FAILOUT!

(Sung to the tune “wipe-out”) HAHAHAHAHAHAHAHA! FAILOUT! No bailout for America. In a move that seemed more trying to save their skins instead of America, the house voted down the $700,000,000,000 bailout resolution. 95 Democrats Voted No. 133 Republicans voted no. I find this absolutely stunning, i’ll get into that in a minute. But what’s more stunning is the simple fact that in response, the Markets lost more than the proposed bailout was for in total. $1,000,000,000,000 lost in one day, 777 points. LET THE FINGERPOINTING BEGIN!

….predictably the republicans blamed the democrats and the democrats blamed the republicans. In a press conference after the vote failed, Nancy Pelosi was blamed for giving a partisan speech just before the vote. This seems a bit of legerdemain, seeing as how there isn’t a day that goes by that there isn’t a partisan speech on the floor of the house before voting. Here is a case where the every Republican who buys into this stupidity gets saddled with the nickname I’ve given to John Boehner. I call him “The Complainer”, because he’s always botching about something, a whiny little thing, he is. Complainers all. The best part about this is that Boehner spoke out at the press conference afterwards blaming democrats and speaking against the bill, even though he voted for passage of the bill!

Oh and to BLAME Nancy Pelosi for this is something that I think works in her favor, because NO ONE in America really wants this damned thing, and If that speech made it possible, it may just bolster the public’s viewpoint of the congresswoman in some people’s eyes, in a backwards and roundabout way.

For your Viewing pleasure, the final vote results for HR. 674 AKA. The Bailout

The Democrats were no less blame filled, casting partisan aspersions at the republicans for not holding up their end of the bargain. The Democrats say they were planning on delivering at least 130 vote on the floor and asked the Republicans to deliver the rest, to make it a truly Bipartisan bill. The dems in fact delivered 140, but, as previously noted, the Republicans only put up 65. The Republicans were chided for not ponying up and putting their fair share.

To be honest there is lots of anger at this bill and a view in this country that the people who made the mess aren’t being asked to clean it up. And I have to be honest, I agree, but I also think there isn’t much of a choice here. You all saw what happened today after the news came through. The markets froze up, everybody panicked. I heard that the people who didn’t like this bill thought there were serious issues with it. That the Dems who didn’t vote for it thought Henry Paulson got too much authority and that there was not enough oversight, and the Republicans thought the entire thing was just a pile of crap. But all these issues are fixable, all of them.

So….Who do you blame for this? For the Fail-out and the mess itself. One word Answer.

You.

That’s right, YOU. YOU, Mortgage Industry, made these insane loan offers that were too good to pass up. YOU, Investment Banking industry, created mortgage backed securities based on loans that you KNEW were flawed. YOU, The average American, for buying into this manure, and listening and buying it because it looked too good to be true, a steal of a deal. But look at it now. Who got robbed here, and who did the robbing? You know the saying about stuff that looks too good to be true. You got the No doc Mortgage because you thought the American dream meant having that home, and the price on that mortgage was high but, so what, the rates are low, and they’ll stay that way, right?….

WRONG.

You knew they were greedy swindlers but you bought into it anyway. Here’s a question. Do you buy stupid crap that people sell at 3 a.m. in those infomercials? No, or you shouldn’t if you do. Why? YOU DON’T NEED IT. Think about it, how much did you NEED that house that cost all that money and in the end put you out on the street because it costs too much to pay for? Thinking about it now, would you do it again? NO. <—-do you see that word? THAT’S what you’re supposed to say when that offer that’s too good to pass up comes to your door. But you said the wrong thing.

You said YES. And because you couldn’t control yourself, America, we all have to pay for it. Thanks.

You said yes when sense and your paycheck told you no. And now we ALL have to pay for YOUR mistake. Hell, I live in a one bedroom apartment and I’m pretty happy here. I could have bought a place, but I didn’t. Didn’t seem the prudent thing to do. Wanna know why? It’s a thing which America seems sorely lacking in these days.

Discipline.

That’s what you’re going to need now America, by the bucketful, because this mess is only going to get worse.

The only thing about the Candidates I’m gonna add here is that Sen. Obama said this is just congress being congress, while Sen. McCain said this is the fault of the Democrats and Barack Obama injecting Politics into this.

In those two statements, tell me, Who injected politics?

One Final Point. I watched a news conference held somewhere on the lawn of the White House held by Henry Paulson. The man looked scared, nervous, and almost at the breaking point. I have never liked the man before, but I tell you, I actually feel sympathy for the man now. It’s as if the entire financial mess is landing squarely on his shoulders, and it looks like he’s about to break. Good Luck Henry, with this bunch, you’re gonna need it.

Wanna rant and rave and rail about this? Drop me a line!

Uncle Mikey