Barney: "Now you all know what it is like to get screwed in the a$$. Next time, grab hold like this and then bend over."
Hoyer/Peloser: "I'm going to blame it all on the fag."
Posted on 09/29/2008 1:16:13 PM PDT by NormsRevenge
WASHINGTON - In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it.
Stocks plummeted on Wall Street, beginning their plunge even before the 228-205 vote to reject the bill was officially announced on the House floor. The Dow Jones industrials sank nearly 700 points for the day.
Democratic and Republican leaders alike said they were committed to trying again, though the Democrats said GOP lawmakers needed to provide more votes. Bush huddled with his economic advisers about a next step.
(Excerpt) Read more at news.yahoo.com ...
Does anyone know how the Virginia congress people voted on this?
Does anyone know how the Virginia congress people voted on this?
I thought Wall Street shut down the trading when the stock numbers dropped a certain amount. Wasn’t it 500 or something. I know they did in the past. Called it a cooling off period or something. They would shut it down when it reached a point and wouldn’t open until the next day for trading. Anyone know about this?
Barney: "Now you all know what it is like to get screwed in the a$$. Next time, grab hold like this and then bend over."
Hoyer/Peloser: "I'm going to blame it all on the fag."
I e-mailed the minority leader and said Mike Pence is in fact the defacto leader now and that he should step down!!!
Why bailout Wall Street? If the reset of interest rates was the cause, why not freeze the rate and not reset it. People stay in their homes, pay their mortgages and mortgages holders can adjust.
The bailout is overkill unless the interest reset is just a scapegoat.
The more they warn about the markets crashing, the more people sell stocks to move their money into safer investments.
Our leaders are fanning the flames of hysteria to push this through. Congress is resisting, and not just the Republicans, but a large percentage of Democrats.
That sounds like a pretty good indication that this is a very, very bad bill.
Congress should settle down, and make sure any bailout, if a bailout is needed is done right, and provides minimal interference by the government.
Some banks may collapse while this is worked out. That's the unfortunate result of bad business practices, and the proper place to address it is in bankruptcy court.
We already have a system by which people are protected from the worst results of their bad decisions. We shouldn't make this a huge exception from how things are usually handled just because those that made big mistakes are rich and powerful.
Stock Market Circuit breakers
September 15th, 2008 · No Comments
Thinking about the equity market, the retail sector is only today clueing in that something is “going on.” Following are the circuit-breakers if the non-professionals decide to get out:
In the event of a 1,200 point decline in the DJIA (10%)
Before 2 pm - 1 hour halt
2-2:30 pm - 30-min. halt
After 2:30 pm - no halt
In the event of a 2,400 point decline in the DJIA (20%)
Before 2 pm - 2-hour halt
1-2 pm - 1-hour halt
After 2 pm - Market CLOSES
In the event of a 3,600 point decline in the DJIA (30%)
Regardless of the time of day, the MARKET CLOSES for the day.
Tags: stock market
http://www.mrforex.org/2008/09/15/stock-market-circuit-breakers/
LOL...
“As a rule of thumb, Congressional legislation that is bipartisan is usually twice as bad as legislation that is partisan.”
-Thomas Sowell
Sam, take a look at that DJIA max chart in linear mode.
I can see it dropping back to 1995 levels before the capitulation is complete.
House Ignores Pelosi.
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