Dow plunges after Congress rejects bailout bill

Tuesday 30th September, 09:55 AM JST

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frontandcentre at 03:05 PM JST - 1st October

Sarge - funny how the one time you disagree with Bush is when he's actually correct. A plan is urgently needed and there are too many misconceptions amongst the general public about this package. As it was described, it's a bale out for main street, not for Wall Street.

But - as ever - we can rely on the GOP in their ignorance to do the wrong thing
Sarge at 03:20 PM JST - 1st October

frontandcentre - The wrong thing to do would be to waste $700 billion of the taxpayers' money on a Wall Street boondoggle. Heck, even YangYong agrees with me here.
SushiSake3 at 04:02 PM JST - 1st October

Sarge - "I applaud every congressman, Democrat and Republican, who voted against this boondoggle. This is where I part with President Bush."

Sarge, I am stunned - this is the first thing you and I have agreed on in - what is it - 6 years?

I need to sit down... :-)
SushiSake3 at 04:07 PM JST - 1st October

And it just gets better for America -

"Now, with the financial crisis front and center, Bush has reappeared on the landscape and the race is no longer an Obama referendum.

The damage is registering powerfully on the electoral map and in state and national polling, officials say. McCain has lost ground in at least eight key swing states, and the officials say his path to victory is so narrow that it allows virtually no room for error.

Recent polls have shown Obama ahead in Colorado, Michigan and Pennsylvania, with gains in Florida, Virginia, North Carolina, Indiana and New Mexico.

Two recent national tracking polls – from Gallup and The Hotline – both show Obama enjoying a six-point lead. A Washington Post-ABC News poll out Tuesday night showed Obama with a four-point advantage among likely voters (50 to 46), down from an anomalous nine points the week before."
YangYong at 05:27 PM JST - 1st October

Sarge: LOL. I see, it's ME agreeing with you. Funny... ish.
Sarge at 07:40 PM JST - 1st October

Let me get this straight - Yangyong and Sushi agree with me here, and frontandcentre doesn't. This means frontandcentre is at odds with YangYong and Sushi... hmmm...

Sushi - "Obama enjoying a six point lead ( in the polls )"

He's going to lose the poll on November 4.
frontandcentre at 08:03 PM JST - 1st October

Sarge - I certainly don't agree with them, or you (we call this approach "thinking for yourself"...). Bush is correct on this - or rather Paulson is - but the trouble is that no-one takes Bush seriously at all and the republicans have shown themselves to care more about trying to save their own skins than the national interest.

If you think that this is simply money to rescue Wall Street from its previous bad decisions then you really haven't read enough to understand what's at stake. Further weakening the economy just to spite a small group of overpaid investment bankers is the daftest thing that Congress could effectively vote to do. The markets are so far reasonably sanguine because they are expecting the bill to pass with some modifications, but largely in the same form. To continue to reject it would be suicidal - but can we expect the reps to EVER get something right?
Sarge at 08:32 PM JST - 1st October

f&c - "the republicans have shown themselves to care more about trying to save their own skins than the national interest"

More like, the Republicans have shown themselves to care more about the national interest than the Democrats. Still, kudos to the 90 or so Democrats who voted against the boondoggle. What's it to you, anyway?
frontandcentre at 10:28 AM JST - 2nd October

"What's it to you, anyway?"

I think that comment summarises your considerable lack of understanding about this situation.
YangYong at 05:17 PM JST - 2nd October

No Sarge it's YOU agreeing with us, well done.
Sarge at 05:30 PM JST - 2nd October

f&c - Perhaps you can enlighten me as to why you're so concerned about the internal affairs of another nation.

YangYong - I agreeing with you, you ageeing with me ( on this issue ), whatever - you need to talk to frontandcentre - he thinks this boondoggle is necessary.
cleo at 05:41 PM JST - 2nd October

Perhaps you can enlighten me as to why you're so concerned about the internal affairs of another nation.

Perhaps because it isn't an internal affair?

a vote that shook the government, Wall Street and markets around the world
USARonin at 05:46 PM JST - 2nd October

Cleo, than you need to look toward your own government and figure out why you feel they're not lookin' after your best interests.

Don't fawn this off on the US when the problem lies in your own backyard.

That would be... wrong.
Sarge at 06:58 AM JST - 3rd October

Cleo - We can't help it if the rest of the world wants to follow us.
barfly08 at 04:46 PM JST - 3rd October

"Cleo, than you need to look toward your own government and figure out why you feel they're not lookin' after your best interests.Don't fawn this off on the US when the problem lies in your own backyard."

USARonin, I totally agree. Too many nations out there were more than eager to jump on the "sell it to the Americans" band wagon for dozens of years ! They shut down their markets to US products and sold-sold-sold to the US. Then they turned around to double dip by investing in the Americans banks and stock markets. Well, when American factories started to shut down and move overseas, not much squakin there. But then oil pricesd went through the roof and factories really started to close down. All those home mortgage payments went bust and viola ! A world-wide credit crunch with everyone pointing the finger at Uncle Sam. Listen up worlds, do yerself some good... buy American ! Get them US factories up and runnin ! Put more money back in the pocket of "your" consumers and watch the benefits come back to you.