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  1. #11

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    Quote Originally Posted by Lateralus View Post
    I'm torn. I philosophically agree, but my pocketbook disagrees.
    Same here.

    If I didn't stand to loose my life savings, I would be cheering the news.

    Whatever the heck they come-up with, I believe I'll be in the category (upper-middle class) that pays the most taxes, and loose the most as a shareholder at the same time.

    The rich are never going to pay the most taxes; they (or rather their highly paid accountants) know how to use the loop-holes.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  2. #12
    Emperor/Dictator kyuuei's Avatar
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    Wait I'm so lost. What happened to start this thread?
    Kantgirl: Just say "I'm feminine and I'll punch anyone who says otherwise!"
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  3. #13
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Jack Flak View Post
    Now everyone gets to eat the sandwiches they made for themselves--in their new tiny apartments.
    You mean in that abandoned McMansion down the street...
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #14
    mrs disregard's Avatar
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    Quote Originally Posted by kyuuei View Post
    Wait I'm so lost. What happened to start this thread?
    Half an hour ago, "The U.S. House has rejected legislation to bail out the country's financial industry by a vote of 228-205," according to MSNBC.

  5. #15
    Emperor/Dictator kyuuei's Avatar
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    Oh. =( Well that doesn't sound too good..
    Kantgirl: Just say "I'm feminine and I'll punch anyone who says otherwise!"
    Halla74: Think your way through the world. Feel your way through life.

    Cimarron: maybe Prpl will be your girl-bud
    prplchknz: i don't like it

    In Search Of... ... Kiwi Sketch Art ... Dream Journal ... Kyuuei's Cook book ... Kyu's Tiny House Blog ... Minimalist Challenge ... Kyu's Savings Challenge

  6. #16
    mrs disregard's Avatar
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    I'm a little shaky on politics, but I think it's good for people that hadn't invested in Wall Street and put-a-shotgun-in-your-mouth horrible for those that did.

  7. #17

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    Here is one source:
    House rejects financial bailout bill - BostonHerald.com
    The U.S. House today rejected an historic $700 billion bailout of Wall Street despite legislative leaders appeals to rank-and-file members that the bill was needed to save the U.S. economy from possible catastrophe.

    The Dow immediately plunged as investors watched the dramatic House vote on television, but recovered a bit after the stunning developments.

    After more than three hours of debate, the legislation was rejected by a 228-205 final vote.

    Democrats provided the bulk of the votes for the bill, but Republicans reportedly couldnt round up enough votes from their side.

    We must protect Main Street, said U.S. Rep. Ed Markey (D-Malden), echoing the sentiments of others who said they disliked having to pass the bill but felt they had no choice to vote for it to avert economic disaster.

    U.S. Rep. Barney Frank (D-Newton), a key negotiator as chairman of the House Financial Services Committee, appealed to fellow liberals to vote for the package, despite reservations that it doenst do enough for the poor.

    The poor will get nothing if no compromise package was approved, said Frank, insisting Democrats did everything they could to protect taxpapyers and lower-income people in the bill.

    Leading Republicans, who faced a mini-revolt within their ranks over the wisdom of the federal government interfering in the markets, also appealed for bi-partisan votes.

    The American people are angry, acknowledged U.S. Rep. John Boehner (R-Ohio).

    But the imperfect bill - which authorized the Treasury to buy up billions of dollars in bad subprime-mortgage debt from reeling Wall Street firms - was better than not acting at all and risking a financial-system meltdown, said Boehner.

    Rejection of the bill came only a day after the White House and congressional leaders reached a dramatic, tentative agreement after days of grueling negotiations.

    Earlier today, President George Bush kept the pressure on lawmakers to pass the bill, which he said was needed to keep the nations financial system from seizing up and harming the economy as a whole.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  8. #18
    Senior Member Eileen's Avatar
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    Quote Originally Posted by ygolo View Post
    The rich are never going to pay the most taxes; they (or rather their highly paid accountants) know how to use the loop-holes.
    Jerks.


    I am, at the moment, happy to be in my very secure career. Too bad I've wasted a workday checking MBTI Central.
    INFJ

    "I can never be what I ought to be until you are what you ought to be. You can never be what you ought to be until I am what I ought to be. This is the interrelated structure of reality." -Martin Luther King, Jr.

  9. #19
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    Quote Originally Posted by Eileen View Post
    I am, at the moment, happy to be in my very secure career. Too bad I've wasted a workday checking MBTI Central.
    I laugh at your "J" rhetoric.

  10. #20
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by disregard View Post
    but I think it's good for people that hadn't invested in Wall Street

    its going to affect some people's jobs at some point down the line. People who work for non financial companies that are borderline on layoffs too...

    imagine the small business owner (possibly your boss) trying to make payroll, but his debtors can't pay him, and the banks won't lend him money.

    small business owners will feel the affects pretty soon.

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