The Economy

[Big_Sissy]

You would have to be specific about what it is you want to understand before I could tell you anything.

[5ft Diva]

Okay, I'll make sure to be specific, BS when I want your input - exclusively, that is. Thanks! I appreciate the clarification.

[natickgirl]

Can I just say I am really angry and disappointed at the House for not passing the "Bailout Bill"!!!! Several representatives said they knew voting for the bailout was "the right thing to do" to help our country's economy, but that their constituents wanted them to vote against it. Representatives knew they might lose their seat in the house at the upcoming election if they voted for the bill, so they chose to go against their better judgment and vote no. With no bailout plan in place, stocks lost more points today than they ever have! That is definitely not going to help consumer confidence.

Of course constituents don't want to pay for someone else's greediness or mistakes. I don't...it's not fair. However, we're all going to end up paying for this mess in some way or another. It's better to have a plan in place, that to just let things happen haphazardly (like the markets plunging). I am a republican, and I believe in capitalism and letting people suffer the consequences of their own mistakes. But, sometimes people have to swallow their republican pride and let the government step in a bit. It was mostly republicans who made this bill not pass (Dems: 140 yes, 95 no; Reps: 65 yes, 133 no)...possibly because they were too unwilling to let Washington get involved any further with Wall Street. I do NOT like big government, and would generally agree that Washington should not meddle with business. However, desperate times call for desperate measures. It is time to put aside politics & help the economy or things will only get worse. I am so disappointed in my party.

What are your thoughts? What do you make of all of this? BS, you seem to have some understanding of it all...what do you think?

[Big_Sissy]

You understand it pretty well.

This isn't done though, I'm sure their were extra items added to the bill, and I'm sure in it's first rendition it probably isn't what we want. Their are reason's the government is setup the way it's setup, I think we simply need to allow the gov. to work through this and come up with a solution that is going to be better for everyone in the long run.

Now having said that, I'm not completely sure I trust any politician to get it done.

the problem is we don't know what was "included" in the bill. We never get to see that stuff (which should be illegal IMOP, unless their is a way to see it, that I just don't know about), so who knows why or what was in it. Who knows if it really was what we really want.

All I know is something will happen, we just might have to wait until the end of the week for it to happen.

[5ft Diva]

I'm curious to know what was in the bill - does it need to be redrafted? Or is just a popularity issue? I'm wondering if they'll vote for it again (or if they even can) after Nov. and vote it in. I had heard on the news that the DOW had plunged over 700 pts. today. I don't understand points or how all of that works, but it sounds pretty scary.

[Big_Sissy]

Yes, they will re-draft it and then try again.

[natickgirl]

You can read the bill, if you really want to. It is 110 pages long. Go to cnn.com & on the left side, under "breaking news" there is a small bullet that says, "bill text".

I'm sure they'll redraft & resubmit, but the longer they take to agree & pass something, the more people will become worried or panicked, which will only worsen conditions. It will also give other countries a chance to react negatively, too. If this weren't an election year, things might be moving quicker. Right now, it's politics as usual in Washington.

[Big_Sissy]

Thanks NG, and you have the election year and politics right. And we wonder if $ and power play a role in why these people run for office???

[5ft Diva]

Take a gander at this. It's an article that SG sent me. It helped me wrap my head around this whole ordeal.

[Only registered and activated users can see links. ]

[Dia Minha]

Here is another article that really helped me: [Only registered and activated users can see links. ]