Massive financial bailout

House votes no!

WOW a bit surprising. I did see alot of ppl in congress saying they were not happy with this plan at all but when the republicans brought up another plan everybody complained it would take too long.

I think its a smart idea to extend mortgages and find a way to lower monthly payments for those in trouble so this way they keep their homes and not have to foreclose.

I didnt want the bail out plan but i hope they have a good plan to help save the market bc dont need for that to crash.

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Posted by PROBM

this vote not being passed is very very scary! this is going to trickle down to everyones pocket. n oone is going to be able to conduct business , be careful about clapping its not abut bailing out millionaries its about the economy

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i hated the plan but at the same time worried about the economy. Its hard for congress bc they know if they vote yes then people will criticize the government for being socialist now since government doesnt get involved with business. I am sure it was a hard decision. As tax payers, we dont want to pay for the mistakes of these rich greedy CEO's who never gave a d*mn about the little people and now we have to bail them out. They even said in the article how they had so many phone calls and emails from angry citizens about the bail out.

However, the republicans had a different plan and looks like thats what they might be going with. They are going to extend mortgages so that it becomes affordable for homeowners and the holder of the mortgage will pay the insurance off. Seems like they also are trying to find a plan for mortgage backed securities.

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Posted by ELluvsMB

omg this is totally nuts I was almost sure it would pass!!

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me too. i'm really surprised... i don't trust the govt or the media, but i don't think they're bull$hitting about the consequences this time.

I don't know how I feel about it honestly but I do know that I am scared. I am already living paycheck to paycheck and not being able to save for this wedding or pay off any bills... and our combined income is very very good.. so i am just really nervous.

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Posted by beram63

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Posted by ELluvsMB

omg this is totally nuts I was almost sure it would pass!!

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me too. i'm really surprised... i don't trust the govt or the media, but i don't think they're bull$hitting about the consequences this time.

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see, but i wonder how much it would've helped. Just 1 of the companies in danger needs $350 billion dollars. So how would $750 help ALL of them. Also, even if they were given the money, it might've been just a temporary save and in the end this would've happened regardless.

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Posted by PROBM

this is not being passed bc the politics who voted against it are scared that they are not going to be reelected... meanwhile they are going to put us in a GREAT DEPRESSION!

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actually its the ceo's of the financial businesses that put us there. Its not governments responsibility to pay off their debts, this is not a socialist government. Its the mortgage business and financial institutions that put us in this situation.

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Posted by PROBM

this is not being passed bc the politics who voted against it are scared that they are not going to be reelected... meanwhile they are going to put us in a GREAT DEPRESSION!

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there's been public backlash about the whole thing--letters and phone calls rolling in the thousands. i think they're legitimately scared. i posted this about it yesterday. i agree w/ you tho. i'm really nervous.

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Posted by Espo22

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Posted by PROBM

this is not being passed bc the politics who voted against it are scared that they are not going to be reelected... meanwhile they are going to put us in a GREAT DEPRESSION!

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actually its the ceo's of the financial businesses that put us there. Its not governments responsibility to pay off their debts, this is not a socialist government. Its the mortgage business and financial institutions that put us in this situation.

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the goverment passed the bill to loosen up lending standards, its everyones fault.

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Posted by Espo22

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Posted by PROBM

this is not being passed bc the politics who voted against it are scared that they are not going to be reelected... meanwhile they are going to put us in a GREAT DEPRESSION!

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actually its the ceo's of the financial businesses that put us there. Its not governments responsibility to pay off their debts, this is not a socialist government. Its the mortgage business and financial institutions that put us in this situation.

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Exactly especially the part about this not being a socialist government. The bailout is socialism for the rich

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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Posted by Kristina2009

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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I'm so glad you said this. Its not just about the CEOs selling mortgages for cheap, its about also about people not educating themselves before they borrow, defaulting and then blaming 'the man'.

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Posted by MrsKtoBe

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Posted by Kristina2009

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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I'm so glad you said this. Its not just about the CEOs selling mortgages for cheap, its about also about people not educating themselves before they borrow, defaulting and then blaming 'the man'.

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I think the whole thing is just a huge blame game. There are so many things to blame that put us in this situation. People should have been more responsible, there should have been more regulations, People blaming Clinton, people blaming Bush. Its just a huge mess

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Posted by PROBM

this vote not being passed is very very scary! this is going to trickle down to everyones pocket. no one is going to be able to conduct business , be careful about clapping its not about bailing out millionaries its about the economy , me , you and our future

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ITA!!! Especially being that Citibank is buying Wachovia ... everything is going under and that is scary in itself ... we need some sort of plan

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Posted by Kristina2009

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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i blame everyone too haha, its sad but true.

Well they are coming up with other ideas now. Its not like they are saying no to the plan and just leaving it at that. They are coming up with other ways to fix the problem.