Senate Sets Bank-Rescue Vote, House May Act Friday

Originally posted by jefwane
Well the futures seem rather unimpressed by the Senate passing this bill. As a matter of fact there is a nice little dump right after it passed on both the S&P and DOW futures. Could be nothing and work itself out by morning though.

I will laugh, I mean truly laugh if this thing passes and the market tanks anyway. Especially if it happens before the election.

I haven't found anything in this bill that requires recipients of taxpayer funded bailouts to resume lending. It does little to nothing to remedy the lack of trust between institutions ( as is most readily gauged by things like LIBOR and the TED spread).

Well, I believe the markets will not really care until it truly passes. Plus once it passes who knows what will happen, at least someone of my *knowledge (*which I believe I would compose the majority of the USA) has no clue. I have heard (*disclosure) many believe the DJIA will plummet yet to 7500.

It still has the Congress to go this friday. I have a feeling that friday in the PM after markets are all closed a calculated time to "vote" on this bill in Congress. Week-ends are a great time for big institutions to start monday's off with a "bang". I would not be surprised to see a huge dump monday morning before the "retail" shareholders get a chance to jump ship. All my humble opinion, and hope to all that is good that it will not happen.

reply to post by Maxmars


lol..

Our forefathers had backbone.

We don't.

My self included. I am safe at my house, with a beer, typing away. Where are the demonstrations? The honorable men standing up and demanding and end to injustice? The poetically inclined men who could charge the hearts and minds of the peoples?

They are sitting at their computers, with a beer, safe in their house.

No back bone. My self included.

reply to post by Rockpuck


Ouch. So painfully true.

But, history does repeat itself.
And sometimes, things change.

But I don't feel it in my spine either.
Ugh! That marks a moment for a smoke.

... and me trying to quit.

reply to post by Rockpuck


True....we talk a good game. And, the world would probably be a better place if the common folks like us ran it.

But, will we (the majority of us)? No. Even try, for the most part? No.

Could we (would we be allowed to)? Hell no....

We do our part though. We vote against the yahoos, we speak out, we engage in intelligent debates here (in the safety of the 'net), and we flood the House and our representatives with e-mails and phone calls voicing our disdain for what they are doing with this bill.

But, we here are in the minority. Most folks are complacent and just let things like this roll by them.....thinking it will never effect them at all. It's sad.

reply to post by skeptic1


All kidding aside, sometimes I wonder if its true that societies can be controlled by things like media and fluorides. Our (societies) complacency at times is astounding (and kind of embarrassing).

Democracy is dead, the US government has betrayed it's people
welcome to hyperinflation
and the beginning of a "new depression"

[edit on 1-10-2008 by all2human]

Originally posted by Rockpuck
They are sitting at their computers, with a beer, safe in their house.

No back bone. My self included.

The only thing any single back bone can do is *BREAK* - from a moment of uncontrolled rage, resulting in a very stupid action, resulting in a very needless law enforcement induced death. But said back bone need not necessarily be empty of courageous marrow, for there is strength in popular outrage, strength in information, strength in patience, and deep contempt brewing with furious restraint.

reply to post by Maxmars


Of course it can. I am still on the fence about the whole fluoride thing, but as to the media....sure it shapes what we think and quasi-controls us (to a point).

Take the bailout bill....since that is what we are talking about.

How many people do you think watched news coverage of the bailout tonight? Of the people watching the coverage, how many watched one of the MS cable news channels (where they had coverage of tomorrow's VP debate while the Senate vote was happening) and how many watched CSPAN-2 where all there was was the vote and sounds and pictures of the Senate floor?

And....how many people didn't give a flying rat's hiney about the bailout bill and spent their evening watching the season premieres of Private Practice and Dirty Sexy Money?

For the most part, we have become a complacent society, with the attention span of fruit flies, more concerned with being entertained than being informed.

reply to post by LaoTzu


If I remember correctly, the House was supposed to recess for a few
weeks this past Friday. I'm sure they're eager to get back to their
districts and campaign for re-election. If they don't pass the bill this
coming Friday, they'll have to stay in Washington even longer.
Unfortunately, it probably will pass the House this week.

[edit on 2-10-2008 by son of PC]

www.bloomberg.com...

The measure gives Treasury Secretary Henry Paulson broad power to acquire assets from financial institutions saddled with troubled mortgage-backed securities. The plan also would limit executive compensation and provide oversight of the Treasury secretary's decisions.

So yeah, this one has oversight on the decisions made and limits executive compensation. I knew there was oversight on this thing. During the congressional hearing last week they made it clear that the bill wouldn't stand a chance without some form of congressional oversight so that was put in there.

Originally posted by anachryon
The NO votes:

Allard, Wayne
Brownback, Sam
Bunning, Jim
Cantwell, Maria
Cochran, Thad
Crapo, Mike
DeMint, Jim
Dole, Elizabeth
Dorgan, Byron
Enzi, Mike
Feingold, Russ
Inhofe, Jim
Johnson, Tim
Landrieu, Mary
Nelson, Bill
Roberts, Pat
Sanders, Bernie
Sessions, Jeff
Shelby, Richard
Stabenow, Debbie
Tester, Jon
Vitter, David
Wicker, Roger
Wyden, Ron


Vote every other Senator out of office.

You do realise that all of the Reps and Sentors who voted against this will be ran outta politics by both parties they are gonna do everything they can to get rid of them.

Our Declaration of Independence, in the Second Paragraph states that:

We citizens have a right; to throw out any government in power, “That”; gives us our inalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness, well so much for happiness? Anyway Life, and Liberty, so Happiness is a state of mind.



The Declaration of Independence say’s:

“That when in the course of human Events; it becomes necessary for one people to dissolve the political bands which have connected them with one another, to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation. We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these Life, Liberty, and the pursuit of Happiness. That to secure these Rights, Governments are instituted among Men, derive their just powers from the consent of the “Governed”(that’s us),



“That whenever any Forms of Government becomes destructive of these ends, it is the right of the people (that’s us) to alter, or to abolish it, and to institute new Government”.

Are we going to have to do that, to return power to the people of this nation?



It’s not our Constitution that is wrong, just those in power; that has twisted our Constitutional rights.Here's the answer to this situation folks.

To force change in the US you do not need backbone, you need patriotism.

But its hard to be a patriot, when your country has succumbed so easily to these criminals.

I still read now n then how the french are labeled weak because of their surrender in WW2... Is today any different?

reply to post by Agit8dChop
Not at all,we surrendered to the international bankers and the nwo tonite the vote in the House will be a formality...

Yes it is different, people-en masse-don't know what's happening. We're not being invaded by an outside force, we're being lied to by our own child; and like most parents the people don't want to admit it. The government is our child, if you look at it like that it becomes clear what we have to do. Don't fear this machine, it feeds off of fear; if you've read Mien Kampf you'll know exactly how this works.

Inhofe, Jim
My senator voted no, go Oklahoma.


I'm going to go outside and chill out for a little while, breathe a little bit and prepare for anything. If this is the last we have left of this common life of complacency, enjoy it because the next few years will be hard.
Even though I doubt it will come to the streets.

And the reason a founding fathers style revolution wont work is because of the mass media. Too much programming on at all times of the day, very very few people are good enough speakers to combat anything that powerful. I'm sure none of us are. Just educate yourself and anyone who will listen, be an example for people. Stay alive, and live your life to its fullest. Live for a purpose.
Learn to purify your water!

[edit on 2-10-2008 by Mr Headshot]

Ok so the Senate picks up the house bill throws some lipstick on it to make it more attractive to the house and are sending it to them to vote Friday. and they have to vote on the bill as is they cannot change it in anyway.

The majority of the American taxpayers are against bailing out the fat cats on wall street and that's what this bill is a bail out not a rescue. the taxpayers taking all the risk and the fat cats getting the payoffs

No independent witnesses called, all negotiations done in secret, Republicans in the house that proposed different ideas in the meetings throw out of the meetings.

400 of the top economists told congress not to rush this bill, this bill was not necessary, so they ignore the american people 400 economists and the senate passes it anyway.

And then we have some people on this board saying this is a good thing. they want a fascist take over of the country something stinks here on ATS worse than this bill.

Yes there was a time limit on this bill 2 years cut down to 18 months from its passage. But haven't we been bitten by the "oh this bill will expire" BS before. remember the Patriot act. yeah parts of that bill were set to expire and what happened congress voted to extend it. It is going to take more than 2 years for the banks to recover from this even if the Treasury buys the bad assets. eventually those assets have to be sold back to the banks.

So what happens when this fascist take over bill comes to expire and the assets are still sitting on the treasury books. congress will have to extend this bill and they will keep extending it as long as the fed holds the assets.

The government oversight proposed by this bill is a F***ing Joke. Congress will not follow through with the oversight, they will pawn it off on a 3rd party to regulate this deal who will in turn be bribed by the bankers to turn a blind eye once again.

Seriously people no one has learned a damn thing This bill will not help us it will only straddle us with even more debt, the CEO's will continue on as if nothing happened. Congress will get their nice fat paycheck for screwing over the taxpayers. The party's over and when the lights come back on it will be the taxpayers holding the bag. not the people responsible for this mess



[edit on 10/2/2008 by Mercenary2007]

A very good video that tells more truth about this bill than our politicians who never even read it have.

www.youtube.com...

Share it, it's important we get the news out to the people who aren't paying attention

reply to post by Mercenary2007
very ture,man Wall Street threatend to withhold their contributions and Congress freaked,This my friends has been premeditated from the start don't buy into the BS on how we need to be united they are now gonna accuse those of us against this scam as unpatriotic and everything else under the sun.

I realize that I risk sounding ignorant here but I am still really confused at how the house could vote this down and then the senate picks it up, changes it a bit and pushes it through. The senate didn't vote first on the last failed bailout bill, correct?

How can this happen? If the house said no, what right does the senate have to push it through after the fact? This seems really sleazy to me.