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Now it gets really messy - Senate Rejects $700bn Bailout!

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Now it gets really messy - Senate Rejects $700bn Bailout! Empty Now it gets really messy - Senate Rejects $700bn Bailout!

Post by Big_Bad_Bob Tue Sep 30, 2008 3:58 am

According to BBC News.

Tend to agree with their decision actually, but this is going to cause chaos.

FTSE below by 4,000 by this time tomorrow?

Anyone old enough to remember the Great Depression? Probably not, but plenty will have read about it.

Farkin' financial farkers. They'll take us all down with 'em.
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Post by Basil Tue Sep 30, 2008 4:01 am

Who needs to remember the Great Depression? - looks like we've got the real thing visiting us some time soon pale
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:03 am

The Dow's already dumped 5% of its value today.

Power to add to that methinks.
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Post by Basil Tue Sep 30, 2008 4:05 am

Arms being twisted on Capitol Hill according to the Beeb. And, I daresay, a few necks being rung too!
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Post by JKLever Tue Sep 30, 2008 4:06 am

What's the likely knock on effect in the UK?
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Post by LeFromage Tue Sep 30, 2008 4:07 am

Anyone win the Euro Millions this week? That £144 million could've come in handy...
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:08 am

JKLever wrote:What's the likely knock on effect in the UK?

There's no money in the world economy for banks to lend to each other.

The banks have nothing to lend to anyone else, including business and you and I.

The world economy effectively grinds to a halt and we're all farked!
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:09 am

Dow down 200 points (about 2%) in the last 40 seconds!!!! Laughing
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Post by JKLever Tue Sep 30, 2008 4:15 am

Big_Bad_Bob wrote:
JKLever wrote:What's the likely knock on effect in the UK?

There's no money in the world economy for banks to lend to each other.

The banks have nothing to lend to anyone else, including business and you and I.

The world economy effectively grinds to a halt and we're all farked!

I've got a nice big garden. We'll be back to grow your own then....
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Post by Basil Tue Sep 30, 2008 4:20 am

Dow plunging - hang on guys, it's going to be a bumpy ride!
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:44 am

JKLever wrote:
Big_Bad_Bob wrote:
JKLever wrote:What's the likely knock on effect in the UK?

There's no money in the world economy for banks to lend to each other.

The banks have nothing to lend to anyone else, including business and you and I.

The world economy effectively grinds to a halt and we're all farked!

I've got a nice big garden. We'll be back to grow your own then....

Now it gets really messy - Senate Rejects $700bn Bailout! Gon99c
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Post by JKLever Tue Sep 30, 2008 4:45 am

Felicity Kendall !!!
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Post by furriner Tue Sep 30, 2008 4:46 am

Watching de ride.
jawdrop
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:48 am

Obama trying to make political capital out of it. Rolling Eyes
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Post by furriner Tue Sep 30, 2008 4:50 am

Might as well.
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:51 am

Hey-ho.

Off to a cricket club committee meeting.

Takeovers and bailouts to be discussed there as well by all accounts in a nice symmetry with events in the real world.

See you later by which time capitalism may have collapsed!
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Post by Big_Bad_Bob Tue Sep 30, 2008 4:53 am

furriner wrote:Might as well.

Risky strategy though.

There's plenty that won't like the timing and tone of that speech.
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Post by Chivalry Augustus Tue Sep 30, 2008 4:55 am

I'll take 5 years of poverty for the opportunity to walk past the IB obsessed graduates, dog in tow as they beg in Vic Centre. Makes me laugh how banks expect to be bailed out at the first sign of trouble - wonder how many people they've destroyed in the past month alone?
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Post by furriner Tue Sep 30, 2008 5:03 am

Big_Bad_Bob wrote:
furriner wrote:Might as well.

Risky strategy though.

There's plenty that won't like the timing and tone of that speech.

The visceral response of the 'common man' to the bailout plan (no I do not have any numbers or links) has surprised me; it's like a freakin inferno of resentment against the banking system.

For now people do not seem to understand that this crisis could eat them alive in six months or less; for a lot of people it is a massive f*ck you to the wall Street types.

So Obama cannot lose if he grandstands against the bailout. Elections due much before the full impact will be felt.
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Post by furriner Tue Sep 30, 2008 5:06 am

Pelosi getting a bit of stick for allegedly derailing the bailout. Of course she's blaming the Repubs. Very Happy

The BBC talking head summed it up for me - all the representatives wanted the bill to go through, but a lot just did not want to be seen to vote for it!
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Post by JGK Tue Sep 30, 2008 7:18 am

Seriously, can Amercians be any stoopider.

In any case, there's no easy way to say this other than "we're DDDDOOOOMMMMMEEEEDDD".

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Post by tac Tue Sep 30, 2008 7:21 am

Farkin s0ftc0ck Republicans vote 2 to 1 against the bailout. Try to shift the blame to the Dems and a speech by Pelosi . . . what a pack of inbred, racist, cockgobbling QUNTS!
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Post by Lara Lara Laughs Tue Sep 30, 2008 7:54 am

Yup. The GOP didn't want to piss of their tax cut electorate so largely voted
Against and hoped the democrats would carry it and take the blame for the burden on the taxpayer. Dems saw it coming and also voted against. Politiking getting in the way of sensible decision making as usual.

If it doesn't happen now the taxpayer's going to lose more in the long run anyway.
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Post by skully Tue Sep 30, 2008 8:18 am

SO the farkin US Senate rejects a $700 billion bail-out that may have given some stability to world markets and then the Dow loses $1.1 Trillion in value and could go way way lower.

Noice Qunts.
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Post by Bradman Tue Sep 30, 2008 12:32 pm

I love the anonymous Republuican staffer who claims to have crunched the numbers and knows for sure Pellosi's speech cost them excatly 12 votes and knows which votes they were. Now there's a guy who knows how to subtract 205 from 228 and spin like Warnie.
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