An Economic Bailout Plan Has Been Passed
By a vote of 263-171, the House of Representatives finally passed the bailout bill Friday, sending it to President Bush’s desk for his signature. Many important details of the program–including which banks will be the first to sell their troubled assets to Uncle Sam–are still unknown. Meanwhile, the economy is still stumbling along. U.S. The Labor Department reported Friday that 159,000 jobs were lost in September, the biggest drop since 2003
More Details On The Bailout Plan: Forbes
10 Comments so far
thank you God. Finally some sense of security and confidence. That shit is really effecting web sales, as well as many other sectors across the country.
SMHHH @ all them clowns who Voted NAY on tha bill. Fucking idiots. I guess all that needs to happen is for tha DOW to plunge another 1,000 points and then maybe they could acknowledge tha fact that something is wrong…
though necessary, the fact is we will paying for the screw ups in wall street for years to come…..by the way, pathetic how many comments are left on serious posts….who the fuck cares what Jim Jones thinks about JAYZ?…..my investment money is lookin horrible……better luck flippin it on the block
ayy.. I dont like it either but something needed to be done because if they would have denied it a second time it would have sent tha markets into a huge down turn. Which in result of that happenning you would see many small businesses not be able to get loans or kids not be able to get school loans…Also as funny as this sounds.. people are very sensitive to what goes on to their finances. So if they hear that investors are selling all their stocks (buying gold/silver instead) and in panic mode, 10 outta 10 you will see the same action from the everyday consumer/business person.
Also.. i agree with you on serious posts… I havent seen any hiphop blog talk about this…
They just didnt understand the magnitude of this bill. It would have been catastrophic for them not to Pass it a 2nd time after tha Senate made their revisions.
finally, the republicans should not have passed on it in the first place…
…this effects the rest of the world because if america goes down so does everyone else, well apart from Asia as a whole because of China…
…but finally hopefully things will get better for the rest of us as a whole
Umm this bill was trash and shouldnt have passed. People shouldnt comment on passing it or not passing it unless you read it. It is available online to the public. But its a shame that Obama is as far as niggas go regarding politics and the economy.
The bill being passed doesnt mean shit. How they allocate the funds does…So, we shall see what happens from here. Just a big ploy to get Bush and his millionaire republican friends out of debt.
Side bar: If you have any extra funds lying around hurry up and invest. Wachovia has went up 59% in stock earnings within the last 24 hours. Owwwww!
The only thing this bill does is spread the pain, which is coming regardless of whether or not that bill was passed. Unless u r retiring in the next few yrs, who gives a sh1t if their 401k goes down in the short term? You won’t be seeing that money for 20 to 40 YEARS! This will be a blip on the screen by then. Y’all let the media trick you into thinking this is for your own good.
The pain is STILL coming. The difference is that now we’ll feel it MORE than wall street because they’re passing their headache on to the rest of us.
we lucky that people are smart enough these days aswell because when this situation first came across this is the same ish that caused world war 2 so i guess in a way we are lucky…
its a big as plot!!! the reason the stocks are gettin hit is cause its a great stick up! only the people who put all their savings in stocks for retirement will be hurt along with the reest of us middle lower class folks! If you don’t have over a bill (after the stocks crashed) you may be in deep sh!t sherlock…
This is all b.s.. though but it should be discussed… I guess we gotta get jigga to talk about depressin sh!t… like the recession or else nigs won’t care… smh!
THIS IS HIP-HOP???? NO THIS IS RAP!!!
its a big as plot… the reason the stocks are gettin hit is cause its a great stick up! only the people who put all their savings in stocks for retirement will be hurt along with the reest of us middle lower class folks! If you don’t have over a bill (after the stocks crashed) you may be in deep sh!t sherlock…
This is all b.s.. though but it should be discussed… I guess we gotta get jigga to talk about depressin sh!t… like the recession or else nigs won’t care… smh!
THIS IS HIP-HOP???? NO THIS IS RAP!!!