Bailout Bill Fails

[ecojeanne]

this will hugely affect the whole world. If the banks don't get bailed out in some way or other, the banks here in Ireland will fold, so we have been watching it with fear. many people here are freaking out. Big money on deposit is not protected. If the US go into a big slump then the rest of the world will too. Everyone is terrified

[Junket]

this will hugely affect the whole world. If the banks don't get bailed out in some way or other, the banks here in Ireland will fold, so we have been watching it with fear. many people here are freaking out. Big money on deposit is not protected. If the US go into a big slump then the rest of the world will too. Everyone is terrified

Hope you got a gun.

[starbuck]

this will hugely affect the whole world. If the banks don't get bailed out in some way or other, the banks here in Ireland will fold, so we have been watching it with fear. many people here are freaking out. Big money on deposit is not protected. If the US go into a big slump then the rest of the world will too. Everyone is terrified

Eco, if this turns into another U.S. versus the world thread, I will delete it. I didn't start this thread to have this kind of debate quite honestly. I started it to try and get some discussions going on where the U.S. is going to go from here economically.

You folks in Europe have your own financial failures to worry about. [url]http://www.time.com/time/business/article/0,8599,1845471,00.html[/url]

The world economy is in a slump. Don't derail this thread by starting this shit.

[ecojeanne]

starbuck i was just contributing with whats happening over here and that what's happening in the US is affecting us too, so we basically feel your pain, that is all

[starbuck]

starbuck i was just contributing with whats happening over here and that what's happening in the US is affecting us too, so we basically feel your pain, that is all

Ok, if you say so. Your track record isn't very good on America-bashing. So, I'm sorry if I overreacted.

[bluesummer]

I don't think it's a case of the US vs. the world, but the reality is, that the failure of US Banks will have a huge impact on the rest of the world.

I live in Canada, my best friend and my fiance are both bankers, and they tell me stories about their clients freaking out over this whole thing all the time. Bank stocks in Canada have been taking a hit, too, although not nearly as much. One of our big five banks is headed into trouble over this whole fiasco.....I think they had huge amounts of money invested in mortgages or something down there. So yeah, it's scary for us, too. We were really hoping for this bailout, because my fiance and I had our eyes on some stock that had bottomed out, but had the potential to rebound exponentially after the anticipated bailout. Now we just have to wait and see.

[Gribble]

Was that a Metal Gear reference?

You got it backwards.

Solid Snake is an Escape From LA reference.

[starbuck]

I don't disagree Blue. I just didn't want to see this thread going in the direction of many threads in the past where the whole discussion crumbles into "I hate America" rants. It's not productive IMO.

[ecojeanne]

ok starbuck, i bash american structure at times, so yes i can understand, but in fairness i wouldn't want people left destitute, why would anyone want that. i have close friends in the states that will likely be affected, and everyone in Ireland will be affected. anyway we're all worried

[bluesummer]

Meh, I have no issue w/the US.

The good thing that came out of this, for us, is that the Canadian gov't took a look at what was going on w/the mortgages down there and changed the rules for lending policies. They abolished zero down payment mortgages and 40 year amortization periods. That way, any old Joe Blow can't buy a house anymore. Thank freakin' god.

[DoesntMatter]

I shudder to think what the aftermath of that could look lie.

I know, the short term is shitty enough, the Dow is down 7% and NASDAQ 9%

[misombra]

that's what happens when people get greedy.

[DoesntMatter]

This is what happens when our country shifts to a service sector economy. I HATE that. Our country should revert back to being more industrous and generating wealth with non service sector economy jobs

[Junket]

This is what happens when our country shifts to a service sector economy. I HATE that. Our country should revert back to being more industrous and generating wealth with non service sector economy jobs

Man, I'm on the front lines of that fight.

[1averagejoe]

Yeah, I wish I had more money to put in the stock market today

Today? It's still going down...lol. I'm glad I sold my shares last semester, woot 400% profit! Glad I bought FedEx before buying stuff on the internet was a normal everyday task. Even though it went towards tuition.

I'm waiting for the housing market to hit rock bottom...I'm already starting to save. I want to buy a condo asap, but California living is ridiculously expensive.