quotation-icon.jpgHold the presses people, the U.S. Congress just voted down the bail out package. Good night sweet prince. Let the exodus of jobs from NY begin. We are looking at a big down cycle staring us in the face. Real estate is sunk. Who ever thought the what could have been right?

— by Sam in Brooklyn Bargains? Condo Price Cuts


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  1. Hope some of you chronic posters are searching your conscience; the driver for this implosion was unsustainable inflation in housing prices. Did you come on here and hype prices (it’ll be worth x in y years; I personally know an UWS couple…European…in the arts…etc; the house two doors down sold for….)? If so, and you’re (ahem) talking about how the world is laughing at Congress, I have news for you: they’re laughing at you.

  2. The point is, had Pelosi just kept her big fat mouth shut, the bill would have passed.

    And if you believe that, I have a bridge for you.

    Those late night negotiations? Concessions were made on the promise of 110 Republican votes. That’s what Boehner promised Pelosi. Then he didn’t twist arms and get them. So to cover his failure, he acted like her typical house floor remarks were SO offensive it justified tanking the economy. Give me a break.

    And of course the toddlers in the Republican minority voted against an unpopular bill–in spite of the fact that they don’t have any clue of their own what to do. Say what you will about the Dems, they have a preferred option for action that’s modeled on Sweden’s successful response to the same kind of crisis.

  3. Think twice about this…Bailout or Bankrupcy.

    “Hopkins economists against the bailout”

    http://weblogs.baltimoresun.com/business/hancock/blog/2008/09/hopkins_economists_against_the.html

    ” ‘Horrendous’: Nobel economist George Akerlof criticizes Bush administration’s economic stimulus package”

    http://www.berkeley.edu/news/media/releases/2003/02/12_akerlof.shtml

    “Understanding the economic crisis from a variety of points of view: University of Chicago faculty provide their perspectives”

    http://news.uchicago.edu/news.php?asset_id=1445

  4. Surbandude: dood, stop watching FoxNews and start watching the news.

    A majority of Democrats voted FOR the bill. Only 40% of Democrats voted against it. If a majority of Republicans have voted for it it would have passed.

    However, twelve thin-skinned Republican suits had little to do with it. 133 Republicans — 66% of House Republicans — voted AGAINST the bill. That’s why it died, not because of Pelosi.

  5. A freedom of collective recklessness. The consumer culture, and correspondent Real Estate culture, have ruined our economy. The Dutch bought Manhattan for beads, and now we have sold the whole country for trinkets and McMansions. It is a shame that wallowing self-love brought down a once great republic. Throw a party, do some blow, the Russians are at the bunker door.

  6. Sarah, Sarah
    no time is a good time for
    Sarah, Sarah
    storms are brewing in your eyes
    Sarah, Sarah
    no time is good time for goodbyes
    Sarah, Sarah
    storms are brewing in your eyes
    Sarah, Sarah
    no time is a good time
    no-oh-oh-oh-oh
    oh-Sarah
    why did it, why did it,
    why did it all fall apart?

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