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sgrooms
10-01-2008, 12:06 AM
Interesting...will it pass??



http://www.reuters.com/article/newsOne/idUSTRE48T8UP20081001

Sonnabend
10-01-2008, 06:26 AM
My guess is no.

sgrooms
10-01-2008, 09:02 AM
Actually, I think it will. They have included tax breaks for business and increased FDIC insurance levels to 250k.

I cannot for the life of me figure out why they are so intent on cramming this down our throats. It is looking more and more like they have something to bury and hide by giving the money away. It is absolutely despicable.

Unfortunately, I am pretty sure I already knew that. I wonder if you can protest taxes long enough to die and not have to pay for any of it.

linda22003
10-01-2008, 09:20 AM
Unfortunately, I am pretty sure I already knew that. I wonder if you can protest taxes long enough to die and not have to pay for any of it.

Sure. Then they'll take it from your heirs, with penalties.

Lager
10-01-2008, 10:25 AM
Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

sgrooms
10-01-2008, 10:28 AM
Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

The ambulance district I work for does keep more than that in our account, but we have purchased extra insurance (our expense) to cover the money.

Beats the shit out of me.

sgrooms
10-01-2008, 10:28 AM
Sure. Then they'll take it from your heirs, with penalties.

The callous side of me says "who cares, I'm dead" but I probably shouldn't be that way.

linda22003
10-01-2008, 10:40 AM
Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

Lager, this would be more of an issue for small business accounts than for individuals.

Phillygirl
10-01-2008, 11:38 AM
Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

As someone else said, it is an issue for small businesses, and some people like to keep their assets liquid. They are trying to prevent a run on the banks, because most people didn't really think too much about having over the limit in one particular bank until they started to collapse. It's more of a confidence issue than anything else for the majority. But the lack of confidence definitely affects the market and the banks.

Doc Savage
10-01-2008, 12:42 PM
Called the offices of both my Senators. Asked them to vote NO!!!! If not the next bailout they will get is out of thier Georgetown townhomes and back to the prarie.

LibraryLady
10-01-2008, 12:46 PM
Fox just said the Senate votes are there.

Doc Savage
10-01-2008, 01:41 PM
McCain is voting for it with the earmarks. I seem to remember somthing in the debate about vetoing any bills that came to his desk with earmarks.

Who is the libaratarian candidate again?

LibraryLady
10-01-2008, 01:48 PM
New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)

http://www.floppingaces.net/2008/10/01/earmarks-slipped-into-700bn-bailout-bill/

linda22003
10-01-2008, 01:55 PM
Oh, I don't believe it. Even by their incredibly low standards, this is nuts.

cat714
10-01-2008, 06:01 PM
The bill is better than the previous one, but I still don't like it. I'm watching some of these senators talk and Schumer needs to just shut the f*ck up...ass kisser.

LibraryLady
10-01-2008, 06:05 PM
http://i24.photobucket.com/albums/c12/dtharman/Obama/scream.jpg

Phillygirl
10-01-2008, 06:08 PM
Dear God help us.

BadCat
10-01-2008, 08:30 PM
Dear God help us.

Really.

I noticed on the news that it was an awful lot of Dimocrats who seemed to be up there talking. They had Boxer and then Fiendstein. Glad I missed Schumer.

Lager
10-01-2008, 08:45 PM
As someone else said, it is an issue for small businesses, and some people like to keep their assets liquid. They are trying to prevent a run on the banks, because most people didn't really think too much about having over the limit in one particular bank until they started to collapse. It's more of a confidence issue than anything else for the majority. But the lack of confidence definitely affects the market and the banks.

Thanks all who answered. I've never heard of this as an issue that would likely sway folks into supporting the bail out. It seemed to come out of nowhere, but it does seem like a good idea temporarily to help stave off a serious bank run.

LibraryLady
10-01-2008, 09:01 PM
The voting is on in the Senate.

I think it was Boxer (all those California Lib women look alike) said she had received 95,000 calls and emails and 85,000 were opposed.

sgrooms
10-01-2008, 09:47 PM
It is done. They have fucked this nation for the forseeable future. The house is going to take this up tomorrow, and we can only hope and pray they shoot it down.

I have never been more pissed than I am right now. This congress is going to shove this big shit sandwich down our throats whether we want it or not.

What a bunch of dumb fucks. I just am flabbergasted.

Lager
10-01-2008, 09:58 PM
This congress deserves its approval ratings. We no longer have a political party that supports limited government. The way every member of national government handled this, from the President on down, was an embarrassment. So you are telling me that all it took to sway members was a few minor tax cuts, thrown in like little kiddies treats, to sweeten the deal enough for members who supposedly had "grave" misgivings about the power or precedent this gives the federal government? It makes their initial rejection look childish.

LibraryLady
10-01-2008, 10:09 PM
Here's the quick list of the senators who voted NO on bailout/economic rescue.


Allard (R)
Barasso (R)
Brownback (R)
Bunning (R)
Cantwell (D)
Cochran (R)
Crapo (R)
DeMint (R)
Dole (R)
Dorgan (D)
Enzi (R)
Feingold (D)
Inhofe (R)
Johnson (D)
Landrieu (D)
Nelson (FL) (D)
Roberts (R)
Sanders (I)
Sessions (R)
Shelby (R)
Stabenow (D)
Tester (D)
Vitter (R)
Wicker (R)
Wyden (D)

Louisiana must have made a LOT of calls.

Lager
10-01-2008, 10:15 PM
Holy Shit, even Bernie Sanders, a socialist, thought the plan was unfair!

Lager
10-01-2008, 10:20 PM
McCain, who stated he would veto any bill with earmarks, once he was President, just voted yes on a bill loaded with earmarks to help it pass.


And tucked away in the tax provisions is a landmark health care provision demanding that insurance companies provide coverage for mental health treatment—such as hospitalization—on parity with physical illnesses.



Really a bill onto itself, the mental health parity measure has been a bipartisan priority for top lawmakers in both chambers but has stalled because of disagreements again over how to pay for its estimated $3.8 billion five-year cost. In the current climate, that seems to be no longer a stumbling block, and if the Treasury plan becomes law, it will also.



link: http://www.politico.com/news/stories/1008/14161.html

Hawkgirl
10-01-2008, 10:22 PM
It is done. They have fucked this nation for the forseeable future. The house is going to take this up tomorrow, and we can only hope and pray they shoot it down.

I have never been more pissed than I am right now. This congress is going to shove this big shit sandwich down our throats whether we want it or not.

What a bunch of dumb fucks. I just am flabbergasted.

Couldnt' have said it better myself...I am furious that they had the AUDACITY to go against the people's will!

I am also furious with McCain. This just blurred the line between he and Obama. He may not be worthy of my vote.

sgrooms
10-01-2008, 10:24 PM
Both of my senators voted for this. I am amazed. I expect McCaskill to do it. Kit Bond I am suprised about. He won't get my vote again.

I am just amazed at how bad they have decided to screw our country. More money after bad. More money, more money, more money.

What about the baby boomers coming in? What are we going to do about THAT debt that the Social Security Trust Fund can't pay?

Our nation is done. Socialism is here and we better get used to it.

Hawkgirl
10-01-2008, 10:25 PM
this is the beginning...the auto industry will need a bailout soon....:rolleyes:

Lager
10-01-2008, 10:26 PM
I think you are a little late, while our attentions were diverted, they got one.

BadCat
10-01-2008, 10:29 PM
Damn.
Oh well, time to bombard the House with emails and phone calls.

jawilljr
10-01-2008, 10:34 PM
Senators voting nay on bailout bill (http://www.c-span.org/pdf/Senators%20Voting%20Nay.pdf)

This makes me feel a little bit better. Both of my senators voted nay... Cochran and Wicker (Mississippi). They are both going for re-election. Thank god I will be voting for Republican's for the Senate.:D

Jerry