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Senate May Try to Revive Bank-Rescue Bill as Early as Tomorrow
Alison Fitzgerald and Matthew Benjamin
Bloomberg
Tuesday, Sept 30, 2008
The U.S. Senate will try to salvage a $700 billion financial-rescue package after the measure was defeated in the House of Representatives. The lawmakers won’t have a lot of room to negotiate.
While they need to tweak the legislation enough to win over reluctant Republicans, they’ll risk losing votes from Democrats if they veer too far from the delicate compromise that congressional leaders hammered out with the U.S. Treasury.
“They’re not going to totally revamp the bill,” said Pete Davis, president of Davis Capital Investment Ideas in Washington, who spoke to House and Senate leaders yesterday. “They’ll make some minor changes and pass it. This is all about political cover.”
(Article continues below)
The House rejected the legislation yesterday in a 228 to 205 vote, sending the Dow Jones Industrial Average tumbling 778 points for its biggest point drop ever and erasing more than $1 trillion in market value. The Standard & Poor’s 500 Index fell 8.4 percent, the most since Oct. 26, 1987.
Senators say they have no choice but to revive the measure, which is designed to restore confidence in the nation’s banking system.
“We don’t intend to leave here without the job being done,” said Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, who said the senators may deal with the bill as early as tomorrow.
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35 Responses to “Senate May Try to Revive Bank-Rescue Bill as Early as Tomorrow”
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September 30th, 2008 at 3:59 am
I’ve got a bailout plan: Make all the SOBs that stole all this money under false pretense GIVE IT BACK! Make the fucking loan originators and the middlemen/women who cleaned up on the housing bubble give back the commissions. Make the fucking banksters who marked up the mortgage-backed securities to whatever value they pulled out of thin air, pull all their commissions out of their collective asses and give it back.
Since when is theft legal? It seems that the only real democratic occurrence to take place in this country in recent memory was yesterday when America came together and said FUCK YOU, Wall Street, we ain’t paying your tab. Keep it up. Let the shit fall where it may. It’s like Janis sang,”… freedoms just another word for nothing left to lose”. Make believers out of these NWO assholes.
September 30th, 2008 at 4:03 am
People 1, Government 0. http://mobiusinformer.wordpres.....ernment-0/
September 30th, 2008 at 4:08 am
Amen brother!!!
I figure we’re fucked either way, why should they stay rich in the process!!!!
September 30th, 2008 at 4:48 am
HOT NEWS IN THE UK !! CRIMINALS POSING AS THE US GOVERNMENT TRIED TO MAKE OFF WITH 700BILLION DOLLARS IN THE MOST AUDACIOUS RAID THE US HAS EVER SEEN THE THIEVES POSING AS ELECTED OFFICIALS HELD THE PUBLIC TO RANSOM AND TRIED TO DO A RUNNER WITH THE DOSH-IN BROAD DAYLIGHT. AN INSIDER REVEALED THEY THOUGHT THEY WERE HOME AND DRY BUT THEY WERE CAUGHT IN THE ACT. WHEN CONVICTED THEY WILL BE TAKEN TO FEMA CAMPS AND THEN BEATEN TO DEATH. ANYONE WISHING TO TAKE PART IN THE BEATINGS PLEASE FORM AN UNRULY MOB ON CAPITOL HILL !!! KEEP AT EM BOYS AND DONT LET GO,MAY YOUR GOD GO WITH YOU
September 30th, 2008 at 4:58 am
darn let me over charge myself into bankrupsy and bail me out ! I need a new house,funature, car, I want to move to an upscale neighborhood but I dont want to spend my money, bail me out please
September 30th, 2008 at 5:00 am
Blind boy watch your language there is no need to show your uneducated ghetto education. why is eveyone against the NWO uneducated bunch of rednecks
September 30th, 2008 at 5:01 am
I am here an waiting!
You assholes, will not stop at nothing, just to take America to hell with you!
All they are doing, is North America Union!
Just as soon as the dollar falls.
Someone must put them inside one of those FEMA Camps!!
September 30th, 2008 at 5:04 am
“We don’t intend to leave here without the job being done,” said Banking Committee Chairman Christopher Dodd.
Huh??? The job was done. The bill was declined. NEXT!!
September 30th, 2008 at 5:10 am
Filthy thieves. They are trying to sneak.
No more sneaking ! The people are on to them.
I will quit my job and live off my land before I pay anymore to the mafia run regime in the white house.
September 30th, 2008 at 5:15 am
How can McCain describe himself as a Maverick and a Fiscal conservative after supporting the bailout swindle?? He no longer can be seen as an expert in economics but only as a team player with the government–banking complex. It is now almost impossible for him to attract voters who believe in the free market system and responsible government. The only way that he can be elected is by constantly talking about national security and the Iranian threat in the Middle–East. If he can get enough Americans frightened they will look to him as an experienced warrior who can defeat the foe. But his call to arms might not be loud enough to make him our next president.
September 30th, 2008 at 5:18 am
there coming around for a second try. dont be surprised if it passes, maybe the first rejection was simply orchastrated?
September 30th, 2008 at 5:23 am
just going to chill for a few hours and listen to some music -money pink floyd -everybody wants to rule the world -tears for fears-backstabbers-ojays that will do for starters
September 30th, 2008 at 5:23 am
welcome to amerika
http://ca.youtube.com/watch?v=Vv3yuRdD2oE
September 30th, 2008 at 5:26 am
Privatized Profits and Socialized Losses. The Haves party, the Have-Nots are left holding the bill. But this could be expected with a (p)resident who said: “This is an impressive crowd — the haves and the have-mores. Some people call you the elites; I call you my base.”
September 30th, 2008 at 5:31 am
The reason for this fight is that there really is no alternative to this plan than a complete bankruptcy reorganization of the entire US banking system under federal law.
This means that the speculators and banksters will take a bath, rather than the American people.
It really is a choice between freedom and total fascism that is being fought out right now in the Congress.
September 30th, 2008 at 5:49 am
This is a good time to get rid of the Federal Reserve. We are already way beyond broke and don’t need to be saddled with anymore debt. This is the “coup de grace”, the great final monkey wrench that at will thrown in the machine to destroy our country. What’s the big rush, this has been along time coming. The responsible parties have to be identified and neutralized. Thankyou to the people who voted against this vile bill.
September 30th, 2008 at 5:54 am
This is a repeat of the Eoropean Union (sic). When member States vote against their plans the go back and back telling them to Vote until they get a YES vote-as in the case of Ireland. Democracy my arse…..facisim.
September 30th, 2008 at 6:23 am
If I fail to repay a debt, I’m harassed into paying up. If a Wall Street Gambler fails to repay a debt, I’m harassed into paying up.
Now that _my_ debts are paid, maybe all that debtor’s prison talk a few years back WASN’T such a bad idea… Though the Wall Street Gambler may disagree.
September 30th, 2008 at 6:33 am
whoever votes for a revived bailout, VOTE THEM OUT OF OFFICE !!!!!!!!!!
http://www.youtube.com/watch?v=BSxYIBSuBtk
September 30th, 2008 at 6:58 am
They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason
http://www.youtube.com/watch?v=uw5dP5gy2Vs
September 30th, 2008 at 7:11 am
Impeachment First!
Jail Before Bail!
September 30th, 2008 at 7:16 am
They were in such a hurry to implement their plan (Kill the Republic) and then it failed
Why are they not in session today or tomorrow to discuss alternatives to this so called dire threat to the economy ?
They are not in session because they all get paid days off for a Jewish Holiday
I guess the dire threat was only in their minds
Seek the truth and it will set you FREE !!!
September 30th, 2008 at 7:38 am
There is a new beginning on the horizon. the big bad boys are now out of the banking business and three large American banks will become leaders in the recovery without any need for a government bailout. They are the bank Of America, J.P. Morgan and Citi Bank. But the big bad Wolves are still not dead. They have some friends in congress that are still trying to give them 700 billion dollars so they can get back in the game of fleecing the American public. The latest trick is a con job to make people believe that there is a new bailout bill being written. But it is the same swindle with the paragraphs put in different places and the words more deceiving. It is now up to the American public to let their Congressmen know that they want the new bailout proposal rejected.
September 30th, 2008 at 7:40 am
Here some food for thought… The horrible Time Magazine is AGAINST the bailout…. But here’s why:
“Let financial institutions fail, merge or be bought out. The faltering institutions will see their shares devalued and will be likely to be taken over by stronger institutions — as has already started happening. This consolidation of the financial sector is both efficient and inevitable; government action can only delay the adjustment.
The government should not intervene. It should leave overleveraged financial institutions to default on their derivatives obligations and, if necessary, file for bankruptcy. ”
time.com/time/business/article/0,8599,1845209,00.html?cnn=yes
Take over? Consolidation? Looks like they have a win/win situation on their hands..
September 30th, 2008 at 7:49 am
You guys are so very right that the politicians on the hill will attempt to reword and pass their socialist bill. We’ll have to do the same thing we have done for the last week or so by burning up your representatives, and again tell them to let the fat asses on the corner of Wall and Broad or start looking for new jobs. I lost $3000 in 401k yesterday and it was well worth it seeing these rich guys freak out, poor pitiful them. And our failed president looking like he had seen a ghost. Twas rich! The media is all over the fear mongering this morning, while stocks recover over 200 points. Global markets did not crumble over night, imagine that. The markets need a good cleansing enema. Presented with bread or freedom Americans chose freedom, good on ya! Keep it up. You “NWO” guys need to chill out, you are only partly right, but waaaay more off than right. YouTube is not a source of news, I can edit a video of my butt and call it birthday cake on YouTube. 9-11 was not an inside job plotted by the ZIONIST JEW NWO. But for sure the administration knew it was coming and loved every minute of it to seize more power than what was legal at the time. And yup they duped us right into into it. At that time dial-up internet was $30 a month and not very many people has access to computers to learn the things we know now. You guys are making everyone who wants investigations, oversight and purging of our American mess; look like a bunch of nuts. You guys are twisting everything Dr.Paul has said and have made him look as nutty as you. The media hated him anyways and you guys just made it easier to ignore him. The American government wants full control of its people, peoples cash and assets. So maybe you should change this to New American Order. Globalization is not some ploy for a one world uncontested government, its a way for the big guys to rape the little guys of their goods and monies much easier. In the meantime threatening national sovereignty. A country with a wide open southern border is not exactly serious about national security. There are waay too many big ego power jocking countries out their to every share one big government. What we are seeing is classic, same stuff different year people fighting to be the super power or align themselves with, or for alliances against these big powers. Jews are not bastards, the Israeli government are bastards, which the US needs to scale back if not just all out stop supporting. Definitely stop arming! There will be no martial law unless people are just down with it. You cannot militarily suppress 300 million armed and angry people. Would be suicidal to try. All the US government has on its people is influence, this propaganda machine is phenomenal! They love to scare people into submission, cover up truths, and even sabotage here and there. You guys actually believe everything you read on these sites? Haha. Don’t get me wrong, without them people would’nt open their eyes and investigate anything. Kudos and thanks Alex. But Infowars, Prison Planet, FoxNews, CNN, and many many others are fear mongering just from different sides. That makes you guys sheep from a different herd. Stop talking and take off your tin foil hats, and actually do something. Make calls, send email, PROTEST! Don’t sit around with your every American is fat, stupid, lazy, arrogant, slave, etc etc. You are hurting the cause of Americans with real dissent..Oh yea wait “THATS WHAT “THEY” WANT ME TO THINK!!! ITS ALL APART OF THE PLAN! HERD THE SHEEPLE! GO RED TEAM GO! PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN” Lol. Stocks are soaring..If you have any money I’d get some shares of Apple while its low..Discounts all around folks.
September 30th, 2008 at 7:51 am
Of course they will try to do it tomorrow. The bill wasn’t stopped by outrage from the people, the bill was stopped because it was released BEFORE Oct. 1st! They wouldn’t dare screw us liek that until the battalions get here. As soon as those battalions role in and they’re cocked and locked that bill will pass no matter how many of us say no to it!
September 30th, 2008 at 9:31 am
McCain urges Treasury Department to take action 45 minutes ago
DES MOINES, Iowa – Republican presidential nominee John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen.
Opening a business round-table Tuesday in Des Moines, Iowa, McCain said he has urged the Treasury to use its exchange stabilization fund “as creatively as possible” to backstop the market crisis. He says officials also should use the authority granted in a housing bill to purchase up to a trillion dollars in mortgages.
McCain decried the defeat of the financial bailout measure in the House, and he warned that the nation’s political leaders will have to take risks even though solutions to the crisis may be unpopular.
Just a question… If the housing bill already authorized the FED’s to purchase 1 trillion in bad mortgages, why are they pushing for this “bailout”? Is something screwy going on here or is it just me?
September 30th, 2008 at 9:36 am
Thomas Jefferson
“If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”
http://www.youtube.com/watch?v=1V5iCUBEUx4
September 30th, 2008 at 10:17 am
This was all predicted a long time ago. We now have the script and know where things are going.
http://www.youtube.com/watch?v=Yul0nnilILw
September 30th, 2008 at 10:18 am
The new world order is desperate, and we now see the true faces exposing themselves.
They know that they are about to loose the power and control of this planet.People of planet earth see and better understand what is about to happen. Disclosure is near , prepare
September 30th, 2008 at 10:33 am
Voting is not in the hands of the public to decide who is to win. We the “sheep” are flocked to where the herder leads. Our American public is drunk in a delusional state of mind, corrupted from the boob tube and media to tell us what to think. I am worried of our outcome, due to so small is the amount of people who are really IN THE KNOW, and dare to publicly speak out on the truth or to be shunned and made insane idiots by a larger mass the media controls. The question at hand is HOW we are to get the masses to KNOW the truth, without disappearing suddenly, so we may be like ants and over power to take back our lives, education, money, and country once again. They have planned for a century what they are implementing now. Be smart pass the word on. They do not like exposure.
September 30th, 2008 at 10:34 am
Here lies the information you need to know:
http://illuminatimatrix.wordpr.....symbolism/
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Don’t say you weren’t warned.
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September 30th, 2008 at 12:10 pm
Hey, stop with the whining about ‘market losing 1.2 trillion’ yesterday. It just reclaimed .6 trillion today. And for all the reality challenged out there.. someone TOOK that 1.2 trillion. It didn’t just ‘disappear’. Care to take a guess at just WHO that was?
There is no emergency, just a bunch of rich criminals who don’t want to lose a penny of what they stole, and would like us to take their losses and shut up.
September 30th, 2008 at 1:14 pm
FYI: It is illegal to take taxpayer money and give it to private corporations. It’s called theft. That’s why today I cleared out my money market account in CASH($64421.79) I can at least keep these bastards from making usurous loans in theneighbeohood of 800K. Screw ‘em
September 30th, 2008 at 7:58 pm
It would seem that another Pearl Harbor event is required.