New Bill to be Voted on

[Martrae]

http://clerk.house.gov/evs/2008/roll681.xml


Just about all these guys are up for re-election, no? Make your voice heard with your vote.

[ClakarEQ]

Am I missing something I didn't see obama or mccain. Maybe I'm not understanding :\

[leah]

http://www.msnbc.msn.com/id/21134540/vp/27000091#27000091\

ok, ok, I know MSNBC leans as far left as Fox does right, but did you guys see this? pretty sneaky to say it during a day when people will be distracted with the VP debates, but how do you urge someone to veto something you yourself voted for?

whoa this guy talks really, really fast!! (the reporter, that is hehe)

[Martrae]

Am I missing something I didn't see obama or mccain. Maybe I'm not understanding :\

That was the link for the House vote that was done today.

[ClakarEQ]

doh, LOL, ok sorry , I didn't "get it".

[Martrae]

But several hurdles could trip up the plan. For starters, even when the Treasury starts buying bad assets, some banks may hoard the cash they receive in return until they see how the plan pans out. That has the potential to make the lending logjam worse, said Vincent R. Reinhart, former director of the Federal Reserve's monetary affairs division.

"They may sit on the sidelines and wait to see (the bailout) get some traction. The problem is if everybody sits on the sidelines, nobody gets in the game. It's a risk," he said.

It also creates a vicious cycle: No trust means no lending; tight credit means it's harder to buy a home; the more difficult it is to buy or sell a home, the further home prices will fall; and the further prices drop, the more foreclosures there will be.

U.S. home prices - down 20 percent from their peak in July 2006 - still have further to fall, and must hit bottom before demand picks up. The long-awaited bottom in prices could be a year or more away.

This is why the bailout won't work and will only prolong things. Banks will wait no matter how much money we throw at them and adding more dollars to our economy will only devalue everything and add to the misery.