Some very stupid people have destroyed our economy today

[ThomWV]

By the end of this week you will know just how badly they have failed us.

[dailykoff]

1. Cry me a river.

:nopity:

[WillParkinson]

2. Destroyed our economy?

Hrm. Pretty sure it was in deep doo-doo a long time ago.

[melody]

3. The stupid people are going to find out the hard way

As will the rest of us.

[dipsydoodle]

4. Some very stupid people

had already destroyed your economy long ago - so what's new :shrug:

[slampoet]

5. Those stupid people are TRADERS. Not Congress.

[rucky]

6. If we hadn't have voted TODAY, would the market have done this?

The market is very clearly reacting to the vote.

Why did we need a vote today - before anybody really had an understanding of the plan?

[moodforaday]

19. For the same reason

the Congress needed to vote on the Patriot Act without having had enough time to read it, let alone understand what was at stake. The same reason it was necessary to go to war with Iraq before Saddam nuked Wahington. The same reason really Bush sent Card and Gonzo to wrestle the signature from bedstricken Ashcroft to keep up the illegal wiretaps running. The same reason it was necessary to immunize telecoms from prosection, or else the terrorists would have won.

In other words, it was a cold-blooded bluff.

[rucky]

22. that's what my gut says, as well.

[girl gone mad]

7. Some very dumb people (Republicans) saved our dollar..

and some smart people (Dems like Kucinich and Lee) kept us from being handed the bill for Wall Street's failures.

[Barack_America]

8. Thank God I'm paid by the government.

All of you out there working for companies, particularly small business, I really feel for you.

I mean that sincerely.

[rucky]

14. Thanks.

Now get back to work!

[Barack_America]

17. I'm like Barack...

I know how to multi-task. ;)

[cui bono]

9. The stupid people can put their golden parachutes in the bailout pot.

And they can sell their yachts and jets and all their summer and winter homes and scale down their standard of living and pay fo their own fucking mess.

[Winterblues]

10. It would appear that you are calling 75% of the American people Stupid.

I think that was the figure I ehard of those that opposed the bill and according to Congressional staffers the people that bothered to contact them were more like 85% opposed to it..I agree america is made up of some very stupid people but in this case I don't think the term is applicable.

[western mass]

11. You mean Wall St, right?

The ones who created the mortgage loan Ponzi scheme that's crashing down around us?

[Naturyl]

12. Those very stupid people are THE RICH.

As usual, their greed has put us all over a barrel again.

This bill didn't pass because it was a BAD bill. Read Michael Moore's e-mail about it.

[Cleita]

13. The problem is that there is an effective way to do this bailout and

that is to nationalize the institutions that are going down, however, it seems no one in Washington is even discussing this alternative.

[bdamomma]

25. I think there are other options too

we need a second opinion.

[Trillo]

26. ding ding ding,

we have a winner.

[lib2DaBone]

15. I don't think so Thom... the jury may still be out...

This was the Iraq War vote all over again. With the Dems being stampeded and thrown a few table scraps for being obedient. If they really want to help the economy.. the Dems should push for a freeze on Mortgage Foreclosures and the right to re-negotiate adjustable rate loans to keep people in their homes... That wouldn't cost $700 Billion and it wouldn't give unlimited power to Bush and his cronies.

[polmaven]

28. I totally disagree.

The original bill - yes! The revised bill, no, I don't think so. Sitting back doing nothing is what brought this to this point to begin with. Doing nothing is no longer an option.

The bill that just failed in NOT the Bush/Paulson bill that was originally filed. Not by a long shot.

I have a good deal of faith in Barney Frank's judgment. He is not, buy any stretch of the imagination, a Republican pawn, and he is not easily duped.

I don't imagine he will just sit back and do nothing now, however, so I may not be as frightened as some others, but there is most certainly cause for concern.

[LSK]

16. not today but for the past decade

The damage was done a long time ago.

[fifthoffive]

18. There's more to this than mortgages

With no credit available, companies will start going under and unemployment will skyrocket. Unfortunately the economy is driven by debt.

Of course, we could always bring the troops home and save the billions of dollars we are throwing away in Iraq. Then there might be money for programs similar to the New Deal era to get people working again.

[johnfunk]

20. EPIC FAIL = Opportunity for REAL HEARINGS

Time for progressives to DEMAND JOINT CONGRESSIONAL HEARINGS

Let's get some hearings WITHOUT Henry "Pat" Paulson and Ben "Helicopter Boy" Bernanke.

Let's get Joseph Steiglitz and Nouriel Roubini to give both sides some advice on fixing the Culture of Wall Street Investment Bank Corruption.

CALL! Start with the Senate Banking and House FS Committees.

Senate Committee on Banking
534 Dirksen Senate Office Building
Washington, D.C. 20510
[phone]

House Financial Services Committee
Democratic Staff
2129 Rayburn House Office Building, Washington, DC 20515
[phone]

[highprincipleswork]

29. Done - this is great information

Amidst all else we can do, this is a great proposal. So, just called, and actually found a responsive, thinking person at the other end of the line.

Apparently the sky hasn't fallen just yet. does anyone think that financial markets will still be around at the end of this crisis?

If a plan is to be enacted, it needs to be an intelligent plan. And proper hearings, with the weight of more proposals and more enlightened and less obviously biased experts, would be a great step.

Thanks for this.

[highprincipleswork]

30. Done - this is great information

Amidst all else we can do, this is a great proposal. So, just called, and actually found a responsive, thinking person at the other end of the line.

Apparently the sky hasn't fallen just yet. does anyone think that financial markets will still be around at the end of this crisis?

If a plan is to be enacted, it needs to be an intelligent plan. And proper hearings, with the weight of more proposals and more enlightened and less obviously biased experts, would be a great step.

Thanks for this.

[pnutbutr]

21. The market

is tumbling right now. People are losing their retirement and savings. Lets all cheer. :eyes:

Another epic failure by congress.

[Dorian Gray]

23. The Republicans

have failed us. Big Shocker.

Wow. I'm stunned.

Stunned.

[TBF]

24. Aw, your poor portfolio. Give me a break.

[leftofthedial]

27. nothing that happened today "destroyed our economy"

doing that took the republicans 28 years.

[Naturyl]

31. Can we nationalize now?

Nope, but wouldn't it be nice?

[Kickin_Donkey]

32. Pure hyperbole ...

"Oh, the sky is falling!"

The economy has been dismantled bit by bit at least since the 1970s.

That was bad legislation that deserved to die.

[BuyingThyme]

33. The stupid people are the ones who are still invested

and think the intelligent people are obligated to bail them out.

[dkofos]

34. The people that destroyed the economy have been doing it for years.

The BAILOUT was never more than a TRILLION dollar bandaid.