$700 billion bailout bill just got rejected!

[rambov]

LOL this is hillarious. People really think that this bailout was for wall street.

Read the Great Depression

[Spare Moody]

Caliper?, .

yeah, yeah, yeah....

[SnoopySmurf]

Thats not that bad.

Not at the moment. But it is a snowballing affect. Unemployment will rise, foreclosures will happen because businesses were not able to get the credit they needed to stay in business, no one hires uneducated people, etc

[BattlingNelson]

Whats the worst that could happen?

Worst case is that the confidence in the banks liquidity plummits. Not only could it result in a 'run' at the banks from ppl who want to liquify their savings, it also means that the trust between the banks itself suffers. That would make it very hard for banks to loan from other banks. In essense that would mean that banks interests go up (interest is the price of money) and it would be harder for companies to get financing. Hence a recession.

[BTL]

unemployment, therefore foreclosures, get 10x worse. home values sink to levels below that seen in the 70s therefore encouraging homeowners to just walk away and make the problem even worse. millions of pensions and retirement funds flat out disappear opening up a few more million people desperate for work.

isnt that how it is right now?

[Sin City]

unemployment, therefore foreclosures, get 10x worse. home values sink to levels below that seen in the 70s therefore encouraging homeowners to just walk away and make the problem even worse. millions of pensions and retirement funds flat out disappear opening up a few more million people desperate for work.

Thank you Dubya!
And somehow people still believe the war in Iraq was worht it...

[Sin City]

Not at the moment. But it is a snowballing affect. Unemployment will rise, foreclosures will happen because businesses were not able to get the credit they needed to stay in business, no one hires uneducated people, etc

If they gave 700 billion to families in debt that wouldn't be a problem... but they aren't are they?
So if they aren't getting any government cheese.. why should AIG?

[Sweet Pea 50]

[Mizzou]

Why is it that we are in the state which we are in?? You can't have it both ways...
You cant throw away money then expect the economy to be in a perfect state.
I'd like to thank all the idiots who voted for Bush btw... and I'm not for bailing those very same people out.

Idiots come in the form of the predatory lenders and the ****ing idiots who had NO business taking out homeloans. It's not just "people who voted for Bush." That sounds like some ignorant moveon.org type ****.

[SnoopySmurf]

If they gave 700 billion to families in debt that wouldn't be a problem... but they aren't are they?
So if they aren't getting any government cheese.. why should AIG?

Most Americans...and Ron Paul agree. **** the big companies. They failed. Bye.