WASHINGTON (CNN) - Rep. John Boehner, the Republican leader in the House of Representatives, says the chamber will not vote again Monday on a $700 billion plan to bailout the financial services sector, after it was dramatically defeated on the floor.
Watch: 'It's not Wall Street's fault'
97 Dems voted NAY to kill bill and give Obama larger boost in polls.
And how's YOUR 401 doing today?
Thanks Peloser and Company.
ALL OF YOU REPUBS THAT ARE NOT FOR OBAMA GO TO FOX NEWS BLOG..........I'M TIRED OF READING YOUR BS...........YOU GUYS BLAME OBAMA FOR EVERYTHING WHEN IT'S THE JACK&^^5 OF A PRESIDENT'S FAULT...........
If you are against it in principle, then you must accept the consequences, because there are HEAVY consequences.
You must accept credit crunch if you are foolish to stand on principle.
-NO econmoic growth = loss of jobs and a falling dollar
-NO credit for business means no jobs, cost cutting and no innovation
-NO Student Loans = loss of skilled labor force to compete globally
-NO CAr Loans = MOre auto layoffs, part store layoffs, etc etc
-NO House refinancing loans = MOre foreclosure and falling home prices and more housiung related job losses
Are you okay with the consequences? Well?.......
It is McShame for the country First. We need deregulation so we the republicans can have more money screw the rest.
AMERICA is bankrupt. McCain needs to grow-up — you have no idea what this WAR is all about – you surrendered to the enemy long ago!
Bin Laden's 1996 Declaration of War, stated, "The financial and the economical situation of the country and the frightening future in the view of the enormous amount of debts and interest owed by the government; this is at the time when the wealth of the Ummah being wasted to satisfy personal desires of certain individuals!! while imposing more custom duties and taxes on the nation."
He's won without firing a shot! - We need Obama ASAP!
Its easy $700 Billion , more Debt deflates the US dollar so inflation still goes up! so to the Regular people it Means they do to us what the Bull does to the Cow again! My hat is off to Congress for shooting it down!
The best way to solve this economic problem is give the 700 Billion to the american adult people, then they will pay their mortgages, put money in the banks therefore Banks will have money to loan each other. WE THE AMERICAN PEOPLE should decide and this is the decition, We don't want to give money to those who wrong manage the money WE want to give the money to the american people to make this economy run. MONEY TO THE PEOPLE
The reason this Bill failed is because the Dems sought some safe-guards in the Bill to protect the American taxpayer, i.e. those companies being helped would have to make up the difference of the loan if the full amount loaned by the taxpayers was not paid back in full within five years.
The Republcians didn't want to put any regulations or binders on their fat cat friends who run these coampnies so they opposed the Bill. That's it in a nutshell. See you all in the soup line.
Too much credit is what caused the disaster. More credit will make it worse. Don't be fooled. Some of the rich people already know this. They wanted to the bailout money so that they could survive during the time that will come anyway. Credit gives the false sense of economic growth.
"If you drink too much and get a headache, don't fix the headache by drinking more. The pain goes away in due time, as long as you don't drink."
You would think that after opening the door for the worst financial crisis since the depression, the republicans would at least swallow their conservative pride and do something for the country.
You would think, but you (and I) would be wrong.
whatever happened to mccain's rushing to dc last week to save the plan? he's so patriotic he had to put the country's economic affairs first before his candidacy. oh, wait, he stayed in new york wednesday evening, appeared in couric's program, had dinner with that lady whats-her-name, went to bed at 9pm, the following morning appeared and gave a "rousing" campaign speech at bill clinton's global initiative, bill clinton praising him as a "great" man, then went to dc where he muddied the hearings.
do these republicans think i'm blind and stupid? they must have. now, with the cowardice of the press corps following mccain with their tails tucked between their legs gives me more reason to help out sen. obama by donating my money and time.
To John McCain: Thanks for nothing and the bad political theatre. Act II, scene I?
What happens next? Will more banks fail? How will the tight credit affect small business who needs credit, regular people using credit cards, car loans or home loans even if you have good credit scores?
Will more banks go under?
Yahoo! After I heard this Acorn company was in the original bail out plan, I was motified, what the hell! The plan can't be trusted. I don't care what the plan is, no company should get any special provisions. No bail out. Democrats are non starters, blame layers and Republicans can't make decisions unless they are getting a direct benefit.
What did McCain do to influence the Repuiblican votes. The request was President Bush. I think this is all about Politics.
REMEMBER BARNEY "EVERYTHING AT FRED AND FANNIE IS OK" FRANK...AND OF COURSE, MR DODD...BOTH OF THESE CHARACTERS PROFITED HANDILY IN THE PAST FROM THESE ENTITIES....NOW, WHEN IT IS GOING WRONG, THEY ARE LEADING THE CHARGE FOR CHANGE????? THEY BOTH SHOULD RESIGN...AND TAKE OBAMA WITH THEM
Oh, this could be just another Bush ploy!
Two days from now things will be fine and they will say "see the Republicans were right so vote McCain.
I thought he susspended his campaign to save the day?
Barney Frank has no shame when he can stand up there and speak about this financial crisis. He is one of the major players of the crisis along with Bush. Yet he points his fingers at everyone else, namely Bush. He is THE BIGGEST hypocrite I have seen in my entire life. The man needs to step down and quit talking or show some humility and admit he was wrong in 2003 when he said fannie and freddie were just fine. Does he think the American public are stupid, or are they?
This is the train to victory for Obama
Let's be true. HOW CAN MCCAIN CLAIM BIPARTISANSHIP IF HE CAN'T CONTROL HIS OWN PARTY???? LAUGHABLE!
OBAMA/BIDEN BY LANDSLIDE
Republicans republicans, they are at it again “cutting the nose to spite the face”. I bet you they did this to show they can stand up to Bush, but this grand standing will not stand the test of time because come November people will be wallowing in economic pain and they’ll get their share at the voting booth. This $700 billion band-aid would have bought them enough time to get past elections and they’d have blamed whoever takes over on bad leadership because with that kind of bailout, you have nothing but high interest rate and inflation to follow.
This has nothing to do with Rep or Dem. It has to do with whether we can trust Bush, McBush, Paulson, Bernaki. NO we can't. The Dems are trying to seem like the white knight, and not thinking this thru. The Republicans who have been sitting on their hands and rubber stamping ALL of Bushs projects for the last 8 years want to seem responsible to the public. Give me a break. Bush failed at EVERY business he owned before he came into office. The Reps voted for him anyway. If Gore was not ripped off for the presidency, we would not be in this mess. Paulson is a multi millionaire, he is trying to save his friends on wall street and himself. This isn't going to effect him or any of the other fat cats back east ,REMEMBER THAT ON BOTH SIDES OF THIS!! . None of the senators or congress have been in the real world for years.Who cleans the house and shops for the groceries. The wives ??? I dont think so. Probably the salvadorian maid like Rush Limbaughs, speaking of lipstick on a limbaugh pig.. The people in Washington are out of touch, ALL OF THEM.
Exactly, both the Dems and Repubs are responsible for this mess!
Neither one whats to get left holding the bag when this mess fails!
So, what do we have another mess by these overpaid senators and members of the house. Come on, all these folks need to go!
Vote them out of office! It's both the Dems/Repubs fault!
Let's hold their feet to the fire!
If your company was run the way the government is running things, everyone would be fired and the company would go belly up.
So, you ask, why ARE we putting the government in charge of the (not so)free market?
Even without the bailout, they are messing up the economy. People, this is an emergent system (the economy) that no ONE or no Organization or no Government can control.
The government should just stop monkeying around with our lives.
Bailout Plan or No, Americans are going to pay.
Bailout Plan – taxes/
No Bailout Plan – Jobs.
1. 1982: Garn-St. Germain Depository Institutions Act
2. 1987: Keating Five
3. 1999: Gramm-Leach-Bliley Act
4. 2000: Commodity Futures Modernization Act, which led to the rise of Credit Default Swaps
The common thread? John McCain was involved in all of them.