Bailout Rejected

Im pretty happy, surprised and in shock about this. Looks like there a few smart people in Congress who know when they're about to be robbed. I think that this rejection was the most important economical decision the US has had to make, well, what are your thoughts on this bailout rejection?

Btw: The bill got leaked online this morning, if you want to check it out: http://wikileaks.org/leak/us-ecnomic-stabalizaton-act-draft-2008-9-28.pdf

They'll just keep pushing different versions of it through until it gets approved.

don't you just love our president :D

I find it funny because my dad told me that a friend of his rushed out and bought $2000 worth of stocks in Wachovia shares at like $9 a share because he was sure this would be passed and it would go up 3-4 dollars. Last I checked it was at around 35 cents a share :P ...I just find that funny.

There's two big real reasons the Republicans mostly rejected the deal.

1. People who are standing by their (Republican) beliefs in how an economy should work.
2. People more afraid of the public's perception of the bailout than their reaction if/when the economy gets even worse off.

I do believe things will be very bad if there is no bailout, MANY jobs will be lost, less things will be bought, and that cycle will be very nasty on a global scale.  However, by giving the bailout, at least to some extent we are rewarding really poor & greedy business practices.

Basically there's no right solution at all.

"There's two big real reasons the Republicans mostly rejected the deal.

1. People who are standing by their (Republican) beliefs in how an economy should work.
2. People more afraid of the public's perception of the bailout than their reaction if/when the economy gets even worse off.

I do believe things will be very bad if there is no bailout, MANY jobs will be lost, less things will be bought, and that cycle will be very nasty on a global scale.  However, by giving the bailout, at least to some extent we are rewarding really poor & greedy business practices.

Basically there's no right solution at all."

"Jigen said:

"There's two big real reasons the Republicans mostly rejected the deal.

1. People who are standing by their (Republican) beliefs in how an economy should work.
2. People more afraid of the public's perception of the bailout than their reaction if/when the economy gets even worse off.

I do believe things will be very bad if there is no bailout, MANY jobs will be lost, less things will be bought, and that cycle will be very nasty on a global scale.  However, by giving the bailout, at least to some extent we are rewarding really poor & greedy business practices.

Basically there's no right solution at all."

But seriously, isn't that a good thing in the long run? Freeing yourself from the tyranny of foreign financial institutions?"

"They'll just keep pushing different versions of it through until it gets approved."

"serbsta said:

"Jigen said:

"There's two big real reasons the Republicans mostly rejected the deal.

1. People who are standing by their (Republican) beliefs in how an economy should work.
2. People more afraid of the public's perception of the bailout than their reaction if/when the economy gets even worse off.

I do believe things will be very bad if there is no bailout, MANY jobs will be lost, less things will be bought, and that cycle will be very nasty on a global scale.  However, by giving the bailout, at least to some extent we are rewarding really poor & greedy business practices.

Basically there's no right solution at all."

But seriously, isn't that a good thing in the long run? Freeing yourself from the tyranny of foreign financial institutions?"

I can't take anyone seriously who believes the constitution which was written way back in the 18th century (which included slavery) can run such a modern country."

"MB said:

"They'll just keep pushing different versions of it through until it gets approved."

Sadly, I agree that will happen. I'm not looking forward to the next few years, economically speaking."