Why did the bailout fail??

[Nala56]

Pelosi Should Be Ashamed Of Herself

What he said!!!

 

[just4today]

Banks make lots and lots of money from people with good credit. Someone will lend them the money.

Don't they have to have the money first before they can lend it out?

 

[Davey48]

Pelosi Should Be Ashamed Of Herself

ABSOLUTELY!! SHE LACKS LEADERSHIP & INTEGRITY!!! SHE IS A SOCIALIST LIVING IN A DEMOCRATIC SOCIETY!! NO LEADERSHIP!! NONE!!

 

[DawnCt1]

ABSOLUTELY!! SHE LACKS LEADERSHIP & INTEGRITY!!! SHE IS A SOCIALIST LIVING IN A DEMOCRATIC SOCIETY!! NO LEADERSHIP!! NONE!!

Without a doubt. Her horrendous speech following the debate, blaming Republicans and President Bush for the mess that the democrats created in Fannie Mae and Freddie Mac was outrageous. Its bad enough that they haven't accepted responsibility for it, but to lay the blame where it does NOT belong is beyond the pale. I heard Chris Shays, Ct R appeal to the democrats during the 2004 Fannie Mae hearings, when the regulator was ringing the alarm bells, and the dems were in complete denial; Frank, Waters, et al. I called Shays office today and said that I would like them to be reminded of their role if this is to go forward. I would like Frank fired from his committee in the House and Dodd to go as well.

 

[Disneycrazymom]

I think it is important that 92 Dems didn't vote along party lines. Our rep is on the banking committee (dem) and voted no. It is very possible this was a bad bill and many knew it. I say good for them to stand up.

 

[SteveInBrooklyn]

Without a doubt. Her horrendous speech following the debate, blaming Republicans and President Bush for the mess that the democrats created in Fannie Mae and Freddie Mac was outrageous. Its bad enough that they haven't accepted responsibility for it, but to lay the blame where it does NOT belong is beyond the pale.

What happened to "Country First"? Republicans got blamed by Pelosi so they put the entire economy of the United States at risk??????? SHAME!!!!!

 

[Brianne]

I'm sorry but the everday average American does not understand why the bailout has to happens. It needs to be explained in everyday average words and not by an elected representative. We need someone to be on the television stressing why this is so important. The avereage hourly worker more than likely does not understand how this will trickle down to him/her.

They really won't understand until the house is lost, jobs are scarce, or retirement accounts are at zero.

I'm disgusted with every elected member of congress and our president that we are even in this predictament. At one time when our elected members could work together for the greater good of this country and neither side could past their petty partisan issues to do what was needed. I think it shouts volumes about our elected officials.

Truer words could not be spoken. I've been following this the whole time and I'm still confused by so much of it!

Playing the blame game is stupid and is going to get us nowhere. "It's the Democrats' fault!" "It's the Republicans' fault!" "Bush!" "Pelosi!" "Paulson!" Blah blah blah.

I expect to see these arguments and antics on an elementary school playground; NOT in my freaking government! They all need to grow up and get this damn problem solved, period.

 

[Piglets Mommy]

Truer words could not be spoken. I've been following this the whole time and I'm still confused by so much of it!

Playing the blame game is stupid and is going to get us nowhere. "It's the Democrats' fault!" "It's the Republicans' fault!" "Bush!" "Pelosi!" "Paulson!" Blah blah blah.

I expect to see these arguments and antics on an elementary school playground; NOT in my freaking government! They all need to grow up and get this damn problem solved, period.

Amen!

 

[SundancePass]

I totally agree with the previous post. And isn't it about time we stop the name calling from and to everyone! It makes not one iota of difference what party any of our elected officials belongs to at the moment. Somehow, some way this group needs to put their collective heads together and get it done, whatever "it" needs to be.

I totally believe Warren Buffet! I personally wish he were in charge of the whole mess right now. He does not invest in "bad" companies and I totally believe he has the wisdom to get us on the right road out.

I do not have such high hopes for ANY of our elected officials. ALL of them in the past 20 years got us into this with deregulation of everything. Now we have the other side of the pendulum(?) swing.

I own my own company and have for 8 years. Worked in corporate America for 22 before that. I have NEVER seen anything this frightening in my life!

It might have been a bad bill. If it was, I say congratulations to those who finally, IMO, got a spine and stood up and said "no". I now however, wonder what their idea(s) might be.

I just wish this group of states weren't SO DIVIDED along party lines that hardly anyone can read something without blasting a member of Congress, our President (and I don't agree with him on anything) or anyone else. Remember during the Depression, the WPA and the CCC PAID citizens to improve roads, sidewalks, build public buildings, and make our National Parks (or most of them) what they are today. It could, and maybe shoud, happen again. Have roads and bridges rebuilt by those who need jobs.

Enough of my rant. I hope our economy doesn't tank.

 

[moburg]

I know its no fault of terrorists, but wasn't this what they tried to accomplish back on 9-11, to cripple our economy. Perhaps our politicians should have been watching things a little more closely on the home front. Looks like the terrorists may have succeeded after all.

This crisis has little if anything to do with anything the terrorists did. This was done to us by Congress and the President, and I don't necessarily mean the current ones, although many have been around long enough to have proverbial blood on their hands.

http://www.youtube.com/watch?v=NU6fuFrdCJY

 

[DawnCt1]

What happened to "Country First"? Republicans got blamed by Pelosi so they put the entire economy of the United States at risk??????? SHAME!!!!!

Not everyone believes that this is in the best interest of the country. We are "here" because the free market wasn't allowed to work. Maxine Waters was extolling the wonders of Franklin Reigns, "Its wonderful that we have desk top underwriting and 100% loans"! Simplify the bill. Lend the treasury the money and return all of the proceeds and profits to the taxpayer; not to labor groups, not to ACORN, not to some bogus "housing authority" but to the people who have to pay the bill. The country is the taxpayer!

 

[moburg]

What happened to "Country First"? Republicans got blamed by Pelosi so they put the entire economy of the United States at risk??????? SHAME!!!!!

It couldn't possibly be that those voting NO (both parties) thought that the bill would have been bad for the country, could it? Nah, must be that both the dems and reps who voted no had partisan reasons. Just has to be.

 

[moburg]

Not everyone believes that this is in the best interest of the country. We are "here" because the free market wasn't allowed to work. Maxine Waters was extolling the wonders of Franklin Reigns, "Its wonderful that we have desk top underwriting and 100% loans"! Simplify the bill. Lend the treasury the money and return all of the proceeds and profits to the taxpayer; not to labor groups, not to ACORN, not to some bogus "housing authority" but to the people who have to pay the bill. The country is the taxpayer!

 

[Family Fun Mom]

What happened to "Country First"? Republicans got blamed by Pelosi so they put the entire economy of the United States at risk??????? SHAME!!!!!

But 40% of the Democrats voted no, too. Shouldn't they be just as ashamed? Sorry, you cannot blame just one party here. In this case we can say our government failed our country, both parties failed. I'm not just talking about what happened today, the failure goes back more than a decade.

 

[rie'smom]

92 democrats voted against it as well. That's about 40% of them.

I think it is important that 92 Dems didn't vote along party lines. Our rep is on the banking committee (dem) and voted no. It is very possible this was a bad bill and many knew it. I say good for them to stand up.

95 Democrats voted against. I saw the numbers a few minutes ago. There's no need to panic. The issue will be addressed. Just by voting no on a bad bill gives me hope that a few calmer heads prevailed today.

 

[DawnCt1]

95 Democrats voted against. I saw the numbers a few minutes ago. There's no need to panic. The issue will be addressed. Just by voting no on a bad bill gives me hope that a few calmer heads prevailed today.

Agreed! I have a big problem with these "deadlines". Kind of reminds me of the salesman who says, "I can give you this great deal today and today only". My response has always been, "if its a good deal today, it may be a better deal tomorrow.".

 

[BriarfoxinWA]

I saw this editorial on CNN and I'm inclined to agree. (and I'm employed by a Bank)

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

 

[famofsix]

its a bipartisan failure but there has got to be another solution.

Make the greedy porkers pay who got us in this mess not me. I live within my means.

 

[MossMan]

Agreed! I have a big problem with these "deadlines". Kind of reminds me of the salesman who says, "I can give you this great deal today and today only". My response has always been, "if its a good deal today, it may be a better deal tomorrow.".

Does anyone posting here understand this was a GOP bill. This was a bill put forward by the President. This was his solution. Does anyone remember that Bush is a Republican? Bush brought the bill to Congress.

Then Congress (both Republicans and Democrats) negotiated with the Republican administration and came up with a final agreement. It was the Democrats who were being asked to step across the aisle and support a Republican President. The Democrats are the ones being asked to show bipartisanship to deliver a solution.

Guess what, the Democrats did just that. They supported the President and they delivered their votes.

But even when Democrats support a Republican President and give him the votes he asks for, it is still the fault of the Democrats. How is this even possible? If the Democrats don't support the bill, it's their fault. If Democrats do support the bill, it's their fault.

The new slogan for the Republicans should be: It's Never Our Fault

I hope everyone watched Barney Frank's response to this absolute nonsense.

The idea that Republicans would stop supporting the bill because Pelosi made a nasty speech is ridiculous. Are we talking about children here? The problem was this bill did not have the support. It should never have come to the floor for a vote in the first place. If you want blame Pelosi for that, go ahead. But remember, she delivered 60% of her members for a GOP bill.

 

[marybet]

But 40% of the Democrats voted no, too. Shouldn't they be just as ashamed? Sorry, you cannot blame just one party here. In this case we can say our government failed our country, both parties failed. I'm not just talking about what happened today, the failure goes back more than a decade.

In order for the country to get behind this bill it has to be bipartisan, that means 50 -50. The deal was that each party would have half their members vote for the bill. The Democrats delivered, the Republicans did not.

McCain thought the bill was going to pass, he said so in a speech on the campaign trail. He got it wrong, his leadership failed. He suspended his campaign and still did not get a deal.