA screwing or Telecom immunity.
At least now you can repeat clever old leprechaun jokes to the guy in the refrigerator box next to yours…
October 3rd, 2008 at 3:07 pmYou said it, Cagey. I’m going to keep a look out for recent takes by respected economists. This doesn’t look good.
I’m very much afraid for the middle class and for democracy.
October 3rd, 2008 at 3:08 pm$110 billion of earmarks were added to the $700 billion bailout bill that was passed by the Senate. It’s obviously impossible for either the House or the Senate to pass a clean bill that actually addresses only this “crisis.”
October 3rd, 2008 at 3:08 pmGood weekend to all the marvelous posters here. I’m going to go bang my head on the street until monday morning.
WTF happened to my country? I want it back, Gd Dmnt!!!!
October 3rd, 2008 at 3:12 pmwhich would mean that it falls apart right after Obama gets in office, thus becoming a huge albutross to hang on his neck, on top of the unreal debt that we have, unsustainable “wars” in Iraq and Afghanistan, etc, etc., et-efFing-bloody-ct.
Worst of all, it’s an albatross that he helped hang around his own neck. He DID vote yes in the Senate for this monstrosity, as did McCain. I’ve been trying to hang onto my faith for our democracy since 2001, and with gritted teeth after the 2004 election. I almost left the country in 2004, but my friends begged me not to give up. I wish, now, that I hadn’t listened to them.
October 3rd, 2008 at 3:21 pmEdge of the Abyss
Paul Krugman
Snip
There’s growing evidence that the financial crunch is spreading to Main Street, with small businesses having trouble raising money and seeing their credit lines cut. And leading indicators for both employment and industrial production have turned sharply worse, suggesting that even before Lehman’s fall, the economy, which has been sagging since last year, was falling off a cliff.
How bad is it? Normally sober people are sounding apocalyptic. On Thursday, the bond trader and blogger John Jansen declared that current conditions are “the financial equivalent of the Reign of Terror during the French Revolution,” while Joel Prakken of Macroeconomic Advisers says that the economy seems to be on “the edge of the abyss.”
And the people who should be steering us away from that abyss are out to lunch.
The House will probably vote on Friday on the latest version of the $700 billion bailout plan — originally the Paulson plan, then the Paulson-Dodd-Frank plan, and now, I guess, the Paulson-Dodd-Frank-Pork plan (it’s been larded up since the House rejected it on Monday). I hope that it passes, simply because we’re in the middle of a financial panic, and another no vote would make the panic even worse. But that’s just another way of saying that the economy is now hostage to the Treasury Department’s blunders.
For the fact is that the plan on offer is a stinker — and inexcusably so. The financial system has been under severe stress for more than a year, and there should have been carefully thought-out contingency plans ready to roll out in case the markets melted down. Obviously, there weren’t: the Paulson plan was clearly drawn up in haste and confusion. And Treasury officials have yet to offer any clear explanation of how the plan is supposed to work, probably because they themselves have no idea what they’re doing.
Despite this, as I said, I hope the plan passes, because otherwise we’ll probably see even worse panic in the markets. But at best, the plan will buy some time to seek a real solution to the crisis.
And that raises the question: Do we have that time?
Snip
http://www.nytimes.com/2008/10/03/opinion/03krugman.html
**Here is an interesting read from an economist that I do not take lightly. We are really f’d up and without any regulations in place, these bad practices that got us here until SOMEONE gets on the ball to fix it. There are similar sentiments in the Washington Oost today. All this bill did was buy us time but noone can really say how much.
October 3rd, 2008 at 3:30 pmRight, so we all agree the country has been run into the ground by the Republicans ? Gentlemen, arm your selves
October 3rd, 2008 at 3:44 pm______
JBaddo Says:
——————————————————————————–
Right, so we all agree the country has been run into the ground by the Republicans ? Gentlemen, arm your selves
October 3rd, 2008 at 3:44 pm
______
“The responsibility that the Democrats have may rest more with resisting any efforts by Republicans in the Congress or by me when I was president to put some standards and tighten up a little on Fannie Mae and Freddie Mac.”
Bill Clinton
Not just the Repubs.
FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005
The United States Senate
May 25, 2006
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
John McCain
http://thomas.loc.gov/cgi-bin/query/D?r109:16:./temp/~r109P7zojA::
October 3rd, 2008 at 4:01 pmthis is the day that capitalism killed democracy.
if its too big to fail, then by logic, its too big to exist.
October 3rd, 2008 at 4:04 pmHey everyone, lighten up. Remember, the foundations of the economy are solid. I have no idea what that is suppose to mean but they keep telling me that…
October 3rd, 2008 at 4:38 pmWell, I know which song I’ll be blasting on the way home today.
Lyrics linked for “fear” of moderation:
http://www.lyricsfreak.com/m/ministry/thieves_20093939.html
October 3rd, 2008 at 4:43 pmInteresting tally on the vote per the Update:
172 Democrats FOR the bill vs 63 AGAINST
91 Republicans FOR the bill vs 108 Against
WTF WTF WTF WTF WTF WTF WTF WTF WTF WTF WTF WTF WTF
Apparently they added enough PORK to the goddamn thing to make the greased pig more attractive so the idiots would vote for it, then applied sufficient lipstick to both ends to make it more attractive to all concerned.
We are so forked.
October 3rd, 2008 at 5:13 pmTallies are in at congress.org.
October 3rd, 2008 at 5:35 pmOh, cool. I see there is a link on this blog with the tallies by NAMES and states.
Now what? Besides nausea…
October 3rd, 2008 at 5:39 pmTo be honest, I don’t really know what to feel about this issue. $700 Billion? That’s an amount to huge to comprehend. Stocks, DOW, I don’t know what’s going on!
However, I do hold that universal belief, nay, truth that Bush is and always will be an idiot. Henry Paulson is also an idiot.
October 3rd, 2008 at 5:50 pm#64, there’s nothing capitalistic about it. this is corrupt socialism for the financial elite. a complete plunder of the public trust by the most well off… the people who gave us this mess have in turn robbed us of any chance we had to recover gracefully.
worse, the media has only focused on the endemic issues: greed and regulatory contentions. the real problems — the systemic problems — have to do with our completely corrupt money system, our central bank: the federal reserve. until this is ABOLISHED, be prepared for more of the same.
http://www.youtube.com/watch?v=__YFnUfYXZk
October 3rd, 2008 at 5:53 pmDisgusting!! I can smell Pelosi from here. I hope Cindy trounces her.
My congressman Donald Payne voted NO as did Steve Rothman. Good for them. There are still Patriots and Constitutionalists left.
Is anyone ready to take the first step and go out on the empty dance floor? Vote third party?
If we don’t, we will have Perpetual Corporatism, and not have to choose between the “Lesser of Two Weasels”, as in this coming election.
October 3rd, 2008 at 6:37 pmCongress threatened with Martial Law if they did not vote yes:
http://www.youtube.com/watch?v=HaG9d_4zij8
October 3rd, 2008 at 11:19 pmNice package of pork. Gee, I wonder how much pelosi, dodd and frank got paid-off for this crap sandwich.
Drag all senators, that loaded this bill with pork, away in shackles. Drag all representatives, who voted for this bill becaues it was loaded with special pork for their constinuency, away in shackles.
October 3rd, 2008 at 11:48 pmRat bastards.
October 4th, 2008 at 12:30 amThe final nail in democracy’s coffin.
It’s official, I hate this fu[king government and have hopes that they all mysteriously find themselves on sinking boat to hell.
October 4th, 2008 at 12:42 pmHey Timmeh how much do YOU get paid to spout off this ignorant tripe on this board? You are stupid, you are disgusting and you are a punk several rungs lower than pondscum on the evolutionary ladder.
October 4th, 2008 at 11:21 pm