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This Killed The Bailout

Filed under: Politik > Business Blitz

Just before the House was to vote on the Bush-backed bailout package, Speaker of the House Nancy Pelosi gave THIS SPEECH.

She makes some very good points!

    Posted: Sep 29, 2008 at 3:27 pm / Email this  »
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    182 comments to “This Killed The Bailout”

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    1. 101

      Re: LULU~* – Why don't you get your facts straight? This was not a repulican bill…this was a democratic bill, with Bush backing it. Thats why it failed…the democrats were even scared to back this shit up. Get your nose out of CNN's ass and into some more reputable sites.

    2. Bexs says – reply to this


      102

      Re: SquirrelLives – This doesn't matter because with a weak dollar it will still be the same as buying gas for $3.75



    3. 103

      What are you watching there is Pelosi crapping on her own cake, perez. As hard as the republicans worked to support it, and 95 democrats DIDN'T and could have, she had to stick her tongue out. She is a FOOL and hopefully will NEVER ever become president. That was really effective, wasn't it? And that POS Barney Frank who went against regulating fred and fanny because he thought everyone should have a house they own- which is STUPID. Houses are EXPENSIVE, no longer appreciate (and probably shouldn't anyway because they did't for decades) and they are a constant and unpredictable drag on your income. But ohhhh, let's give them to people who can't afford them and see what happens. Lots of taxpayers would rather go through a depression - hey, maybe it'll get the INFRASTRUCTURE fixed when we put all the unemployed to work rebuilding the US- you dems LOVE FDR (who was no hero)(and NOT on tv in 1929 like Biden said)- now you'll have jobs building bridges!



    4. 104

      Funny she doesn't mention that Dems in Congress are 99.9% responsible for Freddie and Fannie. How do people not know that? Republicans tried to avert this crisis repeatedly. They saw it coming and yet the Dems just kept blocking everything and covering the asses of their corrupt friends. Ship of fools.



    5. 105

      Stupid bitch.

    6. Galen says – reply to this


      106

      she stuck her foot in her fucking mouth, huh? btw… her false teeth are way too big for her face.



    7. 107

      huh? :)



    8. 108

      Re: Bexs – The dollar made it's biggest gain in 15 years against the British pound today. Oil moves with the strength of the dollar. Dollar gets stronger, oil gets cheaper and vice versa.



    9. 109

      Re: Cherry Bomb – Post 104
      Hear, hear!!



    10. 110

      Biden isn't a bad choice, but why couldn't Obama have picked her to be his VP? I think an Obama/Pelosi ticket looks very inviting!!



    11. 111

      Pelosi must have ass hair to excite you so much, perez. She and you have nothing to add but political bullshit. You spew "It's the last Admins fault, can't you see Barrack as the saviour". We know he has nothing to bring our great country, but wouldn't , couldn't Barrack help?
      Screaming Bush-backed bullshit, another 4 years is getting old.

      It looks like Barrack "BareBackers" want the economy to fail, just for a change. I believe our country went bankrupt during the Clinton administration. Research it wipe!



    12. 112

      She is a FUCKING HACK! It was the bloody Dems that stopped any new regulation of Fannie and Freddie that fucked this country up not "Bush economics".

      While Bush is also a piece of shit, this is not all his fault. Just wait for NOBAMMA to take credit for killing this just like he tried to take credit for wording the bill that FAILED. Fucking douche bags they ALL are!!!!!!!!!!



    13. 113

      Fannie Mae and Freddie mac should have never been priviatized… they should have let these companies go as soon as the economy was doing good way back in the day…. FDR came up with this plan when people were homeless it was to get us out of a slump…. now because no one wanted to piss off us the american people and take away our "easy" loans is why we are where we are today…. WE NEED SOMEONE THAT WILL DO WHATS RIGHT FOR OUR COUNTRY EVEN IF WE GET A LITTLE PISSED OFF ABOUT IT… enough of this pleasure pleasing politics… I would rather live in a country that i can be proud and not have to worry about going under of than have some extra change in my pocket. We are sooo fucking self centered and lazy that we don't give a rats ass about our fellow citizens… We want the easy way out. but damn if we don't have a big ass opinion about who they marry…



    14. 114

      OMG, it's all Bush's Fault. Don't blame anyone else, that motherfucker messed it up for all of us.



    15. 115

      Republicans are idiots! You do not vote for something that is going to save a country because you hate a speech! It just shows how much the republicans care about the country! Are we in frigging elementary school…this is our country's future!! Republicans are IDIOTS!!! THE SPEECH DID NOT KILL THE BAILOUT THE REPUBLICANS DID!!!!



    16. 116

      She's such a bitch. But it was Clinton who wanted everybody to be a home-owner which led to no money down mortgages & people moving to mini mansions, then they couldn't afford their payments- that had a lot to do with thissomething to do with the downfall too



    17. 117

      Re: Smirks –
      This bill wasn't about the past — it was about the future. It is tempting to want to punish people for bad judgment, to make up for CEO pay. (And people are as mad at themselves for not stopping the crisis as they are at the people who caused it directly.)

      This bill was like an art project attempting to fix a real and PRESENT problem in markets. This is not a Wall Street bailout. It is an attempt to keep money flowing through a system clogged by people's fear. Yes, we need better legislation about risk controls, and who can get a mortgage. No, we are never going to recoup money paid to CEOs in the past, unless fraud is uncovered (which I imagine it will be in some cases). The legislation wasn't perfect, but it would have been better to act than not act.



    18. 118

      1. Perez, stay out of politics. Out. Of. Your. League.
      2. One clod says one thing and the stock market goes to shit? Damn whiny House of Rep babies. "Waah, she said somethin' I din' like, I'mma fix her!"



    19. 119

      People didn't support it solely for political reasons because elections were coming up. Pelosi makes some valid points, but her speech seems largely also about concentrating blame on the Bush administration. A bigger problem is helping more people to have a real understanding of how the economy works, so that people can "vote" themselves and not be dependent on experts.

      Here's what happened: people mistakenly believed that they could erase risk by grouping it. If one person might default on their mortgage with a lot of variability, if you gathered together millions of those mortgages, the idea was that you could quantify and systematize how many people would default. You could slice up the mortgages into "tranches" (French for "slice") so that people could buy the "riskiest" and "safest" pieces. It doesn't really work that way. Risk still exists even if it is bundled. No one priced in the common investor problem of everyone holding the same securities. And no one realized that people might experience mortgage distress en masse, blowing their theory of risk tolerance in groups. (It's the equivalent of having an aerial view of a crowd and calculating that that there will be five fist fights for every thousand people. If there's a Who's-last-concert stampede, it wipes out your theory.)



    20. 120

      No one disciplined the issuers of mortgages to people who couldn't afford to take them. (This part seems far more wrong to me than what CEOs got paid because it has to do with irresponsible lending to people who don't necessarily understand what they are buying and just viscerally want to own their own home, psychologically.) These people should have been, by law, tasked with a fiduciary responsibility to those they lent to.

      It is true that the bailout would have helped banks because it would have taken these poorly performing assets off their books. But the government would have then held the debt, and would have been able to recoup some of its money. (Say the government bought 100 billion in these bad mortgages. Maybe only forty percent of them actually failed, and that's a high number. Then the government recoups 60% of its money, give or take the cost of having its money tied up for a number of years.)



    21. 121

      The bailout also helps regular people because if the banks don't have money then they can't loan it to people. People seemed to buy into the idea of "Trickle Down" economics in the 1980s when it wasn't actually happening, but can't seem to understand now how *systemic* our economy is. It's fair for there to be a correction and for people to lose some money. But recognize that it is pension funds of regular people that are losing as much as anyone. Also recognize that the government would have, as I understand it, been issued "warrants" for the companies whose bad debt they took over. (A warrant is a long-term stock option. The way a stock option works is to align the interest of the option holder with the company. Say you go to work at Apple at a time it has a a stock price of $20. You are granted options at $25, to incentivize you to want the stock price to go to $30, at which point you are allowed to buy shares at $25, giving yourself an instant profit of $5.) This means the government would have reaped the upside of any of those companies.

      What is needed is for people who really understand the economy AND really understand how to explain it AND have no vested interest to design some thoughtful legislation that actually puts controls on investors without hobbling them. The failure seems to be about punishing people retroactively, where trying to do so is far more psychologically than economically driven.



    22. 122

      From reading most of these posts I realize that Main Street America doe snot understand the details of the bailout! People it is necessary! Turn on your TV and watch Mad Money, Squak Box and learn how the economy works and why it is necessary then post your comments! If we do not have the bailout we will be heading into a long recession and untilately a depresiion. IT IS NO JOKE!!!



    23. 123

      Re: harrybalsac – Bush has been in Washington 8 years. Pelosi has been there 17years! Wake up Bush might be not be the sharpest knife in the drawer. But he can't do anything without congress or the house voting on it. They, both sides will let the country go down the tubes. Pointing the finger at the other guy all the while. Get out and vote. Send them home.

    24. LEAH. says – reply to this


      124

      It sickens me how Democrats can so easily dump everything that's wrong with our country on Bush. Poor guy, have you seen him lately? He's aged about 20 years since his term because of all the hate placed on him everyday, like he's singlehandedly responsible for our sinking economy. Because Congress did nothing wrong. Nancy Pelosi did nothing wrong. YEAH RIGHT.

      I say you only get the right to diss the bailout plan if you've got a better idea. So far I've heard nothing.



    25. 125

      kooks she is right and we did this to ourselves by being irresponsible loan holders, banks did it by giving out loans to unqualified people, wall street screwed themselves

    26. Bdub says – reply to this


      126

      Re: John_1984 – HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA … (deep breath)…HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA. If you truly believe that one person can be responsible for this mess, then please go play in traffic.



    27. 127

      Nancy Pelosi did the right thing — I don't know anyone who wanted the government to bail out these guys for failing. All the executives get to walk away with hundreds of millions of dollars themselves individually and leave the bill to the taxpayers.
      '
      All the executives need to lose their bonuses and salaries that they have been getting paid over the last 5 years and this crisis would not be in existence. If you are not aware of their payouts, please inform yourself about them.



    28. 128

      You cannot hurt the country because someone hurt your feelings!! Republicans suck !!!!!



    29. 129

      way to leave your political view out of this, and concentrate on what the country needs, pelosi. just like a democrat to blame bush for her own party's bad decisions.



    30. 130

      You stupid shit! First you post this, then you make a post claiming that republicans killed it. So it's ok that this dumb waste of space cunt killed the bill, but once you hear numbers on the republicans, it's their fault. You need to be shut down you fat fuck. Your mouth is only good when used on other guys. I highly doubt its that good too.

      Anyone with a fucking brain knows that this bitch and the democrats want the economy to fail so this other stupid shit can get "elected and save the economy". It's a shame that by the time he were able to get eleced and save us, it will be way too late and all our money would be useless because there wont be any.



    31. 131

      Babble babble bitch bitch…. what an annoying twat. You know, Pelosi needs a big ol' heaping cup of SHUT THE FUCK UP! Remember all the promise the libs made in 2004? We will be out of Iraq. We will bring morality back to the government. We will be nipple deep in unicorn shit and rainbows! Lying assholes.



    32. 132

      Re: JaimeC

      THe Democracks have the majority of the House…IF Speaker Pelosi wanted to have the bill passed all she had to do is inform the Representatives that the DNC would not fund or support their reelection bids if they did NOT vote the Party. With a Dem. majority in the house they can pass anything they want as long as the party votes 100%. Also getting up and speaking on the matter 5 minutes before a floor vote and complaining about "failed Bush economic policy" is garbage. The rules for lending were loosened up when Bill Clinton was in office so that a person making 40,000 a year could buy a 500,000 home with NO MONEY DOWN. Blame this entire fucking thing on Democrats wanting EVERYONE to be able to own a home. IF YOU CAN'T AFFORD A HOME….DON'T TRY TO FUCKING BUY ONE



    33. 133

      The subprime home loans started under Clinton. Basically, everyone was suppose to be able to get a loan. Now, Years later, Bush has to deal with the mess of that decision. But as a Republican I do think there should be regulation of the banks but not government owned banks.



    34. 134

      NICE WAY TO UNITE THE PARTIES PELOSI!!! Stupid bitch.



    35. 135

      RIGHT! A BUNCH OF REPUBES GET THEIR FEELINGS HURT AND BAIL ON THE REST OF THE COUNTRY!
      WHAT A BUNCH OF CRAP!
      THERE IS NO LEADERSHIP IN THE REPUBLICKAN PARTY AND OF COURSE THEY NEED TO BLAME SOMEONE.
      .
      REPUBES NEVER BLAME THEMSELVES!
      .
      FUCK PAULSON!
      FUCK REPUBES!
      .
      MCCAIN=BUSH2



    36. 136

      GET THE FACTS YOU BUNCH OF FUCKTARDS!



    37. 137

      The government and wall street have failed. I'm sick of all the finger pointing and passing blame…they are crooks, and we need a real leader. Too bad we have no choices in the election this year that will make a difference. UGH!!!



    38. 138

      She looks like she's on drugs the way she's moving her hands so much- she's an idiot, does she not remember voting on the budget? didn't think so. People- Bush can't do anything alone!!!!! Congress even has the last say being able to override his vetos. Does she think we're stupid?



    39. 139

      Re: PresidentLincoln – Exactly!!!



    40. 140

      Re: LULU~* – 40% of dems voted against it. IDIOT.



    41. 141

      Pelosi is NOT the right person at the right time in history…talk about failed leadership. She has no idea what she's doing.



    42. 142

      Ummm…she didn't really say anything earth-shattering. Why would that speech sway anyone?

    43. Jenmo says – reply to this


      143

      "BUSH IS THE FUCKING WORST PRESIDENT EVER!!!! "

      And exactly how many administrations have you lived through? Judging from your posts, it kind of sounds like this might be your first.



    44. 144

      Thank you so much for posting thiS. THIS IS AN HISTORIC TIME. and you are covering real news and that's why I XOXOXOX Perez!



    45. 145

      FOR ONCE, BUSH WAS TRYING TO DO SOMETHING RIGHT!! HOW SAD THAT HIS OWN PARTY DOESN'T EVEN SUPPORT HIM. HE'S THE WORST PRESIDENT EVER!
      YOU CAN THANK THE REPUBLICANS FOR ALL THE CHAOS THAT'S GETTING READY TO UNFOLD!! WALL STREET IS GOING TO CRASH AND IT'LL BE THE DEPRESSION ALL OVER AGAIN.

    46. plano says – reply to this


      146

      In the immortal words of Dan Akroyd "Nancy, you IGNORANT SLUT"

      Stupid bitch, stupid stupid stupid, no … stoopid aartard

      dried up old hag.



    47. 147

      Right or wrong is irrelevant. She is the epitome of a moron. Hmmmm, lets see, I want to piss off numerous people before a historic vote. I think she did it on purpose.

      And…..for those of you who have your heads up your ass…it was a republican who put much of the deregulation in to place and the liberals GOD..Bill Clinton who put it into action…:)



    48. 148

      This bitch oughta choke to death!



    49. 149

      Nancy should resign!
      Anytime was asked substantive questions by reporters, she resorted to dancing around the issues at hand and making sharply partisan attacks on the Bush administration and John McCain. I was shocked while watching the news when I heard her and Frank speak about reaching a bipartisan decision and then go on to bash Senator McCain. Did she not think that her remarks would be offensive to the rest of the republican senate? Did she stop to think that maybe that is the reason for congress having a "do nothing" reputation now? She needs to think before she speaks, and not be so offensive. I blame both parties for the failure of the bill, but I put more blame on the democrats.
      As the speaker of the house her job is to get people together to make decisions, but all she has done is tear the parties apart and create hatred. It is really shameful what she has caused.



    50. 150

      Also, during the clinton administration, republicans had the house majority. During the bush years, democrats have the majority. WHO DO YOU THINK MAKES ALL THE DECISIONS ANYWAYS?!?!?!!? The reason for the crisis in the first place is too many people getting loans they shoudnt have. Guess who supported that?! OBAMA AND PELOSI they both voted for it, then the wall street companies did what the democrats told them to do, and now look at what has happened. Look at who supported Fannie Mae and Freddie Mac, Obama voted for it and McCain voted AGAINST IT. those government backed enterprises are what has caused our economy to fall, not Bush.

      CHECK THE FACTS PEOPLE!!!!!! dont be stupid please, I know that the majority of you have no idea what is going on in the finance world, but take it from someone who does, obama would KILL our economy



    51. 151

      She's right, all right, nobody should give anybody that kind of money without a LOT of oversight into the expenditure of every single dime.



    52. 152

      Re: mahogany – Late to the party? SUCK IT FUCKTARD!



    53. 153

      Re: mahogany – And your mother's a CUNT!



    54. 154

      After what George Bush and the Republican Congress have done to this country with his conservative Supreme Court as backup, how can anyone be stupid enough to blame Pelosi! Any asshole who thinks her speech forced these "grown-ups" to vote against their own interests is crazy!!! They screwed up. Do they think they can go home and tell people Nancy Pelosi talked all mean to them so they voted against saving jobs and homes and lives? Without this bailout, small businesses will go bankrupt. There'll be no credit to finance purchases or inventories or salaries. There'll be massive lay-offs, and our economy will topple. The past eight years will look like a picnic compared to the future. And FYI Republicans have held a majority in Congress since 1994. For the past eight years, they let Bush do anything he wanted. The Dems only regained control in 2006. here's a little more news for you to chew on. You need 67 votes in the Senate to pass legislation. In the House, you need 290. The Dems don't have enough votes yet. But if more people feel like I do, we'll have a huge majority in Congress in January, 2009. Pelosi had to tell the truth. Good for her. No mas!



    55. 155

      she is soooo right

    56. MP says – reply to this


      156

      I can't stand this woman. She's the biggest buffoon and did nothing to help pass this bill. Unite, Speaker Pelosi, don't divide!



    57. 157

      Re: Euromongrel – Nobody should give anyone that kind of money, any time.



    58. 158

      Mr. Perez,
      Darling, Democrats have the majority in the House with 235 members. If they had 24 more democratic votes and it may have passed. 95 Democrats said "No” and 133 Republicans said "No" Hooray for Capitalism! The people who overwhelmingly (almost 100 to 1) are against this bill have spoken. A VICTORY for Capitalism, Democracy, and Freedom.
      McCain/Obama/and Bush Fail. They all voted against the people's will. Stick to the shallow end sweet pea…once again…you’re trying to swim in the deep end with the big boys, and are drowning in biased journalism. This didn't kill the bill! The bill was a bad idea. Muffin, You've become soo dull darling…where's Britney, Paris, and Lindsey? You silly little minion get back to the bublegum trash…politics does not suit you well.
      xoxo,
      SS



    59. 159

      Honestly, they are just using her as an excuse. They are not dumb enough to overlook a new program over just one person's speech. The people emailed, called, and fought against this bill tooth and nail…and the Republican legislature didn't support it at the last minute because they realized they would lose votes for McCain!



    60. 160

      Sounds like she's the one that killed the bill - NOT McCain or Bush's lack of support - IDIOT!



    61. 161

      Think of this bailout as the Titanic. The most expensive and impressive oceanliner ever built. The richest people in America are on this ship. They beg another ship to come and rescue them. The captain orders the lifeboats filled with those on the top decks and lowered to safety. The poor remain trapped like rats in the lower holds. No lifeboats for them. Just the rich get those. In other words, $700 billion is a random number. It won't satiate this monster of a crisis. They will take the money, and yell "Adios, suckers!" In a month they will demand even more. I say let the bastard sink and we will start over.

    62. Sal says – reply to this


      162

      She should have shut her big fat trap. I can not stand her…Where was she all summer Perez..when all this crap was going down???? Selling her book………………………………………………………………. So tell her to shut up and lets work together. Ask her about all her friends on Washinton. She hides but we will all find out the truth…KICK HER OUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! And for all those that say she is "right"..truly have no idea what is going on……………………………………………………………..



    63. 163

      OMG, this is unbelieveable!!The Americans again thinking there is nothing and noone else on the planet but them!!This is bigger than fatcat wallstreet bankers. It can have a catastrophic effect on the global economy, people are lossing jobs and not just the "bosses" worldwide. I cant believe the Republicans are using this as a political tool to get the little people onside. Its sickening!!Get it sorted America!!



    64. 164

      Nancy Pelosi is about the biggest asshole politician this country has ever seen. She instinctively does the opposite of what's best for the country. In this moment of crisis, instead of showing leadership and unifying the house to pass this bailout bill, she badmouths Bush and tries to score political points. Not only should this ignorant, hideous cunt be thrown out of office, she should be put in an orange jumpsuit and put in a cage for harming the American people.



    65. 165

      cunt cost me a lot of money



    66. 166

      Re: tmarie1225 – thank that dried cunt pelosi for the coming depression



    67. 167

      lynch that dried prune pelosi



    68. 168

      Just because Nancy tells them the truth…..they want to have a scape goat…..the republicans are a bunch of morons…….they made this mess…..I hope ALL THE REPUBLICANS go broke!



    69. 169

      how could anyone expect that our government actually has OUR interests in mind? with a prez like bush and a speaker like pelosi and our wonderful incompetent congress - it's no wonder everyone is pissed off.

      the scary thing is: I think that they actually represent the american people - Bush, Pelosi, Congress and all.

      i think that many of us americans are pigs - and we've got what represents us - but not all of us!

      and the republicans are just as shitty as the democrats. the democrats are just as shitty as the republicans. why are we still so fooled that one party is better than the other???!?!

      no i cannot suggest any solutions. i wish i could. instead it makes me apathetic and pessimistic, which is not good either. but why does everyone get off on simply pushing the blame onto Bush, onto the democrats, onto Wall Street, onto the CEO's? I THINK EVERYONE IS TO BLAME FOR OUR CURRENT ISSUES - including me.

      Thank you.



    70. 170

      baltimore reprazent!



    71. 171

      She didnt kill the bill….she told the fucking truth and you guys dont want to hear it……ARE U FUCKING KIDDING ME!…….these policitians are ripping us off for yearsss……..and I'm fucking tired of it…….Our economy shouldnt be rapped around a bunch of morons that "SPECULATE" whats going to happen……..OMG!!!



    72. 172

      The Republicans didnt try to avert shit!…….if they had regulations this fuckin mess wouldnt even be here…….its the assholes that are ripping us off that you need to curse out…….and the fuckin policitians have been fuckin ALL OF US FOR AWHILE……..start calling a spade a fucking spade…….start pulling some troops out of Iraq and we can use some of that 10 billion a month to fix this shit…….



    73. 173

      Fat ass to nice ass in 30 days.



    74. 174

      oh, here is one quote is just read from the Ohio State University Dept of Econ, who did a study of the housing issue:

      "the biggest losses in the mortgage crisis are not for owner-occupied
      homes, but for commercial real estate loans, and loans for houses bought as investments or built on
      speculation"

      i just thought that was interesting.

      Also, for those interesting in the real estate problems, do a google search on "Mississippi Bubble", which is about the same kind of speculation, except back in France, with investors speculating on land in Louisiana - a help on causing the French Revolution and the reason why we were able to purchase that land and have these states today.

      interesting times we're in, hey?



    75. 175

      Re: mesmart – #173
      –
      First of all, your screen name is a complete misnomer because you are not at all intelligent. You should change your name to "medumb".
      –
      Okay, try to pay close attention here. I know it's complicated but I'll try to keep it at your level and go really slow.
      –
      Deregulation is NOT the problem here. It is OVER regulation. Coercing banks to provide subprime loans to unqualified borrowers is what caused this. Brought to us by your friends, the Democrats. Markets are rational, government is not.
      –
      Nevertheless, in 2003 and AGAIN in 2005 the Republicans warned that the system was going to crash and that the taxpayer would be at risk. Guess what? Barney Frank, Chris Dodd and all the other Democrats ignored the warnings and the REGULATORY bill that McCain co-sponsored to oversee the Freddies.
      –
      I know I used a lot of big words… hopefully the TRUE explanation is not beyond your comprehension.



    76. 176

      It's so cute when Perez pretends to know anything about politics….that being said-
      The President of the United States does not spend money. The Congress does. The Bush administration sucked, and Republicans have run this country into the ground.

      BUT, the Democrats, Pelosi, and BARNEY FRANKS in particular, are to blame for forcing banks to make loans to SHIT people who can't afford them in the name of "helping out the downtrodden".

      They threatened Fannie Mae and Freddie Mac with lawsuits if they didn't keep up a certain percentage of lending to people who shouldn't have loans.
      That's what spawned the entire subprime market.

      Rewind back to 2004: Barney Franks and his cronies (one of whom ran Fannie Mae and walked away from it with 90 MILLION DOLLARS), said "THERE IS NO PROBLEM WITH FANNIE MAE, NOTHING TO SEE HERE..", and stopped a bill that would have regulated them more tightly…sponsored by none other than JOHN MCCAINE.

      So, what I'm saying is, don't believe ANY of them, they're all lying shitheads, and they all share the blame equally.

      Stick to Tom Cruise and The OC news, Perez. Leave the real stuff to the big dogs.



    77. 177

      Re: Smirks – Oh hey, I guess I should've read your comment, you just basically said what I did. yousmart, wesmart!



    78. 178

      Here is another example that what we're faced with right now, is also in the pages of history, with past super-powers consumed with greed and bad business choices. This time, it is the English "South Seas Bubble" - which coincided with France's "Mississippi Bubble":

      "By the end of September the stock had fallen to £150. The company failures now extended to banks and goldsmiths as they could not collect loans made on the stock, and thousands of individuals were ruined (including many members of the aristocracy). With investors outraged, Parliament was recalled in December and an investigation began. Reporting in 1721, it revealed widespread fraud amongst the company directors and corruption in the Cabinet."

      If anyone is interested.
      It ain't a "let's blame the democrats cause they're incompetent" or "let's blam the republicans cause they're bad" - let's just blame faulty busniess, greed and short-sighted market frenzy.
      What comes up has to come down.



    79. 179

      Re: dr_time – Hehe. That's okay. It bears repeating. Isn't Barney Frank the biggest douchebag embarrassment you've ever seen?!?! Maybe it's Pelosi. I can't decide.



    80. 180

      She is absolutely right on! Why is it wrong to state the truth? So they are just supposed to say yes to this BAILOUT and not state the obvious? W. is an idiot and everyone who voted for him shares in his blame. How the hell do you take a $5 TRILLION deficit and turn it into the most devasting economical failure ever (next to the GREAT DEPRESSION)? Oh but wait, we shouldn't talk about it, no one should be accountable for it just shut up and vote yes…just hand over $700 billion. BS! That is why the economy is where it is now because the Neo Cons want to be able to do whatever they want, lie, cheat, steal, start wars, etc. and no one is allowed to call them out when they screw everything up. I think we should be talking about this everyday. Bush should have been impeached a long time ago…incompetent twit!!!



    81. 181

      Re: KERNBUZZ –
      Oooh your name calling shows how oh so intellegent you are..only "douchebags" call women "cunts", thats so tacky. You have no idea about the stock market, or whats going on in our economy, so instead of making an intellegent post you just do the typical name calling of a twelve year old. Go post something of substance or just shut the fuck up..name calling means your tiny little brain can't come up with anything else to say!



    82. 182

      This is a very well-prepared speech, but what good does it do to point fingers right now? The most important thing to do is to figure out the best way to ride out this recession. Do I think that Bush has done a wonderful job as president? NO. In fact, I disliked Bush from the beginning (Patriot Act, anyone?), before it was "cool." But he is not solely to blame for this. Anyone who knows anything about economics knows that recessions are NORMAL; the market fluxuates!! People are uninformed about economics and are buying into the scare. Ex. We had the largest point drop in the stock market's history yesterday, but what the news isn't telling you is that percentage-wise it is NOTHING like Depression-era drops. We had a higher number to start off with, so it makes sense that the drop could be higher but the effects less significant than other drops.
      I do feel that this is a very serious issue,though, and people need to become informed (think textbooks, not the news-it's all biased) and try to figure out solutions instead of playing the blame game.

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