Breaking: Bailout vote underway; Update: 218; Update: 263-171
posted at 1:07 pm on October 3, 2008 by Allahpundit
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Magic Eightball says all signs point to yes, with both Hoyer and Blunt expressing “confidence.” If it fails, we’re likely looking at the Dow falling off a cliff and calls for Pelosi to quit.
A sweaty, panicky blogger chambers a single round and waits for the paddles to hit an economy in cardiac arrest…
Update: The vote’s not done yet but they’re already at 231. Unless a swath of members switch to no at the last minute, it’s a done deal.
Update: Sugary Senate pork made the medicine go down: 263-171 as the gavel comes down, with some 90 Republicans voting yes. The Dow has suddenly dropped by 80 points or so, but I think I know why — it’s pessimists like me unloading their portfolios to capitalize on the post-bailout spike ahead of what they expect will be another downturn next week. (I didn’t unload, but thought about it.)
Standby for the roll of glory bitter resignation!
Update: Democrats predictably credit The One, who leaned on members to switch and push this through.
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And there go the unicorns and rainbows too.
Chuck Schick on October 3, 2008 at 4:46 PM
Rate cuts coming on Monday?
MB4 on October 3, 2008 at 4:47 PM
Bingo. In a culture of “most profit for least effort”, anything that involves putting your nose to the grindstone for not just a few minutes but days, weeks, months, even years on end is simply “too difficult” to bother with.
*eats*
Grue in the Attic on October 3, 2008 at 4:47 PM
Our first clue should have been the booming rent-to-own retail sector.
FiveWays on October 3, 2008 at 4:53 PM
Maybe this is why McCain gave up. WHo the hell would want to spend his golden years cleaning up this f-ing mess? Id rather rot on the golf course and then go home and bang my beer queen too.
Chuck Schick on October 3, 2008 at 4:54 PM
Deserving all the scrooming they/us will get.
Every populace deserves its leader/s.
Entelechy on October 3, 2008 at 4:55 PM
I wonder if this is how the Germans felt after the National Socialists seized power.
Well a note to my fellow would-be revolutionaries: better make some plans now because this isn’t the 19th century anymore. If a group of citizens plan to “refresh the tree of Liberty with the blood of tyrants and patriots” (or is it patriots and tyrants, I can’t remember) then they’d better take into consideration the level of success enjoyed by the Fedaheen in Iraq.
Those “insurrectionists” had virtually every advantage the modern world could afford them save favorable terrain. They were undocumented, heavily armed, and received substantial support from abroad. And who’s winning that fight?
The side with Apache attack helicopters that’s who.
This coming civil war, and I have no doubts that it is an eventuality, will be unlike any of the others in American history. Having a 270 in the closet is a good start but do you honestly think that our hunting rifles or even, gasp, our “assault weapons” will be any match against predator drones, orbital surveillance or GPS guided munitions?
Unlike the Fedaheen, who will dare to smuggle weapons into America so that the Anti-socialist “terrorists” will be better armed for their uprising? And don’t forget that the forces arrayed against us will have more than just maps of our territory, they’ll likely have personal experience on the ground that they’ll be fighting on.
Oh, and one more thing: Many of you are counting on military assistance for your rebellion. Don’t. This revolution will not be against a king or some dictatorship, but against a constitutional democratic republic. To take action against federal officers or military personnel is treason regardless of what Jefferson wrote and the heroes that don the uniform to defend America swear to protect her from all threats, foreign and domestic.
And if you don’t think this is exactly what will happen then you need to catch up on your history.
Browncoatone on October 3, 2008 at 4:58 PM
That’s the American Dream right there.
cntrlfrk on October 3, 2008 at 4:58 PM
Conservatism as an ideology has lost. The average person rejects it as too harsh, uncaring, and just plain unfair. We have lost but now they have to produce they have to give what they promised, and it’s easier to dream of utopia than create it. They will fail and people, not all, will see that nothing is free. When this happens the U.S. will either: mass revolt at the polls, have an internal ideological cleansing, or break up into multiple states.
DFCtomm on October 3, 2008 at 5:03 PM
Would think a 50bp cut is one of the few tricks Hank & Ben have left up their sleeve. Look for an attempt to coordinate a global rate cut. It will be a really nifty feat, though the markets will probably yawn in response and sell off anyway.
dedalus on October 3, 2008 at 5:05 PM
Nicely done. And good article to boot.
*eats*
Grue in the Attic on October 3, 2008 at 5:07 PM
That’s not how it will go down at all. First the military will be hacked to bits, and totally ineffective after just a few years of socialist control. Remember this is the nanny state and not the Nazis. The nanny state is good at some things, like convincing soccer moms that conservatism is just too harsh for our gentle society, but poor at defending itself, look whats going on in Europe if you don’t believe me. The problem is not winning, but instead how to purge the socialist ideology without destroying our morality.
DFCtomm on October 3, 2008 at 5:16 PM
I don’t know that is one fine beer queen.
Dasher on October 3, 2008 at 5:27 PM
Oops I misread that… I agree LOL
Dasher on October 3, 2008 at 5:27 PM
Look now that conservatism has lost we have to look at how we got defeated. That is how we will win our way back. We banished liberalism in the past, but we didn’t destroy it. We let it retreat into academia and the media. What harm could it do there after all we had the positions of power in government, business and society. We didn’t realize that academia and media shaped society, and the minds of future voters, but they couldn’t move quickly. They moved in small incremental steps so not to attract attention. We have to take back these arenas and begin to quietly, slowly shape the mind of the nation and society.
DFCtomm on October 3, 2008 at 5:29 PM
I’m getting seriously drunk tonight.
ronsfi on October 3, 2008 at 5:30 PM
Didn’t communist countries like the Soviets, the Chinese and even the North Koreans maintain fairly strong military forces, especially in light of their weak economic growth? It seems that corrupt leaders always maintain enough military force to protect their own power.
dedalus on October 3, 2008 at 5:33 PM
Yeah, but that’s not what we’re dealing with. The nanny state is a completely different beast, and it won’t easily morph into a communist state. That would mean rapid quick disillusionment of it’s supporters. They probably aren’t even that interested in the military, but they will be very interested in the police.
The police can be used to support their anti-hate laws, that will be used to undermine freedom of speech, and what good is the military? It could defend our borders or protect us from foreign powers, but they like illegal immigration, and wilt at the idea of using military power instead of negotiation.
DFCtomm on October 3, 2008 at 5:43 PM
After a few years of socialist control we’ll all be disarmed and sent to mental institutions to cure our ‘Motivated Social Cognition’. It’s amazing what you can get away with if your rival is “crazy”.
Browncoatone on October 3, 2008 at 5:48 PM
Sheets/Beck 08
equanimous on October 3, 2008 at 5:58 PM
Calm down, there isn’t going to be a civil war, or a fascist dictatorship imposed by Democrats. The sky isn’t going to fall. Seriously do you know who you sound like, you sound like really liberal democrats who were convinced that Bush was going to put them all into concentration camps. All this election means is that your going to have to wander the political wilderness for a while. And republicans have nobody to blame but themselves, republicans have gotten this country into such a mess that voters are just plain tired of republican rule. And don’t blame the democrats, they have only controlled the legislative branch for the last two years, the catastrophic debt we found ourselves in, and the unprecedented expansion of federal government all happened under Bush’s and Delay’s watch.
Ric on October 3, 2008 at 5:58 PM
We will lose all the firearms they are aware of, but there will always be machine shops. We will have to come up with a cover story. Liberals used equality, kindness, and fairness, but in the coming economic crisis we might be able to use personal responsibility, and fiscal prudence to promote our agenda. It would fly in those conditions.
DFCtomm on October 3, 2008 at 6:03 PM
Well said. That is exactly the challenge we face.
We have got to find a way to do it too.
techno_barbarian on October 3, 2008 at 6:22 PM
Respectfully, and I mean that, please take a good hard look and listen to this and then tell me the plan hasn’t been implemented long ago, is succeeding beyond their wildest dreams, and that we’re not right this minute living thru the very fruition of the crisis stage.
KGB defector Yuri Bezmenov interview in 1985
I’m trying to get a copy of the original footage, as I very much want to do a documentary.
techno_barbarian on October 3, 2008 at 6:30 PM
Chilling!
flyfisher on October 3, 2008 at 6:51 PM
There most certainly is going to be a civil war- because I’m going to start one! And you’re all invited.
Of course I’m not going to start it until after the socialists go for the guns. But I think that’s only a matter of time. Let Obama choose 4 members of the SCotUS with Democratic majorities in both chambers and we could have them knocking on our doors before 2010. Elect McCain and we might, and I stress the might, pull another 30 years without another revolution.
Browncoatone on October 3, 2008 at 6:57 PM
I predict that the very people who caused this mess will live to regret this BS Bill.
They claim that their pressure on banks to write loans was “promoting affordable housing.” They also managed to sneak a provision into the Bailout which lets judges reset the terms of a mortgage, including principle and interest.
But they don’t understand capitalism or the dynamics of economics: free people don’t just stand there and take it when they are being raped - they respond and fight back! In the case of banks, this ultimately will mean that many banks will either pull out of the mortgage business altogether. The harder Democrats try to force banks to write bad loans in the future, the fewer mortgages will be available: this is the exact opposite of what these Democrats want!
And it won’t be long until the private sector finds a way to remove the mortgage business from the reach of this idiotic, socialistic law altogether: moving it offshore, pawning the business off on non-banks, or whatever. The private sector is always smarter than government.
Hopefully the country will find a way to put Chris Dodd, Barney Frank, Barack Obama, and the other thieves and slimeballs who used Fannie Mae and Freddie Mac as their political piggy bank and cost every man, woman, and child in the country $2000, in jail where they belong!!
landlines on October 3, 2008 at 7:07 PM
Every member of Code Pink and ACORN should see this.
Browncoatone on October 3, 2008 at 7:08 PM
Not likely. They will be praised and lionized and will profit even more as your fortunes and mine decline and our lives become more miserable.
They will have lavish parties in lavish homes as you and I struggle to pay our ever-increasing taxes.
They will enjoy the best medical care as you and I sit in long lines after they socialize our health care system.
They will die peacefully in bed, surrounded by friends and loved ones and there will be momuments built for them.
You and I will die in impoverished obscurity.
Hope this helps.
ManlyRash on October 3, 2008 at 8:11 PM
Nah. Before then the red states will secede.
ManlyRash on October 3, 2008 at 8:12 PM
Next time take a page from the Democrats and just lie to me.
Browncoatone on October 3, 2008 at 8:14 PM
I don’t know that is one fine beer queen. - Dasher on October 3, 2008 at 5:27 PM
I’d do things to her I wouldn’t do to farm animal.
*awkwardly silent pause*
Oh God……Did I type that out loud?
ManlyRash on October 3, 2008 at 8:14 PM
You deserve the truth, Browncoat. And, hard as it seems to be right now, the truth will set you free.
ManlyRash on October 3, 2008 at 8:15 PM
Dude, Rod Beck passed away, and the Brewers closer is Torres.
I hope you mean Glen Beck.
Sapwolf on October 3, 2008 at 9:00 PM
But, if it gets bad, some state national guards will leave the national military to fight for the state.
And, getting a few nuclear weapons for a seceding state is quite possible.
It could happen. Make a great novel too.
Sapwolf on October 3, 2008 at 9:04 PM
I don’t think the military will uniformly obey orders to attack American insurrectionists, I only caution those among us that speak easily of revolution while expecting the army to take the fight to Washington.
A squadron of attack helicopters can do an obscene quantity of damage and our modern birds can take quite a beating. I read somewhere that of like 33 or 35 Apaches sent on a day’s sorties nearly 30 of them were damaged, some beyond repair, yet all of them returned to base with crews unharmed. Grandpa’s 30-30 was a formidable weapon in his day but against modern threats other methods must be devised.
Needless to say, any revolt against the government, no matter how justified will be an unprecedented disaster for America- and by extension the world. I still hope that it can be avoided, but I no longer believe it is a matter of if, but rather a matter of when the war descends upon us.
Browncoatone on October 3, 2008 at 9:24 PM
Ya mean like this?
electric-rascal on October 3, 2008 at 9:29 PM
Oddly enough, the bill passed today includes provisions for more snooping, undercovering investigations, etc. by the IRS! Imagine that. The Dims are against terrorist surveilance but all for spying on US citizens if it means getting more tax money out of them!
uncalheels on October 3, 2008 at 10:40 PM
“There is an awful danger when the people become accustomed to tyranny. If the people learn to accept the small abuses, then larger abuses will follow. It is like a disease, crippling slowly, until the body is beyond repair…The people are getting used to being abused…” Samuel Adams
Sounds like modern times!
InTheBellyoftheBeast on October 3, 2008 at 10:51 PM
InTheBellyoftheBeast on October 3, 2008 at 10:51 PM
Where’s our Samuel Adams?
Disturb the Universe on October 3, 2008 at 10:54 PM
That was disturbing. A civilian military that is just as powerful as our military?
Tell me this has been vetted by HA already.
csdeven on October 3, 2008 at 11:18 PM
little water for the tree …
That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
i’m ready to turn on the sprinkler …
AZ_Redneck on October 3, 2008 at 11:24 PM
AZ_Redneck on October 3, 2008 at 11:27 PM
Can you imagine what this civilian military will look like? I’m thinking like the Nation of Islam members???
Besides which, why the hell do you need a CIVILIAN military? What’s wrong with a military military?
Mojave Mark on October 4, 2008 at 1:30 AM
I mean Carleton Sheets and John Beck
Sheets/Beck 08!
equanimous on October 4, 2008 at 5:53 AM
Mundus vult decipi, ergo decipiatur.
The world wants to be deceived, so let it be deceived.
Friday, October 3rd, 2008
a day that will go down in infamy
BLACK FRIDAY
maverick muse on October 4, 2008 at 6:20 AM
There’s a good chance this election could be very interesting when you look “down ticket”. With anecdotal evidence that calls going into DC about the bailout were running close to 100 to 1 against combined with the diversified group opposed (not strictly conservative or liberal… across the spectrum), there could be an awful lot of incumbments lose elections that had not planned on it. When you look at the number of Democrats as well as Republicans that voted no in fear of losing their jobs, this could certainly be a case of unintended consequences for many of the folks in DC. I suspect that if the vote had been taken before the primaries began, it would have never passed. I don’t know about other folks, but I have very hard feelings over this. My tendency is to believe that it probably needed done as an emergency step, but I strongly believe that we do not know the full truth behind it. The credit default swap influence and rumors of the money going to China to keep them from eating our debts and a number of other plausible stories combine to make the lack of real information on who is going to get this trillion dollars is most disturbing. Mel Martinez voted for it and I truly wish he were up for re-election this cycle so I could vote against him. He was also a big supporter of amnesty, so he has lost my vote regardless of his opponent next time. I can only hope that we are given a reasonable alternative in the primary but I doubt this will happen. I was forced to change my registration to no party affiliation as the Republican party has moved away from me. When I look up and down the list of players, I think I could insert Hubert Humphrey and not notice much of a difference. It is truly time for a conservative party.
CC
CapedConservative on October 4, 2008 at 8:12 AM
Ask and ye shall receive.
Et tu Brute on October 4, 2008 at 8:47 AM
This bailout bill is bad, and every American needs to know it. It simply addresses the symptoms and not the root cause of the problem. Government policies created this mess, but nothing, nothing is this bailout addresses this!
The problem is simply being pushed down the road, maybe a year, probably less. This bailout will come back to haunt this country.
dugan on October 4, 2008 at 9:59 AM
Why is it that libs and cons talk about 700 billion dolars ? It is in fact that libs think that thier programes are the best way to go even when in fact we spend almost the same amout of dollars for IMPORTED ENERGY.
TomLawler on October 4, 2008 at 12:44 PM
Looks like it will need to grow considerably to reach the stage of “fledgling”….
Monday morning. Asian markets tanked huge. Europe is tanking huge. Look like this bailout thingy is working well.
CC
CapedConservative on October 6, 2008 at 7:16 AM
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