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BAILOUT REJECTED
House Votes ‘No,’ 228-205; Stocks Plunge
Dow 10,569.74 -573.39 (-5.15%)
Nasdaq 2,041.38 -141.96 (-6.50%)
S&P 500 1,132.87 -80.14 (-6.61%)
at 3.07 p.m. Eastern Time.
If, as seems increasingly likely, we are in for an economic crunch equivalent to that of the Great Depression, today is going into the history books.
Come on, Government – govern!
UPDATE 3.26 pm. ET
Dow 10,433.86 -709.27 (-6.37%)
Nasdaq 2,009.61 -173.73 (-7.96%)
S&P 500 1,115.27 -97.74 (-8.06%)
2nd UPDATE – closing
Dow 10,365.45 -777.68 (-6.98%)
Nasdaq 1,983.73 -199.61 (-9.14%)
S&P 500 1,106.92 -106.09 (-8.75%)
Here's the roll call, incidentally. You can see how your representation voted.
Me neither. We are paying the price not only for the greed of the few but also for the economic ignorance of the many. The many will soon be paying their price acutely as their retirement savings and their jobs disappear. 😦
An historic day indeed. It is terrible what could happen… but on the other had, we had to become responsible at some point. It is just sad that it had to come to thise.
Mine, Rep. Wm. Lacy Clay voted no. He's getting an e-mail from me.
At least there's lots of good finger-pointing going on. Luckily, there's plenty of blame to go around.Will this submarine McCain's candidacy? He "suspended" his campaign to resulve this thing, but didn't. He left the race to return to Washington to "offer leadership." I think this is way worse for Mccain than Obama. And way, way worse for America (and the world) than for either candidate.
so much for bipartisan voting!!!! :(I am listening to the financial market on Bloomberg and the news on CNN at the same time,I don't know if I will be able to last till sundown….
"we had to become responsible at some point. It is just sad that it had to come to this"yes,by voting the right President after we become informed and after we think !! 😦
Trouble is, there's hardly anyone alive who really remembers the Great Depression. Without that memory, people have no idea what is coming down the line. It could be very grim indeed. With no credit available in the markets, businesses are going to fail left, right and center. Welcome to the world of mass unemployment once again.I really hope this is avoided but it's not looking at all hopeful at the moment.
I've been watching CNN. At one point, I called my ex. Believe it or not, he's my financial adviser with regards to my retirement money. I asked him how's my investments holding up. He jokingly said I was wiped out and penniless. So I jokingly said I guess I have to sell my house and move back in. At that, he stopped with the jokes. He's lost a small fortune but then he invests in more risky things. He still has a fortune. I've lost some but I made sure he kept my money in more stable companies but those are down too. He said to sit tight for six months.
Mine, Baron Hill, voted yes. five of Indiana's nine representatives voted "nay," and it's divided without much regard for party.How the hell did they let it go to a vote, when there was not concensus. I mean, it wasn't even close!
I think it's going to take a lot longer than 6 months for this to wash, alas, PainterWoman. I'm readying my camera for working with the new Farm Security Administration equivalent once my scientific funding runs out!
Angliki – you are right. 😦
Just found out that all eight members from Arizona voted NO.
the latestthe Dow is now -777 :eyes:who ever thinks this is not serious business he/she is not living the reality :(it is the first time in the history in Wall Street to ever be this low !Every American has to hear about it, and know about it! Mutual funds ,retirement plans, college loans 😥 ,everything is changing as we speak…American Life changes effective today 😦
Here is something to watch just to lighten the mood. The faces this little girl is making is probably much like the faces of many Americans as everything crumbles. It's from Henry's blog: http://my.opera.com/AOTEAROAnz/blog/2008/09/29/hahaha-beatbox-sweatheart-love-it?cid=6126019
😆 Thank you, PainterWoman! That was a treat.
the nerve the Republicans have to try the new rumors,According to Wolf on CNN they are spreading that "Democrats gave too much emphasis on the political side than the economical problems,that's the reason that the Bailout Bill failed."They do not admit that they came short by 12 votes for passing the bill ….As for Palin that will be next to a 72 year old man and a breath away from the Presidency, I am sure she is pulling her hair to understand what is going on…If you did watch the Katie Couric/Palin interview the woman has no idea of what she is into …I will start praying for McCains' health 3 times a day if he is elected…
Well, I just e-mailed and snail-mailed my Congressman. He better get with it quick.
😆 Me too…
It's interesting how it turned out and all… with the two parties not really splitting like usual… that is, with Bush wanting it, and then some Republicans voting against it, and some Democrats voting for it, and then McCain and Obama both supporting it, and the American public being mostly against it… and if I have any of that wrong or it's changed since I last checked, feel free to correct me, because I'm too dizzy right now to go back and check myself.