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'
I hate to say it but I have to agree with Michael Moore's email today..."The Rich Are Staging a Coup This Morning..." This package wasn't for the everyday Americans but helping certain facets to keep their money. It wasn't going to stop foreclosures or even slow them down. It wasn't going to change gas prices, healthcare, etc.
And both Republicans (2/3) and Democrats (1/4) voted it down.
The vast majority of humanity has already been experiencing shock capitalism for the last decade. Look at Argentina if you need some direction of where this might be going. Bush and Co. have given more than 700 billion to their friends at Halliburton, Blackwater and Brown and Root in Iraq, not to mention Exxon/Mobil. This was a clever attempt to loot the national coffers again before leaving office to redistribute the money to their friends on Wall Street, you know the "haves and the haves more" crowd that Bush runs with. You see, they knew this was coming, this housing, debt bubble was going to burst. Greenspan and all the brilliant blokes around him helped stack that house of cards years ago. It's all come crumbling down and they thought that we were all a bunch of suckers who would just stand there while they got millions and we got foreclosed. Think again, maybe you might have to sell that mansion in the Hamptons or run away, yes run away to one of the those Caribbean island tax havens that will soon be washed away by global warming. Nowhere to run, nowhere to hide, baby.
CNN YOUR THE MOST BIAS MEDIA. TAKE MY COMMENTS OFF BECAUSE THEY ARE TRUE. YOU KNOW THE ECONOMY STARTED BY CLINTON'S LATEST YRS. WALL STREET AND REP'S. OBAMA WAS WRAPPED IN WITH FANNY MAE ETC. OBAMA IS A SHREWED CHICAGO CON MAN. HE ALSO IS RUDE AND DISREPECTFULL. WHAT HE SHOWED INTERUPPTING MCCAIN IN THE DEBATE ,SHOWED WHAT KIND OF MORTALITY HE HAD. AMERICA DOSN'T NEED A CANIDATE WITH A FOLLOWING OF HATERS. MCCAIN WAS SMART PUTTING A HALT ON THE BAIL OUT ,BECAUSE HE WAS WATCHING OUT FOR US TAX PAYERS. HE KNEW WE SHOULDN'T BE INVOLVED BAILING OUT WALL STREETS MISTAKES THE DEMS AND REP'S. OBAMA IS A BIG JOKE.
Stock market drops over 500 points, loans not worth the paper it's printed on. how do we get out of this mess. There needs to be an infusion of cash. How stupid are some people. the reason we are in this mess is not only because of corporate greed, but the failure of individuals to understand their own financial situation. Over borrowing for homes and loans to cover their lifestyles (sounds alot like what corporate america does.) that's why we need this resolution to happen. Without this we will fall deeper into the financial abyss. You don't want any more taxes, but your willing to watch your life savings disappear overnight
Again the American people will suffer from the lack of concern by our government officials to work together. It is clear that we need to push this bill through the critical question is with what oversight. I have seen nothing but partisian bickering within both parties and once again noting is accomplished. We are on the edge of a financial crisis in this country, a great depression which will touch all Americans. Are we so shortsighted that our elected officials don't care what will happen if this is not resolved promptly and without the back stabbing political agends we have become so familiar with. Change is needed in Washington and it is needed NOW. My message to our Congress and Senate is to remember you work for the people not yourselves. We elected YOU to work out these problems our country is facing. Work together or we'll vote you all out of office. Politics as usual is not working here so work together like adults who care about his country and it's people.
I see the American way is still supreme – it's all about ME MYSELF AND I – forget the ramifications of doing nothing for your neighbours, employers, friends, etc. You selfish, selfish people – you really think this is all about Wall Street? This has global consequences not just your own back yard.
Republicans are holding for now and then The Great and Honorable Win-At-All-Cost Senator McCain will swoop in, attach his name to some amendment and Republicans will swear John McCain saved the day. Just wait and see.
Anyone else have plans to start building their Hooverville?
the GOP should be ashamed, this is a disgrace
It's apparent President Bush can't raly his own administration to vote for this bill. I'm not for bailing out wall street while the CEO pockets gets fatter but people are losing their life savings and our economy is plunging into a depression. The Republicians are useless and now that the Bush Administration has slept at the wheel, they can't vote for this bill because they are thinking about their jobs. Will someone in the Republican party please light a fire under them and push this bill through?
i for 1 am glad they voted against the existing plan. why bail out a bunch of greedy crooks. however they needed to propose a back up plan. like give low intrest loans to americans that have a household income of less than 100,000 dollars.then put money in the educstion system so we`ll have educated people running the country instead of the good old boy club. politians and lawyers are nothing more than crooks we all know that. the us goverment needs to help americans by giving garanteeed low intrest loans to buy homes with. it would save the housing crunch and would result in more jobs and help the economy while helping americans. such a no brainer.
Next, bank run~
Yes, Republicans are to blame for not giving Wall Street 700 billion dollars. Lets all say it together now.. Thank You Conservative Republicans!!
Thought Obama had his party under control? Why did 97 of them vote NAY?
All the blowhards are pointing fingers now that the vote didn't go the correct way – too many over-perked "legislators" in office for WAY too many terms. This only leads to ego-largesse (sic) and corruption by the "legislators" and a sense of disembowelment of the American taxpayers. If the constitution was ammended to limit terms for the President, then it should be ammended for all members of Congress with no "retirement benefits" aside from a "small pension" – no health care. They can go back to their real jobs as the founding fathers intended.
Despite all the whining about this bailout… what is the alternative? You right-wing reactionaries who are reflexively against it because it supposedly constrains our "freedoms", you probably would have been against the New Deal as well. If we have no adequate bailout plan, and we slide into a depression, than I advise all of you to SHUT UP and not offer us any more brilliant advice. How much "freedom" will we have if there is a depression?
I also didn't like the original Bush plan. How many of you who are against the actual plan being voted on today have actually processed the details of the ammended plan as opposed to the original Bush plan? I think that both the democrats and the republicans added many useful features, and the present plan is better than the original.
THIS MIGHT JUST BE A POY TO PREVENT PALIN FROM ATTENDING THE DEBATE
This is really a shame. Now this only gives McCain an excuse to try and delay the VP debate Thursday since no deal will be reached.
The Republicans got their feelings hurt by the speech Pelosi gave???? That's why they voted against it! This sounds like high school all over again! These people are supoose to be professional and leaders of America.
The bailout bill failed, and the republican Senate Minority Leader is blaming a speech by Pelosi before the vote, which is both hilarious and ridiculous. It directly implies that House Republicans are so petty that they'll vote against a bill that their president says is necessary, and that their party's candidate for president and their leadership in the House and Senate supports, something that is supposedly essential for the preservation of our economy, just because a Democrat gave a speech they didn't like
Bush has broken America
Don't worry – nothing worse could happen – Palin will rescue this country from depression by selling alaska to russia..
The Republicans got their feelings hurt by the speech Pelosi gave???? That's why they voted against it! This sounds like high school all over again! These people are suppose to be professional and leaders of America.
Everyone is now weighing in. What a joke. This was a problem that was inevitable and obvious. The time for whining about what the government does or doesn’t do is now over. The screaming should have started when the wacky subprime loans were being advertised in every newspaper. Again, Americans took advantage of a stupid and risky business practice and are now screaming for a government bailout when that practice backfires. What an incredible sense of entitlement. It's now time to allow normal economic forces to kick in and stabilize the market. We may have a few rough years but will be better off in the long run.
Don't worry McCain will ride in on his white horse and save the day, even if he has to suspend his campaign again. He is such a maveric and just what the country needs. I listened to his speech this morning with one lie after another and then he has the nerve to say what the country needs is the truth and he will tell the people the truth. He will have to stop lying about Obama if he exspects anyone to believe a word he says. I think he needs to go help prepare his little miss flub-up for the debate Thurs, night, because if they don't tell her how to answer every question she will be in real trouble!! God help her if she has to come up with an answer on her own, her hour of glory will really be over.
This will effect you: YES! I'm ok on all of those, I have a steady and secure job, no student loans, car is PAID off and I don't own a house. NO problem here. I hope home prices fall, I wanna find me a nice cheap house. To put it in perspective, IM 25 and make under 35K a year. This bill should go down in flames, just like the perpetraitors that got us into this mess!