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Senate bailout PASSES

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brian0918

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I propose we all fly our flags upside down, and if you don't have a flag, go out and get one and fly it upside down. (That's a sign of distress in case ya don't know.) :dough:

EDIT: "I'm as mad as hell and I'm not gonna take this anymore!"

Just seems so appropriate now. Edited by K-Mac
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Goddamnit. This is just depressing.

I was wrong. McDermott (D-WA) switched to No. He's the only one, though. So much for all those "Blue Dog" Democrats. Either he's the only one, or the rest are consistently applying their lack of principles.

Edited by brian0918
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As long as we're still allowed to actually speak out about it, I think she would say this is an excellent opportunity to educate people on why this wasn't a case of deregulation gone bad, but a failure of the mixed economy stemming back all the way to the creation of the Fed in the first place.

Just guessing...

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Damn, this is depressing. It's awful hearing what people in my classes are saying. One guy kept arguing for it because stockholders deserve a profit. Both my senators voted for the bill, but my representative stayed against it, for the basically the right reasons.

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The only two Professors I have that have said anything about it, are positively livid. My Econ professor discusses it everyday (fun fact, my micro-economics text-book was written by Bernanke and it is completely against government regulation) and my Political Science professor went on a thirty minute rant when it was passed.

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  • 1 month later...
Now they want to expand the bailout to the automakers

http://www.cbsnews.com/stories/2008/11/08/...in4585951.shtml

What's an extra $50 billion between friends anyway?

The problem with this is not cost per say. For the market economy to function well, it needs to be a profit system and a profit-and-loss system, with the losses being the penalty for bad decisions.

Edited by ~Sophia~
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The problem with this is not cost per say. For the market economy to function well, it needs to be a profit system and a profit-and-loss system, with the losses being the penalty for bad decisions.

I apologize if I didn't make it clear- I meant that statement to be very facetious. I'm emphasizing the point that the government said $700 billion (an arbitrary number) and now they say "let's just throw in $50 billion more for automakers." There seems to be no end in sight for the Emergency Economic Insanity Bill of 2008 :o

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