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frankthetank
Fusion
Joined: Sep 16, 2004
Posts: 4936
Location: Southwest WI
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 Posted: Thu Sep 25, 2008 10:09 pm Post subject: Re: Bailout talks collapse |
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Hopefully some of these clowns actually have taken some heat from their constituents... I was about ready to make some signs and go protest in front of my Reps office today...
Talking to several different people today across the spectrum and EVERYONE IS AGAINST tHIS BAILOUT! Its crazy. No one that i have talked to agrees that this should go through.
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Captain_Meh
Heavy Crude
Joined: Jun 09, 2008
Posts: 109
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| Posted: Thu Sep 25, 2008 10:20 pm Post subject: Re: Bailout talks collapse |
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Hearing some weird things second-hand tonight:
Folks not being able to access their 401(k) accounts on-line.
Rumors of the NYSE not opening tomorrow. |
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Buggy
Heavy Crude
Joined: Jun 23, 2008
Posts: 149
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| Posted: Thu Sep 25, 2008 10:21 pm Post subject: Re: Bailout talks collapse |
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| frankthetank wrote: | Hopefully some of these clowns actually have taken some heat from their constituents... I was about ready to make some signs and go protest in front of my Reps office today...
Talking to several different people today across the spectrum and EVERYONE IS AGAINST tHIS BAILOUT! Its crazy. No one that i have talked to agrees that this should go through. |
I wrote my senator beginning of the week to let him know I was against it. So will the conservative Republicans that blocked it be praised or pummeled?
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eXpat
Light Sweet Crude
Joined: Jun 08, 2006
Posts: 1082
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| Posted: Thu Sep 25, 2008 10:23 pm Post subject: Re: Bailout talks collapse |
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Rumours floating about the metting:
| Quote: | I am told the real fireworks took place after the public hearings behind closed doors in the Senate. According to one senate staffer who claims to have witnessed the exchange, Senator Chris Dodd allegedly ripped-into Henry Paulson asking who the hell he thought he was dealing with by demanding Congress just fork-over hundreds of billions of dollars in under a week?
Paulson allegedly replied, “do whatever you want but as for the Treasury, we will not be intervening any further in the markets. When the markets crash, the banks crash and the economy goes under - and they will - the voters will blame you and dump all of you this November!”
Senator Dodd allegedly got so furious at this reply that his face turned beet red and he started roaring curses at Paulson with phrases along the lines of “you farking Wall Street douchebags. . . .” The senate staffer said Dodd and Paulson almost came to blows!! |
link
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Captain_Meh
Heavy Crude
Joined: Jun 09, 2008
Posts: 109
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| Posted: Thu Sep 25, 2008 10:33 pm Post subject: Re: Bailout talks collapse |
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LOL. What a tragic f*cking joke.
Everything that's happened over the past 2 weeks is going to seem like tiddlywinks compared to what's in store today.
I'm hitting the grocery store at 6 AM and storing up on durables, then I'm hitting my ATM limit, and then I'm filling my car up. I'm skipping work tomorrow and getting sh!t-faced as I watch the carnage unfold. |
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FreedomSlave
Heavy Crude
Joined: Nov 11, 2007
Posts: 122
Location: Portland metro, Oregon
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| Posted: Thu Sep 25, 2008 10:37 pm Post subject: Re: Bailout talks collapse |
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| Captain_Meh wrote: | LOL. What a tragic f*cking joke.
Everything that's happened over the past 2 weeks is going to seem like tiddlywinks compared to what's in store today.
I'm hitting the grocery store at 6 AM and storing up on durables, then I'm hitting my ATM limit, and then I'm filling my car up. I'm skipping work tomorrow and getting sh!t-faced as I watch the carnage unfold. |
That's probably one of the more intelligent plans I've seen yet.  |
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Captain_Meh
Heavy Crude
Joined: Jun 09, 2008
Posts: 109
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| Posted: Thu Sep 25, 2008 10:54 pm Post subject: Re: Bailout talks collapse |
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Oh man, I wish I could laugh with you.
Seriously, folks: is the WaMu seizure and sell-off the piece that sends the credit-default swap Jenga tower down? |
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Novus
Light Sweet Crude
Joined: Jun 21, 2005
Posts: 1750
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| Posted: Thu Sep 25, 2008 11:04 pm Post subject: Re: Bailout talks collapse |
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| I don't think there will be much impetus to panic on main street because of this. In fact I expect the super markets to be empty. |
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jboogy
Light Sweet Crude
Joined: Jun 06, 2005
Posts: 1294
Location: the place where smartasses dwell
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| Posted: Thu Sep 25, 2008 11:07 pm Post subject: Re: Bailout talks collapse |
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Rumours are not good in this kind of situation. If the talks collapse and nobody gets bailed it's game over. No crap you had better stock up on cash, food. This wamu thing is BAD! You might see a huge sell-off and wall st. shut down.
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Snowrunner
Intermediate Crude
Joined: Aug 24, 2005
Posts: 662
Location: Screwed
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| Posted: Thu Sep 25, 2008 11:08 pm Post subject: Re: Bailout talks collapse |
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So far Asia is pretty flat, slightly trending downwards but not to an extend that would indicate a sell off...
Of course they didn't seem to have really rallied yesterday either, guess we'll know when Europe opens. |
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Roccland
Peak Oil Prophet
Joined: Jun 16, 2007
Posts: 1696
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| Posted: Thu Sep 25, 2008 11:08 pm Post subject: Re: Bailout talks collapse |
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| jboogy wrote: | | Rumours are not good in this kind of situation. If the talks collapse and nobody gets bailed it's game over. No crap you had better stock up on cash, food. This wamu thing is BAD! You might see a huge sell-off and wall st. shut down. |
cool i could use a three day weekend.
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500 MPH into a brick wall - me |
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ReverseEngineer
Light Sweet Crude
Joined: Jul 16, 2008
Posts: 1741
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| Posted: Thu Sep 25, 2008 11:27 pm Post subject: Re: Bailout talks collapse |
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| frankthetank wrote: | Hopefully some of these clowns actually have taken some heat from their constituents... I was about ready to make some signs and go protest in front of my Reps office today...
Talking to several different people today across the spectrum and EVERYONE IS AGAINST tHIS BAILOUT! Its crazy. No one that i have talked to agrees that this should go through. |
The PROBLEM all these Senators have right now is the MINUTE they show their faces in Public, they will be Lynched. Same with the Bankers of course. Have you seen the look of absolute TERROR on the faces of some of the Wall Street bankers? Seen John McCain's last video?
There is no REASON for anyone to drop an H-bomb on the US. We already are destroyed, and so is the rest of the world at the same time.
Now, for as long as any of last around here and the internet stays up, we can speculate on just how long it takes for enough methane to be released before somebody's Bic Lighter sets it off.
See you on the Other Side.
Reverse Engineer |
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jboogy
Light Sweet Crude
Joined: Jun 06, 2005
Posts: 1294
Location: the place where smartasses dwell
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| Posted: Thu Sep 25, 2008 11:35 pm Post subject: Re: Bailout talks collapse |
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This is scary... I'm actually thinking I might need to go and do some ,for real, crash prep tomorrow. If the banks seize what will the government do?
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It's the height of rudeness for the stretch polyester pants crowd to foist their tard version of Christ on talmudic scholars. But they don't get this, because they are, after all, extremely thick.----Threadbare |
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idiom
Intermediate Crude
Joined: Aug 23, 2004
Posts: 574
Location: New Zealand
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| Posted: Fri Sep 26, 2008 12:28 am Post subject: Re: Bailout talks collapse |
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Should have your preps done a long time ago if you are floating round this site.
But yeah time to top up the fresh food.
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Congress has found themselves in a bear trap. They will chew off three legs, and still be caught in it... |
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jbrovont
Intermediate Crude
Joined: Jun 16, 2006
Posts: 701
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| Posted: Fri Sep 26, 2008 12:50 am Post subject: Re: Bailout talks collapse |
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If it's in your hand, it's real. I'm not sure if WaMu cards will work or not. I have one - I'm tempted to try it lol!
But yeah, you want your assets in your personal posession.
Now...
Where's my money Paulson?
| Buggy wrote: | | Captain_Meh wrote: | | Snowrunner wrote: | | The markets shot up on the expectation that the package would go through, it didn't. So yeah, I guess we can assume that people will try to get out of them as quickly as possible. |
I wonder if the commercial paper markets are going to stall again tomorrow. I'm going to stock up on some food in the early morning... |
On a more serious note for me as well, when the market crashed in 29 there was no such thing as ATMs, debit and credit cards. I was wondering if I should go get some cash out? If the credit market completely locks up, will my cards be any good? I have almost no cash on me right now. |
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