Senate passes 800 billion bail out plan.

*JackThe Ripper* · 10-01-2008, 10:20 PM

yuppers

slapped another 100billion onto the tab and passed it

http://www.msnbc.msn.com/id/26953481/

krazypony · 10-02-2008, 07:05 AM

Now if only the house will make a ruling quickly and pass this...

r3dn3ck · 10-02-2008, 09:19 AM

why so stupid people won't be broke and homeless and stupid? So idiots don't lose the houses they couldn't afford in the first damn place because they're poor? this is the single most retarded thing the senate has ever done. They've caused the next great depression instead of saving us from it.

You can't just print 800 billion fuckin dollars and they sure as shit ain't got it laying around. So where's it going to come from? Me and you will now own 800 billion bucks worth of NOTHING. They're buying sacks of FAIL from banks so the banks won't have to run themselves like a god-damned business. Mortgages that can NEVER be collected on will be an asset owned by the american people... how special. Letting dumbasses renegotiate their mortgages... uhhh no. If you signed up for a stupid deal then suck it and drink in those juicy consequences. The banks lent out the cash to asschowders with no bloody money to begin with so they could buy houses they couldn't afford and the banks knew what was happening and did nothing. They deserve to go out of business and everyone else that gets touched by the pain deserves to take a hit because we all let it continue.

Cool, so print 800 billion dollars and now the dollar is worth half as much, gas prices shoot back over 5 bucks a gallon (but banks are making loans), prices for grain products triple, millions of smelly stuck-up sticky-beak tourists from europe flock over here cuz the euro is trading at $3.50:1, people that were in a good place financially due to good planning and hard work end up assed out in the cold cuz they now can't afford to eat. So some dumbass won't lose the house he should never have bought.

Wow... when by the way did it become the job of the government to fuck wtih wall st? Where is that in the Constitution? oh yeah... IT'S NOT!

r3dn3ck · 10-02-2008, 09:23 AM

I've already begun sending emails to each and every state rep to defeat the bill or lose it in committee.

King · 10-02-2008, 09:26 AM

Not only did they add $100 billion dollars, but they raised the FDIC insurance limit to $250,000. Which would be great if we had the money, but seeing as our nation is trillions of dollars in debt, and the fact that we want to borrow almost another trillion dollars I'd say it's a bad idea.

WNRacing · 10-02-2008, 09:46 AM

Pretty much unbelievable. I'm just about ready to give up on ths country.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Dave04Mustang · 10-02-2008, 09:49 AM

were not even borrowing it.. it's just monopoly money basically. Like r3d said we have nothing to back the money. Either way it was stupid to bail out these companies while each CEO made multi-millions. Our government has gone retarded and doesn't get it because they all have their nice government income and have no idea what its like in the "real world". At this rate the Peso will be worth more than the USD soon... The WaMu CEO I believe made like 13 million dollars after the bank went down the shitter for only 3 weeks of work.... yeah OK take his 13 million and throw the bastard in jail. Along with the others. They take what all those guys made from Lehman bros, etc and they could put a dent in the national debt haha

Lazerred6 · 10-02-2008, 09:53 AM

The damn bickering about which political party is to blame is starting to piss the hell out of me. Some Americans need to take that big pointer finger they have and stick it straight up there asses. The problem is our who economy is based on debt now people buy and sell it cause we don't have money anymore. 6 out of 10 people in America are in debt and a good part of them have no plan to or no way to ever pay it back. The only way to fix this is for everyone causeing the problem to accept the blame and start paying more than the minimum balance on there debts..... Fat chance of that happening so were all fucked

Just for clarification I'm not talking about people will home loans or car payments

unless you make 25,000 a year and drive and escalade or got financed for a $200,000 home

I'm talking about the people 20,000 deep in credit card debt and still diving because they want to live beyond their means

I Have a credit card but you better beleive that it has $0 balance once a month

jjtgiants · 10-02-2008, 10:12 AM

Quote:

Originally Posted by r3dn3ck

why so stupid people won't be broke and homeless and stupid? So idiots don't lose the houses they couldn't afford in the first damn place because they're poor? this is the single most retarded thing the senate has ever done. They've caused the next great depression instead of saving us from it.

You can't just print 800 billion fuckin dollars and they sure as shit ain't got it laying around. So where's it going to come from? Me and you will now own 800 billion bucks worth of NOTHING. They're buying sacks of FAIL from banks so the banks won't have to run themselves like a god-damned business. Mortgages that can NEVER be collected on will be an asset owned by the american people... how special. Letting dumbasses renegotiate their mortgages... uhhh no. If you signed up for a stupid deal then suck it and drink in those juicy consequences. The banks lent out the cash to asschowders with no bloody money to begin with so they could buy houses they couldn't afford and the banks knew what was happening and did nothing. They deserve to go out of business and everyone else that gets touched by the pain deserves to take a hit because we all let it continue.

Cool, so print 800 billion dollars and now the dollar is worth half as much, gas prices shoot back over 5 bucks a gallon (but banks are making loans), prices for grain products triple, millions of smelly stuck-up sticky-beak tourists from europe flock over here cuz the euro is trading at $3.50:1, people that were in a good place financially due to good planning and hard work end up assed out in the cold cuz they now can't afford to eat. So some dumbass won't lose the house he should never have bought.

Wow... when by the way did it become the job of the government to fuck wtih wall st? Where is that in the Constitution? oh yeah... IT'S NOT!

I agree for the most part, especially about people getting into houses they couldn't afford and the banks knew it. A while back before I purchased my current home and the market was booming my wife and I got approved for a $600k loan. There is no way on gods green earth could we afford a payment on a $600k house, but the bank that approved us could give two shits cause the guy that pushed it through just wanted his commission. It's the banks fault for allowing stuff like that to happen, but the fraud that was committed on a daily basis by the people in the mortgage industry was crazy.

My wife used to work in the mortgage industry and she was part of this dudes team that was making so much money that he was taking his team on trips to vegas and out to Ruth Chris every month ect....It was just crazy.

The only thing I would mention is there is a large group of us that did everything right.....got a loan we could afford, got a fixed interested rate ect....and the economy took a dive and one our incomes went away, which all of the sudden lumps us into the group of not being able to afford the house or barely afford it. Now that my house is worth 50% less than what I paid for it, and still have a large payment I have no problem trying to take advantage of some government program to refinance my house to the current value so I can keep it. But in all reality people like myself who did it right the first time, but just had some shitty luck are going to be the ones penalized.....the jackasses that made bad decisions will benefit, not me.

I only bring that up because I get a bit defensive when people like myself who did things right get lumped in with the dumb asses that got in way over their heads.

r3dn3ck · 10-02-2008, 11:45 AM

agreed jjt. I often overlook those that just got boned. Still, we agree on who caused this and why.

You see folks... this has to say something. JJT is an admitted liberal and I'm a pretty hard core conservative (notice no party names...I'm not a republicrat) and we can agree on this without any heavy discourse because it's just common sense.

Now look at the senate, full of grossly rich asshats with their hands in businesses which they're handing billions to. How many senators do you think own stock in J.P. Morgan-Chase-WaMu-Providian-Guam? How many are by profession (other than being lawyers) capital investors? Most, on both counts. They manage to get 83 Senators to agree with each other that 800 BILLION bucks needs to be given to entities which they own large swaths of and stand to gain a direct benefit from saving... hmmmm. Wonder if there's any corruption there. It couldn't be that they see exactly the opposite of what the people seem to want as the best way to keep their jobs. I mean seriously... senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me?

On an aside, if you spent $10,000 every minute non-stop for 1521 years you'd spend about that much. Think about that... that's 1.44 MILLION bucks a day since the fall of the Roman empire.

jjtgiants · 10-02-2008, 12:16 PM

[quote=r3dn3ck;355605]senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me?QUOTE]

LOL....that's the truth.

Black Sunshine · 10-02-2008, 12:45 PM

Quote:

On an aside, if you spent $10,000 every minute non-stop for 1521 years you'd spend about that much. Think about that... that's 1.44 MILLION bucks a day since the fall of the Roman empire.

I did think about it, and I think your math may be off… unless I’m the one that is wrong, or I may have misunderstood something. I am no math whiz.

Also, pardon me for writing it all out. It is easier for me to comprehend that way.

There are 60 minutes an hour.
There are 24 hours a day.
There are 365 days a year.

60 minutes a day * 24 hours a day = 1,440 minutes in a day.

$10,000 spent every minute * 1,440 minutes = $14,400,000 worth of spending a day.

$14,400,000 spending a day * 365 days in a year = 5,256,000,000 spent a year.

$5,256,000,000 spent a year * 1,521 years = $7,994,376,000,000 spent total.

It would take you a little over 152 years to spend $800,000,000,000, not 1,521 years.

You'd have to go back to the year 1856 or so, which is a far cry from the fall of the Roman Empire.

Did you get that out of a circulated e-mail, Red? My boss got one the other day, and we all sat down, did the math, came up with the same answers, and determined the e-mail was wayyyyyy off.

But hell, I could still be wrong. Someone correct me if I am.

King · 10-02-2008, 01:19 PM

Hey at least his math isn't as bad as the $425,000/$425 email I posted on here last week.

Lazerred6 · 10-02-2008, 01:24 PM

If you do it 1,000 dollar a miniute it will work

Stephen4036 · 10-02-2008, 01:27 PM

whats with all the good will hunting math... 800billion is a billion dollars a day for 800 days!

Black Sunshine · 10-02-2008, 01:30 PM

Quote:

Originally Posted by Stephen4036

whats with all the good will hunting math... 800billion is a billion dollars a day for 800 days!

True, haha. I don't like to automatically believe everything I read, especially in regards to politics, so I try to figure things out for myself.

00blkstanggt · 10-02-2008, 01:40 PM

Quote:

Originally Posted by Stephen4036

whats with all the good will hunting math... 800billion is a billion dollars a day for 800 days!

Yeah but that doesn't sound as cool as dating back to the Roman Empire.

Stephen4036 · 10-02-2008, 02:29 PM

Quote:

Originally Posted by 00blkstanggt

Yeah but that doesn't sound as cool as dating back to the Roman Empire.

if ceaser had 800 billion dollars his great great great grandson would be running the world.

*JackThe Ripper* · 10-02-2008, 02:49 PM

i dunno...

I have a hard time believing this was a good idea, i have a hard time beluieveing anything i hear about this crasp because usually either side FOR or AGAINST is so full of hyperbole and doomsday sayings that i guess we were fucked either way.

but god damn... 800 billion... jesus that is a lot of money... personally i say let the banksowners for fuck themselves in the unemployment line

but... money talks

*venom* · 10-02-2008, 02:57 PM

If this passes I know that our government just makes decisions based on whos in office and who they are in bed with. We are not governed by the people but by politicians who want to rule the masses plus stuff their pockets with wealth and desires of every lasting fame. I feel like we are in the Matrix. Are we truly free or is it just the illusion of freedom and choice that keeps this nation intact. Im afraid its the latter folks and we keep taking the blue pill.

r3dn3ck · 10-02-2008, 03:20 PM

yeah... I boneheaded the calculator... my bad. <hangs head in shame> misplaced a decimal

10-02-2008, 07:05 AM	#2 (permalink)
krazypony Senior Member Join Date: Jul 2007 Location: Liberty, SC Posts: 903	Now if only the house will make a ruling quickly and pass this... __________________

10-02-2008, 09:19 AM	#3 (permalink)
r3dn3ck Wowbagger hates me too! Join Date: Nov 2005 Location: Magrathea/California Posts: 7,311	why so stupid people won't be broke and homeless and stupid? So idiots don't lose the houses they couldn't afford in the first damn place because they're poor? this is the single most retarded thing the senate has ever done. They've caused the next great depression instead of saving us from it. You can't just print 800 billion fuckin dollars and they sure as shit ain't got it laying around. So where's it going to come from? Me and you will now own 800 billion bucks worth of NOTHING. They're buying sacks of FAIL from banks so the banks won't have to run themselves like a god-damned business. Mortgages that can NEVER be collected on will be an asset owned by the american people... how special. Letting dumbasses renegotiate their mortgages... uhhh no. If you signed up for a stupid deal then suck it and drink in those juicy consequences. The banks lent out the cash to asschowders with no bloody money to begin with so they could buy houses they couldn't afford and the banks knew what was happening and did nothing. They deserve to go out of business and everyone else that gets touched by the pain deserves to take a hit because we all let it continue. Cool, so print 800 billion dollars and now the dollar is worth half as much, gas prices shoot back over 5 bucks a gallon (but banks are making loans), prices for grain products triple, millions of smelly stuck-up sticky-beak tourists from europe flock over here cuz the euro is trading at $3.50:1, people that were in a good place financially due to good planning and hard work end up assed out in the cold cuz they now can't afford to eat. So some dumbass won't lose the house he should never have bought. Wow... when by the way did it become the job of the government to fuck wtih wall st? Where is that in the Constitution? oh yeah... IT'S NOT! __________________ Built 5.5L 2v and Maximum Motorsports Max Grip box. www.squarerootofone.com

10-02-2008, 09:23 AM	#4 (permalink)
r3dn3ck Wowbagger hates me too! Join Date: Nov 2005 Location: Magrathea/California Posts: 7,311	I've already begun sending emails to each and every state rep to defeat the bill or lose it in committee. __________________ Built 5.5L 2v and Maximum Motorsports Max Grip box. www.squarerootofone.com

10-02-2008, 09:26 AM	#5 (permalink)
King 4v 281 sucka Join Date: Jan 2008 Location: Colorado Posts: 1,876	Not only did they add $100 billion dollars, but they raised the FDIC insurance limit to $250,000. Which would be great if we had the money, but seeing as our nation is trillions of dollars in debt, and the fact that we want to borrow almost another trillion dollars I'd say it's a bad idea. __________________ -Nick sig by PColaV6 "My fellow colleague and friend, Tiny Fey, recent said that bitch is the new black. Well black is the new President, bitch." - Tracy Morgan, SNL

10-02-2008, 09:46 AM	#6 (permalink)
WNRacing Drives a Dodge.. Join Date: Sep 2007 Location: Gallatin, TN Posts: 3,461	Pretty much unbelievable. I'm just about ready to give up on ths country. http://www.youtube.com/watch?v=_MGT_cSi7Rs __________________ -Evan 2003 Dodge Stratus R/T

10-02-2008, 09:49 AM	#7 (permalink)
Dave04Mustang Not Banned Join Date: Jul 2006 Location: Austin, TX Posts: 2,373	were not even borrowing it.. it's just monopoly money basically. Like r3d said we have nothing to back the money. Either way it was stupid to bail out these companies while each CEO made multi-millions. Our government has gone retarded and doesn't get it because they all have their nice government income and have no idea what its like in the "real world". At this rate the Peso will be worth more than the USD soon... The WaMu CEO I believe made like 13 million dollars after the bank went down the shitter for only 3 weeks of work.... yeah OK take his 13 million and throw the bastard in jail. Along with the others. They take what all those guys made from Lehman bros, etc and they could put a dent in the national debt haha __________________ sig by PcolaV6 Last edited by Dave04Mustang : 10-02-2008 at 09:56 AM.

10-02-2008, 09:53 AM	#8 (permalink)
Lazerred6 mmmmm cones Join Date: Jan 2008 Location: Grand Rapids MI Posts: 1,638	The damn bickering about which political party is to blame is starting to piss the hell out of me. Some Americans need to take that big pointer finger they have and stick it straight up there asses. The problem is our who economy is based on debt now people buy and sell it cause we don't have money anymore. 6 out of 10 people in America are in debt and a good part of them have no plan to or no way to ever pay it back. The only way to fix this is for everyone causeing the problem to accept the blame and start paying more than the minimum balance on there debts..... Fat chance of that happening so were all fucked Just for clarification I'm not talking about people will home loans or car payments unless you make 25,000 a year and drive and escalade or got financed for a $200,000 home I'm talking about the people 20,000 deep in credit card debt and still diving because they want to live beyond their means I Have a credit card but you better beleive that it has $0 balance once a month __________________ So this is what you voted for Last edited by Lazerred6 : 10-02-2008 at 10:09 AM.

10-02-2008, 11:45 AM	#10 (permalink)
r3dn3ck Wowbagger hates me too! Join Date: Nov 2005 Location: Magrathea/California Posts: 7,311	agreed jjt. I often overlook those that just got boned. Still, we agree on who caused this and why. You see folks... this has to say something. JJT is an admitted liberal and I'm a pretty hard core conservative (notice no party names...I'm not a republicrat) and we can agree on this without any heavy discourse because it's just common sense. Now look at the senate, full of grossly rich asshats with their hands in businesses which they're handing billions to. How many senators do you think own stock in J.P. Morgan-Chase-WaMu-Providian-Guam? How many are by profession (other than being lawyers) capital investors? Most, on both counts. They manage to get 83 Senators to agree with each other that 800 BILLION bucks needs to be given to entities which they own large swaths of and stand to gain a direct benefit from saving... hmmmm. Wonder if there's any corruption there. It couldn't be that they see exactly the opposite of what the people seem to want as the best way to keep their jobs. I mean seriously... senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me? On an aside, if you spent $10,000 every minute non-stop for 1521 years you'd spend about that much. Think about that... that's 1.44 MILLION bucks a day since the fall of the Roman empire. __________________ Built 5.5L 2v and Maximum Motorsports Max Grip box. www.squarerootofone.com

10-02-2008, 12:16 PM	#11 (permalink)
jjtgiants jjtgiants Join Date: Jan 2005 Location: Dublin, CA Posts: 3,874	[quote=r3dn3ck;355605]senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me?QUOTE] LOL....that's the truth.

10-02-2008, 01:19 PM	#13 (permalink)
King 4v 281 sucka Join Date: Jan 2008 Location: Colorado Posts: 1,876	Hey at least his math isn't as bad as the $425,000/$425 email I posted on here last week. __________________ -Nick sig by PColaV6 "My fellow colleague and friend, Tiny Fey, recent said that bitch is the new black. Well black is the new President, bitch." - Tracy Morgan, SNL

10-02-2008, 01:24 PM	#14 (permalink)
Lazerred6 mmmmm cones Join Date: Jan 2008 Location: Grand Rapids MI Posts: 1,638	If you do it 1,000 dollar a miniute it will work __________________ So this is what you voted for

10-02-2008, 01:27 PM	#15 (permalink)
Stephen4036 Wuhhhh PAHHHH Join Date: Jun 2008 Location: Orlando, FL Posts: 1,911	whats with all the good will hunting math... 800billion is a billion dollars a day for 800 days! __________________

10-02-2008, 02:57 PM	#20 (permalink)
venom Super Moderator Join Date: Sep 2004 Posts: 5,589	If this passes I know that our government just makes decisions based on whos in office and who they are in bed with. We are not governed by the people but by politicians who want to rule the masses plus stuff their pockets with wealth and desires of every lasting fame. I feel like we are in the Matrix. Are we truly free or is it just the illusion of freedom and choice that keeps this nation intact. Im afraid its the latter folks and we keep taking the blue pill. __________________ http://www.mustangboards.com/mustang...500/ppuser/103

10-02-2008, 03:20 PM	#21 (permalink)
r3dn3ck Wowbagger hates me too! Join Date: Nov 2005 Location: Magrathea/California Posts: 7,311	yeah... I boneheaded the calculator... my bad. <hangs head in shame> misplaced a decimal __________________ Built 5.5L 2v and Maximum Motorsports Max Grip box. www.squarerootofone.com

10-02-2008, 03:38 PM	#22 (permalink)
Badfish Listen to reggae. Join Date: May 2005 Location: Colorado Springs, CO Posts: 9,245