Author Topic: You Ain't Seen Nuthin Yet  (Read 432 times)

Offline Mandie

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You Ain't Seen Nuthin Yet
« on: September 29, 2008, 08:31:28 pm »
http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes

Bailout bill fails; Dow plunges
The House of Representatives today rejected a $700 billion plan to bail out the U.S. financial system, putting a roadblock in front of the largest government intervention in the markets since the Great Depression. The next steps were not clear, but supporters were scrambling to salvage the package. The Dow was down more than 600 points after the voting ended

Offline Devlyn, the special edition

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Re: You Ain't Seen Nuthin Yet
« Reply #1 on: September 29, 2008, 09:15:47 pm »
I knew it! Manhattan should have remained Dutch!

Seriously though, I'm still not sure whether this is good or bad at this point.
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Offline Julius

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Re: You Ain't Seen Nuthin Yet
« Reply #2 on: September 29, 2008, 10:58:36 pm »
Er, bad, for us. After all, it's not our taxes and government funds, Devlyn... :p
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Offline Kat

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Re: You Ain't Seen Nuthin Yet
« Reply #3 on: September 29, 2008, 11:11:00 pm »
I can't believe they rejected the bailout.  I know it's bad politics right now, but are they trying to start another Great Depression?  Hopefully the grandstanding is just temporary and they'll get something passed soon.
"If those 40 million babies had lived, there wouldn’t be so many jobs for illegals to steal from Americans!"   -www.fstdt.com

Offline The new Olli (with hair)

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Re: You Ain't Seen Nuthin Yet
« Reply #4 on: September 30, 2008, 02:04:40 am »
They'll fix whatever they didn't like and send it through. It's a done deal, but right now it's just political posturing.
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Offline Devlyn, the special edition

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Re: You Ain't Seen Nuthin Yet
« Reply #5 on: September 30, 2008, 07:40:37 am »
I don't get it why stupid banks should be protected from bankruptcy. Why not protect the smarter banks that have not been involved, and provide compensation to the people that will fall victim to these toppling banks?
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Offline Kat

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Re: You Ain't Seen Nuthin Yet
« Reply #6 on: September 30, 2008, 05:13:40 pm »
Because it's not only a question of stupid and smart, unless you consider every investment bank out there "stupid".  People want to see Wall Street punished; fine, you got your wish.  Most executives (and a great many low level employees) are paid in stocks of their company; when the company fails, the executive loses the vast majority of his or her fortune.  What I don't get is when the world is going to realize that that Wall Street already got its comeuppance; it's time to stop calling for blood and start thinking productively.

The problem is that the shareholders in these companies are not business tycoons, they're us.  It's us who won't be able to get a mortgage, us with small businesses unable to take out loans, us who will see the life savings we'd thought we'd wisely invested dwindle away overnight.  What do you think is going to happen if the crisis continues to the point where credit card companies shut down?

It makes me furious to listen to lawmakers talk about how great it is that now every American can own a home one year, then turn around and blame Wall Street for bad mortgages the year after.  They're the ones who pushed to allow Americans with bad credit to be eligible for loans, but when they can't pay them it's Wall Street's fault?  Hypocritical shitheads.
"If those 40 million babies had lived, there wouldn’t be so many jobs for illegals to steal from Americans!"   -www.fstdt.com

Offline Rick

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Re: You Ain't Seen Nuthin Yet
« Reply #7 on: September 30, 2008, 05:35:02 pm »
life savings aren't smart anyway. Not to mention, that those that had eyes in their head should have seen this coming and made a smooth profit off it.

Either the market heals itself or it'll just fester along.
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Offline Ebert Von Snappenhausen

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Re: You Ain't Seen Nuthin Yet
« Reply #8 on: October 01, 2008, 07:54:58 am »
The time of the Chinese will come, oh yes it will come.

How's your mandarin nowadays? I'm sure people over here are waking up, smelling the noodles and learning it as fast as they can. First class, learning to beg for a job.
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Offline Kat

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Re: You Ain't Seen Nuthin Yet
« Reply #9 on: October 02, 2008, 05:31:34 am »
They passed the sucker.  About time.
"If those 40 million babies had lived, there wouldn’t be so many jobs for illegals to steal from Americans!"   -www.fstdt.com

Offline Devlyn, the special edition

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Re: You Ain't Seen Nuthin Yet
« Reply #10 on: October 02, 2008, 07:28:41 am »
Through the Senate that is.. Friday will be the real test :).
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Offline Thin

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Re: You Ain't Seen Nuthin Yet
« Reply #12 on: October 06, 2008, 11:45:28 pm »
Todays headlines are something along the lines of "Bailout bill passes, dow still plummets"

Offline Mattias

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Re: You Ain't Seen Nuthin Yet
« Reply #13 on: October 07, 2008, 11:16:55 am »
This clip from 2006 is pretty interesting...
http://www.youtube.com/watch?v=LfascZSTU4o

Offline Julius

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Re: You Ain't Seen Nuthin Yet
« Reply #14 on: October 07, 2008, 11:34:21 am »
lulz... he owes a penny...


And someone needs to punch that arrogant fuck.

Even better, the closing line from Schiff: "...all you're going to be worth is a penny!"
« Last Edit: October 07, 2008, 11:40:01 am by Julius »
Any sufficiently advanced technology is indistinguishable from magic.
- Arthur C. Clarke
God to Earth: “Cry more, noobs!”
- Marc Laidlaw

Offline Kat

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Re: You Ain't Seen Nuthin Yet
« Reply #15 on: October 08, 2008, 06:00:28 am »
Palin and gamin', a match made in heaven.

A few of my favorites:



"If those 40 million babies had lived, there wouldn’t be so many jobs for illegals to steal from Americans!"   -www.fstdt.com