Bailout Plan is Going to Fail to Pass

[minionofmidas]

DE: 1-0.
MD: 5-3. Blacks, Hillbilly against.
VA: 5-6. Three Beltway Representatives, Cantor, Boucher (!?) for.
WV: 2-1. Partisan lines.
NC: 4-9. All Republicans opposed, as also Butterfield, McIntyre, Shuler.
SC: 5-1. The Rentier/Slaveholder state likes being bailed out with other people's money. j/k Gresham Barrett opposed.
GA: 2-11. If South Carolina likes it, it can't be good. Marshall, Bishop in favor.
FL: 12-13. Witness the effects of gerrymandering btw - all Florida Dems in favor (as you would expect, this being Florida), as well as a couple of Reps: Putnam (had to), Crenshaw, Weldon.

[jokerman]

Angus, you're out of your element here.  Yes, we do have "ups and downs," but you (and me and anyone else who didn't live during the Great Depression) have no idea how vicious a real business cycle can be.  To ask everyone else to weather through it is simply naive.

[MODU]

I dread to look at my retirement account.  I have lost about three thousand dollars per quarter over the past several quarters, and that even counts the 1500 I put into it each month.  So basically I'm at a net loss for at least six months now.  But I have purposefully invested more aggressively.  My wife invests much, much more conservatively in her 403B plan, by mutual agreement.  

Just to make you feel better, I'm down about $40K this year.

[minionofmidas]

KY 1-5. Ron Lewis is retiring, and acts according.
TN 4-5. Partisan lines except for Lincoln Davis.
AL 6-1. Okay, this SC-GA-Al pattern absolutely defies explanation. Bob Aderholt against.
MS 1-3. Along partisan lines, except for Childers and Thompson. And Pickering. Oh, and Taylor. Which is actually still along partisan lines.
AR 4-0. Hillary made them do it?
LA 2-5. Democrats, Republicans opposed, Lobbyists (McCrery, Melancon) in favor.
OK 2-3. Boren, Cole in favor.

[NOVA Green]

KY 1-5. Ron Lewis is retiring, and acts according.
TN 4-5. Partisan lines except for Lincoln Davis.
AL 6-1. Okay, this SC-GA-Al pattern absolutely defies explanation. Bob Aderholt against.
MS 1-3. Along partisan lines, except for Childers and Thompson. And Pickering. Oh, and Taylor. Which is actually still along partisan lines.
AR 4-0. Hillary made them do it?
LA 2-5. Democrats, Republicans opposed, Lobbyists (McCrery, Melancon) in favor.
OK 2-3. Boren, Cole in favor.

Thanks for posting this analysis BTW! It's a dirty job, but someone has to do it!!!

[Lief 🗽]

So, I wonder what the leadership will do now. I figure they can either tack hard-right and get rid of all the regulations and just pass the $700 billion or go hard left and add in enough extra stuff to bring in the progressives.

[minionofmidas]

So, I wonder what the leadership will do now. I figure they can either tack hard-right and get rid of all the regulations and just pass the $700 billion or go hard left and add in enough extra stuff to bring in the progressives.

Yeah. Sadly, I know which side seems to have more votes.

[I spent the winter writing songs about getting better]

So, I wonder what the leadership will do now. I figure they can either tack hard-right and get rid of all the regulations and just pass the $700 billion or go hard left and add in enough extra stuff to bring in the progressives.

Yeah. Sadly, I know which side seems to have more votes.

But which are more swayable? Most of the hard righters are opposed to the bill in theory. I mean, is there any way possible to get Ron Paul to vote for this?

[© tweed]

I wonder how often Stark votes with Sali but against McDermott.

[Torie]

I was down about ten percent overall, but have mostly recovered.  Well, that's my little stock market fun money.  I'm a small player on the open market, though.

I dread to look at my retirement account.  I have lost about three thousand dollars per quarter over the past several quarters, and that even counts the 1500 I put into it each month.  So basically I'm at a net loss for at least six months now.  But I have purposefully invested more aggressively.  My wife invests much, much more conservatively in her 403B plan, by mutual agreement.  

I have no idea what happened to mine today, because I didn't look, but I'd rather lose every single penny I have in it and have to start all over than see even one taxpayer dollar go to the banks in this manner.  And I expressed it in exactly those words in an email to Bruce Braley.  Apparently I wasn't the only one in my district who did so, thankfully.  Every vote counts.  Stay on your elected officials about this, because the house and senate might not let it go at one defeat.  They love to spend your money.

And as jmfcst said, it's really best not to panic.  Let this recession run its course.  We have ups and downs.  And, really, you still have your health and your smarts.  Money is a fleeting thing, after all, and it grows on trees anyway, so it's probably best not to give yourself a heart attack worrying about the stock market.

The sad thing is to watch the mounting losses in my high credit quality short term corporate bond fund, which is the largest holding by far in my retirement account. I bet it dropped another couple of percent today (it's just not so high credit quality anymore - heck it lent some money to Lehman Brothers and WAMU and Wachovia - ouch!)

[NOVA Green]

So, I wonder what the leadership will do now. I figure they can either tack hard-right and get rid of all the regulations and just pass the $700 billion or go hard left and add in enough extra stuff to bring in the progressives.

Yeah. Sadly, I know which side seems to have more votes.

I think it's going to take quite a bit for the progressive Dems to want to take the hit on a fairly unpopular bill.

Granted, I think public opinion may well swing behind a compromise after today.

[minionofmidas]

TX: 9-23. Majorities against in both parties. Hinojosa, Reyes, Gonzalez, Edwards, Eddie Bernice Johnson; Kevin Brady, Granger, Lamar Smith, Sessions for.
MT: 0-1.
ID: 1-1. Simpson for.
WY: 1-0. No matter how right wing Cubin might be, she is retiring. And that's an overriding concern.
CO: 3-4. In favor: DeGette, Perlmutter, Tancredo. Laughing my ass off.
NM: 1-2. Those still running for Senate are against. The one looking for a private sector job is for.
AZ: 0-8. John McCain, I'm looking at you. What did you do to your House delegation to make them hate you so? (But kudos to Rick Renzi - that was unexpected!)
UT: 0-3.
NV: 1-2. Porter for, Berkley and Heller against.

[Lunar]

R.I.P. economy.  Congress failed us in the most epic way.  Saving their own electoral hides at the expense of us all.

[Fmr. Pres. Duke]

R.I.P. economy.  Congress failed us in the most epic way.  Saving their own electoral hides at the expense of us all.

Absolutely. It's really sickening. Now not only will Wall Street be hurting, but Main Street as well.

[Brittain33]

The Republican Study Committee couldn't be reached for comment.

[I spent the winter writing songs about getting better]

I wonder how often Stark votes with Sali but against McDermott.

Remember that amendment posted awhile back to withdraw from the WTO? Of course Sali wasn't in Congress then but we know what would've happened.

[Swing low, sweet chariot. Comin' for to carry me home.]

TX: 9-23. Majorities against in both parties. Hinojosa, Reyes, Gonzalez, Edwards, Eddie Bernice Johnson; Kevin Brady, Granger, Lamar Smith, Sessions for.

Brady is my congressman

[Sam Spade]

One nice thing is that oil prices are simply collapsing.  All metals/commodities are getting beaten badly except for gold (obviously).  That's a recession fear.

Dollar is actually faring ok - up slightly.

I actually think this drop might have happened anyway - to that point I agree with jmfcst.

[Torie]

R.I.P. economy.  Congress failed us in the most epic way.  Saving their own electoral hides at the expense of us all.

I am not persuaded this bailout would have made much difference. It was only going to be spent at 50 billion a month, and if there are no real subsidies (they seem to have been cut back under pressure), the feds can provide liquidity other ways, and are - to the tune of 350 billion today.

[I spent the winter writing songs about getting better]

CO: 3-4. In favor: DeGette, Perlmutter, Tancredo. Laughing my ass off.

Me too. That's just amazing. LOL.

AZ: 0-8. John McCain, I'm looking at you. What did you do to your House delegation to make them hate you so? (But kudos to Rick Renzi - that was unexpected!)

Oh God. Talk about adding insult to injury.

[Lunar]

R.I.P. economy.  Congress failed us in the most epic way.  Saving their own electoral hides at the expense of us all.

I am not persuaded this bailout would have made much difference. It was only going to be spent at 50 billion a month, and if there are no real subsidies (they seem to have been cut back under pressure), the feds can provide liquidity other ways, and are - to the tune of 350 billion today.

The mere fact that Congress was taking a quick, action, no matter what that action is, would be of enormous help to investor confidence.

[Fmr. Pres. Duke]

R.I.P. economy.  Congress failed us in the most epic way.  Saving their own electoral hides at the expense of us all.

I am not persuaded this bailout would have made much difference. It was only going to be spent at 50 billion a month, and if there are no real subsidies (they seem to have been cut back under pressure), the feds can provide liquidity other ways, and are - to the tune of 350 billion today.

It was mostly about the psychological effect. If Congress had acted, even if in theory it may not have made a huge difference, investors wouldn't have freaked like they are going to now.

[minionofmidas]

WA: 5-4. Party lines, except for Jay Inslee.
OR: 2-3. And if Darlene Hooley had gotten the memo, Oregon would be another Mississippi.
CA:  30-23. This one's really interesting, and for once a reasonably obvious center vs fringe split. Thompson, Woolsey, Lee, Stark, Sherman, Schiff, Becerra, Solis, Watson, Roybal Allard, Napolitano, Baca, the Sanchez sisters against. Herger, Lungren, Radanovich, McKeon, Dreier, Jerry Lewis, Gary Miller, Calvert, Bono, John Campbell for. (Doolittle joins Renzi in E-CRAB - Ethically Challenged Retirees Against the Bailout.)
AK 0-1.
HI 0-2. Yeah, both against.

[Lief 🗽]

Yes, let's write a trillion dollar corporate welfare check so that the investors feel good for a day!

Very glad to hear that a majority of Texas Democrats and Republicans voted again.

[PGSable]

Red: yes
Gray: tie
Blue: no