Financial Meltdown
Bailout back on drawing board
WASHINGTON — In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, leaving both parties and the Bush administration scrambling to pick up the pieces. The Dow Jones industrials plunged 777.68 points, the most ever for a single day.
Richard Drew/AP
Trader Thomas Cannizzaro works on the floor of the New York Stock Exchange on Monday afternoon. Fear swept across the financial markets Monday after the government's financial bailout package failed in the House of Representatives.
"We need to put something back together that works," a grim-faced Treasury Secretary Henry Paulson said after he and Federal Reserve Chairman Ben Bernanke joined in an emergency strategy session at the White House. On Capitol Hill, Democratic leaders said the House would reconvene Thursday, leaving open the possibility that it could vote later in the week on a reworked version.
All sides agreed the effort to bolster beleaguered financial markets could not be abandoned.
But in a remarkable display Monday, a majority of House members slapped aside the best version their leaders and the administration had been able to come up with, bucking presidential speeches, pleading visits from Paulson and Bernanke and urgent warnings that the economy could nosedive without the legislation.
In the face of thousands of phone calls and e-mails fiercely opposing the measure, many lawmakers were not willing to take the political risk of voting for it just five weeks before the elections.
The bill went down 228-205.
Previous story
Bailout breaks down; Despite 11th-hour efforts, leaders unable to agree on economic rescue plan, published 09/26/08
Stocks started plummeting even before the vote was over, as traders watched the rescue measure going down on television. The final stock carnage was 777.68 points, far surpassing the 684-point drop on the first trading day after the Sept. 11, 2001, attacks.
The legislation the administration promoted would have allowed the government to buy bad mortgages and other sour assets held by troubled banks and other financial institutions. Getting those debts off their books should bolster those companies' balance sheets, making them more inclined to lend and ease one of the biggest choke points in a national credit crisis. If the plan worked, the thinking went, it would help lift a major weight off of the national economy, which already is sputtering.
Hoping to pick up enough GOP votes for the next try, Republicans later Monday floated several ideas. One would double the $100,000 ceiling on federal deposit insurance. Another would end rules that require companies to devalue assets on their books to reflect the price they could get in the market.
In the meantime, Paulson said he would work with other regulators "to use all the tools available to protect our financial system and our economy."
"Our tool kit is substantial but insufficient," he said, indicating the government intended to continue piecemeal fixes while pressing Congress for broader action.
In the House, "no" votes came from the Democratic and Republican sides of the aisle. More than two-thirds of Republicans and two-fifths of Democrats opposed the bill. Several Democrats in close election fights waited until the last moment, then went against the bill as it became clear the vast majority of Republicans were opposing it.
In all, 65 Republicans joined 140 Democrats in voting "yes," while 133 Republicans and 95 Democrats voted "no."
Sen. Chris Dodd, D-Conn., said there was scant time to reopen legislation that was the product of hard-fought bipartisan negotiations.
"What happened today was not a failure of a bill; it was a failure of will," said Dodd, the Banking Committee chairman. "Our hope is that cooler heads will prevail, people will think about what they did today and recognize that this is not just scare tactics. It's reality."
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Comments
This article has 76 comment(s)
Posted by ginj on September 30, 2008 at 1:38 a.m. (Suggest removal)
Any vote taken in DC involves politics to think otherwise is avoiding the obvious. As far as this bill is concerned the Democrats had enough votes to pass this bill by themselves. They didn't so don't say it's the Republicans fault. In any case what in the world would make anyone think our Congress can save Wall Street, when they can not even balance their own budget?
Posted by NativeSon on September 30, 2008 at 4:47 a.m. (Suggest removal)
George W Bush says we need to bail out wall street to stabilize the economy - in his seven and a half years in office he has not been right once.
So, why even consider that this is the ONE time that he is right?
We need a bail out like we need flatulence in church.
Posted by moonpie on September 30, 2008 at 6:26 a.m. (Suggest removal)
"Hoping to pick up enough GOP votes for the next try" this witch couldn't even get enough of her own party to vote for it. She could have passed it with her guys voting all yes. Maybe they see the pork in there, the inflated property values(didn't we learn anything about this yet, giving 20million to ACORN? Look them and it up, it was in the bill!
The treasury secetary and Bush were asking for what these mortgages would be worth when or if the market comes back. WHAT?! ARE YOU KIDDING ME. That along inflated the money required by 50 to 75%! Paulson is slapping the backs of his business colleagues. Hey Mr Bush we're paying you until Jan 09 you think you could get your head out of the sand and watch our money better?? Our government is out of whack with the people. The people stopped this and illegal immigration reform. We need neither Barack or McCain, we need a shake up. Man a 3rd parth guy could make a run this year I think.
Posted by JohnS on September 30, 2008 at 7:42 a.m. (Suggest removal)
I like the idea of giving them 150 billion and let's see how that works out first. Come back next quarter for more if needed.
Posted by selsed on September 30, 2008 at 8:08 a.m. (Suggest removal)
Barney Frank needs to look within his own party to see whose "feelings" were hurt. Jesse Jackson, Jr., one of Obama's national campaign chairs, also voted NO yesterday. Calling the defeat of the bill the Republican's fault is just plain political propaganda. Here's a bailout idea: let's take all the salaries, perks, expense accounts and pension plan money given to the do-nothing but talk Congress and help hard working people keep their jobs and homes.
Posted by sdr35hw on September 30, 2008 at 8:19 a.m. (Suggest removal)
I will vote for Ketner. Brown believes he has a safe seat. We can send Ketner home in 2010. I cant believe Brown would spend this borrowed money to make whole these companies that did not measure risk/reward in marketing these financial products. I guess this means real estate in the Hamptons takes a hit. And that three weeks in the Carribean and the month in Paris will have to be postponed. There was a sound bite this AM on the radio from a trader, using his best Jersey accent,"We need the money, just give it to us." I thought that summed it up nicely.
Posted by crankyyankee on September 30, 2008 at 8:32 a.m. (Suggest removal)
Two things I am absolutely sure of and that is all of the incumbent politicans running for office will be re-elected and if they approve spending up to $700 billion on the bail out they will spend every dime!
Posted by msplacedinsc on September 30, 2008 at 8:53 a.m. (Suggest removal)
BLAH, BLAH, BLAH, BLAH.....the majority of posters are like politicans, blame Republicans, blame Democrats, blame Somebody? Please!!! Let's not fix the problem. I sure hope you folks out there who blame the democrats have plenty of money tucked way under your mattress? I hope you democrate posters have enough holes dug in the backyard to hide your money? Cause you'll need it....America can only last so long until this situation is resolved, if it doesn't life as we know it will get real hard?
Posted by flinsc on September 30, 2008 at 9:02 a.m. (Suggest removal)
Everyone can’t have everything. We are getting soft. Ties in little league games, no playing tag, pushing kids through school that should stay back, forcing colleges to take kids that should not go. It has turned into making everyone feel good about them, but you know what, not everyone will have everything. Some people are in jobs where it they can’t afford a house. Some people work hard, earn it, and purchase a house. By trying to bend the rules, change them, or artificially elevate a person, that changes the game. There will be people that succeed, and people that fail. There will be people that work at a fast food restaurant, and will have to rent. There is nothing wrong with that. Just like there is nothing wrong with letting banks, mortgage companies, and investment firms fail. Stop trying to save everyone. We make choices; people have to live with it. What happened to working hard, and doing what you can to achieve. Stop handing out things to people. You really want Obama to win? Think the mindset will change? Start handing out even more to people and see what happens. There will be no accountability. Why work hard when I can get health insurance, housing, and food for doing nothing. We are building a culture of weakness, and the rest of the world is catching up.
Posted by dreyn on September 30, 2008 at 9:03 a.m. (Suggest removal)
I couldn't help but contrast the whining little 'woe is me' message from our junior senator from Arizona, Lindsay Graham, with Sen. DeMints' action representing his constituents. Please, please, please, vote Graham out in November! McCain will find him a job doing something-let's just get him out of SC.
Posted by dawhetsell on September 30, 2008 at 9:14 a.m. (Suggest removal)
Why don't they take the billions in bonuses that all these people got from selling all those bad loans for greed. I think those bonuses for the last 15 years would be enought to bail out all the finacial companies with the money that was earned illigaly and caused this problem to begen with.
For your information.
“Under [Bill] Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton’s secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low- to moderate-income borrowers by the year 2001. Instead of looking at ‘outdated criteria,’ such as the mortgage applicant’s credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named ‘Caylee.’ Threatening lawsuits, Clinton’s Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn’t a joke—it’s a fact. ... In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration’s affirmative action lending policies as one of the ‘hidden success stories’ of the Clinton administration, saying that ‘black and Latino homeownership has surged to the highest level ever recorded.’ Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses. A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it’s gone off.” —Ann Coulter
Posted by iloveohiointhesummer on September 30, 2008 at 9:22 a.m. (Suggest removal)
"America can only last so long until this situation is resolved, if it doesn't life as we know it will get real hard?"
Comments like this kill me. Maybe life as we know it SHOULD change...ever thought about that?
Maybe people will start to reconsider the difference between a need and a want and will not be so hasty in procuring a loan for things they cannot afford. I'm sure people will be dying because they can't buy a new lexus or take a vacation to Rio....boo hoo. Regarless of the situation, the people who are practical, resourceful, and fiscally responsible will always fare better in tough times.
I'm not up to my neck in personal debt, I have a little in my savings account, I don't drive new cars, and I don't live an extravagan lifestyle. I could care less if Wall Street fails. Sure my 401k and Roth will go to the $hitter, but they'll climb back out down the road.
I'm glad enough members of the house grabbed their nads and finally voted with their constituents(and their jobs) in mind.
you may attack.
Posted by iceman1978 on September 30, 2008 at 9:52 a.m. (Suggest removal)
The downturn in real estate which is now a meltdown has been a long time coming. I knew as early as 2003 that this was coming. People's biggest mistake was when they turned their house into an ATM machine.
Posted by guidedbystewart on September 30, 2008 at 10:23 a.m. (Suggest removal)
Again, people have their ideology so far up their backsides that they are unable to think rationally. OK, it seems like some of you need a class on Housing Crisis 101. I hate to sound condescending, but from some of you guys post, ignorance is still rampant on this site!
While the Community Reinvestment Act might have had a little to do with it, it is not the main reason for the current crisis. It is because of one word, GREED! I assure you, that it was not just poor people that were considered for subprime mortgages, but young first time buyers, people trying buy houses above their means, or as in California, anyone that was not rich enough to afford a home because the market there was so over inflated! There are many culprits to this crisis! There are the appraisers that inflated the market, just so people could get a bigger loan than the property was worth. There were the incentives for the loan officers to “stretch the truth” in order for them to get a bigger commission. There were the loans themselves, such as the variable interest “arm” loans that were based on the market growing 30% each year (I wonder how many people that bought houses on DI bought into that one!), so eventually the person could refinance at a lower rate once they built some equity, which would never happen because they were just paying on the interest all along. The government is at fault for deregulating the industry, and allowing these such practices to happen. Well this is a simplification of what went on, but they were many of the building blocks.
The problem is now like spilt milk, and it seems congress and the American people are arguing on to whom is going to clean up the mess! I do not blame either in doing so, because we do not want to cause an even bigger mess by rushing to fix the problem. Yet, this is a classic case of damned if we do and even more damned if we don’t! While I for would love for Wall Street and the financial markets to lie in the bed that they have made for themselves. These markets do not exist in a vacuum, and what bad for them, is very detrimental to our economy. Eventually when peoples’ jobs start dropping like flies, the government will have no other alternative but to act on this situation. I only hope that their action will look out for the American taxpayer as well as the markets well being.
Posted by guidedbystewart on September 30, 2008 at 10:29 a.m. (Suggest removal)
BTW the above comment came from perosnal empirical observations and not from any propaganda sites, talk show radio, or any media site, mainstream or otherwise.
Posted by coolfreaknbeans on September 30, 2008 at 10:34 a.m. (Suggest removal)
flinsc-You brought up some great points.I'm always griping about the lack of personal accountability.Maybe I'm heartless but why is it my responsibility as a taxpayer to bail out other people?People who financed as much as he lender would allow,then when the payments came in said,"Oh Shiate!"People making $35k-40k a year were buying $400-500k homes.I don't think we should bail out people who spent money they didn't have like drunken sailors.I'd love to live in a huge,luxurious home,who wouldnt?But for now I will enjoy my nice,more modest home.No one should be held accountable for my spending but me.
Posted by Missing_Home on September 30, 2008 at 10:35 a.m. (Suggest removal)
Where is my "bailout"?
Posted by blah_blah_blah on September 30, 2008 at 10:46 a.m. (Suggest removal)
republicans are losers!
hold on to your ideals, even if it is not good for America!
Posted by MR_PRETTY on September 30, 2008 at 10:59 a.m. (Suggest removal)
YOU PEOPLE HAVE DONE IT NOW! NO! TO ANY FORM OF A BAIL OUT. WE GO OVER TO ANOTHER MAN COUNTRY AND ARREST HIM BRING HIM UP ON TRUMP UP CHARGES, AND NOW HIS HOMIES ARE UPSET. SO, WE PAY $5/GAL FOR GAS AND NOW I'M SUPPOSED TO HELP THE FILTHY RICH GET EVEN RICHER. JANE I GOT TO LAUGH AT YOU, WILL YOU BE STUPID ALL YOUR LIFE. HE IS OUR NEXT PRESIDENT SO GET OVER IT. THERE A BIG TALL BRIDGE SPANNING THE COOPER RIVER I SUGGEST USING IT!lol I even heard on the news that some of you are starting to put on your white hoods again, you are so mad that a black man will be president. i'm glad i live in the hood, we don't have to worry about yall coming there. lol
Posted by ClemsonTi9er on September 30, 2008 at 11:01 a.m. (Suggest removal)
We need not any of this. As South Carolinians, I say let's not forget what some of our brave ancestors did like Francis Marion, Thomas Sumter, and the like.
REVOLUTION is the answer! Down with the Union!
Posted by ln1959 on September 30, 2008 at 11:11 a.m. (Suggest removal)
Missing_Home..we are trying to Bail you out of Iraq..just hold on.
I remember when I went looking for my first home, I was making 42K and they tried to put me in a 150K home. See by their calculation I could afford it. By my calculation, I could only afford a 80K home. Some of these people lost there home by not doing there home work first, others lost there home because of greed. When you lose a home that has been in the family for 40 years, it was greed and I should not be bailing you out.
I didn't think I should have bail the airlines out, so I surely don't thing we should be bailing Wall street out.
But something has to be done. The people who spent there money responsibly, should not be the ones punish. Hell I gave all I had to keep my credit good, so now I can't get a loan if I wont one. Thats bull.
Posted by amylrod on September 30, 2008 at 11:12 a.m. (Suggest removal)
The American people have spoken.
They stopped this bill from passing!
Let's see if we can win round two on Thursday!
Yes, Vote Graham out! Get Henry Brown out of office! However, I won't cast a vote for Ketner. Is their any unknown out there running under another party name?
Posted by MR_PRETTY on September 30, 2008 at 11:21 a.m. (Suggest removal)
yeah clemson, lets try this one more time. i've always wanted to live on the battery. my best experience in the south was after hurricane hugo, when everyone lost almost everything. people were so kind and polite. thats what we need. lets go back to the days if the chicken coup, hog pens, and home made old fashion ice cream. as a negress, i know how to live broke and poor, how bout you coldbeans, oprah, efig, nancy n, and undercover klansmen? can you live with out, yall bout to find out. let me make a few klansmen mad , first thing obama should address is " MAKE MLK DAY A NATIONAL HILIDAY. AND "REPERATION FOR THE DECENDENTS OF AFRICAN CAPTIVES. PAY US OUR 40 ACRES AND A MULE! WHAT DO YOU KLANSMEN THINK ABOUT THAT????
Posted by UrGatorbait on September 30, 2008 at 11:26 a.m. (Suggest removal)
Mr Pretty has some issues...
Posted by forget on September 30, 2008 at 11:26 a.m. (Suggest removal)
Mr P - Nobody is putting on any white hoods. Financial meltdowns aren't a racial thing. Don't try to go there. We aren't biting.
Posted by UrGatorbait on September 30, 2008 at 11:29 a.m. (Suggest removal)
Well good you live in da hood Mr Pretty. MLK is a national holiday.
Posted by charleston21 on September 30, 2008 at 11:30 a.m. (Suggest removal)
Posted by MR_PRETTY on September 30, 2008 at 11:21 a.m. (Suggest removal)
yeah clemson, lets try this one more time. i've always wanted to live on the battery. my best experience in the south was after hurricane hugo, when everyone lost almost everything. people were so kind and polite. thats what we need. lets go back to the days if the chicken coup, hog pens, and home made old fashion ice cream. as a negress, i know how to live broke and poor, how bout you coldbeans, oprah, efig, nancy n, and undercover klansmen? can you live with out, yall bout to find out. let me make a few klansmen mad , first thing obama should address is " MAKE MLK DAY A NATIONAL HILIDAY. AND "REPERATION FOR THE DECENDENTS OF AFRICAN CAPTIVES. PAY US OUR 40 ACRES AND A MULE! WHAT DO YOU KLANSMEN THINK ABOUT THAT????
That gets my vote for the worst post ever.
Posted by MR_PRETTY on September 30, 2008 at 11:40 a.m. (Suggest removal)
I THINK OBAMA SHOULD PAINT THE WHITE HOUSE BLACK. RENAME AIR FORCE ONE "THE PRESIDENTS RIDE" INSTEAD OF BEING CALLED COMMENDER IN CHIEF "BIG PAPPA" AND GIVE THEM ALL THERE SAYINGS BACK LIKE" BLACK MONDAY, BLACK BALL" TO "WHITE MONDAY, WHITE LUCK, WHITE BALL" THE ONLY THING I WANT TO KEEP THAT YOU PEOPLE HAVE GIVEN US IS THE" CP TIME" YEAH BABY I WANT TO KEEP THAT ONE, THANKS ALOT WHITE PEOPLE FOR THAT EXCUSE, LOVE YA!
Posted by le9876 on September 30, 2008 at 11:46 a.m. (Suggest removal)
Wow someone get Mr. Pretty some help I believe he's got some issues. Why must everything on here become a racial issue? It's called times are hard for everyone white, black, yellow, purple, etc. and seriously who cares about whether you get one more day off a year no matter what it's for. That's all we need is one more national holiday so we have one more excuse not to work so we have a little less money for those of us who don't get paid holidays. Get a life :)
Posted by Missing_Home on September 30, 2008 at 12:03 p.m. (Suggest removal)
I don't need to be bailed out of Iraq, we will be leaving this place soon enough.
If we bail out Wallstreet, Every citizen needs to flood their congressman's office with a request for personal bail outs.
Posted by Larz13 on September 30, 2008 at 12:23 p.m. (Suggest removal)
I am thinking that Mr. Petty is a white sarcastic dude.
If not, be sure to duck on the way to the cash advance store.
Posted by MR_PRETTY on September 30, 2008 at 12:41 p.m. (Suggest removal)
LOL! you white people never cease to amaze me. you are such a scary group. for a people that go around waging war, you are so apprehensive. i'm ma gonna scare yall some more. they say that that is the reason why you people give each other things, like, higher pay checks, loans and such. because your affraid to be left out. or to have nothing. rem. the days when a white man would jump out a high rise window when he would lose his money? what happen to those days? i love to see the klansmen sweat wondering if there will be a black executive. lol sweat on white people sweat on!
Posted by charleston21 on September 30, 2008 at 12:59 p.m. (Suggest removal)
I am doubting the claims of "mr-Pretty" that she is a black person that lives in the "'hood." Even a funtionally illiterate donkey would not post such inflamatory tripe. I smell an internet troll...
Posted by Lovely_One on September 30, 2008 at 1:46 p.m. (Suggest removal)
Jane: "My father predicts there will be rioting in the streets if Obama wins."
Um, who will be rioting and why?
MR_PRETTY, Please stop. You are borderline certifiable. Your posts are very idiotic. You need to chill out and leave the "stuff" alone.
Posted by guidedbystewart on September 30, 2008 at 1:52 p.m. (Suggest removal)
Jane, Both sides of the politicals spectrum post inflamatory tripe....hypocrits!
Posted by ChasCarolinaGirl on September 30, 2008 at 2:09 p.m. (Suggest removal)
Mr Pretty: MLK IS a National Holiday, blah blah. Klansmen is no different than you NAACP, so get off that high horse. Forget is right, financial meltdowns are not racist.
What is racist is you and your kind. Im not saying african americans, but black people who believed they are still "owed something".
As for Obama, I was actually for him but Im realizing quickly that his chances are slim to none and maybe you need to realize that also.
Posted by msplacedinsc on September 30, 2008 at 2:17 p.m. (Suggest removal)
After reading the majority of post, I sure hope Obama wins this election cause 46 millions of Americans had to put up with George "The Worst President Ever" Bush and his circus of administration for 8 years and his "rubber stamp congress" for 6 years! Paybacks are Hell....The GOP and their idealogy is a thing of the past?
Posted by ChasCarolinaGirl on September 30, 2008 at 2:31 p.m. (Suggest removal)
GuidedbyStewart is Arch Dude? Hmmmm Interesting...
Posted by Lovely_One on September 30, 2008 at 2:37 p.m. (Suggest removal)
Jane, if you notice, I did address MR_PRETTY in my post. I have also addressed him/her/whatever in other posts. I asked you the question because you said that your father predicted that there will be rioting. You didn't say that MR_PRETTY had said it.
Posted by sullivan on September 30, 2008 at 2:40 p.m. (Suggest removal)
I like Moonpie's way of thinking : Maybe a third party write in candidate could send another message from the Cool Hand Luke movie :" What We Have Here Is A Failure To Communicate!!!!"
The Dems & GOP party line politicians have closed communication lines to the will & best interest of the people they are supposed to serve in favor of the ruling elite, lobby interest & foreign invaders.The only time we are given consideration is when they ask us to support them with our vote and our money they use for their benefit.
BOTH PARTIES SHARE THE BLAME!!!
Posted by guidedbystewart on September 30, 2008 at 2:47 p.m. (Suggest removal)
I can assure you that I am not Arch Dude, it is just me, and only me and I have no other personas. Yet, Jane, your comment does not surprise me. You have never been all that insightful.
Posted by iceman1978 on September 30, 2008 at 2:52 p.m. (Suggest removal)
You know, there's a simple way that one can justify their argument against this bill.
Bush favors it!
Posted by MR_PRETTY on September 30, 2008 at 2:54 p.m. (Suggest removal)
hey, i got an idea. why don't when Obama wins the election, all you klansmen, get your suitcases your sheets, your cross, and that dumb butt flag and...............................well let's just say" i hear Europe IS A NICE PLACE TO LIVE! LOL OL LOL LOL.
Posted by eatmorecollards on September 30, 2008 at 3:07 p.m. (Suggest removal)
Its my opinion that the bailout would have been ok for the government to do. After a few years all these properties that would be owned by the government would regain thier value. The only thing that would worry me is that the democrats would probably turn them into low income housing and MR PRETTY and his friends would move out the hood and into a lot of gated communities.
Posted by guidedbystewart on September 30, 2008 at 3:08 p.m. (Suggest removal)
MR_PRETTY, Your last post really reminded me of something RW would have wrote, just an observation.
Posted by iceman1978 on September 30, 2008 at 3:15 p.m. (Suggest removal)
proletariat, Long gone are the days when this country had real leadership. Let me share with you a few quotes from Teddy Roosevelt, one of my favorite Presidents:
----
Every immigrant who comes here should be required within five years to learn English or leave the country.
No man is above the law, and no man is below it.
The best executive is one who has sense enough to pick good people to do what he wants done, and self-restraint enough to keep from meddling with them while they do it.
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
When they call the roll in the Senate, the Senators do not know whether to answer "Present" or "Not guilty."
Posted by iceman1978 on September 30, 2008 at 3:17 p.m. (Suggest removal)
Posted by eatmorecollards on September 30, 2008 at 3:07 p.m. (Suggest removal)
Its my opinion that the bailout would have been ok for the government to do. After a few years all these properties that would be owned by the government would regain thier value. The only thing that would worry me is that the democrats would probably turn them into low income housing and MR PRETTY and his friends would move out the hood and into a lot of gated communities.
----
This scares the living daylights out of me too. Imagine having Section 8 housing in places like Coosaw Creek or Snee Farm.
Posted by UrGatorbait on September 30, 2008 at 3:31 p.m. (Suggest removal)
From another site:
"What keeps people honest in the market place is *RISK*.
A bailout removes risk from the equation, and what will ultimately have to be used in it's place is Government oversight.
You cannot lobby marketplace risk. You cannot buy favors in the marketplace. There are no "good ole boys" in the market. Risk does not discriminate, nor does it cater to friends or lobby groups. Risk is blind and risk is fair."
Mr Pretty, you have some issues. I don't believe OB will spur a race war like you hope. Your entitlement victimhood posts speak volumes about you. You might want to try some education.
I also wonder, why are his racists rants allowed?
Posted by STREETLAW on September 30, 2008 at 3:33 p.m. (Suggest removal)
It is not a $700 million dollar bailout. It was up to $700 million. And the public outrage was definitely a media invention.
And can someone tell us why the press wasn't screaming about the prospects for the financial meltdown for at least a year. They know so much when it is too late to do much about, or when they decide to steer the news one way or another.
Posted by MR_PRETTY on September 30, 2008 at 3:37 p.m. (Suggest removal)
YOU WON'T HAVE TO WORRY, I WOULD'NT AND NO ONE COULD PAY ME ENOUGH TO LIVE AMOUNST KLANSMEN.I'M NOT THE NEGRESS THAT THINKS THAT LIVING NEXT TO A KLANSMEN IS SOMETHING GOOD. GIVE ME A GOOD MIDDLE CLASS, "DARK" NEIGHBORHOOD WITH MAYBE A LITTLE KLANSMEN HERE AND THERE AND I'M FINE. I NEED A FEW KLANSMEN AROUND TO ALLWAYS KNOW WHAT YALL ARE UP TO. "KEEP YOUR FRIENDS CLOSE BUT YOUR....................CLOSER". O- ONE MORE THING. I swear on my grand mothers grave, that if those crooks in dc makes me pay for these klansmen lotting and stealing and plain ol' i'm the man i can do what i want, and if Obama votes in favor of this " I WILL VOTE FOR MCCAIN" I SWEAR I WOULD DO IT! IF I GET A HINT THAT OBAMA IS EVEN THINKING ABOUT MAKING ME BAIL OUT RICH PEOPLE I'M CALLING HIM A FOOL AND I WOULD NOT VOTE FOR HIM. BACK TO THE ISSUES, I WONDER HOW MANY NATIVES LOST THEIR LIVES SO YOU COULD TAKE OVER COOSAW CREEK AND SNEE FARM? HEY DID YOU GUYS KNOW THAT "........................................ President Andrew Jackson, the
nation’s seventh president, was in
office between 1829 and 1837. A
renowned African-American
historian J. A. Rogers, author of
the “Five Black Presidents” wrote
that Andrew Jackson Sr. died before
his son, President Andrew Jackson
Jr., was born. The president’s mother
then went to live on the Crawford
farm, where there were Negro slaves
and one of these men was Andrew
Jr.’s father, Rogers wrote.
Vaughn cites an article written in
The Virginia Magazine of History that
Jackson was the son of an Irish
woman who married a black man.
The magazine also stated that
Jackson’s oldest brother had been
sold as a slave.
Posted by MR_PRETTY on September 30, 2008 at 3:41 p.m. (Suggest removal)
FRIST A NEGRESS PRESIDENT AND NOW THIS "...........Thomas Jefferson the third
elected president, who served two
terms between 1801 and 1809 was
described as the “son of a half-breed
Indian squaw and a Virginia mulatto
father,” as stated in Vaughn’s
findings. Jefferson also was said to
have destroyed all documentation
attached to his mother, even going
to extremes to seize letters written
by his mother to other people.
Only in recent years did the family
of Thomas Jefferson acknowledged
he was the father of the (5 or 6)
children born to a slave on his
plantation, Sally Hemmings. LOL OL LOL LOL LOL LOL LOL LOL
Posted by Lovely_One on September 30, 2008 at 3:43 p.m. (Suggest removal)
STREETLAW,
I thought it was billion not million.
Posted by MR_PRETTY on September 30, 2008 at 3:46 p.m. (Suggest removal)
HOLD ON TO YOUR HOODS GENTLEMEN HERE COMES A DOOSIE "................Abraham Lincoln, the nation’s
16th president, served between 1861
and 1865. Author Vaughn, states
Lincoln had very dark skin and
coarse hair and his mother allegedly
came from an Ethiopian tribe. His
heritage fueled so much controversy
that Lincoln was nicknamed
“Abraham Africanus the First” by his
presidential opponents and cartoons
were drawn depicting him as a
Negro.
In a book, titled “The Hidden
Lincoln” written by William
Herndon, Lincoln’s law-office
partner, said that Lincoln’s father of
record, Thomas Lincoln, could not
have been Lincoln’s father because
he was sterile from childhood
mumps and later was castrated. I KNEW THERE WAS A REASON I LIKED HONEST ABE!
Posted by Lovely_One on September 30, 2008 at 3:47 p.m. (Suggest removal)
I think MR_PRETTY is a white poster trying to make us blacks look bad. I honestly don't think anyone is that passionate about being hooked on stupid. No offense to the whites, but MR_PRETTY's posts are WAAAAYYYY over the top and I really cannot claim him/her/whatever. We give him/her/whatever to you just as we have given you OJ and MJ! Lol!
Posted by MR_PRETTY on September 30, 2008 at 3:51 p.m. (Suggest removal)
I GUESS IT'S NOT THAT ALL WHITE PEOPLE ARE BAD, BUT ALL WHITE PEOPLE WITH BLACK ANCESTORS ARE GOOD! KLANSMENS DON'T BE LIKE THAT SKIT ON DAVE CHAPPELLE WHEN THE KLANSMEN HEAD BLEW UP WHEN HE SAY THE GUESS SPEAKER AT THE KLAN RALLY WAS A NEGRESS, BUT HOLD ON FOR THIS ONE, IT WILL MAKE YOU SLAP YOUR MOMMA LIKE YOU USED TO DO WHEN YOU WERE A KID GROWING UP ".......... The last elected “black” president
was Dwight David Eisenhower
who served from 1953 to 1961, the
34th president. Eisenhower’s
mother, Ida Elizabeth Stover was a
mullato woman making Eisenhower
part black.
Eisenhower as president moved
military integration from a law to
reality. He battered Arkansas Gov.
Orval Faubus with federal force to
desegregate Little Rock’s Central
High School. He was the first
President to elevate an African-
American to an executive position in
the White House. He established the
first regulations to prohibit racial
discrimination in the federal
workforce. He was the first President
since Reconstruction to meet with
Civil Rights leaders in the White
House. He helped turn Washington,
D.C., into an integrated city.
Posted by MR_PRETTY on September 30, 2008 at 3:58 p.m. (Suggest removal)
O HUSH UP LOVLY, LET ME HAVE SOME FUN AT THESE KLANSMEN EXPENSE. YOU SHOULD HEAR HOW THERE DOGG US OUT ON THESE SITES. LIKE MALCOLM SAID AN EYE FOR AN EYE. BUT WAIT............THERE'S MORE........HOT OFF THE PRESSES BOYS "..............Calvin Coolidge, the nation’s 30th
president, served between 1923 and
1929 and supposedly was proud of
his heritage. He claimed his mother
was dark because of mixed Indian
ancestry. This notion was disputed
by Auset Bakhufu, author of “The Six
Black Presidents” who said in her
book that by the 1800s, the New
England Indians hardly were pure
Indian, because they had mixed so
often with blacks. Coolidge’s
mother’s maiden name was “Moor”
and in Europe the name “Moor” was
given to all blacks just as “Negro”
was used in America. It later was
concluded that Coolidge was part
black.
The
Posted by Lovely_One on September 30, 2008 at 4:07 p.m. (Suggest removal)
Wow, "hush up". That is like, so 3rd grade! I READ this site almost daily and I READ a lot of comments that I don't not like; however, I chose to come back intellectually and not ranting and raving incoherently like a racist jerk. And could you please tell me what a "negress" is?
Posted by MR_PRETTY on September 30, 2008 at 4:17 p.m. (Suggest removal)
YOU KNOW WHAT LOVELY, YOU BRING ME TO ANOTHER POINT, WE ARE DUMB, I THINK THIS IS WHY WHITE *MOST WHITE PEOPLE DIS LIKE US SO MUCH, THIS IS HOW DUMB THE NEGRESS ARE IN THIS COUNTRY, NOW, IT HAS BEEN BROUGHT TO MY ATTENTION THAT THERE'S A COMPANY THAT CAN TRACE OUR ANCESTORS/ DNA BACK TO AFRICA, THEY CAN NOW SWAB YOUR MOUTH AND TELL YOU WHICH TRIBE YOU ARE FROM. THIS SHOULD BE SOMETHING THAT SHOULD BE FUNDED BY THE USA GOVERNMENT! **WHITE FOLKS CAN TELL US RIGHT NOW WHERE THEIR FATHERS FATHER IS FROM IN EUROPE. HE KNOWS HIS ANCESTRY, WE WON'T EVEN ATTEMPT TO FIND OUR SELVES, AND I THINK THE USA SHOULD FEEL OBLIGED TO DO THIS. BUT I GUESS WHITE PEOPLE SAY TO THEMSELVE THAT " IF THEM NEGRESS ARE TO STUPID TO FIGHT FOR THEIR CAUSE WE'LL ACT LIKE O WHAT THE HELL TOO! WATCH THIS........ HEY COLLFREAKINBEANS, WHERE ARE YOUR PEOPLE FROM AND WHEN DID THEY COME TO AMERICA? HEY EFIG, WHERE IS YOUR MOMMA FROM? HEY JANE, WHERE IS YOUR FATHER FATHER FROM? I'LL BET YOU THAT THESE PEOPLE KNOW THE ANSWER TO THAT. I WILL ASK PRESIDENT OBAMA TO ADDRESS THIS ISSUE.
Posted by Lovely_One on September 30, 2008 at 4:27 p.m. (Suggest removal)
MR_PRETTY, seriously, you are not for real. You cannot be. I cannot sit back and allow myself to accept that you are genuine in your posts. What the heck does any of what you just posted have to do with my post? You know what, I quit. I don't know why I am addressing you in the first place. I allowed myself to be sucked by, yet another, crazy poster. But no more!!! Unless I feel like having some fun...of course.
Posted by MR_PRETTY on September 30, 2008 at 4:31 p.m. (Suggest removal)
LOVELY, DOES IT MAKE YOU FEEL UNCOMFORTABLE. I'LL LEAVE THE DIGNITY SPEECHES AND BIG WORDS TO YOU AND EFIG* WELL PART OF EFIG(YOU KNOW SHES BI-RACIAL) AND MY MAIN NEGRESS MINORITY SOUTH. KNOW ONE CAN TELL EVIL PEOPLE OFF LIKE MINORITY SOUTH. I'LL CHOOSE HOW TO DEAL WITH THESE PEOPLE THE WAY I DO. IF THERE IS ONE THING I HAVE LEARNED FROM MY WHITE FATHERS "YOU FIGHT FIRE WITH FIRE" NOT WATER. YA SEE LOVELY, I WANT TO PLAY WITH COLLBEANS AND RW, AND THOSE OTHER PUNKS. IF COLDBEANS SLAP ME I WANT TO BLACK HIS EYE, IF RW **AND I DON'T KNOW WHY BUT WHITE BOYS LIKE TO PASS GAS ON EACH OTHER AND LAUGH ABOUT IT , I DON'T WHAT THEY GET OUT OF THAT BUT THEY LOVE TO DO IT, AND IF RW PASSES GAS BY ME I WANT TO TAKE THIS SIZE 14 BOOT AND PUT IN SOMEWHERE WHERE HE WOULD NEVER HAVE TO STRAIN WHEN HE USES THE WATERCLOSET! SO IF YOU FEEL EMBARRASSED WHEN I TALK MESS BACK TO THESE FOOLS THEN THATS YOUR PROBLEM *
Posted by willie08 on September 30, 2008 at 4:37 p.m. (Suggest removal)
Here is a bill which will provide for a $700 billion bailout of Wall Street. It has provisions in it where it talks about helping homeowners, but when you read the fine print, you see it has language like “may” instead of “shall” and “encouraging” instead of “mandating” help for the millions of homeowners who are worried right now about whether they’re going to lose their home. There’s no help for them in this.
So what we have here is a rescue plan that essentially gives all the speculators a bailout and puts the bad debts in the custody of the government. The president of the Dallas Federal Reserve Bank has said that this plan could create a fiscal chasm, says that the problem isn’t tight monetary policy, it’s the reckless behavior of some of these investors who have now found themselves in a position where a government bailout is going to help reward their bad behavior.
Posted by charleston21 on September 30, 2008 at 4:41 p.m. (Suggest removal)
Wow, this went downhill fast. That is what happens when you feed a troll.
Posted by MR_PRETTY on September 30, 2008 at 4:44 p.m. (Suggest removal)
DAMN, AFTER THE POST ABOUT THE BLACK PRESIDENTS I HAVE NOT HEARD A WORD FROM YOU PEOPLE. DID YOU ALL HAVE HEART ATTACKS???????????????? HEY KLANSMEN, HEY KLANSMEN, ANY KLANSMEN OUT THERE???????HEY RW, COLDBEANS, JANE, DAMN I DONE SCARED ALL THE EUROPIANS AWAY. NOW I KNOW WHAT TO DO TO SHUT UP RACIST WHITE PEOPLE, YOU SEE LOVELY, YOU SEE WHAT REALLY WORKS. NOT BEING KIND NOT USING BIG NICE WORDS, WHEN IN HELL DO AS SATIN DOES, FIGHT FIGHT FIGHT. NOW, SINCE I HAVE PUT A LID ON THE WICKED, I LEAVE YOU ALL FOR NOW, BUT I WILL CHECK BACK FROM TIME TO TIME AND IF I SEE ANY DEROGATORY BLOGS ABOUT MY PEOPLE I WILL JUMP IN YOUR BUTT LIKE A PORCUPINE ON CRACK. SHUT YOUR FREAKIN MOUTH WHITE FOLKS WHEN IT COMES TO MY PEOPLE AND OUR PROBLEMS THAT YOUR BROUGHT ON IN THE FIRST PLACE. GOOD BYE AND LOOK I LOVE ALL PEOPLE, BUT YOUR PEOPLE DID DO SOME BAD THINGS, LOVE RESPECT AND PEACE.........MR. PRETTY
Posted by Lovely_One on September 30, 2008 at 4:49 p.m. (Suggest removal)
charleston21, Yes, I am ashamed and will hang my head and walk away......Lol!
Posted by willie08 on September 30, 2008 at 4:56 p.m. (Suggest removal)
Um, mr. pretty, learn to write. You're not making "your people" look good.
Posted by MR_PRETTY on September 30, 2008 at 5:14 p.m. (Suggest removal)
I read some of you all post and found you all not to be quite right about some things. We are the poorest, the sickest, the most unemployed, the most uneducated, and the last in just about everything, but white males are still the greatest danger to our children when it comes to sodomizing, raping, and killing them. Statistically speaking the white male in the U.S. and around the world make up for 75% of all child molestations; all people are not the same. The black man is anatomically and mentally different. Look at how we endured slavery for hundreds of years. It took a lot of stamina to do that and find a way to love the people and the country to the point where we even fought in your wars died and bled for this America that killed one hundred million of us in the slave trade. Yes, it takes a strong race of people to be able to do that. The Black Man is superior morally as well. The white man is morally deficient. He is most likely to commit the most inhuman acts. It is no surprise that white males are still the greatest danger to our children when it comes to sodomizing, raping, and killing them. Statistically speaking, the white male in the U.S. and around the world, make up for 75% of all child molestations. Slavery was easily accepted as a rightness of whiteness.
****, look in the book of Ezekiel 39:1, 16. God tells Ezekiel to warn the Gentiles (the seed of Japheth)
that he would kill them if they didn’t change their ways. In the 6th verse, God said he will send a fire on Magog and among them that dwell carelessly in the isles and they shall know that I am the Lord. The land where the Caucasian and European races lived in the north is referred to as the Isles. When the Bible says that the people that come from the end of the earth (north or Isles) are your enemies, God is referring to the gentiles in Deuteronomy 28:48, 49. In Ezekiel 39:1, God says that the gentiles are his enemies, (white people). God even says it again in Revelations 20:7, “the seed of Japheth (Gentile-Europeans) team up with the devil or Satan to war against God and his people.
**** our God is full of love and mercy, but in the book of Jeremiah 50:41, 42 God says that the Gentiles are cruel and show no mercy. The letters that you post on this site to Black people prove or confirm how cruel God says you are. *****, without our Black Messiah, our Black prophets, our Black apostles, and our Black bible where would you white people be, but on your way to hell.
To the white people the true Messiah is not Caucasian as you have been taught, but as Black as I and his name is Yeshua. White people, you must learn to worship the Black Messiah also known as Jesus Christ from North-east Africa in spirit and in truth if you are going to make it into the Kingdom.
Love and peace,
Posted by solea on September 30, 2008 at 5:40 p.m. (Suggest removal)
this financial could cuase a ton of unemployment in banking becuase people wont trust the banks anymore not even BB&C thus cuasing more banks to crash and more stocks to plummet causing unemployment rates to go up and more taxes and thus cuasing another great depression and this could result in a major poverty issue and we dont want that to happen so thanks to our government we might be heading toward a politicaly conflicted poverty town population: USA!!!!!so this kinda reeks that our unstable government did this to us and they aren't even trying that hard to lower gas prices so how much more stock trouble are we in if they can't even lower some gas prices by finding alternative sources of energy instead of relying on oil? do you know how much i have to pay for gas for my camaro? i dont even want to think about it. im so stinking frustrated about our government i mean i bet ya some of them who can fix this stock problem and make things better then before are probably just sitting on their butts relaxing saying they are "thinking" of a way to fix this so we must band together like others have posted before and we should do something that the government will get off their lazy...hmmm...how do i put this...i know, off their lazy BUTTS!!!!! if any government officials read this post then i have a message for you. FIX THIS OR ELSE this can cause everything i just typed!!! trust me on this!!!!if you agree with my ideals then please reply!!!!!!!!
Posted by Cid95 on September 30, 2008 at 5:44 p.m. (Suggest removal)
Mr Pretty - Are you familiar with the teachings of the prophet Uncle Ruckus? His words might be enlightening to you.
Posted by solea on September 30, 2008 at 5:53 p.m. (Suggest removal)
Mr pretty i have suggested removal to a lot of your posts becuase im white and im not like anything you have said so you should say things that are not offensive to me my religion and my community right guys?
Posted by solea on September 30, 2008 at 6:05 p.m. (Suggest removal)
i mean cmon mr pretty you think you and your racist ways are gonna make us love blacks like brothers and hate whites like satan? yeah right now we want you and your racist ways gone!!!!!!!!!!!
Posted by solea on September 30, 2008 at 6:18 p.m. (Suggest removal)
who here agrees with my post earlier? about the povertytown usa thing and the lazy fat slobs we call government? any one? and by the way please ignore mr. pretty or should i say Mr. idiot for thinking his racey ways are of good values and his religion should be forced on us and well he can keep his religion to himself becuase i think jesus was white i mean think of adam and eve how they were white and plus the 75% of child molestation is from whites is such bullcrap you got that mr racey?
Posted by ResQMe on September 30, 2008 at 6:49 p.m. (Suggest removal)
I think no one will balk at this plan...Democrat or Republican: I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend.
To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.
Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00
in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000 .00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it'll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent's medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else
Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do
it...instead of
trickling out
a puny $1000.00 ( 'vote buy' ) economic incentive that is being
proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every
adult U S Citizen 18+!
As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't..
Sure it's a crazy idea that can 'never work.'
But can you imagine the Coast-To-Co ast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion.
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.
And remember, The plan only really costs $59.5 Billion because
$25.5 Billion is returned
instantly in taxes to
Uncle Sam.
Posted by ginj on September 30, 2008 at 7:14 p.m. (Suggest removal)
You know ResQme that sounds like a great plan. Now if you remove from that mix anyone in Congress, because they are already receiving government dollars for doing next to nothing, and the income is already higher. To bad they won't do it because there will be nothing in it for their pet projects, financial backers, etc.
It bothers me to think they will be helping all those who used poor judgment in buying over their means while many just struggle with property taxes every year.
I haven't heard anything from the Independent Party candidate on all this. I wonder what Bob Barr is saying?
Posted by solea on September 30, 2008 at 7:20 p.m. (Suggest removal)
cmon does anyone agree wiht my ideals?
Posted by solea on September 30, 2008 at 7:52 p.m. (Suggest removal)
donttasemegbro...wtf? kuran tattoo? malcom X? email foward to get disney land vacation? seriously....wtf?
Posted by ResQMe on September 30, 2008 at 9:37 p.m. (Suggest removal)
Yes, yes this was an email I received several days ago. I think it funny Loser_Bro that if that email ever came to fruition, you would be first in line asking where's my money dipsh*ts. I know you are very educated..I can tell, however, I don't see a solution spewing from your chops, Yes?