DOW drops more than 600 points as Bailout Bill on verge of not passing House

Source: ABC News

DOW DROPS MORE THAN 600 POINTS AS BAILOUT BILL ON VERGE OF NOT PASSING HOUSE

Read more: http://abcnews.go.com

freefallin'

looks like it's stablilizing if I can use that term in the -500's

does that mean we get a do-over?

CNBC has the live camera shot right now in the lower left.

That would be nice, wouldn't it?

what is wrong with these people they want the economy to collapse?

If this were a game of mumbldy ped I'd say someone just put a hole in a shoe.

I don't even have a say in the game, or much exposure to US financials and I'm up to my ankles in blood.

Tomorrow they might rejoice and it could be up 1000. I am wildly unimpressed.

Of course, if you put a fortune on margin like an idiot, you might be in trouble.

We need a way to pay for the rescue that does not require the average Joe to pay for it all.

We need to impose a STET.

http://www.commondreams.org/view/2008/09/26

n/t

This might be the REAL shock some people need :shrug:

i am so f*cked.

what other faulty investments. i think i am fucked with you. i try not to use that language but it is apropos for the moment.

The market is a volatile place. If you are young, it will probably recover and then some.

You know, I don't know if I think this is a good thing or not.
I'm certainly not sorry it didn't pass, but I don't know if that gives me any comfort.

No two ways about it.

I have to look at the vote...wondering if it is along party lines. If the market tanks, well if the market really, really tanks, what will be the response?

because it was down over 11 percent.

No bailout! Seize the failing banks and buy up equity shares for the PEOPLE in the financial system.

can't hold us hostage if we don't empty our pockets for their selfish bailouts and handouts.
Let them get real jobs and work for a living!

I'd just as soon a computer run it like this RichM says in a comment on Common Dreams:
" In its present form, Wall Street is a Frankenstein monster, a parasite on the rest of society, & a locus of absurdly & dangerously disproportionate wealth & power. It should be dismantled, not "rescued." Whatever useful functions it performs in terms of raising capital & making loans could be done better by a computer program. All of Wall Street could be replaced by one computer sitting on a desk (to match those needing loans with those having funds to lend, etc). The computer would operate on completely transparent publicly-posted principles. It would be vastly more honest & trustworthy than the current crew, and would have less maintenance cost. It would own fewer homes in the Hamptons, and would bribe fewer Congressmen."

http://www.commondreams.org/view/2008/09/26


And eliminate personhood for corporations while we're at it!

Holy SHIT!