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Breaking News...House defeats bail out plan

Breaking News...House defeats bail out plan

Old Sep 29th 2008, 6:27 pm
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Default Breaking News...House defeats bail out plan

and markets plunge....complete bloodbath today.

Sad, collective greed and stupidity has brought down the whole financial system.
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Old Sep 29th 2008, 6:32 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by IndieG View Post
and markets plunge....complete bloodbath today.

Sad, collective greed and stupidity has brought down the whole financial system.
When will someone defeat the housing plan over here??? That will be the day...
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Old Sep 29th 2008, 6:33 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by IndieG View Post
and markets plunge....complete bloodbath today.

Sad, collective greed and stupidity has brought down the whole financial system.
A very good argument was that why the people should foot the bill when the big corporates fall??? The corporates completely forgot about the people when they were making shitloads of money...
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Old Sep 29th 2008, 6:39 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by Confucius View Post
When will someone defeat the housing plan over here??? That will be the day...

very soon Conf....
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Old Sep 29th 2008, 6:42 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by Confucius View Post
A very good argument was that why the people should foot the bill when the big corporates fall??? The corporates completely forgot about the people when they were making shitloads of money...
It's not so simple - problem is when big corporates fail, thousands of jobs are lost, it is a ripple effect and the whole economy is ultimately hurt.
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Old Sep 29th 2008, 6:44 pm
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Default Re: Breaking News...House defeats bail out plan

In terms of the latest Bradford & Bingley takeover in the UK, I feel really sorry for those people losing their jobs -then double whammy- probabaly paying more taxes to offset nationalisation.

Those at the top responsible shouldn't get their golden parachutes if wilful neglect/mismanagement can be shown.Jeez it's just been one big domino effect since Nothern Rock.Shouldn't the others have been more prudent????
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Old Sep 29th 2008, 6:45 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by IndieG View Post
It's not so simple - problem is when big corporates fail, thousands of jobs are lost, it is a ripple effect and the whole economy is ultimately hurt.
Usually people working for corporates are already on nice salaries and Im sure they already have a good big nest egg ready with the hefty bonuses that they got over time...
If they didnt save that money for this rainy day, they have cinderella to blame...
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Old Sep 29th 2008, 6:46 pm
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by Eva View Post
In terms of the latest Bradford & Bingley takeover in the UK, I feel really sorry for those people losing their jobs -then double whammy- probabaly paying more taxes to offset nationalisation.

Those at the top responsible shouldn't get their golden parachutes if wilful neglect/mismanagement can be shown.Jeez it's just been one big domino effect since Nothern Rock.Shouldn't the others have been more prudent????
Interesting times...
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Old Sep 29th 2008, 7:39 pm
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Default Re: Breaking News...House defeats bail out plan

This is not over yet. The US Government cannot allow this to happen and are just stalling until the deatails of the plan are more transparent. The problem is that this co-incides with an election which in part will have tax pledges interwoven into the manifestos - how that is going to work will be interesting.

Watch the gold price now.
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Old Sep 29th 2008, 8:17 pm
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Unhappy Re: Breaking News...House defeats bail out plan


Please adopt the brace position...
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Old Sep 29th 2008, 11:01 pm
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Wink Re: Breaking News...House defeats bail out plan

Does anyone know about the LTSB - HBOS deal? Senior management seems to think it's going through but the market spread suggests shareholders have other ideas .
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Old Sep 30th 2008, 3:55 am
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by Bijilo123 View Post
This is not over yet. The US Government cannot allow this to happen and are just stalling until the deatails of the plan are more transparent. The problem is that this co-incides with an election which in part will have tax pledges interwoven into the manifestos - how that is going to work will be interesting.

Watch the gold price now.
and also wait for the change in election rhetoric from foreign affairs ("I've been to Kuwait and I can see the Ruskies from my house") to the economy ("McCain rescues deal/saves 10000 American jobs/white knight type stuff") even though he actually sat quietly during the committees.
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Old Sep 30th 2008, 4:48 am
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by jvr20 View Post
McCain rescues deal/saves 10000 American jobs/white knight type stuff
Last one is clearly not PC/racist .

Yet McCain couldn't get his party to back him on a bailout plan weeks out from being voted in . I wonder if there will be a 'backlash' at the ballot boxes about the apparent lack of action to stem the crisis. There will be plenty of middle class voters watching their pension plans go down a black hole and not too happy about it I'd imagine .

So I hear it's going again almost unchanged, bizarre! Perhaps they'll bring out the whips this time?
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Old Sep 30th 2008, 5:18 am
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Default Re: Breaking News...House defeats bail out plan

Originally Posted by Charismatic View Post

So I hear it's going again almost unchanged, bizarre! Perhaps they'll bring out the whips this time?
Typical American reaction - they have no clue/interest of the effect this is having on the rest of the world.

It will be interesting to see what those who opposed the plan suggest as an alternative.
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Old Sep 30th 2008, 7:04 am
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Default Re: Breaking News...House defeats bail out plan

Michael Moore's take on this:

http://www.michaelmoore.com/words/me...dex.php?id=235

Unfortunately, most of it is true. Either way, everybody stands to lose.
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