Financial Markets Bill *** FAILED IN THE HOUSE

[FUZO]

TweetR.3997 - Financial Markets Bill *** FAILED IN THE HOUSE IN FIRST VOTE ***OFFICIAL BAIL OUT THREAD HERE****

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H.R.3997 - Financial Markets Bill (Highlights from C-SPAN - ticker/roll tape during voting on the Bill in the House of Congress)
$700 Billion intervention plan

If you have link to the real bill, please post the link.


Quote:
Govt to purchase upto $700B of troubled mortgage-backed securities created before March 14th
$250B available immediately
$100B at President's discretion
$350B subject to congressional review
Govt holds securities upt 5 years for resale at profit; no profit, president proposal plan to recoup
Participating companies must give the government a share in profits made after purchase of assets

Treasury Department must set limits on executive compensation in participating companies.

Treasury Department must develop a plan to encourage mortgage lenders refinance homes before foreclosue.

Create oversight board to review plan's effectiveness & panel to review regulatory system.

Authorizes insurance program for companies to cover losses from mortgage-backed securities.


House needs 217 votes (simple majority) to pass the bill.

--------------------------YEA--------NAY-----NV
Democrats----------------141----------94
Republicans----------------66---------132------1
Total---------------------206 --------227------1

The Bill as it stands in its first go at voting is dead in the House. (It was expected to pass by a very narrow margin)

They needed an assured pre-consensus with at least 100 Republicans to get into this voting, but they did not seem to have this.

================Market Reaction========================================== =================================================

Market was down nearly 700 points at one point when the bill first failed with more than 217 nay's.

Market is down 400 now

Apparently, there is another chance for this to go through tomorrow.. (Heard that on FOXNews - Neil Cavuto)





McCain vindicated, Dodd, Frank and Pelosi have egg on their face

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There never was a deal!! John McCain didn't interject presidential politics! He came to Washington last week because this deal was going to fail miserably and now it has thanks to the presidential politics played by the democrats.

Obama's first chance to lead and he fails! Thank you Ted Poe, thank you republican party for sending the Pelosi-Dean lead, radical democrats a message!

[Klash]

TweetPelosi partisan pre-vote speech.
https://www.breitbart.tv/html/184803.html

[FUZO]

Tweetshe needs to step dopwn along with reid and others,egg on your face ***** .dont even want to listen to her bull shit.

[deepsouth]

Tweetcouldn't happen to a finer person(Pelosi)-hahahahahaha!!!!!!

[gator_mclusky]

TweetI knew the Dems would blow it some how!!!!!

Pelosi reminds me of the re-incarnation of Teddy Kennedy!