Congress OKs historic bailout bill

[Cindy S.]

http://www.breitbart.com/article.php?id=D93J5NJO0&show_article=1

WASHINGTON (AP) - With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.

The final vote, 263-171 in the House, a comfortable margin that was 58 more votes than it garnered on Monday. The vote capped two weeks of tumult in Congress and on Wall Street, punctuated by daily warnings that the country confronted the gravest economic crisis since the Great Depression if lawmakers failed to act.

[Wileyzmuse]

Oh boy....:twitch

[WVBORN56]

My tax bill just increased by 10K per year! How exciting! The thought of bailiing out Wall street is tuff to swallow.

It looks as though California is next on the bail out list.

[Cindy S.]

What will happen when we try to collect social security........oh yeah, they spent all they had bailing out Wall Street.

It won't take much more to collapse the USA house of cards IMHO.

[MROD]

I heard a senator on a talk show say yesterday that this money, the 700 billion was going to be money that the Federal Reserve had right now on hand to distribute... I couldnt believe that the talk show host, who usually is pretty good at asking tough questions didnt call him out on this...!:doh

[penbrat]

What will happen when we try to collect social security........oh yeah, they spent all they had bailing out Wall Street.

It won't take much more to collapse the USA house of cards IMHO.

I'm 38 years old. I am under no delusion that there will be any type of social security by the time I retire (should the Lord tarry).

[InGrace]

Well, lets not forget about the sweetners it's really $800 billion :shocked

[carolina_guy]

What will happen when we try to collect social security........oh yeah, they spent all they had bailing out Wall Street.

It won't take much more to collapse the USA house of cards IMHO.

You were actually expecting SS? :aha SS is the biggest government scandal of all time--it's thievery at its best.

[aluminium]

I heard a senator on a talk show say yesterday that this money, the 700 billion was going to be money that the Federal Reserve had right now on hand to distribute... I couldnt believe that the talk show host, who usually is pretty good at asking tough questions didnt call him out on this...!:doh

Thats an outright lie!!!! This government has NO money.
The most secure jobs in the nation, are those who run the government printing presses.
The more they print, the less our dollars are worth. I expect inflation is going run rampant very soon!

[BornAgain123]

Wow-that was quick!:shocked

Bailout is law
President Bush signs historic $700 billion plan aimed at stemming credit crisis.

By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: October 3, 2008: 3:07 PM ET

NEW YORK (CNNMoney.com) -- After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.

"By coming together on this legislation, we have acted boldly to prevent the crisis on Wall Street from becoming a crisis in communities across our country," Bush said less than an hour after the House voted 263 to 171 to pass the bill.

The House vote followed a strong lobbying push by the White House and other supporters of the bill. The House rejected a similar measure on Monday - a defeat that shocked the markets and congressional leaders on both sides of the aisle.

http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100315