Well......THE Bill just passed

[PurpleChicken]

Quote:
Wasn't that 152 million?
(Not trying to correct you as it's a valid point)
Don't forget about wooden arrows from Oregon.

I should download and read the bill but since I'm already fighting off the flu I think I will pass.

 

[mtnhomechick]

Quote:
Sorry, got that wrong. $It was 192.000,000.00 .

Oh..........2 million for wood arrows that are sold to children. ( ? )

On and On it goes.........

 

[mtnhomechick]

PC.........You're just too sharp for me.

I'm forgettin' my zero's.

Must be tired from debating such a good mind.

My bad....

 

[PurpleChicken]

Quote:
We were debating? I was just trying to reinforce your point.

I don't know about the good mind thing though. My brain looks like
an egg on an iron skillet.

I wanna go back to talkin about stocks. Maybe someday when we are both
more awake.

 

[mtnhomechick]

Hey, anytime. Been trading for a couple decades now.

Might know a bit of what I speak.


AND when I do that .....I BETTER have my zero's right, Huh?

 

[Acre of Blessings]

Yep, gotta make sure you got all the zero's in place before you head to Wallstreet.

 

[Featherland]

Hey, does anyone know if they can repeal the bailout bill? Maybe we should start a Repeal the Bailout Movement.

 

[Acre of Blessings]

Just found this on BreitBart.com. I highlighted a couple areas, but read it carefully and you will catch things as I have.....My opinion is in bold italics. I just had to add my 2 cents worth before they took that to.

It's wait and see after Bush signs rescue plan

Oct 4 11:15 AM US/Eastern
By JIM ABRAMS
Associated Press Writer Write a Comment


WASHINGTON (AP) - After two weeks of anguishing debate, Congress has passed and President Bush signed a massive plan to save the financial industry and the economy at large from an unthinkable free fall. Now, the world holds its breath, seeing if it will work.
Passage of the $700 billion financial rescue package came after Treasury Secretary Henry Paulson at a meeting last month shocked congressional leaders into action by warning of pending economic collapse without immediate congressional intervention.

Paulson said after the climactic House vote Friday that he already had staff working out details and was lining up advisers from outside the government to get the money flowing.

The immediate response to the 263-171 vote was not promising. Wall Street, which plunged a record 778 points after the House initially rejected the bill last Monday, fell 157 points on Friday as more economic bad news, such as a jump in job losses, outweighed news that Congress was finally coming to the rescue.

Bush was buoyed by the outcome but nevertheless spoke cautiously about the economy's future. "While these efforts will be effective, they will also take time to implement," Bush said in his weekly radio address Saturday. "My administration will move as quickly as possible, but the benefits of this package will not all be felt immediately. The federal government will undertake this rescue plan at a careful and deliberate pace to ensure that your tax dollars are spent wisely." Did he just say that "spent wisely" they just took food out of my family's mouth by doing this.

Bush acknowledged that Americans are anxious about their personal finances and said the new package would help. "I'm confident by getting our markets moving, we will help unleash the key to our continued economic success Economic Success? Then why not have the people that boought a $250,000 house on a $13.00 an hour salary pay it back, Imy husband shouldn't have to: the entrepreneurial spirit of the American people," he said.

"We know that if we do nothing this crisis is likely to worsen and this is my fault? My kids fault? My grandkids?and put us in a slump the likes of which most of us have never seen," said House Republican leader John Boehner, R-Ohio, who worked with House and Senate Republican and Democratic leaders in a rare bipartisan response to what both parties saw as a dire threat to the nation's economic well-being.

"We are addressing the real pain Don't ask me who I think the real pain is. felt by Mr. and Mrs. Jones on Main Street," House Speaker Nancy Pelosi, D-Calif., said. "They are why we must pass this legislation today."

The legislation gives the government broad authority to buy up toxic mortgage-related investments and other distressed assets from shaky financial institutions Then why let them be in business?. The hope is that it will restore confidence in markets and thaw a near-freeze in credit availability that has begun to affect the ability of community banks to loan, businesses to obtain money for payrolls Oh No, watch out! and investments and individuals from getting credit to buy a home or a car.

The measure, in another effort to help smaller banks with serious liquidity problems, also raised the ceiling on federally insured deposits from $100,000 to $250,000. It increases federal oversight over Wall Street transactions and assures that CEOs whose companies benefit from the bailout don't leave with huge golden parachute payoffs.

Rep. Barney Frank, D-Mass., the Financial Services Committee chairman and a key negotiator over the past weeks, said the measure was just the beginning of a much larger task Congress will tackle next year: overhauling housing policy and financial regulation in a legislative effort comparable to the New Deal.

The political story preceding the House vote Friday was nearly as dramatic as the financial and economic upheavals going on outside Washington.

Last Monday, despite urgent pleas from Bush and his senior financial advisers and the support of congressional leaders, the House voted 228-205 to reject the rescue plan. Stock markets around the world plunged, then recovered to some extent, as economists warned that not since the Great Depression had the United States faced such a crisis.

But the 95 Democrats and 133 Republicans who voted against the bill were responding to a deluge of calls and messages from their constituents demanding that they defeat what many saw as a $700 billion giveaway to Wall Street when average Americans were getting no help. Do I hear several Amens here

On Wednesday, the Senate, shortly before it recessed for the election, stepped in, voting 74-25 for a package that linked the rescue bill to a giant bill extending popular tax breaks such as the research-and-development tax credit, providing incentives for renewable energy resources and giving tax relief to disaster victims. That bill, costing an additional $110 billion, included a measure to give benefits parity to people with mental health problems. Must be for all those in the White House. The Senate also added the boost in the ceiling for bank deposits.

Those additions were enough to sway some House members who voted "no" the first time around. Others were swamped by calls from business and political leaders warning of the possible consequences of inaction.

"I've never talked to as many bank presidents in my life," said Rep. Joe Knollenberg, R-Mich., who said he had also been lobbied by General Motors CEO Rick Wagoner and other auto executives.

California Gov. Arnold Schwarzenegger sent out a letter warning that, absent a clear resolution to the financial crisis, California and other states "may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the federal Treasury for short-term financing."

The two presidential candidates also weighed in. Democrat Barack Obama spoke to many in the Congressional Black Caucus and helped persuade 13 to switch their votes. Nine freshmen Democrats also switched to "yes" votes after a conference call with Obama in which he promised an economic stimulus bill would be a top priority if he is elected.

Republican John McCain also lobbied for the measure, according to aides who declined to release a list of lawmakers he called.

"It's disgusting that we would ever be brought to this floor to cast this vote," said Rep. Zach Wamp of Tennessee, a Republican who changed to a "yes" vote. But "Congress has to act. We are out of options. Hold your hand over your heart and vote 'yes.'"

Not all were convinced. "The Treasury plan throws an ungodly amount at Wall Street wish they would throw some my way," said Rep. Marcy Kaptur, D-Ohio. "This is just an end run around, right before an election. Pray for our republic." This is definately not a surprise to me.

In the end, 33 Democrats and 25 Republicans switched from opposition to support. In all, 91 Republicans joined 172 Democrats to support the measure while 108 Republicans and 63 Democrats voted 'no." Looks to me like some one had some sence about them.___
The bill is H.R. 1424

 

[I have WHAT in my yard?]

Just got this is an e-newsletter from a local law firm Welsh, Seigal P.C.

Did anyone hear about this??

"Like Dorothy's dilemma, this crisis has no magic solution. This crisis has many causes and contributing factors. There is also plenty of blame to go around. Some of the villains are obvious, while others exist in shades of gray. In mid-June 2008, fund managers involved in mortgage securitization at Bear Sterns were arrested. Even as the Treasury Secretary touted the arrests, experts hit the airwaves debating if these managers should be considered criminally culpable. Other bad guys are small players and oftentimes have no assets for collection.

The FBI announced that it arrested over 400 people in dozens of locations since March, as a result of "Operation Malicious Mortgage." The FBI further reports it is working on over 1,300 fraud cases. In 2007, banks reported some 53,000 suspicious mortgage activities. That figure is approximately ten times the level of 2002."

 

[PineBurrowPeeps]

This whole thing just makes me want to

and

My family has been trying to get onto state assistance for over TWO MONTHS. If we don't get approved for Food Stamps this month we will be hungry. Thank the higher power the Food Bank has decided to help us some on Monday.
My house currently has not a darn drop of oil in the tank and it's getting cold, we can't afford to buy any until next month. Thank goodness we can burn some wood, but hey that's running low too and the price gouging on wood this season is making me physically ill.
My husband works two jobs plus helps here on the farm and has to spend over $20 PER DAY getting to work.
I have a job, plus primarily run the farm, raise and homeschool our 3 kids, etc.
I cry at night worrying what will happen to our family in the coming months. 8 months ago when we moved into our farm we could afford the payment. This is going to be a very hard winter indeed and we too have never had credit cards, or any personal loans, etc.
I'm so ashamed of this Country.
What to tell ones children?