Any downside for a Critter to vote no on the Bailout?

[European Socialist]

Would it hurt in any State or District? I think not! Democrats beware of a trap--think how your Repuke opponent might use it against you.

[onenote]

1. depends on what is in the final plan

if its got meaningful provisions for the middle class and caps on executive pay, a no vote might not be such a great thing for a repub to run on, especially if mccain votes yes.

[Mojorabbit]

2. Well if it is voted down and in three weeks

we have a collapse of the financial system, it could be a problem.

[European Socialist]

3. Sounds like the Sadam nuke argument--fear over principle.

[JackRiddler]

4. The reverse is just as likely. It will be voted up, for sure, and there will be...

a collapse of the financial system.

If anything, the "bailout" will accelerate it: trade $700 billion in real money at above market for bad debt. Taxpayers hold bad debt. Traders take $700 billion straight back to the casino, or disappear it into hard currencies like the euro. Crash comes anyway, dollar melts down anyway, but those who committed the crime get away with a final giant haul.

Hell with it. I support the bailout. Let the inevitable arrive.

[Mojorabbit]

5. Oh I expect a crash anyway

but it is worth at least trying to prop things up. A good chunk of the world are propping up their banks too. You would think they would assemble the greatest economic minds in the world and together work out something that won't cause a global depression.

[JackRiddler]

6. No, I wouldn't think that mere brains could solve this...

The contradictions are too fundamental. Bubbles and crashes are inherent by definition in the capitalist system. It's always happened before, for the same reasons on the simplest level. The profit and growth imperative, competition among private actors, the anti-miracle of compound interest, the tendency of profit to decline in any given sector over time, the government at the service of private interst, the advantage to the ruthless (often the "smartest"), the limits of the ecology all always converge on precisely this form of crisis, with never a solution that doesn't involve the rich getting richer, millions cut out of the game, millions thrown out on the street, and war as the necessary means of rebooting the system.

EDIT: Anyway, there is nothing they can do about the crisis of debt and the dollar. Be smart all you like, there is nothing to be done; either a credit meltdown and depression, or monetize the debt and prompt hyperinflation. This is not doom-saying, it's very simple fact.

[Mojorabbit]

8. My sister and I were discussing

this yesterday. A global war it will be we both think but not before some painful times in this country.

[TahitiNut]

7. This is where the political 'realities' have very little to do with the economic realities.

What's even more bizarre, the economic 'realities' can be regarded as existing in two different 'spaces'. Some look at the herd behavior, trends, and superficials of the economy and others look at the more substantial elements of balance sheets, assets, liabilities, productivity, and book values. The first viewpoint is like astrology and the second is like astronomy. Since these viewpoints also motivate the decisions made in a wide variety of participants in the economy, we see a bizarre combination of science and superstition impacting brazillions.

It's an insane clusterfuck the proportions of which make the 1929 economy look like Tinker Toys. (Hindsight always makes things look simpler.)

[SoCalDem]

9. Of course not... They NEEDED this little gift that King George gave them

They vote NO NO NO NO , and go back to their districts a HEEEERo for not "wasting" their precious tax dollars..and those mean ole democRATS kept trying to make them vote for a bailout of rich folks..

nevermind that their party was the one who robbed the treasury blind, and wrote laws to create the mess..they'll never tell about those things..

dems & repubs alike should "just say no"..and after the election, they can all sit down and actually figure out what to do..if anything..

republicans love cannibal capitalism, as long as it does not affect THEIR "folks".. Some of these "corporations" NEED to fail..Then we can start again..with RULES..

[radfringe]

10. the questions that were not asked

why this plan? why a bail out of this magnitude? are the other possible solutions?

assuming there is a solution that works - then what? what guarantees do we have that the repubs won't go deregulation crazy in a few years down the road and the same crap happens again?