Gil wrote on Sep 29, 2008 5:56 PM:What will tomorrow bring?

Still Smiling wrote on Sep 29, 2008 6:11 PM:I have a solid, low fixed rate mortgage and many diversified investments in retirement accounts, I didn't take out a big second to buy an RV, boat, toys, etc., and I didn't play the greed game buying real estate high thinking I would sell higher and that I was owed a big windfall. If you didn't do the same, you deserve what you get.

Why wrote on Sep 29, 2008 6:20 PM:Why did the plan go down, one reason is Barney Franks earmark of $54,000,000.00 to LA RAZA. He is an arrogant pig not willing to accept the will of the people of THIS COUNTRY.
Earmarks like this have to be posted on the front page for EVERYONE to see.

bob wrote on Sep 29, 2008 6:41 PM:Thank you to all the representatives that voted NO on this organized theft.

Oh brother wrote on Sep 29, 2008 6:56 PM:What a bunch of jerks. Where were your good ideas? That's right nowhere!

My stock market investments hit the tank! I am sickened by your lack of understanding for the middle class. Sick, sick, sick. You should all be fired from Congress!

Democrat Robert wrote on Sep 29, 2008 7:08 PM:This bill deserved a NO vote!!!! Good Job Filner, Issa and Bilbray... Davis is wrong on this socialist bailout!!

Scare Tactics wrote on Sep 29, 2008 7:52 PM:Seriously people don't fall for these scare tactics. We will survive this. This is only 3% of the loan market and a lot of this bail out money will go to foreign investors. Don't be fooled and remember the DEMOCRATS ARE TRYING TO ADD MORE $$ TO THIS BILL FOR MORE GOVERNMENT SPECIAL INTEREST GROUPS. NO. NO. NO. STOP TAXING US , DON'T TAX ME , MAN!

helena wrote on Sep 29, 2008 8:35 PM:so what if the market is down for now.i am against the bail out.why should I pay for the mistakes and greed of the pigs on wallstreet and the wellfare leeches on mainstreet.whatever happened to at least 20% down and no more then 20% of income for payments.

Dear Why wrote on Sep 29, 2008 8:45 PM:Difference between fantasy and fact is one really happened and one is just in your mind.

Quite a La Raza fantasy you concocted. I hear the democrats wanted to give millions to Big Foot Research and Alien civilizations. Oh wait the bailout bill had none of those things. It was about bailing out corrupt Republican CEO's.

The real reason the bilout went down to defeat is just what Republican leader Boener said. It is because Issa and Bilbray and other spoiled brat Republican babies got their precious feelings hurt and decided to take the ball and go home. That mean old Nancy Pelosi wasn't nice enough to them. She's a girl too. They don't have to take it from a girl.

So mature of them to put their hurt feelings ahead of the good of the country. So typical of their actions. What is good for themselves comes before country every time.

la costa resident wrote on Sep 29, 2008 9:26 PM:Thank you, thank you, thank you for voting this bill down. Please follow through in the upcoming days.

Will it be painful......YES!

This country needs to wash out excess and irresponsible financial actions!

I have no desire to spend my tax dollars rewarding Wall Streets nor Main Streets poor decissions. Whether it be taking out loans one is unable to pay back or giving loans to people who have no business receiving them, let this thing work it self out. We will all be better for it!

Ed wrote on Sep 29, 2008 9:26 PM:I knew the worst president and the most corrupt administration in our history had one more major effup left in them and they haven't disappointed...

Witness To The Fall Of The Republic wrote on Sep 29, 2008 9:37 PM:This bailout should be focused on the middle class. Those who may lose their home, have high interest loans, adjustable rate mortgages, and those with high credit card debt at criminally high rates. The gov’t needs to keep people in their homes with fixed rate low interest loans. This will in turn stop the decline of home prices and allow the middle class to pay down their debt. It will also help those who are credit responsible by keeping their homes from devaluing. This will also bail out the credit industry that got us into this mess by allowing the gov’t to take over those loans and freeing up credit. With this middle class bailout the gov't needs to regulate the credit industry and stop this industry from allowing credit to be given out to those who are not credit worthy. If we don’t do this then we will be sadly selling our sovereignty to china and the middle east.

Voter wrote on Sep 29, 2008 10:38 PM:How much you want to bet they repositioned their investments recently suspecting how bad things would get? I say vote them all out. Let's get somebody new because these people are accomplishing anything for us.

Roberto1 wrote on Sep 29, 2008 10:53 PM:Another reason to get rid of Darrell Issa...They make the republican party look more like the democrtic party. These power mongers won't get my vote.

Mike S. wrote on Sep 29, 2008 11:02 PM:I don't think anybody really knows what will happen. I think the people who are most confident that nothing bad will happen are the ones who know the least. These banks are run by a bunch of fat cats and we'd all like to see them suffer--but will they drag the rest of us down with them? How many employers depend upon short-term commercial paper to fund payroll? Who will be the first not to get a paycheck? The bankers, or you?

There's lots I don't like about the bailout, but I'm not sure I'm ready to really flourish in a barter-only economy. The present administration has cried wolf too often for us to trust them, but what if there really is a wolf at the door?

The Swindle wrote on Sep 29, 2008 11:12 PM:You can fool all of the people some of the time, and some of the people all of the time, but you cannot fool all of the people all of the time. The claims of a 'credit' crisis affecting the average American is way overblown! Instead, leveraged derivative markets and other ways to make money from doing nothing have seized up. Auto loans, credit cards, and the other credit instruments used by average Americans are widely available, and will continue for those who have the ability to repay the new debts. It is overleveraged segments of Wall Street, which needs cheap credit and leveraging to make big money, that is wanting a return to easy and cheap credit.

Floyd wrote on Sep 29, 2008 11:17 PM:The press is having a good time decrying the inter-party squabbling in Congress. What they aren't mentioning is that the representatives voted in accordance with the wishes of the voters (which is why we put them there).

Issa is all about money wrote on Sep 29, 2008 11:18 PM:Do you remember Issa was defeated his first run even though he spent MILLIONS of his own 'hard-earned pork barrel funds?" Millions more he pumped in to get the voters' attention with half-witted promises on fancy flyers. Good government job - good pension, benefits, celebrit status - all in his 'need' plan. Vote him and all the other cry-babies OUT OUT OUT!

Is there no one left to lead wrote on Sep 29, 2008 11:52 PM:Neither of our major political parties has the best interest of the American people in mind anymore. It’s been obvious that many Democrats have wanted the military to fail in Iraq for political reasons. We’ve come to expect that from the Democrats. Well, now it’s just as obvious that the Republicans want us to fail on Wall Street, showing as little regard for the working American as the Democrats have for our soldiers.

Not being content to merely look too stupid to see this disaster coming, now their trying to show the have nothing more than a Kindergartener’s understanding of who get’s hurt when a companies fail. Pontificating on corporate greed and taking the moral stand against bailing out the “fat cats”, the action today by the house Republicans shows just how shallow the gene pool is when it comes to breeding smart politicians.

When Enron failed, who got hurt? The greedy corporate fat cats, who’d already made their money, bailing out before the final fall, with their big houses and offshore bank accounts? Or the every day working stiffs who had put their hopes and dreams of a decent retirement into that company’s stock?

You see, it’s never the rich that get hurt when a company dies. They’re rich, so have resources to spare, and lawyers to protect them! It’s not the poor. They’re already poor, so have nothing to lose! You can pitch the politicians in with the rich. If they’re not rich going into congress, they’ll have plenty of connections, inside information, and “friends”, to do quite well for themselves.

That leaves who? Yes, the rest of us. The folks working 40+ hours a week to make ends meet. The ones that are trying to just get through, week after week, without having the entire house of cards tumble down around them. It’s the middle class, who, on average, have lost approximately 30% of their retirement since the beginning of the year. And if the pompous cluelessness of our politicians continues, they’ll stand to loose a lot more than that.

I guess maybe the Democrats are right about something. The Republicans don’t give a rat’s ass about me, my family, or anyone I know. While they’re fiddling, Rome is burning. I can smell the smoke from where I’m sitting, and so can a lot of others. But when you spend your time in smoke filled rooms, enjoying cigars with the “boys”, I guess it’s a little hard to tell when the house is actually on fire.

And I hope all the right-wing talk show hosts, pounding their chests, driving the ignorant to rebel, enjoy the bump in ratings. When we look back at this fiasco, when we look at what happened on the day the congress turned it’s back on people who elected them, we’ll all remember it was them that spread the lies, that told listeners we would be better off with a financial Armageddon, that it was “for our own good”. Your just as bad as the politicians themselves if you ask me.

WHEW wrote on Sep 30, 2008 12:26 AM:I work every day and live in a van to pay my debts. I'm glad I don't have to also foot the bill for the mistakes of millionaires. I'd be happy to tell these investment bankers how to do that. I would consult with them for free. What worries me is that so many people voted FOR this taxpayer exploitation plan!

Local wrote on Sep 30, 2008 3:32 AM:Just like amnesty (for illegals) we don't need to keep repeating the same mistakes over and over again. It's getting really old. No pain, no gain. Suck it up! Cry me a river. I live my life lean and mean. I have no pity. Deal.

To Dear Why wrote on Sep 30, 2008 3:41 AM:Get over it. You're wrong. This country can do better than these kneejerk, half-baked reactions. Take a break and reevaluate. Congress can't afford to appear even more stupid. We, the taxpayers, won't tolerate it!

We will all pay anyway wrote on Sep 30, 2008 4:06 AM:Thanks for nothing congressmen. With the bill at least there was congressional oversight; now without the bill, we are all going to have to pay anyway, some of us out from the losses in our 401k, others through higher interest rates, and all of through higher taxes. Thanks for dragging your feet republicans! 8 years and we went from surplus to deficit, growth to depression, and peace to war. ELECT OBAMA!

DeBunker wrote on Sep 30, 2008 4:27 AM:Thank you Bilbray, Issa & Hunter! Our country is $10 trillion in debt, this bailout would have put us over $11 trillion. If a recession is needed to break this debt bubble, so be it. Real Americans believe in a free market and can withstand a little pain.

To Dear Why wrote on Sep 30, 2008 4:29 AM:The public was massively AGAINST this bailout. Most congressmen reported calls running 300 - 1 AGAINST. Thank goodness some of our Representatives actually listen to the people they serve.

Its Barney Franks Fault wrote on Sep 30, 2008 6:01 AM:Finally, I figured out why Nancy is so busy pointing fingers, she is trying to hide the role of the Democrats in this mess. In 2004 Congress was warned by the government watchdogs that Freddy Mac and Fannie Mae was in big trouble. During the hearings Barney Frank and crew defended Freddy Mac and Fannie Mae and attacked the regulator. It is all captured on C-span video if anyone cares to look it up. Barney Frank and Nancy should resign. And just think, both the ex-heads of Freddy Mac and Fannie Mae are involved in the Obama campaign.

Economist wrote on Sep 30, 2008 6:34 AM:Set up a fund. suspend the capital gains tax for it. Money will pour in from all around the world. The sky is not falling. The Dow is way over valued anyway. They deregulated to turn the banks into gambling casinos just like the 20's. Now we need to unwind, re-regulate. Let the economies of the world slow ( what's the problem?) Invinite growth into the future is as unsustainable as invinite immagration.
The Gov. could make a lot of money on this is done right. ( yeah, like that'll ever happen) But Citi just bought Wachcovia retail for $1.00/share.
now that's a good buy.

American Independent wrote on Sep 30, 2008 6:37 AM:This whole thing is about credit...when the company you work for cant get credit to buy necessities and has to down size you will all be screaming for a bailout..this may be overly simplistic, but basically this is what's happening...I dont have a lot of money in the market, am still in my early 30's own a home with a 30 year fixed, work on a 4 year contract so I dont care what happens because I am conservative...I would like EVERYONE to see the outcome of this administrations policies once and for all though so we can stop hearing about this nonsense...Bush lovers...I laugh at you along with the rest of the world. You elected a man that sunk this nation in so many ways...

local osider wrote on Sep 30, 2008 6:44 AM:I think I remember hearing that the goal of the "terrorists" was to disrupt our economy... Has Bush really made us safer, or has he distracted everyone? The whole outlook for this president has been ridiculous! How many readers have gone along thinking that we are sooo much safer now then before 911... Face it republicans this DEVELOPED on your watch...As far as I can see the terrorists goal has been reached because this administration was myopic, and unwise.

This started wrote on Sep 30, 2008 6:46 AM:during the wonderful Carter era when him and Congress passed an act that focused on giving more minorities and low income folks credit to buy a house guarenteed by the government. It morphed into the private sector doing the same, after all it was guarenteed. Blame republicans all you want but BOTH parties are to blame. Thank goodness for our inept Speaker Pelosi who once again couldn't keep her mouth shut and lead. Raking the Repubs over the coals hours before the vote was very dumb. I guess what can you expect from the leader of the House with the lowest approval ratings ever.

This is a painful wrote on Sep 30, 2008 6:51 AM:experience but we can use it to grow. Time to trim goverment offices, depot illegals and definetly no free medical, which has costs us hospitals, and no schooling nor monetary or food assistance to any illegal. Time for all of us to start tightening the belt and learn to make do with what we have.

Get rid of wrote on Sep 30, 2008 6:52 AM:Pelosi, she is a joke!

To Witness to the fall of the republic wrote on Sep 30, 2008 6:54 AM:The government should never intervene when people make stupid decisions...the individual is 100% responsible when she/he 1) buys a house she/he can't afford when the interest rate goes up 2)runs up their credit card and then can't afford the payments.

This situation wasn't the fault of the credit industry or the mortgage industry--the ones at fault are those who have an unrealistic sense of entitlement, and those that foster that unrealistic sense of entitlement to get votes.

Go ISSA wrote on Sep 30, 2008 6:57 AM:and crew. Vote NO!!

Maxine wrote on Sep 30, 2008 7:04 AM:This will all be water under the bridge someday.

No Bailout wrote on Sep 30, 2008 7:07 AM:A big thank to our local congressman who had the good sense not to vote for this bailout plan. Not only will it not work but it was full of pork for special interests. There was an earmark attached for La Raza for low income housing for Hispanics, CEO's compensation was barely touched, it was expaned to bailout car loans and it gave our treasury secretary broad powers to buy any bad debit it chose, including debt in other countries. What's truly disgusting is that the people most prominent in trying to fix this are the ones that caused the problem.
Three years ago there was a Congressional hearing about the pending problems with Fannie May and Freddie Mac. Most Rebuplicans wanted immediate reform but the Democrats blocked it. Go to youtube and you will find vidoes of Barney Frank saying he didn't see a problem and McCain issuing a strong warning that trouble was ahead if nothing was done.

Fed Up With Whiners wrote on Sep 30, 2008 7:33 AM:Bilbray, Hunter, Issa and Filner have it right! Cry all you want, believe the fear tactics broadcast daily by the Mainstream Media, but we urgently need a reorganization of Wall Street! Bring back regulation for the Banking "Industry." Mortgage Companies should never have enticed unqualified buyers with "creative" financing. Balloon Payments, etc... Reminds me of some of the furniture ad's we see on TV, buy our product today and pay nothing for 12, 24, 36 months! Good Grief!! They are going to want their money, the interest payments and their profit at some point! Yes, I blame the buyer for listening and making that stupid decision, but the real criminal here is the Real Estate Agent and Mortgage Banker who made the "Creative" offer and sold the buyer a bill of goods not caring what was going to happen a few years down the road.

With furniture, stereo's, gadgets, you are left holding worn out merchandise and a huge debt. We have become a throw away society, something a little bigger, a little flashier comes out and we throw away perfectly good items so that we can buy, on credit of course, that new "thayng." Credit debt? Stop being terminal stupid and cut up those cards, or at least use them for emergency situations only.

Without a "Bailout" Bill, things will be rough for a while, but then it will level. Risky investing will cease, instant profit will be a thing of the past. We will continue to grow.

Who cares wrote on Sep 30, 2008 7:34 AM:This whole thing has no effect on the average person. Will this bill give ME money? Not. I don't have $100k+ in a checking account, my portfolio is diversified, I have a 30 year mortgage, and my job is secure, so, I DON'T CARE what ALL the joke-politicians do.

John E wrote on Sep 30, 2008 7:45 AM:"Is there no one left to lead" gets it -- the machines of the two political parties have gotten abusively powerful and completely out of touch with the hard-working American center. Corporate welfare and huge handouts to failed (whether corrupt, incompetent, or both) executives have grown to intolerable proportions.

FYI wrote on Sep 30, 2008 7:53 AM:The stock market, where my 401k is invested probably like everyone elses, lost a trillion dollars yesterday which makes the bail-out's 700 million seem like nothing. I'm so sick of these republicans and their subterfuge. IF you read the list you see republicans chiming in with all sorts of non-sense. Unfortunately we are that stupid and we can see after 8 years what is really going on. HELLO OBAMA!

love it wrote on Sep 30, 2008 7:59 AM:I love all the financial experts out here in the middle of nowhere explaining how we don't need this bailout and how it won't effect them. I suppose no one out here is on a fixed income? I suppose no one out here might need a loan or credit? I suppose no one out here works in the private business sector? You republicans voted for BUSH and after 8 years of his Great leadership this is where we are and now he is asking for your help and you are saying "NO?" Give me a break! You made your bed now lie in it!

1st ever Democratic vote wrote on Sep 30, 2008 8:00 AM:While I may not think bailing out the bankers on Wall St.is a great idea I do know that the stock market affects me. For example my 78 year old, retired, Korean War vet, dad's investments are worth about half of what they were valued at a couple weeks ago. I can ride out the downswing but my dad can't! And try as the republicans might, they can't really pin this on the democrats as the GOP was the party against regulation...and in fact cut the funding to regulatory agencies. This is the result of the republican absolutely free-market philosophy. I voting for Obama in 2008, my first democratic vote EVER! I'm voting a straight democratic ticket to get this GOP-caused mess behind me and AMERICA! Anything is better than the alternatives presented by the republicans...which is basically nothing.

The Democrats wrote on Sep 30, 2008 8:14 AM:were told over and over the economy is in trouble, bot by Bill Clinton and Bush. Anybody that wants to keep spending tax payers money now is either a Democrat or an Idiot. Speaking of which, whatever happened to the vote on School Bonds?

feed up wrote on Sep 30, 2008 8:18 AM:We had laws on the books from 1933 (depression era) til 1990 (Bush era) that protected this country from the same disaster we faced during the depression. thanks to Senior Bush those laws were eliminated and that's when the investment banks started leveraging money. It works great when the economy is going up but when it turns around they expect the taxpayers to bail them out. Put the laws back in place. Reregulate the investment banks. Everything else is just bandage.

Mike From Escondido wrote on Sep 30, 2008 8:20 AM:Whatever either party does, there sould not be a bill of this magnitude, without a payback provision to the taxpayer. If this is just a handout to big business, then every politician, of either party, who votes for it, should be voted out of office. The corruption of the politicians by big finance crosses party lines, an one can easily tell, who has gotten, and will get, the biggest payoff.

Sick of it wrote on Sep 30, 2008 8:20 AM:"There was an earmark attached for La Raza for low income housing for Hispanics"

and illigals are still getting free money in first time buyer programs in CA. And they are still getting home loans.

So where are the proposals to establish rules to stop giving these loans out to people here illegally or with stated income? Don't these companies realize that a huge percentage of these people got loans, never paid a cent of mortgage, then walked away after foreclosure? Just get a new name and a new matricular card! Free rent!

They are still getting these first time buyer programs. They are still getting loans.

Insanity!

I'm glad they stopped the bailout, but where are the laws that stop these irresponsible lending practices?

To experts wrote on Sep 30, 2008 8:24 AM:The market is coming back. Yep your 401K is lower especially if you owned a lot of financial stocks. Bare in mind yesterday was the 17th worst day for stocks not number 1 like some want you to believe. In all the 16 other drops the Street came back stronger then ever. The only reason they want this bail out is for political reasons. Let the finance companies go under and the stronger better ran ones will survive and the market will be better for it. Remember most everything the government touches turns to, well you know what. If your not buying stock now you are crazy!

Allen wrote on Sep 30, 2008 8:37 AM:Kudos to Congress for a change! The Constitution authorizes no such boondoggle.
What if there was no credit? People would only buy things they could AFFORD.
The bankers have manipulated us enough! Please keep calling Congress! No bailout for criminals! No more cronyism!

Allen wrote on Sep 30, 2008 8:41 AM:Demo and Repub party leadership are all in favor of this ripoff. That alone is sufficient reason to defeat it. Remember NAFTA and GATT?

dave wrote on Sep 30, 2008 8:46 AM:One step towards socialism if we bail out. This country is a mess and when Hussain comes into house expect a lot worse

Kudos to all who voted NO wrote on Sep 30, 2008 8:48 AM:Anyone who is so leveraged that one day would destroy them needs a new lesson in investing or shouldn't be investing at all. NO to the Bailout!

Bill wrote on Sep 30, 2008 9:19 AM:After reading several posts here, this is another great chance to do the right thing. Those who want the bailout will be charged accordingly and those who don't want it will not be charged at all.

Seems fair to me!

To FYI wrote on Sep 30, 2008 9:26 AM:You really appear to be a cool aid drinker. In 2004 officials from the Bush adminstration warned Barney Franks and the rest that Fannie Mae and Freddy Mac was in trouble. Instead of heeding the advise the Democrats attacked the messenger! It is all recorded on Video!
Look it up on Your Tube if you dare!

I called Barney's office today and demanded that he resign. It is mostly his fault, along with Senator Dodd.

Think you just a second, Obama's chief advisor is the guy who used to run Freddy Mac and he make $90 million dollars on the deal, doesn't that trouble you?

Democratic majority wrote on Sep 30, 2008 9:30 AM:If only the Democratic party had a majority in Congress, they would pass this thing and fix the economy! Vote Democrat so they will have a majority and pass this bill with Nancy Pelosi!

Now What wrote on Sep 30, 2008 9:31 AM:The public will never be convinced this 'bail out' is a good idea. It's a lot of money and includes further intrusion of a government full of idiots led by a bigger idiot ... what's to like?

That said, what I would like to know is ... if this isn't the answer (and I'm not convinced it is) ... what is? I hear a lot of No No No, but none of them come with any alternative suggestions or solutions. It's one thing to be against a bad idea, but it's something else to come up with the right one in the process.

IS THERE NO ONE LEFT TO LEAD is 100% correct.

WHEW ... You don't honestly think that we're not already footing the bill for this fiasco do you? Or that we will continue to pay for it for years to come ... with or without the 'bail out'? Oh ... we're paying. And we're going to keep on paying. And it's going to keep getting worse and worse and more expensive the longer it goes. Get used to it.

Remus wrote on Sep 30, 2008 9:35 AM:Right on! If I make a bad investment decision, then I lose money. No reason why these guys should be any different. Lehman and Lynch will suffer, yes. That is, the mortgage investment departments of their businesses will suffer, but it's highly doubtful that these firms will go under. And if they did, so what? Makes room for new players. Better for everyone!

dISSAster wrote on Sep 30, 2008 9:43 AM:Thanks, Darrell Issa, for appealing to the lowest common denominator--people who think we can ride this out. This will absolutely sink us if we don't do something. Am I happy about it? No. It's an absolute mess, but we have to deal with it. And let's re-regulate the financial industry (Republicans, I'm talking to YOU!!!) so this doesn't happen again. What a mess!!!!

Alf wrote on Sep 30, 2008 9:59 AM:Well, "The Democrats" at 8:14AM,
who has run up a $700 BILLION tab for his folly in Iraq?
GWB!
McGWB wants to "stay the course".
You say "Anybody that wants to keep spending tax payers money now is either a Democrat or an Idiot.",
I guess that makes GWB, McGWB and Palin Democrats AND Idiots, by YOUR very own definition!
Regards, Alf.

Profiles in Cowardice wrote on Sep 30, 2008 10:05 AM:How many of you against the bill have educated yourself on how commercial paper affects your employer, investment in product inventories, payroll, etc.?

How many have sought an education about the TED spread, and credit default swaps, and what they indicate about the health of credit markets?

How many of you who "made the right decisions" (like me) understand the cost of no bill? (the value of your home, the stability of your employer, your 401k, etc.)

The sad part is that I think our representatives are smart enough to know this stuff. They just don't have the backbone to put the interests of the country before their re-election chances in the face of an angry (and ill-informed) mob.

Shameful. I'm talking to you Bilbray.

grj wrote on Sep 30, 2008 11:18 AM:Bush scared the country into a bad lie of a war, it would have been enough money to give health care to the whole country(oh according to some this is marxist. Funny how people with a lot of stocks and money want bail out. When I was in school I was taught stock market is a gamble a risk. The ceo's of failed companies don't deserve to be bailed out by government.Working class people are over taxed, this country is all about benefitting the rich. Not too many demecrats living in Rancho Santa Fe (LOL)

to Democratic majority wrote on Sep 30, 2008 11:21 AM:Read the article. Check your facts! Democrats DO have a majority. In the House, there are 239 Democrats and 200 Republicans. In the Senate, they are split (49 Democrat, 49 Republican and 2 Independent). 95 Democrats (or almost 40%) voted against this bill. Don't try to blame the failure to pass the bill on the Republicans. If the vote was that strongly against, it seems to me that there were a lot of problems with the bill as written.

Personally, I don't know enough about the economy to take an intelligent position on if the bailout is good or bad. I do think that we have lived too long in a society where there is no responsibility for actions and everyone turns to the government - local, state and federal - to save them when things go wrong.

Chubton wrote on Sep 30, 2008 11:23 AM:It's cute to blame one politician/party or another.
In fact, both major parties are to blame.
This was crafted by Paulson and then negotiated by the Democratic majority congress.
Also, earmarks were stuffed into the plan by both major parties.
This process was bipartisan until McCain meddled in it, causing partisan politicking which Pelosi verbalized, which ultimately ended in a dead deal.
If socialism needs to bail out capitalism, so be it. We should model the process after another country that has done this before successfully – e.g. the Swedes.
But don’t you get the sense that over the past 8 years the public has been getting railroaded into situations that could be mitigated before they turn into a crisis?

Patrick wrote on Sep 30, 2008 11:38 AM:Go ahead and bail these bozos out, just watch what happens to our currency. The dollar will be worth what the peso is... Someone say 'Amero'?

selfish wrote on Sep 30, 2008 11:40 AM:One I notice reading the line is that republicans believe when a ship is sinking panic and scream, "it's not my fault - abandon ship! everyone for themselves", where as democrats are thinking how can we get together to fix this so we all survive and it doesn't happen again.

To Profiles in Cowardice wrote on Sep 30, 2008 11:44 AM:Agree totally. What we saw yesterday was a mob mentality, directed not toward what is best overall for average Americans, but was a lashing out based on deep rooted distrust, and an ever growing frustration, with anyone involved with government.

So many here are saying that a significant downturn in the financial markets only affects the rich, and not them. But they clearly don't understand that all these markets are tied together, and the paychecks (not to mention retirement accounts) of most American's depend, either directly or indirectly, on what happens in these markets. If the market crashes big time, it won't matter how diversified you are, or that you don't have more than $100K in an account. You won't have a job! What good is insurance if the insurance company i.e. the government, is broke? Say your bank goes broke. How long would it take to get your money from the FDIC if they are having to pay out on every account held by the citizens?

I find it ironic that republicans support the idea that whatever happens a the corporate level trickles down to the consumer (higher taxes will be passed on, lower taxes will induce investment, regulatory costs will be passed on, etc), but are insisting that in this case, what happens at the corporate level happens in a vacuum, and won't affect the "average Joe". Pretty selective application of a tried and true conservative principle.

If the bad mortgages were unpackaged and bought separately at a discount by the government, not only would it free up capital to the banks (the problem), the taxpayers would then own all that paper, which over time (time the banks don't have), would eventually pay back the taxpayers (as loans are paid off or refinanced, or houses are sold at auction). The plan is fine. It's trust that is broken.

To Profiles in Cowardice wrote on Sep 30, 2008 11:45 AM:The special interest pork and money for foreign companies needs to go before it should be accepted.

So why weren't the golden parachutes removed?

Because no one wanted to upset their big contributors....

I pay over 100k wrote on Sep 30, 2008 11:48 AM:Listen, I'm reading this board and wondering how much in taxes do these nay sayers actually pay. I have a feeling they aren't even paying the cost of the public services they use everyday. I write a check for almost 100k every year to uncle Sam, and I am for the bail out, not for my personal interests but for the interest of our community and nation at large! I do think the bonus' of the last two years that these failed companies paid out to their traders and executives should be seized; however I'm not about abandon the welfare of our economy just because "it isn't my fault"

TO STILL SMILING wrote on Sep 30, 2008 11:55 AM:You give a great rendition of a pompous braggart.

Alf wrote on Sep 30, 2008 12:26 PM:Even though I am against this bail-out,
"to Democratic majority" at 11:21AM,
I did check out the FACTS.
FACT - approximately 2/3rds of the Democrats voted FOR it,
FACT - approximately 2/3rds of the Republicans voted AGAINST it.
FACT - if you want to blame someone
BLAME the higher number of "Nay" votes,
132 Republicans!!
Like I said, I was and am still against the bail-out.
Regards, Alf.

Here is a plan wrote on Sep 30, 2008 12:37 PM:I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bonafide U.S. > Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billon. That equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend. Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife team has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? This does NOT include ILLEGAL ALIENS.

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And, of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ("vote buy") economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+! As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. WE DESERVE IT and AIG doesn't. Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than do the geniuses at AIG or in Washington DC.

And remember, This plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

NO BAILOUT EVER wrote on Sep 30, 2008 12:39 PM:Brian Bilbray, R-Solana Beach: No
Thank You!
Duncan Hunter, R-El Cajon: No
Thank You!
Darrell Issa, R-Vista: No
Thank You!
Mary Bono Mack, R-Palm Springs: Yes
Let's be sure to remember Mary come election day!
Susan Davis, D-San Diego: Yes
Let's also be sure to remember Susan come election day!
Bob Filner, D-San Diego: No
Thank You!

Fools flirting with disaster wrote on Sep 30, 2008 12:45 PM:you guys don't get it. Its not a reward for wallstreet insiders, its a move to save your future.

While you tend to say, "to heck with them, let'em suffer", its your credit, retirement, investments, and bank accounts that are in peril.

The attitudes expressed on this page make it painfully certain that too many people know too little about the economy, and their stubborness will be the undoing of all of us.

No Bailout wrote on Sep 30, 2008 1:11 PM:Why should working class people who lived within their means, acted responsibly and refrained from making unsound investments be forced to pay even one cent for those who did not. Are you crazy! What's more, why should those ordinary folks be ridiculed for acting responsibly and doing the right thing. The bailout plan is a direct slap in the face. It sends the message that only fools behave responsibly and creates a moral hazard. It's disgusting to think that members of our legislature would even propose such a heinous atrocity.

Christimarie wrote on Sep 30, 2008 1:33 PM:Shame on Bilbray and Issa for listening to Rush Limbaugh and Sean Hannity. These right wing RICH nutcases egged on their listeners to flood the lines of these and other Republican Congressmen. This bill wasn't about Wall Street as much as it was about keeping the credit markets open. Without credit markets, small business will go out of business. People will lose jobs. People won't be able to get car loans. They won't be able to loans to buy anything! Rush and Sean and even Roger Hedgecock can buy all the cars and things they want without loans. They can afford to stand on their principles. Their listeners are too ignorant to see the ramifications and follow them in blind faith. I know, because I did the same for years before waking up and realizing I was just a pawn in their ego game.

Im poor wrote on Sep 30, 2008 1:37 PM:I have no stocks, barely a job, and no future. Unless I'm getting a check from this then NO BAILOUT! They can ALL fail, then THEY will know how I live.

No Bailout wrote on Sep 30, 2008 1:44 PM:If the bankers and stock brokers and politicans want to take a leap off the financial businesses, tell them to make sure thheir is no one below them.

Alf wrote on Sep 30, 2008 1:48 PM:Well, "Fools flirting with disaster" at 12:45PM,
ANY bail-out that is not DIRECTLY linked to legislation to prevent this crap from repeating itself over and over again is the WRONG way to go.
Let's see,
$700 BILLION for GWB's folly in Iraq SO FAR,
$700 BILLION for a bailout now,
How many HUNDREDS OF BILLIONS or TRILLIONS of dollars do we have to give away for lack of ANY SOUND JUDGEMENT from GWB, banks and Wall Street?
As much as I, a Libertarian, hate governmental interference, it is painfully clear that deregulation is more than an abysmal failure, it is a catastrophic disaster, as is GWB's folly in Iraq.
I don't know about you, but rewarding stupidity, greed, arrogance and failure is not the way to "make it all better".
A bail-out eases the symptoms, it does not cure the disease.
Regards, Alf.

to Alf from to Democrat majority wrote on Sep 30, 2008 1:57 PM:Alf, the purpose of my post what not to place blame on either party but to correct the post from Democrat majority that if the Democrats controlled congress, the bill would have passed. Democrats DO control congress and 40% of them decided that this bill was not something they could support.

I agree with you - I'm glad this bill did not pass but there is enough "blame" (maybe credit is a better word) to spread on both sides of the aisle.

Its high time wrote on Sep 30, 2008 2:18 PM:that the evil Americans get their just rewards...now, not just the politicians are getting their teeth kicked in, but so are the everyday joe six packs who have allowed, even urged, America to become such gangstas of the world stage.

Enjoy you depression, because I know your weakness will not allow yourself to pull out of this one!

Doug wrote on Sep 30, 2008 2:23 PM:I hope all the Republicans who voted for a retard twice feel good about themselves.

No wrote on Sep 30, 2008 2:29 PM:Why should working class people who lived within their means, acted responsibly and refrained from making unsound investments be forced to pay even one cent for those who did not. Are you crazy! What's more, why should those ordinary folks be ridiculed for acting responsibly and doing the right thing. The bailout plan is a direct slap in the face. It sends the message that only fools behave responsibly and creates a moral hazard. It's disgusting to think that members of our legislature would even propose such a heinous atrocity.

YOUR ACTION NEEDED URGENTLY wrote on Sep 30, 2008 2:33 PM:If Congress doesn't authorize this bailout, the smoking gun could be a mushroom cloud over Wall Str-- Oh, whoops, I'm mixing up my scare tactics.

Clawback wrote on Sep 30, 2008 2:42 PM:I agree with Profiles in Cowardice 100%. I couldn't support this bailout unless the banks force the fat cats to give back their golden parachutes.

Just Wondering wrote on Sep 30, 2008 2:50 PM:Yeah, those horrible wall street guys did you in! LOL

Answer the following questions:

a. are you carrying more than 1000 bucks in credit card debit (how about 2500, 5 grand, 10K or more)?

b. have you a saving account balance (cash available, not paper "investments") equaling 6 months of your bills and living expenses (how about 4 months, 2 months, enough to get you through until the end of October)
should you lose your income source?

c. in addition to your first mortgage, do you also have a second, and a equity line of credit (tapped out to the max)?

d. Did you view your house as a home, or as an investment?

e. how many cars do you own, and what kind of gas mileage do they get?

ah-ha, letting finances get away from you aren't just problems of those darn wall street bigshots, huh?

grj wrote on Sep 30, 2008 4:08 PM:Let's all get up cheer for the man that pays 100,000 in taxes
The high percentage that is taken out of my check does let me rent close to work and my gas bill is killin
Maybe mister high taxpayer can give me job (LOL)

Profiles in Cowardice wrote on Sep 30, 2008 4:16 PM:OK. Let me put it this way:

Islamic Banking (google it) is a form of economic activity where interest-bearing credit is not allowed.

Now, name an Islamic economy that is a net importer of oil (like us), and has a thriving economy without credit.

Trick question. It doesn't exist. Their economies are so bad that their citizens don't hesitate to blow themselves up.

$700B bailout bad -- frozen credit market worse.

No Bailout No Socialism wrote on Sep 30, 2008 5:29 PM:Thank you to the Congressmen who had the guts to vote for the people. The people demanded this be defeated. Now prosecute those responsible, Frank, Waters, Dodd, etal. Bush is "goofy" for siding with Paulson. No No No to the bailout, no no no to socialism. AND a big fat NO to Obama.

Ed wrote on Sep 30, 2008 5:50 PM:meanwhile we're still borrowing money from the Chinese to pay for the occupation of Iraq and Cheney and Bush's buddies are raking the dough in...

X-Republican wrote on Sep 30, 2008 5:59 PM:The country was better under FDR ( fought WWII), Trueman ( Ended WWII), JFK ( avoided nuclear war-Cuban missile crisis), and Clinton ( no-Iraq war, good economy balanced budget).
The bail out-No one knows what will happen either way- a real depression and we will really suffer!
Dont listen to Rush Limbaugh for your facts!
I am an X Republican now, because the Republicans had 8 years and look at the mess.
The new Republicans we have today -lie and make excuses-Polosi did it, or It started with Carter! --I have no respect for Republicans anymore.
And the greatest lie and insult to all Americans is the idea a Republican is Patriotic and a Democrat is not! Time for a change-vote Democratic.

Just Waiting wrote on Sep 30, 2008 7:20 PM:I am just sitting back waiting for another 30% to come off the price of your homes. The Bailout would have really messed up my plans to buy your house for maybe 50% less than it was a couple years ago. I have to thank those that voted against this bill. Now I can just sit back and wait...

John Matthews wrote on Sep 30, 2008 7:21 PM:While it's laudatory that some are trying to inform the undereducated majority that downturns in the capital markets aren't nearly limited to merely "the fat cats on Wall Street," the capital markets are secondary to where the real looming financial crisis exists: the credit markets.

LIBOR is at its highest point ever. One day last week, the yield on the 1-month T-bill was negative. What does this mean? Banks are too scared to lend freezing the credit markets. Companies, many of which rely on revolving lines of credit or other short-term debt facilities to fund operations can no longer tap these at the same rates (or in some cases at all). Some will come to learn this tomorrow as their company is unable to make payroll on payday. Others will learn this shortly (if we fail to pass this bailout) when their businesses, unable to finance inventory purchases or pay down accounts payable, fall even further into debt and begin layoff rounds.

There's a false classicism issue that's been constructed here of "us against them" or "Main Street vs. Wall Street." Blame Wall Street if you will -- you'll be mistaken though as the Street would have no bad loans to securitize if irresponsible borrowers didn't take out these loans in the first place... but I digress. Blame Wall Street if you will, but in doing so, realize that we all are inextricably tied to their fortunes through a complex web of financial arrangements that only few know the extent and scope of.

I urge you to be keenly aware of this, lest you cry "no bailout for the rich!" and end up hurting yourselves far more than the rich will suffer when no bailout passes.

JOE wrote on Sep 30, 2008 8:48 PM:To "Here is a Plan", where did you go to school at, must be the "new math" tha you learned, just refigure your math it actually comes out to $425.00 per person for the AIG bailout and if it 700 billion bailout it only comes out to $3500.00 per person, do you actually think that would make a dent in the economy????? Here's to NO BAILOUT and a Socialist System like the USSR!!!!!

no bailout wrote on Oct 1, 2008 3:00 PM:I hope you courageous SoCals aren't going to start whining when your credit cards and ATM cards don't work. It'll be fine when you lose your job, your house, your SUVs, credit lines and huge televisions. You'll at least have your principals to feed your families.
I don't think you people get it.