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Thread: Lawmakers reject bailout

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    Bring Back BWHacks!

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    Wow, they rejected it. This is getting interesting, I wasn't expecting them to vote this much against it.



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    If they don't figure this **** out by next semester, i fear for myself and many other college students who have to rely on Student Loans.

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    Student loans suck, degausser. I had to get one to attend university.
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    I am already being forced to live on student loans. I think the only thing that could make my situation worse is higher food prices or student loads not being given out.
    Last edited by hellinsect : 10-01-2008 at 02:06 AM

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    Why are you upset? It's a GOOD THING the bailout didn't pass. How do you think the government is going to pull $700 billion out of their ass? This bailout plan could have provided short term relief, but in the long-term, it's only setting up the economy for something even worse. We need to find the problem and fix it, not just inject imaginary money into our economy.

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    I thought for sure that the bailout would be passed. Then I realized with such an overwhelming amount of public outcry against the bailout, and with members of the house being up for re-election there was a good chance that it wouldn't be passed. I for one am glad they didn't pass it. We live in a country with free market enterprise so let them fail. Not to mention the fact that such a large amount of money would take away from the funding of other things like schools, health care, etc. I saw heard a quote on MSNBC today from a representive for the U.S. treasury that said their figure of 750 billion wasnt based on actual data; they just wanted a "really large number." Can you imagine the backlash that would haven taken place if this was approved, then they turned around and asked for money?

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    Quote Originally Posted by lpxxfaintxx View Post
    Why are you upset? It's a GOOD THING the bailout didn't pass. How do you think the government is going to pull $700 billion out of their ass? This bailout plan could have provided short term relief, but in the long-term, it's only setting up the economy for something even worse. We need to find the problem and fix it, not just inject imaginary money into our economy.
    Actually its bad ether way it goes. If it passed/passed because they will revote on it then we pay more taxes.

    But if it stays unpassed then anything bank/credit wise is going to suck. Peoples limits on their credit cards will go down and freeze.
    Bring Back BWHacks!

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    The bailout is totally unnecessary, and if it does pass it will be the single biggest theft of tax payer money in history. The banks are already cleaning up their own mess by buying each other out as they go down. JP Morgan bought WaMu and today CitiGroup bought Wachovia.

    Everyone call up your rep.s and senators and tell them to vote NO on stealing 750 billion for no reason!
    -Originally posted by DUI: When Mormons practiced polygamy, at the time Mormons were being killed. Because of this many of the males were killed leaving women and children without a male to take care of them. They assigned widows to a living male... ...At no time were they having sex with these extra wives, it was a way to survive and support these families. You sicken me that you would say things like you have.
    LMAO, I guess Brigham Young shlt those 56 kids of his own out of his ass.

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    I believe they did this before
    except it was called the great depression not a buyout

    Suffering becomes beautiful when anyone bears great calamities with cheerfulness, not through insensibility but through greatness of mind.

    -Aristotle


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    Didnt the DOW drop 800 points yesterday or something?
    Kc: what waht
    DSG: in da butt
    DSG: lol
    DSG: :P
    Kc: what what!?
    Kc: IN THE BUTT
    Kc: I say what what?
    DSG: in the butt

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    it dropped 700 xD

    Suffering becomes beautiful when anyone bears great calamities with cheerfulness, not through insensibility but through greatness of mind.

    -Aristotle


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    Yea, I lost thousands in stocks yesterday. About 8,000 all together...

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    blegphor

    in a time like this i would be investing in relatively conservative stocks. if you want to be aggressive and know how to analyze a stock in the areas of how good it looks in the areas of fundamentals, technicals, and news on the street, then there is still money to be made in this market. There are some groups (like QID) that are a basket stock groups of sorts that tend to bet against some of the major markets, like NASDAQ.

    about three weeks ago i got a heads up from a friend that he was going to start phasing into stocks like GLD and QID and that i should as well. Stocks like those are what you want in a market thats going south.

    naturally I didnt really act on it and forgot. Just got a call from the same friend today telling me that he's made quite a bundle.
    stfuppercut

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    Yes I know very well how to invest. The thing is, Im still over 20,000 ahead of what I invested, so Im not complaining. Its just funny how I told myself no, against advisory assistance an now must pay the toll for it. :p

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    Quote Originally Posted by lpxxfaintxx View Post
    Why are you upset? It's a GOOD THING the bailout didn't pass. How do you think the government is going to pull $700 billion out of their ass? This bailout plan could have provided short term relief, but in the long-term, it's only setting up the economy for something even worse. We need to find the problem and fix it, not just inject imaginary money into our economy.
    That's what I thought..

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    They're just going to tweak it and revote on it, and it'll probably pass. This is just a delay.
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    Put pretty well: Commentary: Bankruptcy, not bailout, is the right answer - CNN.com

    Also, I suggest searching for Ron Paul's view on this issue on YouTube.

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    I watched Ron Paul speak about the bailout. I think he is completely right. I'm curious though as to exactly how he proposes to fix it.

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    doesnt he say let other corporations buy out the failing banks, instead of us doing it. so he says basicly do nothing, itll fix itself, because thats how the system operates, its self sufficient.

    and then he proposes cut goverment spending and all that good ****.

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