US Bailout Rejected by H.O.Reps

[Boris]

US Votes Against Bail-Out Plan, Sending Dow Jones Plummeting | Business | Sky News

Unless they get it sorted by the time the markets open on Tuesday morning in Japan then - HANG ON TO YOUR HATS. Mondays 800 points of the HKeX is going to look like a steady day.

Mid afternoon in NY and the Dow is down 6% so anyone betting that 16000 ( -10% )will hold in HK? Normally I would be decrying it as alarmist but what with all the other stuff going on ...............

Its going to make Mr DOOM DOOM DOOM very happy no doubt.

[Boris]

Looking at Bloomberg - Pelosi and her buddies saying all the right keywords.
Bi Partisanship Homeowners Middleclass etc etc

Strong on saying that " we as Democrats did our part in a patriotic way for the American people ". So the point is clear, the Republicans said no and its all their fault. BUT WAIT JUST A COTTON PICKED MOMENT THERE FOLKS.

Correct me if I'm wrong but don't the Dems have a House majority ?
If the Dems where doing the business for ordinary Americans why was the vote as follows ?
Yeh
Dems 140
Reps 65

Nay
Dems 95
Reps 133

So " Dear Mrs Pelosi , Why did 95 of your party NOT vote with you ?
and WHY when you have a 235 to 198 advantage on the night -- did you still lose ? "

I heard her praising her whip for a great job -- Seems not.

What with her remarks in the speech before the vote that was definitely partisan and playing to the coming election, this all smacks of not " we the people " but more " screw the people to get more votes "

[KnowItAll]

So, the real question, how low is the Hang Seng going to go today and what will you be buying??

[KnowItAll]

>> Dear Mrs Pelosi , Why did 95 of your party NOT vote with you ?

Because everyone is tired of Pelosi, Wall Street and the rest of the greedy mob? (Not saying this just to get people all worked up, but just like politicians, the banking community has developed this aura where NOTHING is ever their fault and will never admit to having screwed up)


http://news.yahoo.com/s/ap/20080929/...ncial_meltdown

In the face of thousands of phone calls and e-mails fiercely opposing the measure, many lawmakers were not willing to take the political risk of voting for it just five weeks before the elections.

They should have elections every six to keep this lot honest and free of lobbyist's influence.

[whong]

[QUOTE=Boris;254247
Its going to make Mr DOOM DOOM DOOM very happy no doubt.[/QUOTE]

At the moment, it has been WAY oversold. only 7% drop and people talked bout crash. 1929 & 1987 were the real ones.

anyway, 777 drop... maybe someone hit the jackpot right??

[MovingIn07]

I'm not sure it highlights the benefits of democracy though. The final package appeared to be sensible and I don't think the average 'man in the street' actually has a clue about any of this (they are, after all, the idiots taking out huge mortgages that they could not afford which started all this!). Politicians are representatives of the people - they are supposed to be acting in their interests , even if the average american does not understand what is in their interests, not just in their own political interests!

[FilipH]

Just woke up and saw this. am speechless. This is really getting out of hand.

only 7% drop and people talked bout crash. 1929 & 1987 were the real ones.

So sure 7% isn't really a "real crash" but this is not over by far since we just lost the medicine and the patient is seriously sick.

[gilleshk]

And I am salivating at the prospect of making a killing...I've been waiting for this opportunity. Most of what goes down will be coming back up soon enough....

[jayinhongkong]

Just woke up and saw this. am speechless. This is really getting out of hand.




So sure 7% isn't really a "real crash" but this is not over by far since we just lost the medicine and the patient is seriously sick.

IMO if this patient can't afford it's own medical care, it should figure out its own remedy or evolve to cope with a changing world.

[psjylife]

+1!

But is there any other possibility than a new vote?

Just woke up and saw this. am speechless. This is really getting out of hand.