Bailout bill fails in the House

[neromir]

Well, I'd just like to say: I'm disgusted with Congress. Why? Because we're faced with a huge national economic crisis, and neither group can stop pointing fingers at the other one. I have to say, though, that out of all the people that have screwed up, there, Speaker Nancy Pelosi is really high up on my do-not-like list right now.

Why, why,

Comments

[iamzuul]

Amen.

[chibi_brooke]

I think the 10-year-olds would be quicker to realize it's a stupid idea to give money to people who have already proven inept at managing it. I think the business/financial world is full of greedy irresponsible whiners, and now they're getting their come-uppance for making BAD LOANS to people who didn't deserve them in the first place (high risk=high return, right? wrong!) So why should we bail THEM out? Let the markets correct themselves. Sure, it will be hell for a while, but isn't that part of the repentance process?

Socialism isn't the answer. It benefits the stupid and lazy.

[neromir]

I partially agree with your point-- in fact, I'm not sure whether I'm in favor of the bail out or not. Personally, I don't want to be paying for other people's bad investment decisions (or idiocy, as the case may be), but on the other hand, I've got a lot of money to lose if we go into a depression.

In any case, this rant is more about the utter stupidity apparent in Congress. In the face of something as important as this, instead of having a decent discussion, many of them resort to finger pointing and whining about who-did-what wrong.

[chibi_brooke]

I was surprised that only 40% of Democrats voted it down and over 60% of Republicans did. I thought it would be the other way around. I'm concerned about people who are going to need to sell their homes in the future, and I'm concerned about people who have had their savings wiped out and need to retire in the moderately near future. I'm not sure how this whole thing is going to play out, but if it's going to be ugly ..... I hope they figure out a way to take care of the people who truly need the help. The rest of us (us young 'uns) will be able to ride it out, but other people are short on time and resources.

[neromir]

Yeah, that's true. As I was thinking the other day, the plus side to all of this is that the stock market is likely to eventually recover before I really need the money I've got in it.

On the other hand, I really hope this doesn't get so bad that I won't be able to find a job when I finish my Masters degree in another year and a half.

But yeah-- definitely going to be ugly.