People might save more money in thrifts and hometown banks if the government would just give every American a $1,000 tax break on the interest. Why are people taxed on the interest of their savings? The rates are so measly anyway. If folks could just take the first thousand of interest paid on a savings account and not have to pay taxes on it, people just MIGHT start saving again.

It's is a good thing we have life boats. Oops, not enough boats - we will have to leave the Captain and crew in the icy cold water. Do you thing that junior Officer, Obama, can stear a life boat. .....
http://thefiresidepost.com/2008/09/30/the-titanic-usa-is-sinking-passengers-are-in-life-boats/

That was the problem joel,people were to stupid,and now they want to say "wait the goverment is suppose to protect me from myself".Thats why so many are willing to vote for Obama he will protect me.Please

E-mail all the media outlets and let them know you're not going to take their lies anymore.

Most of the DEMS who had top cabinet positions were told they didn't have to vote yes for the bill.

Not one person should lose one dime in any bank or thrift or credit union -- even if they have a million dollars in it. Many people have their retirement savings in a savings and loan. 250,000 is still waaaaay too low. Each depositor should be able to have EACH account insured for a high amount, not just the total number of accounts. No wonder people are worried.

Bush's crew helped tip this mess. But the Brokers and changes in the market and how they were able to do biss is what has got us here. Untill the address the morgatge issue and drop the rates on the loans so people will continue makeing payments. This will never end.

The only reason this bill has failed is because the Dems want 20% of this money to guarantee the low incomes loans the Dems secured thru all the inside deals they made with Fannie Mae and Freddie Mac thru there buddies. Were asking the same people that created this mess to now clean it up, the Democrats. They blocked Bushes regulation bill in 2003 to tighten up on credit lenders and now you have people getting loans that didn’t even have a job. Way to go Dems! Crash the lending industry and now blame the Republicans. It’s the only way you do things. Watch your 401k sink to nothing.
You think I’m voting for a Democrat?

Posted by: angie
I think some people should lay off fox news they are lying and twisting peoples mind!

NO ANGIE - THEY ARE THE ONLY ONES GIVING YOU BOTH SIDES. LEFT AND RIGHT OF THE ISSUES.

Suspension of the mark to market does NOT need congressional vote.
That is already a power of SEC.
SEC Cox should get on the ball and do that TODAY.

Mp... are you serious? HA HA HA You are a bigot, and a hypocrit. Obama isn't an Arabic Muslim. Sarah Palin doesn't only lack morals, she lacks common sense and No... being the Mayor of a town of 9000 and then the Governor of our least populated state doesn't qualify her. So I guess I am a little fuzzy...
I'm a little confused. Let me see if I have this straight.....(hope I'm not offending anyone)

* If you grow up in Hawaii, raised by your grandparents, you're "exotic, different."

* Grow up in Alaska eating moose burgers, a quintessential American story.

* If your name is Barack you're a radical, unpatriotic Muslim.

* Name your kids Willow, Trig and Track, you're a maverick.

* Graduate from Harvard law School and you are unstable.

* Attend five different small colleges before graduating, you're well grounded.

* If you spend three years as a brilliant community organizer, become the first black editor of the Harvard Law Review, create a voter registration drive that registers 150,000 new voters, spend twelve years as a constitutional Law professor, spend eight years as a state senator representing a district with over 750,000 people, become chairman of the state senate's Health and Human Services committee, spend four years in the United States Senate representing a state of 13 million people while sponsoring 131 bills and serving on the Foreign Affairs, Environment and Public Works and Veteran's Affairs committees, you don't have any real leadership experience.

* If your total resume is: local weather girl, four years on the city council and six years as the mayor of a town with less than 7,000 people, twenty months as the governor of a state with only 650,000 people, then you're qualified to become the country's second highest ranking executive.

* If you have been married to the same woman for nineteen years while raising two beautiful daughters, all within Protestant churches, you're not a real Christian.

* If you cheated on your first wife with a rich heiress, and left your disfigured wife and married the heiress the next month, you're a Christian.

If you teach responsible, age appropriate sex education, including the proper use of birth control, you are eroding the fiber of society.

* If , while governor, you staunchly advocate abstinence only, with no other option in sex education in your state's school system while your unwed teen daughter ends up pregnant , you're very responsible.

* If your wife is a Harvard graduate lawyer who gave up a position in a prestigious law firm to work for the betterment of her inner city community, then gave that up to raise a family, your family's values don't represent America's.

* If you're husband is nicknamed "First Dude", with at least one DWI conviction and no college education, who didn't register to vote until age 25 and once was a member of a group that advocated the secession of Alaska from the USA, your family is extremely admirable.

OK, much clearer now.

This is an excellent post , I'm grateful to you , thanks a lot .

According to Reuters and NPR, the Asian markets have stablized and are rebounding and the European markets have stablized and are starting to rebound (look at France). Russian market drop was due to drop in the price of oil not US problem. The sky is not falling. NO BAILOUT, NO FAST TRACK VOTE. This is just a big market correction.

What part of the root of this problem (the bad mortgage loans) do the congress have a hard time wrappin their minds around? To me, the bailout, without consideration for Main Street and the root problem is like trying to build a home on quicksand. Remove the quicksand, replace it with some sort of solid foundation, then rebuild. Idiots!

I would like to learn more about Obama's role as a community organizer with ACORN, an organization that pressured banks to give high risk loans to low income applicants.

This bill should have failed, needed to be slapped down and congress was right to do so....

If this had ever been about buying up foreclosed homes I would have been first to shout hooray! let the gov do just that and stick all those displaced people from the hurricanes in them...

but this was never about foreclosed homes. They wanted to buy "Bad Debt"....

just what was that bad debt? CDO's FASB 157, Mark to Market, unsecured loans these big banks routinely make to each other. promissory notes nothing more, all of it totally worthless with no hope of ever repaying. this bill should have been ripped up and tossed in a fire! ...

If this bill had passed who would run this massive program? who would oversee manage administer to make it fair and equal? "OUT SOURCED" they said. they were going to give this money to the very same people who caused the problems and put them in charge of who gets a share... Ludicrous madness, toilet paper has more value than this bill! ...

To be sure there are many valid reasons this bill needed to be killed and made to stay dead...

but putting all that aside what has America in an uproar is simple classicism...

They were asking we little guys, ma and paw, normal red blooded American to pick up the tab for the top 3% income earners...they asked we little guys to dig into our pockets cut back on good programs like schools, hospitals, feeding the shut in and elderly, cut back on road projects and even our own pocket money in the form of a higher tax burden and for what??? So some CEO making $179,000 per hour can go back to business as usual?... I think not!...

My own congresswoman Heather Wilson voted "yea" for this bill. she should be brought to task for her answer right now! Vote of Non Confidence, censured, Made to sit in her office and do nothing but doddle until a replacement can be found!...
Normally I do not favor the will of the people, the common man has little real understanding of the complexities. However in this case the voice of the people was correct, we all knew this wasn't right, Instinct screamed something shady was going on. Heather's yea vote proved she never asked questions never did her homework and once again showed her total contempt for her constituents! she has failed in her duty to protect the interests of those who put her in office. A clear case of misfeasance and she should be fired for it! Along with the other 204 people who voted yea...

Bush has just finished on the TV and for the first time in eight years he wasn't smirking!
I've opened champagne to celebrate!
Thankyou American voters!
You're exercising real democratic control of politicians for the first time in 220 years!
After 4 November they'll never let you have control again!
Go for it!
Have another Revolution!
Now is the hour !!!!!!

Mookie: YOU ARE MY HERO! Amen to your post. Could not have put it out there any better if I were God.

The "bailout bill" failed because a perfect storm conspired against it. The House, which is supposed to represent the people, heard an overwhelming chorus of "no" from their constituents. The people, in turn, are simply not convinced that the 700 billion dollars would go to anyone except zillionaire bankers and other plutocrats. That's how "trickle-down" economics has worked so far (nothing actually trickles down), and Americans don't trust it anymore. As for the credit crunch? Our credit cards still work, banks are still urging us to bring us their mortgage business, car dealers are advertising "no credit? no problem!" And the President is not helping his own cause. After 7-1/2 years of misleading the public (remember Karen Hughes, who said "We don't lie; we take it right up to the edge"), people assume that Mr. Bush is trying to mislead them one more time to the benefit of the wealthy. He would be wise to stay on the sidelines.

Anyone refusing to show up in congress today to resolve this urgent problem should be forever branded as unamerican.

Here's what I don't get:

1) Bush didn't warn anybody this was coming.

2) He has no clear and decisive plan to remedy the situation.

3) He somehow arrives at this 700B figure as the "remedy."

4)He can't say how we got to this point, can't say how we'll recover, but he sure can say that if we don't cough up the 700B, "the damage will be painful and lasting."

How come he only "knows" the bad parts?