By large margin, Senate passes bailout bill

Why not 4 Trillion instead? All you have to do is turn up the speed of the printers at the Treasury/mint. Let's go boys!!!!

When you were paying 4.29 for gas they did nothing. They talk about the children and now they just put them under the bus. They drive a Tahoe and you take the bus. Sept 11 2001 is the day we lost our freedom. They didnt listen to you today. You serve the goverment. You are the slave to Washington. You asked to be taken care of. You didnt save a dime for dark days. The devil looks in and smiles.

Uh-oh.

I'd be more impressed if they hadn't attached pork and tax cuts.

100 of the biggest fools in this county.

hmmm wrote:

I'd be more impressed if they hadn't attached pork and tax cuts.

I happen to just catch that on the news. Tax breaks for wool manufacturing??? Tax breaks??? Crazy.

I saw a great quote today that seems very well connected:

“If you want to change government, don’t focus on changing government; you’re not going to get anywhere. You’ve got to change the corporations, because government’s just a pawn of the corporations. Well, if you want to change corporations, you’ve got to change consumers. That’s where the buck stops, with us. We are the consumers. We’re not citizens anymore, we’re consumers. We’re the ones that feed the corporations that feed the government. So we’re the ones that have to change.”

~Yvon Chouinard (founder of Patagonia)

Mellers wrote:

<quoted text>“If you want to change government, don’t focus on changing government; you’re not going to get anywhere. You’ve got to change the corporations, because government’s just a pawn of the corporations. Well, if you want to change corporations, you’ve got to change consumers. That’s where the buck stops, with us. We are the consumers. We’re not citizens anymore, we’re consumers. We’re the ones that feed the corporations that feed the government. So we’re the ones that have to change.”
~Yvon Chouinard (founder of Patagonia)

Yes, vote with YOUR WALLET, I have for years.

Here’s a solution: Vote everyone currently in office out of office.

donkeyman wrote:

100 of the biggest fools in this county.

No, only 74 that should be hung by their toes and tarred and feathered. Then lastly be voted out of public office.

That includes Obama, Biden and McCaina all voting yes.

Will this finally destroy the two party system or just the country.

We are so F*CKED!

John Kass wrote:

<quoted text>
Yes, vote with YOUR WALLET, I have for years.

I'm doing that more and more. First rule: ignore what the media and marketing tell you to buy/have/consume.

I'm sad to say, but my name is still correct. The Senate got it wrong.

This is insane. How can Betty vote to bail out Wall Street? Is she nuts?

They are going to put $700,000,000,000.00 in the hands of one man. Hank paulson is going to destroy our currency, country and way of life.

Senators who voted No to the bailout bill

Here's the quick list of the senators who voted NO on bailout/economic rescue.

Allard (R)
Barasso (R)
Brownback (R)
Bunning (R)
Cantwell (D)
Cochran (R)
Crapo (R)
DeMint (R)
Dole (R)
Dorgan (D)
Enzi (R)
Feingold (D)
Inhofe (R)
Johnson (D)
Landrieu (D)
Nelson (FL)(D)
Roberts (R)
Sanders (I)
Sessions (R)
Shelby (R)
Stabenow (D)
Tester (D)
Vitter (R)
Wicker (R)
Wyden (D)

I might get censored so we will see if TRUTH reigns

All hail emperor Paulson! We who are about to lose our country salute you! Welcome all to the new world order!

How long is the beast allowed to have authority in Revelations?

Revelations Chapter 13 tells us it is 42 months, and you know what that is.
Almost a four-year term of a Presidency.

All I can say is 'Lord, Have mercy on us!'

According to The Book of Revelations the anti-Christ is: The anti-Christ will
be a man, in his 40's, of MUSLIM descent, who will deceive the nations with
persuasive language, and have a MASSIVE Christ-like appeal....the prophecy says
that people will flock to him and he will promise false hope and world peace,
and when he is in power, will destroy everything..

Do we recognize this description??

I STRONGLY URGE each one of you to post this as many times as
you can! Each opportunity that you have to send it to a friend or media outlet..do it!
I refuse to take a chance on this unknown candidate who came out of nowhere.

From: Dr. John Tisdale
~~~~~~~~~~


Dear Friends,

As I was listening to a news program last night, I watched in horror as Barack Obama made the statement with pride...'we are no longer a Christian nation; we are now a nation of Christians, Jews, Muslims, Buddhists,...' As with so many other statements I've heard him (and his wife) make, I never thought I'd see the day that I'd hear something like that from a presidential candidate in this nation. To think our forefathers fought and died for the right for our nation to be a Christian nation--and to have this man say with pride that we are no longer that. How far this nation has come from what our founding fathers intended it to be.

I hope that each of you will do what I'm doing now--send your concerns, written simply and sincerely, to the Christians on your email list. With God's help, and He is still in control of this nation and all else, we can show this man and the world in November that we are, indeed, still a Christian nation!

I am opposed to the bailout, but some of the comments in here are less than astral.
The tax breaks are extensions of existing tax law, I have not had a chance to read the current rendition of this bill that started out as three pages but now is over four hundred, but I would bet the tax breaks are the best part of it, maybe the only part that we wont have to pay for since tax breaks have always increased economic activity, John Kennedy, Ronald Reagan and George Bush proved that. If you look at tax revenue reported to the government during these periods it is clearly illustrated. Government spending always exceeds its income, congress sees to that, regardless of party.

Ann wrote:

Here’s a solution: Vote everyone currently in office out of office.

That’s not a solution, that’s intellectual laziness.

"AMERICANS HAVE GOOD REASON to be confident in our economic strength" President Bush told the nation Wednesday night. "Despite corrections in the marketplace and instances of abuse, democratic capitalism is the best system ever devised."

Then why, one must ask, is he orchestrating the biggest government intervention into private markets since FDR's New Deal? This one-time advocate for an "ownership society" is putting the country on course to set executive pay, own large chunks of private business and strictly dictate terms of trade.


It's not a coincidence that, while the credit crisis has been unfolding for well over a year, markets have only truly become unhinged since the failure of Bear Stearns, when the government first began using taxpayers' money to directly participate in private trade. Every intervention since, including bailouts of Freddie Mac (FRE) and Fannie Mae (FNM), the SEC's short-selling ban and rescue loan to AIG (AIG:), has been enacted to supposedly "restore confidence".

Yet the more the government intervenes, the more erratic the markets become. Over the last seven trading days, just as the $700 billion bailout proposal was being pitched, the market has moved 3% on five occasions -- a historic period of short-term volatility.

Originally intended only to cover financials, the list of stocks on the restricted short-sale list grows longer and even more arbitrary every day and now includes non-financial companies like prescription-benefits provider Express Scripts (ESRX), auto maker General Motors (GM) and computer colossus IBM (IBM). Companies are actively lobbying either to be put on or taken off the list, meaning that law is literally being determined in a totally subjective fashion by non-elected officials.

And as was reported Wednesday by Reuters, the cost of insuring the government's 10-year bond against default has risen to a record high, with credit default swaps jumping from 26.5 basis points on Tuesday to an all-time high of 29.2 basis points.

And the TED spread, a longtime indicator of credit risk in financial markets, has now risen above 300 basis points, higher than the level hit during the 1987 stock market crash.

As I've been discussing for weeks, markets are now being dictated by political rather than economic factors. Leading politicians, from Treasury Secretary Hank Paulson to Rep. Barney Frank (D., Mass.), are literally winging it on an ad-hoc basis, making up rules as they go along. It's not confidence they are instilling, but chaos.


I'm a trader, not a political pundit. To that end, I'd love nothing more than to get back to talking about earnings, trends, new products and corporate management. Unfortunately, right now none of those matter. Big Brother is jerking the strings of the financial markets on a daily basis, making normal methods of analysis all but impotent.


Whether the final price tag is $700 billion or not, just as with Sarbanes-Oxley or the Patriot Act, the government's need to "do something" will deliver a cure that's much worse than the disease,(likely) turning a normal two-year correction into a multi-decade Depression.


The Barack Obama and John McCain campaigns issued a joint statement Wednesday night proclaiming that "this is a time to rise above politics for the good of the country." Fat chance. Politics is at the very heart of the problem: A capitalist economy can't be fixed with socialist ideals.

Jonathan Hoenig

"Why not 4 Trillion instead? All you have to do is turn up the speed of the printers at the Treasury/mint. Let's go boys!!!!"
If that were possible I'm sure the Federal Reserve would do it. However, monetary theory and empirical evidence fully support that 4 trillion is unattainble. The most they could get from seignorage (the revenue you get from printing money) is 17% of GDP. Which is actually about 2 trillion, so were almost up there, 1.4 trillion this year.

You have lost my vote Coleman.