Interesting... I'm watching MSNBC and FOX, and neither of them have announced that it's passed. The amendment passed 74/25, but the actual bill hasn't passed. (Though everyone assumes it will)

Whoa. I was just in the car and they were saying they expected it to pass. I come home, grab a beer, and see they did it! Neat.

I've got a bad feeling about this.

This is really bad news.

Lead to the downfall of America, this will. Ahead, bad times are.

I think tomorrow the market will do much better. The other option, if it had failed, and we would have seen an even bigger dip than 778, taking many regular citizen's and senior's investments with it.

Not to mention credit! Car dealerships are nearly non-functional right now (dealerships can't buy cars, customers can't buy cars because credit is near frozen). I also heard that states are having a hard time functioning as well because THEY use credit to run. Think of how many layoffs that would cause in all types of businesses if credit would continue at this pace for 30 days (but it would most likely be even worse than it is now, because there was still hope this week something else would pass. -778 was the optimistic side of the bill failure.) It would be very bad.

I think this was the only move right now.

On CNN they were saying that even if the banks get the money, there is nothing in place to ensure they will start lending again and their fear is they might just hoard the money. They all agreed that they should put laws in place immediately to help the homeowners and put a stop to foreclosures.

The Senate did good work today I am very pleased, now if only we can implore the House to be so impressive in their bipartisanship.

As for Speaker Pelosi and her ridiculous partisan tirade on the House floor last week I only have two words, thank you. It was her unwillingness to temper her spite and scorn in the face of economic collapse for bipartisan support which caused the inferior bill to fail passage as the Republican leadership packed up their yes vote and said go to hell. Her charge and their rebuttal equals us a lot better off with this new bill. Now that doesn’t excuse her behavior but in light of the out come I’ll make an exception.

More importantly although we’ve once again come together as we do so well to unite our strengths and beat back adversity. It would be in our best interest to recognize this opportunity for collective growth and enlightenment so that the chance that this day will ever come again is made ever so smaller by a new found wisdom.

The removal of capital gains tax, the answer is. Create liquidity for the bank, this will.

Yes Yoda and this Bill is only the first step in a most careful financial choreography.

"Careful financial choreography"?!

I don't know if Pelosi's rant will actually be helpful. It did get us a better bill, but in the long run, her speech left a bad taste in republican's mouths. I have a feeling that we may get through this, but it won't unite us.

Correction: We Will get through this, but getting through it won't unite the country.

Exactly there's no room for mis-step now we've thrown our cushion out with the garbage.

It's not like Pelosi gave Republicans a yummy taste in their mouths before. She's a San Francisco Democrat!

"We Will get through this, but getting through it won't unite the country."

I agree. It would be nice, but there will be 2 different schools of thought as to who is to blame, and both sides will contain nuggets of truth that the other doesn't want to own up to.

But Master Yoda, how would getting rid of the capital gains tax increase bank liquidity?

Bought by investors, foreclosed homes will be...

Generate cashflow for the starved banking industry, this will.

In a way, I think the first vote was needed to fail in order for the public to understand what the consequence of no action would be. I am not saying it was intentional, but at the same time, I do think that if the bill would have passed right away, there would be more people questioning if it was necessary. If that had not happened, there would be even more citizens angry that it was passed.

Yeah the benefit of Pelosi's rant was purely coincidental and an unwitting act on her part. I'm just glad fate was on our side in that instance. She very ignorantly burned a few bridges I think but on the other hand the Republican leadership has also got to step up and let it be water under the bridge if they truly want to serve America.

Maybe, but don't you think it's going to be harder to agree to help her without thinking that on voting day she's going stand up and berate them?

"both sides will contain nuggets of truth that the other doesn't want to own up to"

Precisely! If this is what we can acknowledge to ourselves tucked away in little chat rooms across America where does the break down happen? How come that key piece of acknowledgement which would be so helpful in everyday life not to mention running the free world never makes it to mainstream application.

Well lets face it there were plenty of hot heads on Capital Hill this past week. It was her position and time of delivery that made her speech just a little more damaging.

I just read that Obama literally crossed the aisle to say hello and shake hands with McCain, who gave him a "go away" look and barely managed a "Good to see you."

http://blogs.cqpolitics.com/beyond/2008/10/obama-makes-mccain-very-uncom...

But he had a lovely, laughing chat with Clinton.

http://www.cbsnews.com/stories/2008/10/01/politics/politico/thecrypt/mai...

Very interesting True Song. I do believe Sen. McCain is feeling very irritable these days.

I would be, too, if I was probably gonna lose. You have to just feel weird about all the wasted money.

The dark side clouds everything Torg. Impossible to see the future is.

I know they've got to do something, obviously, but I don't like this bailout plan. I was so happy when the House didn't pass it. Not enough constraints written in against the problem causers, not enough written in to substantially help the people who are drowning in this and those about to go under.

Bailout is the worst word ever. Who started using it anyway? In the world of spin, why the heck was it used? talk about a word that already has negative connotations bring even more negative energy to something that is supposed to save the world? Ugh..I don't support this plan and i think it's too fast and too thin of a bandaid on a bigger problem that is being ignored or brushed aside during this "crisis."

Hey, how bout we pass a bill that bans Sarah Palin from participating in interviews?? Anyone?? Anyone??

Hypnoticmix, I'm baffled as to how you believe that Bush and Paulson are capable of fixing this.... when they aren't even acknowledging their role in the problem? I'm not trying to be mean, just to understand you:)

Someone somewhere likened this to an arsonist telling you he'll fix the fire he started if you give him more gasoline and matches.

I'm also confused by this notion that everyone up in Washington needs to work together, and do their job. What? What about the majority of Americans (if any number of the random online polls, plus anyone I've spoken to is an indication) who are sitting at home, glad that their Congressman listened to them? I'm proud of the way some members forgot about party bologna and listened to their constituents.

Lil - Ruck, why do you think Bush had a hand in this? Was he in charge of the oversight? Have you not seen the committee that was in charge dismiss Republicans who did voice concern?

I have a question, poll time!

What do you think it is more important for a Representative to do:
1.) Vote in their citizen's best interest.
2.) Vote the way their citizens want.

IMO, I get concerned when representatives vote solely based on citizen's opinions. This is a VERY complicated problem, and I do not think that the majority of Americans are in a position to understand it and make an informed decision as to how to help themselves. Yes, it is important to listen to your constituents, but I also think it is important to do what serves them the best, even if they don't understand it.

Definitely best interest! Agreed, some issues are really complicated and most people won't take the time to understand them fully.

I vote 1, with consideration for 2. The Representative is just that, a representative of the people who voted him in. With that, he better be more well-informed on the legislation he is voting on, so he needs to know if this bill is in his constituent's best interest. With that, the representative needs to communicate the reasons he votes one way or the other.

What Dave said.

I would have to answer just as Undave. And with this bail out deal, it just doesn't seem we are getting a straight answer. And I also don't think all those voting on it have a complete understanding of one, how we got into this mess in the first place, tow how best to get us out of it and most importantly how to make sure it doesn't happen again.

"Governments are instituted among Men, deriving their just powers from the consent of the governed" (Declaration of Independence)

If someone in Congress votes for what HE or SHE thinks is best, then it isn't exactly a government by the people and for the people, is it?

The great thing about our government is that the people are supposed to have a say... and if we say something, and the senator or congressman instead chooses what he thinks is best, where does that leave us?

A few years ago before I started educating myself I had this mentality that somehow the President and Congress had a clearer idea of what was going on, therefore probably knew better than I what was best. I could not have been more wrong.

Did anyone read the article on CNN by Glenn Beck today? I thought it was great.

"Hypnoticmix, I'm baffled as to how you believe that Bush and Paulson are capable of fixing this.... when they aren't even acknowledging their role in the problem? I'm not trying to be mean, just to understand you:)"

LMAO! What?!..........What?!

I never suggested any such thing honey.

I am sorry then hypnoticmix! I gathered since you said it was a careful financial choreography, you thought it was a well thought out plan that Paulson came up with.

What did you mean by careful financial choreography?

No worries. My statement there was simply a cautionary statement in regards to the steps we face ahead of us in dealing with this problem there fore this Bill is only the first step in what is to be a careful financial choreography.

IMO no one who voted for this Bill wanted to vote for this Bill but they were stuck between a rock and a hard place. No Dem. or Rep. wanted to come to Wall Streets rescue and if it were simply a matter of allowing Wall Street to fall on it's face learn a lesson and get up again I'm sure that's just what they would have done. However, they realize although begrudgingly so that a vast amount of necessities that we all rely upon are connected to the outcome of this problem whether we like it or not. It's easy to say well they're just bailing out the irresponsible bank lenders but on the other hand if they don't the chain reaction of a complete financial collapse will effect everyone.

I don't believe either that this is any one groups fault. I think in the fever pitch of all the finger pointing we soon forget that there are no clean hands in this situation. Like I said before whether it's the ignorance of the home owner, the irresponsible acts of the lender or the complacency of the government we all had a hand in the pot and we all should pitch in to help fix the problem. I'm no financial wizard in the least but that's just my two cents.

I agree with UnDave on Jill's question. The "elitest" attitude we've heard so much about this election comes from politicians who think they know what's best for me and everyone else.

Hey mondaymoos and UnDave I would agree with both of you and say yes if this country full funded education across the board and the drop out rate was not staggering. As Jillness pointed out a majority of Americans are not in a position to understand the issues as someone who studies them and more often than not will make reactionary/emotional decisions. That is a foundation that I am not comfortable with.

On the other hand career politicians need to be dealt with I think over time their attention to their constituents becomes replaced with presumptiveness and that's when they need to be rattled and told to snap out of it.

We do need to remember that we aren't a truly a democracy. We are a representative republic. When we first became a country, it was impossible to communicate in a timely manner with everyone throughout the country, and it didn't go past the Mississippi River. I would love to have a say in every matter that the government passes, but I don't. I elect an official to speak on my behalf. I hold him accountable for his votes, and make changes on elections if necessary.