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"Up Yours. My House is paid for and I can shoot my own dinner!"

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September 29, 2008 – Comments (6)

The more I look at the reaction I'm seeing from "Main Street" and today's bailout vote today, the more I think that's the prevailing mood.

If I may paraphrase: "Up Yours, Mr. Big City Banker. My house is paid for and I can shoot my own dinner! How many of you fancy Wall Street types can say that?"

I'm not saying that's the right thing to think. I'm also not saying I think this plan was good, and I still don't know that I think it's absolutely necessary, but I do think the bill we got was as good as we could expect under the circumstances.

Looks to me like populists, or those who would take on that mantle shortly before the election, are calling bullspit on the whole "financial Armegeddon" line. I guess we may find out if that's the right prediction or not. These are crazy times.

Sj

6 Comments – Post Your Own

#1) On September 29, 2008 at 3:32 PM, DemonDoug (85.49) wrote:

It seems like for the first time in american history, congress (or enough congresspeople) actually listened to real economists who have no motivation to get money from the government dole.

And you might not say it seth, but I will, I do think it is the right thing to think.  The wealth disparity in this country has been driven by wall street, and it's disgusting.  (Ever see the movie "The Nanny" with scarlet johanssen?  It is right on point, and that is the view of many people in this country, and if this is the average person's revenge against that type of greed, then so be it.)

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#2) On September 29, 2008 at 3:46 PM, XMFPhila100 (92.29) wrote:

Unfortunately, I don't think Congress experienced an epiphany here. Let's not forget there's an election in a few weeks and every House seat is up for contention. If this had been presented last October, or even this spring, I bet it would have passed.

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#3) On September 29, 2008 at 4:21 PM, jegr5347 (< 20) wrote:

I was in favor of this plan. My uncle mentioned that this situation is like alcoholism. Until you don't hit bottom, you won't truly recover.

I guess we need to pull out the tents and gas lanterns.

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#4) On September 29, 2008 at 4:59 PM, ByrneShill (75.11) wrote:

Dow down 777 today. Must be those evil greedy shorts. I bet the sith lord tried to get the dow down 666 but the fax got corrupted by the CNBC fax machine. If only the SEC had banned shorting financial stock, now that would have protected the little guys... 

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#5) On September 29, 2008 at 4:59 PM, ByrneShill (75.11) wrote:

Dow down 777 today. Must be those evil greedy shorts. I bet the sith lord tried to get the dow down 666 but the fax got corrupted by the CNBC fax machine. If only the SEC had banned shorting financial stock, now that would have protected the little guys... 

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#6) On September 30, 2008 at 4:09 AM, jester112358 (28.92) wrote:

Too bad their weren't any shorts to serve as buyers and put some sort of price floor under the market by covering and taking profits.  Another unintended consequence.

 Thank goodness there was an election or this bailout might have passed.  I want to thank those representatives would favored freedom vs more government interference (the source of the problem in the first place).  To complain about greedy wall street bankers is like wondering why lions are never vegetarians.  Just don't lend them money at such low interest rates!  Ditto consumers, who, well, like to consume bless their little SUV, RV, no down payment loving hearts.   Now maybe the disadvantages of being debtors will become apparent without having to review novels by Charles Dickens.

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