Thank Pluto the bailout bill pased!

Isn't it so wonderful now that the bailout bill passed.
:sarcasm:

:rofl:

He was the god of wealth, since the underworld, apart from being the abode of the dead, is also store of precious metals.

a big crock of shit

:shrug:

Glad you got it. :hi:

without a Uranus! :)

He was a notorious wife beater.

Uranus, I'm sorry to break it to you. :-)

And eat your heart out

:rofl:

that one :-)

bumped up. Since the market dropped again I figured what the hell.

:grr:

You do realize there's a big difference in passing the bailout bill, and actually implementing it, don't you? Did you think that as soon as it passed, it was going to magically take effect and solve everything? I don't think there was one single person who said that the bailout alone would fix things, and it sure as hell wasn't something that promised to help the economy overnight, or even within a few weeks.

But hey, if you want to demonize Barny Frank, Obama, and everyone else who voted for the bailout because it didn't instantly transform the economy, go right ahead.

:sarcasm:

if they weren't even going to implement it?

Their reasoning was that we would see an immediate unfreezing of the credit markets once banks knew the toxic assets would be bought up. That was the stated goal. That was why we weren't allowed to take the bill to committee and have adequate debate. But that didn't happen, LIBOR rates and the TED spread didn't budge. Europe forced Paulson's hand with a massive recapitalization plan. TARP will now never be implemented as it was drawn up.

It only took one day for the markets to determine the bailout was crap. It took bold action on the part of European countries to bring liquidity back, but even that might not be enough. The bill was never designed to save the broad economy. It was simply designed to thaw the credit market and buy us time. As predicted by most economists, it failed.

"Why did it need to be rushed through if they weren't even going to implement it"

Huh? Nobody said this was going to happen overnight, but they needed to get the bill passed first before they could even start the process. Who said anything about them not even implementing it? Who said it was going to be implemented within a week or so?

then there was no reason to rush it through, right?

Why do you think they demanded that it be passed so swiftly and without any debate?

I just opened a mortgage offer from Advanced Financial Services, who say they are associated with Fannie Mae.

The offer was for $271,000 "or possibly more."

Wonder how many offers we would get if it were not for the "credit crunch"....

Watch that "bailout" money evaporate while congress does nothing.


mark