Weeeeeee!

[lithera]

The House of Representatives today rejected a $700 billion plan to bail out the U.S. financial system, putting a roadblock in front of the largest government intervention in the markets since the Great Depression. The Dow was down more than 500 points after the voting ended. - CNN.

Let me tell you. I don't pretend to understand the specifics of the plan but this boiled down version makes it seem like the wrong way to go: http://www.clusterstock.com/2008/9/analyzing-the-bailout-what-s-in-it-anyway-

I'm hoping for good time fun during the VP debate. http://jeffreygoldberg.theatlantic.com/archives/2008/09/sarah_palins_terrifying_ignora.php

Comments

[sharkcowsheep.livejournal.com]

Craaaaaaaap.

I'm scared. I need hot soup. Let's get Pho Cyclo tonight.

[lithera.livejournal.com]

We have bowling tonight but if you want to go to pho tonight before bowling (or even come along with the bowling) we can do that. Does 6-ish work for you?

[sharkcowsheep.livejournal.com]

Totally. I'll tag along with the bowling for a bit. :)

[lithera.livejournal.com]

Awesome.

[thezzyzx.livejournal.com]

I've talked myself into it. I'm not 100% convinced this will work but doing nothing is even less likely to work.

[lithera.livejournal.com]

Well, doing nothing is certainly bad but this plan is like trying to fix a cracking dam with band aids - and we're even putting the band aids in some of the wrong places entirely. I'd like a plan but this one seems like it is just a delaying action.

[thezzyzx.livejournal.com]

I don't know if a delaying action is bad though. It's the difference between falling off a 10 story building and riding a waterslide. They both take you to the same place but you're much more likely to survive the latter.

[lithera.livejournal.com]

Again, if it is the right delaying action.

I was just about to make a comparison that involve buildings collapsing and I couldn't do it due to vivid memory flashback.

Noooo. I'm not stressed out about this at all.

[thezzyzx.livejournal.com]

I don't know if it is or isn't, but I haven't seen a different plan that offered to do the same goal only with different details. The House Republican plan was a non-starter (hint guys: A capital gains cut doesn't help people when the market is crashing). There are a lot of people in Congress who are a lot smarter than me on this issue. If no one else has anything rational, at some point I'm going to have to assume that this is the least bad option that people can think of, the one that has a 20% chance of working instead of a 12% chance...

[wanderingfey.livejournal.com]

I think your icon says it all.

At least from the synopsis you've linked to, this plan has "all-nighter" written all over it.

...now the question that must be asked:

"Now what do we do?"

[lithera.livejournal.com]

We obviously need to do something. I have no idea what.

[m00t.livejournal.com]

I'm not sure 'nothing' *isn't* the right choice. What is the 700 billion buying us? In the time since the "meltdown" what has actually happened? So far I'm *NOT* seeing massive widescale collapse of the financial system. So far, some major transactions have occurred which means things AREN'T completely F**KED. Is this 700 billion really just another pay out to the people who created this mess? Is the panic on the Dow a way to force people to do the bail out?


As for Palin, she's a lunatic and completely unqualified for the job of President which she appears to be running for.
There is a reason why they've minimized interviews and kept them to softball questions (Which she completely BOMBS on anyway!). The debate will be a blood bath. Unfortunately I almost see her coming to tears over it which will not be good for Biden. I know I'd be crying if I was in that position.

[m00t.livejournal.com]

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

[elscoobysnacko.livejournal.com]

I loe the CNN lady they talked to who said you should worry about what's going to happen and the state of what's going on but don't panic.