Democrats and Republicans are pointing each other....fighting each other....as the huge bailout plan fails................EFFECT$$$
JUST AFTER IT FAILED!!!!!

Approximately $1.2 trillion in market value is gone after the House rejects the $700 billion bank bailout plan....

Asia stocks fall after US failure

Japan's benchmark Nikkei stock index has fallen almost 5% in early trading, hours after a US financial rescue plan failed to gain Congressional backing.

In NEpal

U.S. $

75.09

75.65

it just happened............

what would be repercussion of this bailout failure? It will lead to recession? God forbid recession, but if its inevitable, there would be massive job-cuts, and forget about new hiring, the foreigners would be the first causality...afno desh maobadile bigareko americalai economy le...ke hune hola

Never ever thought of losing that gigantic amount in the single day because my chunk of fortune is gone as a result of downgrade of Apple Inc. and freaking steep market decline. These financial illiterate congressmen and congresswomen don't know much about how much they are losing their own equity on their retirements holding such as pension, 401K, IRA etc. These politically motivated pinhead self absorbed clowns won't get another chance to serve people in congress after Nov 4 election.

They need to educate how market and economy works in capitalistic society. Credit market is the fuel for the economy. Freezing in credit market will result severe consequence that will spread out of Wall Street to Main Street. Jobs will be lost, getting loans for car, home, college will be much more difficult. Home prices will further deteriorate to all time low. There zillions thing will happen unless congress pass the new bail out plan as soon as possible. So far 12 banks have fallen or seized, many more banks certainly will fail.  

Bailout just a band-aid? Whats CNN pundits referring to? Do they mean economic slump is certain despite that package...if thats certain what would be the consequences?  

 

Job-cuts would be in millions and a person like me, who is not a citizen/ gc holder, would be axed first. Cash job will be hard to come by....how dare the Indians/Pakistanis/ Arabs offer job to illegal workers overlooking americans who will go thru tremendous hardship plus the feds as well as state governments will act tough against illegal employment...thats for sure.

 

Where one should be prepared to head for? Nepal? That would be last place given the situation- do I want to get butchered and be buffet for maoists? Noo. Seems difficult time ahead...i am from generation DIFFICULT.....generation unwanted....do i want to sue condom manufactures for defective supply? sure.....

 

may sound cynical...sorry but this is coming newsmen and economic gurus...they are talking about it repeatedly these days

 

 

 

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this is coming from newsmen and economic gurus....economic slowdown is their view and this is what they have been talking about most often lately....lets hope Mr. Hope will do wonder.

 

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