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House appears to reject massive bailout plan

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Pages: [1] 2

HoneyBadger
YourWorstNightmare.

Member since 10/06

15979 total posts

Name:
BahBahBlackJeep

House appears to reject massive bailout plan

Debate prior to balloting showed deep reservations about $700 billion plan.

BREAKING NEWS

updated 1 minute ago
WASHINGTON - The House of Representatives seemingly rejected a $700 billion bailout today following extended debate where many members, including some who brokered the deal with it, was highly unpopular.

The preliminary vote was 185-197. Members had a limited amount of time to change their votes. Following the deadline, the margin was growing for those opposed to the measure.

Even as the electronic roll call began, Democratic and Republican leaders were uncertain about having enough votes to pass the politically unpopular plan. It's the most sweeping government intervention in markets since the Great Depression.

The bailout puts in place an unprecedented federal program to buy up rotten assets from cash-starved firms. The goal is to free up choked credit that was threatening to cause broader market turmoil.

LINK TO FULL STORY

ETA: Update on Vote...

205 (y) - 228 (n)

Message edited 9/29/2008 2:08:19 PM.

Posted 9/29/08 1:56 PM
 
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LIMOMx2
...

Member since 5/05

24989 total posts

Name:

Re: House appears to reject massive bailout plan

This isn't goodChat Icon

Posted 9/29/08 2:02 PM
 

JRG71
*****************

Member since 5/05

5025 total posts

Name:

Re: House appears to reject massive bailout plan

It's a 3 ring circus outside - I think I need a drink. Chat Icon

Posted 9/29/08 2:09 PM
 

jms100303
Luv my munchkins

Member since 5/05

4789 total posts

Name:
Jennifer

Re: House appears to reject massive bailout plan

I just saw this, WOW!!!!!

Posted 9/29/08 2:09 PM
 

jms100303
Luv my munchkins

Member since 5/05

4789 total posts

Name:
Jennifer

Re: House appears to reject massive bailout plan

The dow is down 600 points now.

Posted 9/29/08 2:09 PM
 

HoneyBadger
YourWorstNightmare.

Member since 10/06

15979 total posts

Name:
BahBahBlackJeep

Re: House appears to reject massive bailout plan

Posted by JRG71

It's a 3 ring circus outside - I think I need a drink. Chat Icon



I can only imagine...

Posted 9/29/08 2:12 PM
 

doormouse
LIF Infant

Member since 5/05

155 total posts

Name:
Jen

Re: House appears to reject massive bailout plan

Ug. This is bad.

Posted 9/29/08 2:13 PM
 

DaniJude
You're My Home <3

Member since 11/06

14815 total posts

Name:
Danielle

Re: House appears to reject massive bailout plan

c'mon guys!!! work together!!!! pleeeeease!!! Chat Icon

Posted 9/29/08 2:14 PM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: House appears to reject massive bailout plan

Posted by jms100303

The dow is down 600 points now.



I know- I just checked

I am even getting worried now- and I was against the bail out before 5 minutes ago- now I want it

Posted 9/29/08 2:14 PM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: House appears to reject massive bailout plan

I don't even know how to feel about this.

All I know is, for everyone who's life will be effected by this (whoever's "fault" it may be) I am praying for you. Chat Icon Chat Icon Chat Icon

Posted 9/29/08 2:14 PM
 

Ginger123
Sooo happy

Member since 8/07

1235 total posts

Name:
dana

Re: House appears to reject massive bailout plan

this is so scary ,... who knows whats going to happen Chat Icon Chat Icon Chat Icon

dow down 500 Chat Icon

Posted 9/29/08 2:15 PM
 

metagefken
LIF Adolescent

Member since 5/08

679 total posts

Name:
J

Re: House appears to reject massive bailout plan

it was defeated 228-205. the DOW is down over 500 points and NASDAQ is down 6.7%. this is getting really ugly.

Posted 9/29/08 2:15 PM
 

kimbalina
Bring on the glitter and bows!

Member since 6/08

15158 total posts

Name:
Kim

Re: House appears to reject massive bailout plan

Can someone explain what happens if it is not approved.

Posted 9/29/08 2:16 PM
 

pinkandblue
Our family is complete, maybe

Member since 9/05

32436 total posts

Name:
Stephanie

Re: House appears to reject massive bailout plan

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon

Posted 9/29/08 2:21 PM
 

LIMOMx2
...

Member since 5/05

24989 total posts

Name:

Re: House appears to reject massive bailout plan

Posted by Mikismom

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon

I think I am going to throw upChat Icon

Posted 9/29/08 2:23 PM
 

CathyB

Member since 5/05

19403 total posts

Name:

Re: House appears to reject massive bailout plan

Posted by 5ofClubs

Posted by Mikismom

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon

I think I am going to throw upChat Icon



me too. this is awful. Chat Icon

Posted 9/29/08 2:24 PM
 

kimbalina
Bring on the glitter and bows!

Member since 6/08

15158 total posts

Name:
Kim

Re: House appears to reject massive bailout plan

Posted by Mikismom

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon



But I thought that if it passed, it will be passed on to all of us in our taxes?? Chat Icon

I feel out of the loop on this one.

Posted 9/29/08 2:24 PM
 

summerBaby10
let's be nice

Member since 9/07

10208 total posts

Name:
Wifey

Re: House appears to reject massive bailout plan

Posted by 5ofClubs

Posted by Mikismom

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon

I think I am going to throw upChat Icon


crap.. I was just thinking that.. my stomach is in knots.

Posted 9/29/08 2:24 PM
 

MST9106
My life:)

Member since 6/06

9589 total posts

Name:

Re: House appears to reject massive bailout plan

Tough times...buckle up...higher taxes, high unemployment, prices going up...

Posted 9/29/08 2:25 PM
 

pinkandblue
Our family is complete, maybe

Member since 9/05

32436 total posts

Name:
Stephanie

Re: House appears to reject massive bailout plan

Posted by kimbalina

Posted by Mikismom

Posted by kimbalina

Can someone explain what happens if it is not approved.



what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime

it is NOT GOOD Chat Icon



But I thought that if it passed, it will be passed on to all of us in our taxes?? Chat Icon

I feel out of the loop on this one.


we would not get any tax breaks if it was passed, IMHO a little bit of a tax increase is MUCH better than the alternative

I think this is a bill that NEEDED to be passed Chat Icon

Posted 9/29/08 2:25 PM
 

Blu-ize
Plan B is Now Plan A

Member since 7/05

32475 total posts

Name:
Susan

Re: House appears to reject massive bailout plan

it needs re-working. It's not right yet. It needs major tweaking. It's a ton of money and historical. It needs to be right and cannot be done in that short time.

It needs to be approved soon before we spiral further though.

Posted 9/29/08 2:26 PM
 

stickydust
Now a mommy of 2!!!

Member since 4/06

3164 total posts

Name:

Re: House appears to reject massive bailout plan

This is just scary, uncertain timesChat Icon

Posted 9/29/08 2:26 PM
 

HoneyBadger
YourWorstNightmare.

Member since 10/06

15979 total posts

Name:
BahBahBlackJeep

Re: House appears to reject massive bailout plan

According to the Dow Jones Indexes website the Dow has dropped 622.29 points, a 5.58% drop.

And I'd say this all happened in the matter of 20 or so minutes.

Unbelievable.

Posted 9/29/08 2:27 PM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: House appears to reject massive bailout plan

Posted by Jennie0898

According to the Dow Jones Indexes website the Dow has dropped 622.29 points, a 5.58% drop.

And I'd say this all happened in the matter of 20 or so minutes.

Unbelievable.



it was already down 300 points or so

I have been watching all afternoon

not that it makes it better

Posted 9/29/08 2:28 PM
 

CookiePuss
Cake from Outer Space!

Member since 5/05

14021 total posts

Name:

Re: House appears to reject massive bailout plan

Posted by kimbalina

Can someone explain what happens if it is not approved.



This will be also known as "Black Monday".

Posted 9/29/08 2:29 PM
 
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