Bailout with 'sweeteners' heads toward Senate win

AP on Yahoo ^ | 10/1/08 | Julie Hirschfeld Davis and Charles Babbington - ap

[supercat]

If they vote nay and defeat the bailout and the economy crashes which it surely will, they will be blamed for the crash.

They need to point out that preventing the crash would require dozens of trillions of dollars, and that $700B would do a lot more good after the crash than before. That will set them up so that if the bill passes without their support, and the economy crashes, they will be in a position to say we should have kept the $700B.

[brydic1]

The problem for those who vote to defeat the bailout should they succeed is that they will be blamed for the depression that follows and will be subject to condemnation from the left and the entire media for having brought about the depression. No one will necessarily believe that passage of the bailout would have also brought about an economic collapse. Indeed, the media will convince the majority that if the bailout had succeeded the economic collapse would have been avoided.

As I stated there is no way for the anti-bailout forces to win this argument if the bailout goes down.

[April Lexington]

Ok. But what if they succeed in defeating the bailout and there is no recession? Then they are heroes.

If the market truly believed financial Armageddon was at hand the Dow would be at 4,000 today and interest on 3 month T-bills would be zero. The $700 billion sugar plum is a drop in the bucket.

[April Lexington]

Besides... Americans love to go to NASCAR races. Why? to watch cars go around in circles? No... to see the crashes!

We can handle it! I think the average American can deal with six months of financial hassle and come out stronger and wiser. Not everyone is leveraged to the eyeballs.

[Thunder90]

ACORN is back in... And the House has yet to add it’s pork to this bill. Expect some really bad things to be added in here.

[MHGinTN]

Give the page numbers where you see that ACORN is back in ... or are you just trying to lie your way into a kerfuffle?

[MHGinTN]

Only a portion of the bill passed int he Senate tonight is the ‘recovery’ portion. The vast majority of the bill’s sections were things either already in existence (like the tax cuts on specific businesses/sectors of business) or added to a different package which got attached to the ‘recovery bill’ (read bailout). There were specific additions to the bailout bill, like increasing the FDIC top limit insured to $250,000 and ==I think— granting the SEC permission to suspend mark to market if the president requests it. The massive amount of money, increasing the debt of the fed, was not touched, sadly. But most of the 450+ pages of tonights bill was material already being crafted before the Paulson request for kingship.

[MHGinTN]

Um, you apparently don’t know what you’re talking about. The House must vote on the exact worded bill passed tonight, else the whole thing becomes a conference negotiation process. Please, don’t post nonsense, not on such an important issue.

[Thunder90]

The House has a way of doing things. Guarantee that this bill has to be worked in a conference committee when it gets done.