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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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House appears to reject massive bailout plan
Debate prior to balloting showed deep reservations about $700 billion plan.
BREAKING NEWS
updated 1 minute ago
WASHINGTON - The House of Representatives seemingly rejected a $700 billion bailout today following extended debate where many members, including some who brokered the deal with it, was highly unpopular.
The preliminary vote was 185-197. Members had a limited amount of time to change their votes. Following the deadline, the margin was growing for those opposed to the measure.
Even as the electronic roll call began, Democratic and Republican leaders were uncertain about having enough votes to pass the politically unpopular plan. It's the most sweeping government intervention in markets since the Great Depression.
The bailout puts in place an unprecedented federal program to buy up rotten assets from cash-starved firms. The goal is to free up choked credit that was threatening to cause broader market turmoil.
LINK TO FULL STORY
ETA: Update on Vote...
205 (y) - 228 (n)
Message edited 9/29/2008 2:08:19 PM.
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Posted 9/29/08 1:56 PM  |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: House appears to reject massive bailout plan
This isn't good
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| Posted 9/29/08 2:02 PM |
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JRG71
*****************
Member since 5/05 5025 total posts
Name:
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Re: House appears to reject massive bailout plan
It's a 3 ring circus outside - I think I need a drink. 
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| Posted 9/29/08 2:09 PM |
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jms100303
Luv my munchkins
Member since 5/05 4789 total posts
Name:
Jennifer
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Re: House appears to reject massive bailout plan
I just saw this, WOW!!!!!
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| Posted 9/29/08 2:09 PM |
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jms100303
Luv my munchkins
Member since 5/05 4789 total posts
Name:
Jennifer
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Re: House appears to reject massive bailout plan
The dow is down 600 points now.
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| Posted 9/29/08 2:09 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: House appears to reject massive bailout plan
Posted by JRG71
It's a 3 ring circus outside - I think I need a drink.
I can only imagine...
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| Posted 9/29/08 2:12 PM |
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doormouse
LIF Infant
Member since 5/05 155 total posts
Name:
Jen
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Re: House appears to reject massive bailout plan
Ug. This is bad.
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| Posted 9/29/08 2:13 PM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: House appears to reject massive bailout plan
c'mon guys!!! work together!!!! pleeeeease!!! 
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| Posted 9/29/08 2:14 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House appears to reject massive bailout plan
Posted by jms100303
The dow is down 600 points now.
I know- I just checked
I am even getting worried now- and I was against the bail out before 5 minutes ago- now I want it
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| Posted 9/29/08 2:14 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: House appears to reject massive bailout plan
I don't even know how to feel about this.
All I know is, for everyone who's life will be effected by this (whoever's "fault" it may be) I am praying for you. 
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| Posted 9/29/08 2:14 PM |
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Ginger123
Sooo happy
Member since 8/07 1235 total posts
Name:
dana
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Re: House appears to reject massive bailout plan
this is so scary ,... who knows whats going to happen 
dow down 500
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| Posted 9/29/08 2:15 PM |
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metagefken
LIF Adolescent
Member since 5/08 679 total posts
Name:
J
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Re: House appears to reject massive bailout plan
it was defeated 228-205. the DOW is down over 500 points and NASDAQ is down 6.7%. this is getting really ugly.
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| Posted 9/29/08 2:15 PM |
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kimbalina
Bring on the glitter and bows!
Member since 6/08 15158 total posts
Name:
Kim
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Re: House appears to reject massive bailout plan
Can someone explain what happens if it is not approved.
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| Posted 9/29/08 2:16 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: House appears to reject massive bailout plan
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD 
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| Posted 9/29/08 2:21 PM |
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LIMOMx2
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Member since 5/05 24989 total posts
Name:
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Re: House appears to reject massive bailout plan
Posted by Mikismom
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD
I think I am going to throw up
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| Posted 9/29/08 2:23 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: House appears to reject massive bailout plan
Posted by 5ofClubs
Posted by Mikismom
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD
I think I am going to throw up
me too. this is awful.
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| Posted 9/29/08 2:24 PM |
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kimbalina
Bring on the glitter and bows!
Member since 6/08 15158 total posts
Name:
Kim
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Re: House appears to reject massive bailout plan
Posted by Mikismom
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD
But I thought that if it passed, it will be passed on to all of us in our taxes?? 
I feel out of the loop on this one.
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| Posted 9/29/08 2:24 PM |
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summerBaby10
let's be nice
Member since 9/07 10208 total posts
Name:
Wifey
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Re: House appears to reject massive bailout plan
Posted by 5ofClubs
Posted by Mikismom
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD
I think I am going to throw up
crap.. I was just thinking that.. my stomach is in knots.
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| Posted 9/29/08 2:24 PM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: House appears to reject massive bailout plan
Tough times...buckle up...higher taxes, high unemployment, prices going up...
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| Posted 9/29/08 2:25 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: House appears to reject massive bailout plan
Posted by kimbalina
Posted by Mikismom
Posted by kimbalina
Can someone explain what happens if it is not approved.
what happens is we go into a recession and quite possibly a depression unlike anything we have seen in our lifetime
it is NOT GOOD
But I thought that if it passed, it will be passed on to all of us in our taxes??
I feel out of the loop on this one.
we would not get any tax breaks if it was passed, IMHO a little bit of a tax increase is MUCH better than the alternative
I think this is a bill that NEEDED to be passed 
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| Posted 9/29/08 2:25 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: House appears to reject massive bailout plan
it needs re-working. It's not right yet. It needs major tweaking. It's a ton of money and historical. It needs to be right and cannot be done in that short time.
It needs to be approved soon before we spiral further though.
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| Posted 9/29/08 2:26 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: House appears to reject massive bailout plan
This is just scary, uncertain times
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| Posted 9/29/08 2:26 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: House appears to reject massive bailout plan
According to the Dow Jones Indexes website the Dow has dropped 622.29 points, a 5.58% drop.
And I'd say this all happened in the matter of 20 or so minutes.
Unbelievable.
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| Posted 9/29/08 2:27 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House appears to reject massive bailout plan
Posted by Jennie0898
According to the Dow Jones Indexes website the Dow has dropped 622.29 points, a 5.58% drop.
And I'd say this all happened in the matter of 20 or so minutes.
Unbelievable.
it was already down 300 points or so
I have been watching all afternoon
not that it makes it better
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| Posted 9/29/08 2:28 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: House appears to reject massive bailout plan
Posted by kimbalina
Can someone explain what happens if it is not approved.
This will be also known as "Black Monday".
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| Posted 9/29/08 2:29 PM |
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