After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened. Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.... » read more

Bailout passes Senate, House foes soften: Financial News - Yahoo! Finance

Question do you all think this is a good thing or a bad thing?

Well, it still has to go back to the House for vote (probably voting Friday morning)

Right now Asia's stocks are dropping after this was voted on.
Will have to wait and see what the Dow does tomorrow. Early indications that it will open "down"

I still do not think this is the right thing to do. It will not take care of the problems.

Something I thought was beyond disgusting, was how some of the bail-out supporters claimed that the people who opposed it just did so because they were worried about being re-elected... as if they supported it for some higher principles. :vomit:

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Well something has to be done. This bill won't solve a lot of the problems but it is a very good start. This country is dependent on credit. Right now small businesses cannot make payroll, cannot get the goods they need to service us, etc. Nobody can get loans to buy autos so the auto industry is laying off people. The list goes on and on. I support this bill - even though it is certainly not perfect. This is not a bill just for Wall Street.

Sad day for America, I hope the House votes against it.
Just some of the things added to the bill....WTH!!!!!!!!!!!!!

* Manufacturers of kids' wooden arrows - $6 million.

* Puerto Rican and Virgin Is- lands rum producers - $192 million.

* Wool research.

* Auto-racing tracks - $128 million.

* Corporations operating in American Samoa - $33 million.

* Small- to medium-budget film and television productions - $10 million.

With all those earmarks are in there Mr. Anti Earmark McCain still voted for it? Shame on you McCain for misrepresenting yourself to the American people. Oh well, you will be ancient (no pun intended) history after November.

Can't wait to find out who asked for those earmarks. . . .

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

I am sure you will get in your little corner and dig it out.

Obama & Biden voted for it also.

__________________
Mary

True but they don't make a big deal of being ANTI-EARMARK like McCain does. He talks the talk but doesn't walk the walk.

I checked around a little and saw that the earmarks added were coming up for renewal and would have happened anyway. Just a matter of when. They maybe should be looked at and possibly not renewed but until I have time (unlikely) to check it all out myself, I don't understand why these were even brought up without some sort of valid link explaining what each one is about and why they are even there to begin with.

I have the answer to the wooden arrows earmark. This was originally requested by democratic Senator Ron Wyden of Oregon. But Senator Wyden voted against the bailout. Our republican Senator, Gordon Smith, voted for the bailout. Senator Wyden is not up for election this year, Senator Smith is and his polls are not good.

I'm not clear on how or why specific earmarks are attached to legislation but I gather from the news blurb I heard, the arrow earmark had been requested some time ago. Senator Wyden has expressed his surprise that it ended up on the bailout legislation. Nor can I see how adding it to the bailout legislation would benefit Senator Smith. Very interesting.

__________________
Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

That's pretty weird. I wonder who is responsible for attaching it to the bailout?

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Of course they don't make a big deal about being anti-earmark. . . that would come back to bite them in their porky a*ses.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

What the Senate done was to "attach" the bailout plan to an already passed bill from the House.
It is a "sneaky back door approach" that is used sometimes. Then the House gets to amend the bill (if they want) and vote on it.
Some of these earmarks (pork) was already on the bill before the Senate amendment it to add the bailout package on it.
True, some other earmarks were added on also with the bailout part.

LOL! McCain is anti-earmark because he has NEVER asked for earmarks. Obama and Biden can't make a big deal of being anti-earmark because they're both up to their ears in earmarks! What are you talking about when you say that McCain talks the talk but doesn't walk the walk? Can you NAME an earmark of his? No you cannot because he has never asked for any.

A lot of information is now starting to be brought out to the public.

YouTube - WHO BELIEVES GEORGE BUSH!!! Rep DeFazio

Rep DeFazio (D - OR).

Here ya go:

__________________
Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

Interesting what some Representatives have said.

YouTube - Rep. Brad Sherman Martial Law

Anyway, the House might vote today on the bailout package.