reuters.com — WASHINGTON (Reuters) - The House of Representatives on Monday rejected by a vote of 228-205 a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase broken mortgage-backed bonds from banks...
Sep 29, 2008 View in Crawl 4
Closed AccountSep 30, 2008
deep
betheturtleSep 30, 2008
OH GREAT IT STARTS WITH AN EARTHQUAKE
Closed AccountSep 30, 2008
Hysterical actually.
Closed AccountSep 30, 2008
"it's no excuse for financial institutions who made reckless loans and skirted federal regulations by converting the loans into junk bonds. Those institutions are just as guilty as the home buyers."Banks were required by law (Community Reinvestment Act) to make those loans.The institutions that converted those loans into junk bonds would be Fannie Mae and Freddie Mac.
jroxzSep 30, 2008
We'll end up paying regardless which way you slice it. I'd much prefer the lower percentage of those retirement account loses as opposed to the complete slavery of our children. The amount of money to save the former directly is significantly less than the bailout.
wunkstaOct 1, 2008
i think its dumb to think that one party, one person or one group is to blame for thisthe collapse of america has been going on for a while and been caused by a multitude of factors, the biggest of which are corporate interests superseding the publics interests and general apathy/ignorance within the public itself
roguegeniusOct 3, 2008
No it's not. It's only dumb to blame the democrats. This really is all tied to the failed concept that is the Chicago school of economics. That has been adopted with almost religious fervor by the right. It's failed them and it's failed the rest of us as well. The democrats surely haven't helped, but this whole collapse is the fault of the Republican party.