Bailout plan NOT pwned!

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Count Chocula
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Bailout plan NOT pwned!

Post by Count Chocula »

This from Yahoo! Finance:
2:00 pm : The current Emergency Economic Stabilization Act vote tally comes at 207 for the plan, 226 against, with one vote remaining. A total of 218 votes were needed to pass the vote. House members can still change their vote, and as a result the number of yes votes did tick a few points higher.

Democrats voted 141 for, 94 against. Republicans voted 66 for, 132 against.

All three of the major indices hit multi-year lows. At session lows, the Dow, Nasdaq and S&P 500 were down 6.3%, 6.7% and 7.2%, respectively. The major indices currently post massive losses, although they have recovered quite a bit from the knee jerk reaction decline.DJ30 -487.49 NASDAQ -128.85 SP500 -68.31 NASDAQ Adv/Vol/Dec 540/1.37 bln/2333 NYSE Adv/Vol/Dec 191/705 mln/2642
Indices are recovering, but are still down 4% - 6%.

Interesting times indeed. Personally, I'm glad it failed to pass the House vote.
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Admiral Valdemar
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Post by Admiral Valdemar »

The Dow is apparently going down even more. There was one market trader stating last week that if this bill didn't pass, it wasn't worth coming in Monday and the FTSE could lose 1,000 points.
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Post by aerius »

The gavel has been struck to end voting. The bill is dead and the markets are taking a shit.
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Post by RedImperator »

aerius wrote:The gavel has been struck to end voting. The bill is dead and the markets are taking a shit.
It's hardly dead. The leadership will twist arms and hold another vote today or tomorrow. They'll almost certainly use the stock market's freefall to try and stampede the herd.
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Post by Kodiak »

Can someone with an understanding of the various aspects of the situation sum-up what this means? Will there be another attempt at a deal, or are we now thoroughly hosed. I've heard commentators say that this is the "last chance" and now it's failed? What's next?
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Post by Admiral Valdemar »

It would've been better having Morgan Freeman announce the failure from the Oval Office. He could use the analogy of a giant space rock being missed by nukes.

Totally original idea. But I think people would listen to him when he said not to panic.
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Post by MKSheppard »

I like the breakdown of the votes for and against the bill by party.
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Post by Admiral Valdemar »

MKSheppard wrote:I like the breakdown of the votes for and against the bill by party.
It seems the fear of socialism from the GOP trumps the fear of being screwed by big business from the Dems.
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Post by MKSheppard »

The final tally was 207-226, with Democrats supporting it 141-94, while Republicans opposed it 66-132.
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Post by Kodiak »

MKSheppard wrote:I like the breakdown of the votes for and against the bill by party.
is there a link to that?
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Post by aerius »

RedImperator wrote:It's hardly dead. The leadership will twist arms and hold another vote today or tomorrow. They'll almost certainly use the stock market's freefall to try and stampede the herd.
Let me have my 5 minutes of joy, damnit!
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Post by Admiral Valdemar »

Kodiak wrote:
is there a link to that?
Yup.
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Post by Kodiak »

Admiral Valdemar wrote:
Kodiak wrote:
is there a link to that?
Yup.
uh, u linked to something not the breakdown
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Post by Admiral Valdemar »

Kodiak wrote:
uh, u linked to something not the breakdown
Check the first post.
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Post by Kodiak »

Admiral Valdemar wrote:
Kodiak wrote:
uh, u linked to something not the breakdown
Check the first post.
my fault, i misunderstood. I was hoping for a count of how each congressman voted, specifically my own.
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Post by Falkenhayn »

As of right now...The BBC would like to apologize for the following

MARKET DATA - 19:38
UKFTSE 100 4818.77down -269.70 -5.30%
Dax 5807.08down -256.42 -4.23%
Cac 40 3953.48down -209.90 -5.04%
Dow Jones 10688.18down -454.95 -4.08%
Nasdaq 2050.04down -133.30 -6.11%
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Post by Admiral Valdemar »

Kodiak wrote:
my fault, i misunderstood. I was hoping for a count of how each congressman voted, specifically my own.
Not found any specific breakdown. Only the general party lines. Still, if this is up for another vote (and another, and another till it passes) then it probably doesn't matter.
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Post by Count Chocula »

http://www.house.gov. As of a minute ago, their servers were getting hammered. Ya might need to wait a while for their staff to get the vote tallies on the site, and for traffic to die down a bit.
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Post by J »

Falkenhayn wrote:As of right now...The BBC would like to apologize for the following
It's clearly the fault of all those short sellers who are causing panic and driving down the share prices of good, wholesome financial companies. Oh, wait, shorting has been banned in the US, UK, Australia, and some others I can't remember.


But for once, the US government does the right thing, for now.
Let's all hope they don't find a way to screw it up.
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Post by MKSheppard »

This was a real massive democratic fail; 40% of all house democrats voted to kill it.
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Post by The Duchess of Zeon »

Admiral Valdemar wrote:The Dow is apparently going down even more. There was one market trader stating last week that if this bill didn't pass, it wasn't worth coming in Monday and the FTSE could lose 1,000 points.
I've heard the worst-case scenario for the states is a loss of almost 3,000 points, down below 8,400 or so (!). Third of the market's value wiped out.
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Post by Count Chocula »

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Post by J »

RedImperator wrote:
aerius wrote:The gavel has been struck to end voting. The bill is dead and the markets are taking a shit.
It's hardly dead. The leadership will twist arms and hold another vote today or tomorrow. They'll almost certainly use the stock market's freefall to try and stampede the herd.
If I remember my procedures correctly, the only way they can do a re-vote on the bill is if someone on the prevailing side tables a motion to bring it up for reconsideration. This did happen but the motion was almost immediately withdrawn, so this version of the bill I think, is dead. It's been a few years so correct me if I'm wrong.
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Post by Tribun »

Obama has reacted to these news.
I again feel that he reacts like a president should.
What he said
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Post by Tribun »

Sorry for another post, this just in.
Contrast it to McCain's reaction:
His reaction
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