Bailout bill fails

The Chosen One Posts : 9446 Registration date : 2008-01-30

Turns out the $700 billion plan to bail out the U.S. financial system was rejected. The Dow was down more than 500 points after the voting ended. House Minority Leader John Boehner says the chamber will not vote again today, and lawmakers wasted "no time in pointing fingers" Haha right, Democrats and Republicans on Capitol Hill immediately blamed each other for the failure of a $700 billion bailout package in the House on Monday.

Weren't they accepting the whole package thing a few days ago? What happened? Why not just take those $700 billion and give each person in the U.S a few millions here and there? :P

I'm still confused about the whole Banks fall thingy, anyone care to explain? Or is it that history repeats itself? D:

Super-Human Posts : 3179 Registration date : 2008-01-26

A) The $700 bln would have to come from US taxpayers
B) It was rejected because it was too expensive, mainly.

And, also, now everyone will be worse off, because all the banks will go down and no-one will have any money left anyway.

Forum Legend Posts : 6186 Registration date : 2008-07-07

Heres a great link:

http://blogs.wsj.com/developments/2008/04/22/yales-shiller-us-housing-slump-may-exceed-great-depression/.

Its very hard to explain but people on Capital hill have no Clue what there doing. It all started with the Housing Market started to fall.

The Chosen One Posts : 9446 Registration date : 2008-01-30

Ouch, that's harsh..

Great depression all over again? No money? That's really really unexpected. D:

And wasn't China or whatever gonna lend the U.S all that money? Wasn't Bush supposed to HATE China because they want to kill, destroy, repeat America. :P

Subject: Re: Bailout bill fails September 29th 2008, 5:09 pm

Hurray, we're going into The Great Depression 2! :oops:

Super-Human Posts : 3179 Registration date : 2008-01-26

Down 748.2 points! Worst point decline ever! Woohoo! :D

XD

Forum Legend Posts : 6186 Registration date : 2008-07-07

Bloody Tomato wrote:: Ouch, that's harsh..

Great depression all over again? No money? That's really really unexpected. D:

And wasn't China or whatever gonna lend the U.S all that money? Wasn't Bush supposed to HATE China because they want to kill, destroy, repeat America. :P

People will lose there jobs. Youy will find people living on the Street. If they don't fix this up then we will be falling into the Great Depression 2 as what Chao said.

Subject: Re: Bailout bill fails September 29th 2008, 5:28 pm

Ooh yeah, it caused that big fall on the stock market. Losing 700 points after the vote, what a blow!

Super-Human Posts : 3179 Registration date : 2008-01-26

Argie wrote:: Ooh yeah, it caused that big fall on the stock market. Losing 700 points after the vote, what a blow!

777 points-ish, actually :P

Subject: Re: Bailout bill fails September 29th 2008, 6:17 pm

Ghost Chao wrote:: Hurray, we're going into The Great Depression 2! :oops:

Gee welcome to many months ago, Chao, glad you guys have all decided to catch on to this economic depression that has been going for a while.

Guest

Stupid banks give loans to people who can't afford them..foreclosure..God this is hard.

» my epic fails
» Reasons Planet Cazmo fails.