I heard Newt Gingrich interviewed on NPR about it, and he said basically the same thing. He thought this bailout was a terrible idea, a massive burden on taxpayers, and the administration is trying to ram it through as quickly as possible before the public really grows aware of what's happening and puts a halt to it. I don't agree with Mr. Gingrich very often, but I can respect him more than most republican jackholes in office right now since he at least seems like more of an old-school, small govt. conservative.

You know, the neocons really make me appreciate the old-school small govt. conservatives.

At least they had a consistent message.

That's what always makes me laugh about Ron Paul. Dude would always get ants-in-the-pants over not being "conservative enough" to get the Republican nomination, when he's the only one that's actually conservative according to the party's origins.

These days, the Republicans are only conservative in terms of religious/moral issues... not conservative at all with regards to the economy, spending, wars, oil, etc.

Bill has been passed...through the senate...lol didn't read carefully enough...

http://www.nytimes.com/2008/10/02/bu...nted=1&_r=1&hp

The new bill rocks...

"Also included were more obscure terms extending tax breaks for motor-sports racing tracks, makers of wooden arrows for children, and the rum excise tax for Puerto Rico and the Virgin Islands."

Get drunk at the track and put your eye out...

Good to see that the bailout has stopped the bleeding on Wall St. :rolleyes:

It's a Rescue Plan damn it! Not Bailout!

AIG Executives Blow $440,000 After Getting Bailout




http://www.foxbusiness.com/story/mar...tting-bailout/



Lovely!!!

I am surprised that happened.:|

:unamused:

We have effectively "crashed", it just took us a few days to do it...

I think we could have done it just as well without spending $850B on a "bailout" too.

That is part of the problem... The fed wasn't ready to act the day that was signed. Until they stop talking and start acting, we will continue to drop...

If they had had the first auction minutes after the bill was signed or any time in the first 24 hours or so, we would not be here...

The more they wait, the worse it gets. It is so bad, I applied for 4 more jobs today at quite a bit lower position than I would like. :( :)

Definitely makes me think about future research grants.

OMG, the president is going to reassure us again tomorrow AM... Say hello to another down 500 day... :(

Any guess as to where the bottom is?

Yep, when our real-world productivity is matched, and then a little farther.

The market bottom will be well before the economy does. Possibly by as much as 6 months. For the most part, it is a forward looking indicator when it is not reacting.

There is an absolute ton of cash on the sidelines waiting for a sign to move back in...

If the fed starts clearing trades which eliminates the counter party risk, that may well be it.

Is is not likely to be a "V" bottom, though there may well be a a 1000+ point 1 or more day rally near the bottom. It is far more likely to be a "U" where confidence slowly builds and money comes in, but those who are in early take profits on the way up.

If it doesn't happen in the next 2 weeks, maybe 30 days, it may not happen for 12 months as confidence will be at zero and will likely stay there for some time no matter what actions are taken.

I know that isn't an answer, but if I knew the answer, I would be making a fortune and not looking for a job...

Yeah, I really wish I had a more sizable nest to throw at the fantastic long-term outlook that almost every form of investing has right now. I've got short term issues, like how I'm going to buy a house anytime soon with the mortgage industry so whacked, but long term investments can't help but grow... unless world economic war/apocalypse is coming. Then renting won't seem so lame.

So the current economy is starting to take its toll on our business. 2 people were laid off from our office. The company laid of 15 or so people, mostly administration and support staff. They said they were preparing for a slow down/decrease in our profits toward the end of the year. I made it through round 1. I have heard that the company may be revisiting the subject again in January.

I hope all the work from the passed k-12 and high education bonds kicks in soon. I guess we have to wait for the bonds to fund first.

This is too close for comfort I know way too many people who have have been laid off or who are forced to work in lower positions to make ends meet.

Good luck everyone!

We find out Thursday about who is going to be part of our company's "Involuntary Separation Program"

:eek:

The committees that sit around and approve names like that would be a great place to start.

Oh no. Has IGT laid off anyone yet? I imagine the production of slots is way down right now. That's no good for Reno or you guys for that matter. They provide a lot of jobs for Reno area.

So scary. I'm looking at other options just in case. It's a good time to polish the resume and learn as much as possible in case the worse happens.... again.

We're expecting "100's" of engineering jobs to be lost. I don't know how bad it's going to be for production. The last number I heard was a reduction of 13% of the payroll costs.

Oh man. Eek. I thought my stomach was in knots; I can't even imagine what you guys are going through. I hope everyone comes out on top and the market turns around quickly for your industry.

I'm seriously thinking of rushing through the remodel on our place, in hopes that if something happens we can get someone in to rent it. We managed to score a good deal on the place and the mortgage is below going rent so we have a little wiggle room. Unfortunately many do not have this luxury.

Suddenly life is more serious. Boo.