Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25.
Both presidential candidates, Republican John McCain and Democrat Barack Obama, made rare appearances to cast “aye” votes, as did Obama’s running mate, Sen. Joe Biden of Delaware. In the final vote, 39 Democrats, 34 Republicans and independent Sen. Joe Lieberman of Connecticut voted “yes.” Nine Democrats, 15 Republicans and independent Sen. Bernie Sanders of Vermont voted “no.”
The rescue package lets the government spend billions of dollars to buy bad mortgage-related securities and other devalued assets held by troubled financial institutions. If successful, advocates say, that would allow frozen credit to begin flowing again and prevent a deep recession. House leaders were hunting for the 12 votes they would need to turn around Monday’s 228-205 defeat. They were especially targeting the 133 Republicans who voted “no.”
The Senate rubber-stamping the Wall Street bailout.What happen next ?
Here’s the most likely scenario:
Hank Paulson & Co. survey the banking industry and decide who will stay and who will go. JP Morgan, Citi, Wells Fargo, and Bank of America will stay. Goldman will probably stay. Morgan Stanley might stay. Everyone else in trouble could go. The government doesn’t need to save all banks. It just needs to save some.
Within a month or two, Paulson buys $250 billion of crap assets. He pays more than market value, but not an egregious amount more (because the public will be watching these early rounds). Over the next six months, he buys $700 billion of assets…and then he–or his successor–asks Congress for more money.
Confidence improves modestly, but banks continue to hoard capital and credit markets stay tight. Loans stay expensive and hard to get. This keeps pressure on the economy.
The credit crunch filters through to consumers: Credit cards, home equity loans, mortgages, car loans, etc., get more expensive, putting more pressure on consumers and forcing them to cut back further.
The economic news continues to get worse: American consumers continue to pull back, housing continues to fall, companies begin to cut back, which leads to layoffs–which puts more pressure on consumers.
The global economy continues to weaken: Europe, Asia, and, eventually, emerging markets. This is already happen, and everyone else is later in the cycle than we are.
The stock market continues to fall, as corporate earnings come under increasing pressure and hope for an early 2009 recovery fades. Analysts are still expecting huge growth in S&P 500 earnings for next year. These estimates will get cut by at least a third.
The government enacts further measures to try to stop the fall in asset prices (stocks, houses)–including an expansion of the bailout plan–but these don’t work. Governments always try to do this. They never succeed. All they do is delay the inevitable.
A new round of white-collar prosecutions send a new posse of corporate villains to jail. Some will be guilty. Some won’t. All will be hated.
The government announces a new New Deal, finally investing in the country’s infrastructure, in the hopes that this will stimulate the economy (which it will). Investments include broadband, green tech, wireless, physical infrastructure, et al.
Eventually, asset prices will bottom: Housing down in real terms, the stock market down , this will happen by early 2010, so the recovery can begin. Warren Buffett loads the boat with stocks, but by that time, most people are too depressed and poor to follow him.
Unlike Japan, we finally force our banks to write down assets as far as they need to be written down…and then recapitalize them. This is what we should have done in the current bailout, but we’ll get it right next time we hope.
We gradually begin a long-term economic recovery, one in which consumers save a greater percentage of income, thrift and saving again become admirable qualities, we gradually begins to wean itself off international oil, and the bacchanalian decades of the 1990s and 2000s become an embarrassing memory.
The stock market finally begins a new, long-term bull market, in which stocks once again return 10%+ per year. Unfortunately, most Americans will be so sickened by the stock losses they’ve sustained since 2000 that they’ll miss many years of it.
The same thing you always get with voodoo economics …… Nothing Good.
As people struggle to pay their mortgages and provide basic needs for their families, they will not be buying automobiles at the rate they did last year. Whether or not the credit supply is opened up a bit will not increase automobile sales, people need to be able to afford financing another vehicle. A bailout of the financial institutions will not solve this problem. If you can not afford to buy a BMW, buy a Kia. Auto sales down.Bad news! This is great News, those 20th century dinosaurs need to be recycled. Recycled into green energy mass transit systems. Preventing idiots from going into debt to purchase gas guzzling road hogs will save oil that we have to import from dangerous countries, improve global warming, and improve the chances of turning to clean renewable energy.
Don’t forget the Winners! Not the rich, they always win no matter what, but ordinary middle class people who will benefit from the collapse.
Liquor and Bars
Those that don’t go to church, will try and drink their misery away, as a hopeless situation leads to the solace of the bottle. Defeated husbands will hide from angry wives, in countless dive bars across America, and the globe.
In short;The catalyst for the rescue operations was paralysis in the credit markets. Some companies have had trouble borrowing in the commercial-paper market to finance their short-term cash needs. Should conditions continue to worsen, it’s plausible that some employers will find they can’t meet their payrolls. When workers don’t get their paychecks, will that be enough to shock them into recognizing we face a crisis? It’s a bitter pill to swallow, but it’s the cyanide of Republican greed: we’re all interconnected in this economy and their downfall will bring the rest of us with them.
Manong Cocoy,
I am anticipating economic crisis in the Philippines in the years to come as the result of the financial debacles of well established financial corporations in the U.S. Our President on the other hand expresses confidence that we are readt and will only experience minimal effect on this.
Kaya ipag-paliban ko muna ang aking panliligaw kay College girl kahit malaki pa ang crush sa akin ni Lady Untouchable, hehe. Baka yayain pa akong magpakasal ni Mer, hahahayyy.
This bill does not effectively address the issue of what the American taxpayers will actually own after they invest hundreds of billions of dollars in toxic assets. This bill does not effectively address the issue of oversight because the oversight board members have all been hand picked by the Bush administration. This bill does not effectively deal with the issue of foreclosures and addressing that very serious issue, which is impacting millions of low- and moderate-income Americans in the aggressive, effective way that we should be. This bill does not effectively deal with the issue of executive compensation and golden parachutes. Under this bill, the CEOs and the Wall Street insiders will still, with a little bit of imagination, continue to make out like bandits.
We could surmise that he emergency legislation could have many loopholes considering that they’re running against time to legislate it. As I understand, the US Treasury requested for an amalgam plan which is a deviation from capital infusion programme in which the government invests and stabilises weakened banks and profits from the economy’s eventual improvement. The capital infusion approach will cost tax payers less in future years, and may even make money for them.
With the rampaging economic turmoil, we could understand that the finance managers are in quandary and did not have a plan ready to present to Washington and US Congress that is why it had to ask for total discretion in spending the money. But the general idea was to bring relief to the banking system by relieving banks of their toxic securities and parking them in a government-owned fund so that they would not be dumped on the market at distressed prices. With the value of their investments stabilised, banks would then be able to raise equity capital.
It is a bitter pill to swallow, especially for Americans because this is the first time since 9/11 that their internal feeling of being on the international pedestal is dissipating. It’s not a crisis in the making – it’s already a crisis. Thank God the US can at least loan AIG some help.
If scenarios play out, some unrescuable banks will soon be dumped, employers will soon re-evaluate their human resources, and for US the key words will be “slow crash”.
But let’s see if US can still deal out fullhouse cards at this point.
This Bailout Package will do nothing to help the market, it will only add to the disaster. It’s fundamentally flawed and needs to be scrapped entirely. And a new plan that’s not “trickle-down” needs to be drawn up by economist, not politicians and Wall Street executives, in very short order.
The bailout package was fraught with difficulties.
The toxic securities in question are not homogenous and in any auction process the sellers are liable to dump the dregs on to the government fund. Moreover, the scheme addresses only one half of the underlying problem – the lack of credit availability. It does very little to enable house owners to meet their mortgage obligations and it does not address the foreclosure problem. With house prices not yet at the bottom, if the government bids up the price of mortgage backed securities, the taxpayers are liable to loose; but if the government does not pay up, the banking system does not experience much relief and cannot attract equity capital from the private sector.
Since this unprecendented piece of legislation was conceived and package in a hurry with the present presidential protagonists are present, it is liable to arouse a negative response from America’s creditors. They would see it as an attempt to inflate away the debt. The dollar is liable to come under renewed pressure and the government will have to pay more for its debt, especially at the long end. These adverse consequences could be mitigated by using taxpayers’ funds more effectively.
Bloggers are all agog and have mixed opinion but we noticed that they are standing on a common ground. This bailout thing is a mere paliative and things will not get better whether it’s Obama or McCain at the helm of the government after Bush.
Pareng Joeseg,
When my cousin first arrived in America,he was impressed about Filipinos living in a very expensive houses and a nice car park in enclosed garage.I told him,” Yes they have a nice house but they don’t welcome visitors.They are content with a can of sardines at dinner and boiled eggs for breakfast because mortgage alone eats up all their incomes.”
Now, they want bailout with taxpayers money? Before the taxpayers are asked to hand over a huge sum of money to be spent with little oversight, I would like to see those who caused this crisis to contribute first.
We cannot let the traders and CEOs of Wallstreet pocket billions in salaries and bonuses, while asking the very same people these “financial wizards” have harmed with their risky practices give up their hard-earned money to sustain the lifestyle of the super-wealthy.
If money is needed to support the economy, then we should ask those that created this crisis to contribute first. The super-wealthy need to return a large portion of their wealth, before the taxpayer will make up any difference. It is now very obvious that the traders and CEOs never deserved their bonuses and obscenely high salaries. Asking them to return the money they unjustly received will accomplish two things: 1) It will save the taxpayer a huge amount of money and 2) it will make any future CEO and trader proceed with a healthy amount of caution and common sense.
And if we really are going to give money to the rich, let’s at least follow the rules we demand other countries adopt when the International Monetary Fund bails them out: slash spending, balance budgets and eliminate trade restrictions and subsidies. We also sometimes force them to come here and clean our houses, do our gardening and watch our kids. I foresee a not-too-distant future when Chinese guys complain about how every time their cheap cell phone breaks, they can’t understand the tech-support guy because his Mandarin has a thick accent.
PareCoy
A columnist blurred out the bailout package is the Biggest Robbery in US history.
And I further quote: “Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.”
Cocoy,
I agree, this bailout package is a bitter pill to swallow but I guess it’s the easiest way to rescue the US economy while they are looking for a more stable solution to the economic crisis.
Still, I’m very optimistic that we won’t go the extreme of start “learning fluent Mandarin minus the thick accent”. heheh! Ikaw talaga.
koyah:
i’ll take a diffent look of all the looks: I see dead rats, foreclosed houses, dying corporations and rest in peace investment certificates.
but i know i will be happy
because i see a lot of cute wall street guys on the unemployment lines…. now, they are the ones who needs my lovely kalinga. some mudra’s love. masaya ako. hehehehe
pero letche pa rin sila! pohtah! this $700 billion has now just balooned to $810 billion shit that we the peypul of the united states is gonna sheeer.
yong pambili naten nang wheelchair, pang ispalto nang kalsada, pambili nang tirador is gone. siguro welcome taliban na.
tama ung sinabi ni numero DIEZ! punyeta, bineyl-out nang mga pohtah ang mga ulol na manlolokong mga fly by night leche bananang mortgage companies na tumipak nang leche lecheng points at mga ARMs na refinance! nakalbre taz mga taxes namen ang pambayad! hayup talagaaaa!!!!
Mahal na reyna,
Tuwang-tuwang ang isang kababayan ko ng nabalitaan niya na na bailout ng senado.Ayun sa kuwento ng kapitbahay niya sa akin ay naglulundag siya sa tuwa at pumapalakpak pa pati paa,dahil ang pagkakaintindi niya ay burado na raw ang monthly hulog niya sa bahay na mahigit pang 20 years babayaran.Tatlong beses na niyang ipina refinance. Isasalba raw siya ng USA at pati mga ibang utang niya sa credit card.Makakabili na raw siya ng dream car niya.Ano siya? Sinusuwerte! Hehehehe!
Pareng Joeseg
I just got home few minutes and this is what I my sensor picked-up from some Old Boy Scout tortured by Japs in the jungle of Capas.They love to talk about politics.Forget the Equity Bills for now,they are living on SSI.
According to him he was Mc Arthur war planner.Oh! Yeah the coffee was too strong or maybe the creamer was tainted with melamine. He told me:
The Chinese Central Bank was an important player in the U.S. financial crisis right from the beginning.
The Chinese didn’t only jump in with U.S. financial investor Blackstone, which since has lost much of its previous value, but also with Morgan Stanley.The Chinese had put 376 billion dollars into Freddie and Fannie duo, it became abruptly apparent to Chinese creditors that both were on the rocks.
Here’s the funny one:At the opening of the Olympic games when President George W. Bush met with leaders of the Chinese government, the Chinese didn”t beat around the bush for very long. The liabilities were to be taken over by the state, they demanded…it wasn”t just the heat during the ceremonies that was causing George W. Bush to perspire….If you don”t pay it back, we”ll have to convert our dollar holdings to Euros…And who will be willing to loan you any money in the future if we won”t? If you don’t pay,we will poison your babies and people with melamine. GWB turn around and stuck his middle finger on his ass.
Cocoy,
Napansin ko lang, bakit nga ba mga mansion ang bahay ng mga pinoy diyan sa CA, at ang mga sasakyan ay mga super expensive?
Ang CA ang isa sa mga estado na may pinakamalaking foreclosures. Baka maraming makitira sa iyo? heheh!
Chi,
California is Pasiklaban states ng mga Pinoy.
Hindi ako nakikipagkapitbahay sa mga Pinoy dahil ayaw ko silang maging kaaway.Nandito ako sa lugar ng mga Japanese at puti kahit murahin ko sila ng Putragis,Punyakules,walanghiya ay hindi naman nila ako naiintindihan.Kaya ang mga Pinoy na mga kaibigan at kakilala,kababayan ko kapag binibisita ko sila mainit ang pagtangap nila sa akin at ako ang bida dahil bihira nila akong makita.
Banong,
Kung sino ang matimbang sa puso mo ay iyun ang mamahalin mo.May balak ka pa yatang magpa convert ng Muslim para lahat sila ay mapasaiyo.Isa-isa lang.Marami rin ang nag-aabang na mga lalaki sa kanila.Hehehehe!
The government, it comes in handy in times of crisis, but somehow we just keep misplacing it. And now, with our economy teetering, we’re frantically searching for it again, finally hauling it out from the basement along with some dried-out duct tape and leaky batteries. But after all those years on the shelf, don’t be too surprised if it’s a little rusty.
Knowing the vast majority of Americans are against this bill, passage of it will amount to Taxation without representation. Isn’t that still a fundamental principle in America??
The bubbles burst started with the deregulated interest rates for housing loans which allowed mortgage rates to keep rising while the US middle and lower class wages did not keep up, causing homeowners to default and lose their homes. While bankers bought legislative favors with campaign contributions to politicians to protect their businesses and continue amassing gargantuan profits for their gargantuan greeds, the little people (they also have that in the US of A) were helpless, no visible help was made if any. Now with the crisis in full force the US politicians are again helping the bankers by coming out with this $700 billion rescue package and the people who lost their homes, plainly lost their homes. There might be some relief for them momentarily, but the bankers have not lose their homes and now with overflowing and reinforced capital to earn more profits.
Mukhang sinusumpa ang Amerika. Hurricane, Tornado, Sunog, Baha, Lindol, Krisis sa Pera…isang Karma yata ito sa kanilang maraming taon na pang-aapi sa ibang bansa lalo na ang mga maliliit at mahihina. Simula nang giyera sa Iraq, lahat na ng kamalasan ay dumating sa Amerika.
Alam mo Artsee, wala namang masyadong nararamdamang economic crisis dito sa America.Tuloy tuloy pa rin ang buhay at tuloy-tuloy ang trabaho.Bumaba na nga ang halaga ng gasolina.
Ang may crisis lang sa buhay, ang mga tao na dalawa,tatlo o apat ng nag-refinance ng bahay.Kung ang nabili nilang bahay ay fixed mortgage at hindi na ipina refinance walang problema.Kung hindi nila pinaabot sa max ang mga credit card nila ay wala silang problema.Luho at yabang kasi ang inuuna ng mga tao.Ang mahihirap ay hindi naman sila apektado dahil wala silang mortgage sa bahay.
Pinapalaki lang nila iyang economic crisis.Wala naman akong nararamdaman.Tuloy-tuloy pa rin ang dating ng pension ko.Tuloy-tuloy pa rin ang pagtangap ni kumander ng pay-check at kung ano ang ibinabayad ko sa bahay noong kopong-kopong ay ganon pa rin hanga ngayon.
Kung hindi sana sila mahilig mag casino sa vegas sana wala silang problema.Ngayon tataas ang tax namin para sa bailout na iyan dahil sa kapritsoso nila sa buhay at kumuha ng second,third.fourth refinancing.Hindi naman tama iyan.
Kung wala sanang nag refinancing,wala kita ang mga lenders at hindi aabot sa ganito.
economy is stable.Money is not circulating.No more to recirculate because those thieves in Wall Street, Banks, Lenders institution keep it all in there safe and hiding somewhere.
My only suggestion,wipe out all the present currency {the dollars} and print another billions and billion.American people will be much more happy if my picture in a dollar bill rather than Washington.
I’m not off topic here because above, PareCoy says: “Don’t forget the Winners! Not the rich, they always win no matter what, but ordinary middle class people who will benefit from the collapse.”
Yes, it’s true. There are some people who might just benefit from the current turmoil in the financial markets. One probably won’t surprise: lawyers. The other might: sex workers.
I stumbled upon an article saying that economic downturns can be boom times for high-end sex workers. In good times, Wall Street people are their prized clients but bad times seem not so bad either. The CEOS, bankers and stock brokers are lost souls in the financial crisis and they need some respite Men want to be men and a visit to who could offer make them feel like they are still on top of the world and could go back out there is all they want to hear, rather go home and face their nagging wives or commit suicide.
It’s reported that sex workers have seen their takes double in recent days. I haven’t read yet about the lawyers.
Yehey, uunahan ko na kayo. Nandiyan na si Colegiala. Akala ko patay na siya sa puso ko. Nabailout lang siya ng 700Billion dollars na aking pagmamahal.
Manong Cocoy, dalawa na lang ngayon ang pinagpipilian ko, iyong teacher or nurse. Kung wala akong mapili sa kanila sasama na lang ako kay Binoy at pakakasalan ko silang dalawa, hahahahayyy. Pinasasaya ko lang kayo. LOL to all of you specially to Mer the contempt of my heart.
Yak, nandito na naman ang surot. Hanggang dito ba naman sinusundan mo ako? Salawahan ka talaga, sino ba talaga ang mahal mo. May Segundina ka na, may Yhen pa, tapos kay Kimuchi nagpaparamdam ka pa.
Dapat sa matandang kabayo ay dayami ang hinahanap hindi sariwang damo.
A bailout is an emergency system save, designed to prevent a catastrophic freeze. But after hitting save, it’s time for the United States to do a complete system reset. Jail the thieves.
Tito Cocoy,
I am back, and medyo nawala na ang aking antok sa magdamag na pangungulit ng mga pasyente. But this Banong is making salubong me with his kapreskohan again.
This one is related to your post. Tumawag ang aking lola at nagkuwento sa mga pinsan namin sa tate na nagbabalak nang bumili ng bahay at iwan na ang mga magulang. Pero nang nagkaroon ng problema itong mga financial institutions ng US, nagbago ang isip nila. Makikititira pa rin sa mga magulang pansamantala. Natuwa naman ang lola, at least one big happy family still pa rin daw sila, hehehe.
Haha! Jail the Thieves.We don’t have a problem with arresting the individuals, seizing their assets and throwing that money in the pot, arrest these people and seize their assets.We would do the same with terrorists. These guys have arguably done more financial harm than the 9/11 terrorists.
Hey,Kimosabe,do you have a guts to arrest these crooks? I will tell you, the American people are angry and frustrated.
I don’t! my balls still growing.My grandpa can.He was a medal of valor awardee,he was wounded during the war from a mosquito bites.My dad is a coward.He did not volunteered for service during vietnam war although he showed me a picture of his vietnamese girlfriend and telling me that she’s my step mom.How about you pokemon? Is your dad a brave man? Or you grandpa hide in a closet during the second world war?
kimosabe.Are you talking about my grandpa?He is the one who made the entire Japanese army to surrender.My Dad is a very very brave man.He chased a lot of woman but he is afraid of my mom though.I go to bed now before my dad and mom arrive.
College girl,
Masyado kang selosa. Anong magagawa ko kung hinahabol ng mga beauties ang kapogihan ko. Pero I am dead serious to you. At saka alam nang lahat na love mo ako dahil you always make me as the leading man in all your stories. Bakit hindi si Kap, si Mang Cocoy, si Mang Joe, at Mang Greg ang gagawin mong leading man. That means you have me in your heart but the question is that you are only restraining your feelings towards me. Think of it girl coz I am waiting.
Hahahahahaha. Tongressman Banong magkape ka muna sa Barangay Hall. You might be dreaming to much, ikaw kasi hindi ka mahilig maligo.
I am just mad, nagkamali-mali na ako sa spelling. Puwedi ba ibalik na lang si Banong sa kanyang bahay sa 9 de Pebrero ng Mandaluyong.
Latin America is worried about the financial crisis in America. I will be surprised if they don’t in the Philippines. Ecuador for instance, where 15% of its population fled to the U.S. and Europe looking for better lives are now worried about t he possible loss of duty-free export markets for its coffee, fish and flowers. Ecuadorians are also worried the crisis will cut into the $2 billion in annual remittances or relatives living in the U.S. In our case, many of our kababayan with relatives in the US who receive monthly support from them have reason also to worry on the possible reduction of their monthly remittances.
Ano ang gagawin natin kung may imbak tayong mga gatas at candies na Kontaminado ng melamine galing ng China. Ang sabi ng labandera, ipapakain niya sa batugan niyan asawa para mamahinga. May nagsabi na naman na ipainum sa mga bank officials na naging dahilan ng financial crisis ng America. Pero itong si Secondlady ay ibibigay na lang daw niya kay Congressman Banong out of love, hehehe.
The bitter pill costing $700 billion is really hard to swallow but as I posted earlier, it’s a mere palliative to forestall the domino effect with us seeing stocks falling down one after another in many parts of the world as a consequence of the collapse putting a hard dent on the once the most powerful nation. But as Pareng Cocoy would like to say @26, it’s not the end of the world for America, people are still going their usual ways.
And just like in the Philippines, inspite of the bad pictures being painted by those who only see the negative side, life must go on.
Back to the bailout, legislators should have restored and strengthen the provisions stripped from the original bill, providing new protections for homeowners and new protections against speculators and predatory executives. Rescuing the families who face foreclosure is just as urgent in economic terms as saving the financial institutions — in fact, they are obviously complementary — and is also preferable both morally and politically.
In this regard, our own congressional leaders and economic managers in the Philippines should take the cue from what transpired at the Wall Street. Procrastination will be avoided if at this early, things are attended to thwart similar economic downturn. If it’s true we have somebody with a ph.d in economics lording it over in the palace by the Pasig river, they should be racking their brains now for the right moves to make and avoid the bitter pill even if it’s made up of home grown ampalaya.
Hehehehe!
Sige Banong,tira-tira lang,pero isa-isahin mo lang baka sumpungin ka ng askma. Biru-biruan,tuloy ligawan hanggang magkatuluyan at white rabbit ang sinimulan.Sana tuluyan ng kasalan para ang bunganga namin ay mamantikaan.
Ang usapan nina Boy Guapo at Jackass in blue ay talagang ganyan sila,mag bestfriend and dalawang iyan simula pa ng nasa kinder sila.Si Jackass ay si JR ko.
I Have a Poem for Banong.
I thought that I could love no other
Until, that is, I met your brother.
My darling, my lover, my beautiful wife:
Marrying you really screwed up my life.
I see your face when I am dreaming.
That’s why I always wake up screaming
Roses are red, violets are blue, sugar is sweet, and so are you.
But the roses are wilting, violets are dead, sugar bowl’s empty and so is your head.
Oh loving beauty you float with grace
If only you could hide your face.
Kind, intelligent, loving and hot;
This describes everything you are not.
I want to feel your sweet embrace
But don’t take that paper bag off of your face.
I love your smile, your face, and your eyes –
Damn, I’m good at telling lies!
My love, you take my breath away.
What have you stepped in to smell this way?
My feelings for you no words can tell,
Except for maybe “go to hell”
What inspired this amorous rhyme?
Two parts vodka, one part lime
Kimuchi
Nice inspirational poem you got there for Banong. But while we’re enjoying the contents of the poem especially that portion that your damn good in telling lies, isingit ko lang itong latest about the latest on the bailout which the American public has been following closely.
The House of Representatives has started a roll call vote on historic legislation providing US$700 billion in government money to bring stability to reeling financial markets.
Member after member went to the well of the chamber to voice discomfort and displeasure with many aspects of the bailout legislation. But they also said said they would vote for it anyway. And nearly 30 who voted against it on Monday said they had changed their minds.
President George W. Bush is ready to sign it into law.
The Dow Jones industrial average on Wall Street was up in early trading in anticipation of the vote.
House Speaker Nancy Pelosi called it a vote for “Mr. and Mrs. Jones on Main Street.”
Read many of your comments on Ellen and for some reason your reasoning, articulation, or pitch-ins are aligned with my
mentality. Your descriptions also of the many filipinos in California are downright true, but I may add, those attitudes are all over the US. Other than Hawaii, can’t recall
having a filipino neighbor having lived in the Golden State for over 22 years and 10 years where I am now. It does have it’s plus to stay away from our own people and not be condescending about it. Friends and relatives knows me, and are always welcome to stay with us if they have no place to stay. I’m even open to you and your family.
That picture on your blog layout, is that the freeway going to Lancaster, Interstate 5, and ventura freeway??
Cheers to you and goodhealth.
A follow up report on the rescue package.
With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush who quickly signed it.
The final vote, 263-171 in the House, capped two weeks of tumult in Congress and on Wall Street, punctuated by daily warnings that the country confronted the gravest economic crisis since the Great Depression if lawmakers failed to act. There were 58 more votes for the measure than an earlier version that failed on Monday.
Wall Street welcomed the action, but investors also were buffeted by a bad report on the job market. The Labor Department said employers slashed 159,000 jobs in September, the largest cut in five years and further evidence of a sinking economy.
TruBlue
In behalf of Cocoy’s Delight, welcome aboard!
If I may answer your query on the freeway as pictured above, believe it or not, it’s in the Philippines! The blog owner is from Zambales and he took this picture of the freeway traversing towards Olongapo City.
natutuwa ako at masigla ang balitaktakan dito at iba-iba ang pinag-uusapan. mula doon sa kabilang blog, naisipan kung mag-usisa dito. nagulat ako dahil mas marami na ang lumalahok sa usapan dito. siguro kaya numinipis na ang tao doon sa blog sa kabila, lumipat na ang mga tao sa MLQ3 at saka dito na rin pumupunta.
with regards to the topic at hand, it IS really a hard pill to swallow. but like it or not, it has to be done to stabilize for NOW the US economy and in turn the world economy. true, the common folks in america haven’t felt the impact yet. most people don’t react until they’re personally affected. but let’s take AIG as an example. if you work for or have business with AIG, wouldn’t you be concerned? sure you would. Ang problema kasi parang ginawang 5-6 ang pagpapautang. minsan, walang downpayment ang pagbili ng bahay. kaso damay tayo dyan. it’s like we’re in a boat with this greedy guys. binutas ang bangka, sa atin humingi ng tulong. kung hindi naman tayo tutulong, lulubog tayo pare-pareho.
True Blue
welcome kaibigan kahit naunahan ako ni pareng Joeseg.Katulad mo fans din ako ni Pareng Cocoy.Kung may noranians.Dito ay cocoyan sa ugay ng duyan.
Tama ang sinabi mo.Pareng Cocoy knows what he is talking about.He can talk the talk and walk the walk at marami akong napupulot na magaganda at makabuhuluhang lesson ng mga politics,history at iba pa sa kanya at sa mga lahat ng mga bloggers dito lalo na kay Pareng Joeseg.Matinik ang karahong iyan at sabi ni Pareng Cocoy naging proffesor daw niya.Tama ba ako Pareng Joeseg?
Nasa California ka rin ba kaibigang True Blue? Sa Bluebird ako bumibili ng tiket sa lotto dahil marami daw ang tumama na doon bumili ng tiket.Pilahan ang mga nag-aambisyong maging milyonario.Sa may Hawtorne sa Lawndale.
sana palagi kang nandito.Masarap ang kapeng barako na galing ng Batangas at mangga na galing ng Zambales.Doon naman sa amin sa Pangasinan ay asin,kailangan ang asin para sa manggang hilaw.
Pareng Cocoy, anak mo ba si Jackass? Langya naman pala nagmana sa iyo kung bumanat,pati na rin si Boy Guapo matindi rin.Maganda ang mga napupulot nilang mga lesson sa iyo.Bumilib nga ako kay jackass mo matindi ang inglish.
Kumander Pipi ang tinatawag na Golden State ay California.From San Francisco to San Diego.Huli ka! siguro malapit ka lang sa Carson.Kung may time ka magkita tayo sa may Seafood City at ililibre kita ng ensimada at kape sa may Blue Ribbon pero ililibre mo ako ng batchoy,mami,siopao bola-bola sa Chowking.
Gusto akong purmahan at balak ligawan ni Banong dahil binabasted daw siya ng mga kumare ko.May balak pa ngayon si Colegiala girl na lasunin siya ng white rabbit.
Inunahan ko na ang balak niya.Sana mabasa niya ang poem ko.HIHIHIHIHIH>
Ay nakalimutan ko si True Blue at Dinapinoy na batiin.Baka sabihin nila na snub ang beauty ko.Welcome nga pala.May libre kayong dalawa ng kiss sa akin.
Cocoy, junior mo pala si Jackass at pinagsabihan si artsee ng kiss my ass.Sana sa akin na lang sinabi ni jr mo na kiss my ass.HIHIHIHIHIHIH>
in connection to this bailout, binabalka ng state of california na umutang (humiram) sa US government ng halagang $7 billion to pay salaries and routine bills…..
http://www.latimes.com/business/la-fi-calif4-2008oct04,0,6513194.story
…binabalak ng state of california…
Eto ngayon ang TANONG: Sino ang mag-bi-beyl-out sa CALIFORNIA! HAHAHAHA
PAUTANGIN MO NA COCOY!
LECHE! WALA NANG PERA ANG ESTADOS PURDOS
Sino ba itong Dina Pinoy? Dina ang pangalan at Pinoy ang apelyido? Corny na, baduy pa !
Hey…waddya expect reyna elena when half of America thinks Mussolini is a Disneyland character.
Holla! Americans,they have NO debt, meaning they are not indebted on an individual dimension, and USA has got one hundred billion in its coffer.
Now,defaulted americans can thank congressman Humpty Dumpty announced he’d voted against the bill the first time but for it the second time, because it was the right thing to do after Bush and the big fat guy in congress twisted there arms.
Have a party gringos what you just saw was democracy (the majority vote of crooked politicians and their business partners) trump a representative republic.
Cocoy, napapansin kong may mga bago tayong customers at bisita dito na hindi dumaan sa screening committee na ako ang Chairman. Labag ito sa ating Constitution. Pero basta may pirma mo, okay na sa akin.
Kimuchi, maraming salamat sa pagbati mo.
Artsee,
Okey lang iyan dahil nasa stage na tayo ng franchising.Hindi lang tubo lugaw ang kinita ng puhunan natin dito,kundi champurado pa.Kita mo ng dahil sa franchising may kinukursunada kang naka short na maputi ang hita,pareho na kayo ni Banong. Palagay ko “Hawak Kamay” na team song ninyo. Hehehe!
TrueBlue
Welcome to the combined brilliant minds and place to build friendships, the “Intellectual Mind of Bloggers.” This site is a great place to gossip,jokes,politics, grow personally,twist your mind,and most of all we enjoy a rich cultures and history of our country and anywhere in the world.
Thank you and we are looking forward for you to be a part of our company.
PareCoy
I have been reading blogs on the requested California bailout. While we’re bombarded here sometime ago of negative comments as to the state of mind of Filipinos coming from Pinoy or exPinoy, commenters at the California blogs are no better than most of us at CD noticeably their horrible spelling. But one thing, they are not criticizing each other or downgrading a commenter for his poor English.
Pero marami akong napulot na pun lines, like:
“It’s time for the terminator to be terminated”;
“California, you have been terminated”;
“The Governator just needs to call up some Hollwywood execs for a stimulus package. Last time I checked, WB was grossing nearly $1B for Batman”;
“Hey, maybe Buffett could buy California!”;
“It’s all the girlie democrat legislators fault…”
DinaPinoy,
Binati na kita doon sa ibang thread.Kung hindi mo nabasa.
Babatiin kita uli.Welcome and thank you very much for your enlightening and marvelous comment.Feel at home at may libre ka pang masahe kay Kimuchi. Siya ang GRO dito.Pasyalan mo ang Barangay Kidlatang naka display doon ang panty niya sa session hall ni Kapitan.Sumasideline din iyan na surgical nurse ni doc.bobonyo kapag nagtutuli sila ng libre sa mga bata at matatanda.Kabarkada niyan sina Colegiala Girl,Mer,Secondlay at Yhen.Umaabot ng Calauag nag swiswimming sa beach resort ni Padi-Joe.Hehehehe!
It’s all the girlie democrat legislators fault.Hehehehe!
Linya ni Arnie iyan.Marami ng galit sa kanya.Lalo na iyung mga injured employee under workers comp.Hindi sila gumagaling dahil 24 months maximum limit ang pagpapagamot nila.Kapag hindi gumaling sa loob ng dalawang taon,Sorry ka na lang.Pagamot ka ng sarili mong gastos.
Manong Cocoy nakabalik na ako.Ayaw ko na sanang bumalik dahil nalaman ko na nakakulong na daw ang lahat ng tao dito sa United Purdos ni Reyna Elena dahil hindi sila nakakabayad ng amortization nila sa bahay.Binailout na pala kaya wala na akong utang sa iyo at sa bangko dahil binayaran na ni Congressman Humpty Dumpy ang mga utang ko.
Kaya ipinambili ko ng Boy Bawang pasalubong ko kay Kuya Joeseg,,Mang Greg,Kapitan Kidlat,Doc.Bobonyo at sympre sa aking Leading Lady na si College Girl,Kay kimuchi panty ang binili ko sa divisoria kaya lang ayaw labhan ni misis ko,ibigay ko na raw at masaya siya dahil tested positive sa melamine.Kay Yhen rosario at stampita binili ko sa harapan ng Quiapo church kaya lang nalanta ang sampaguita na ireregalo ko kay Ate Chi at Segundina.Sinturon naman ang binili ko para kay kumander Pipi dahil masyadong matigas ang sinturon na ginagamit niyang pamalo sa puwit ko.Ito hindi masakit kahit paluin niya ako araw-araw dahil made in china.
Natunaw ang magnolia ice cream na pasalubong ko kay Artsee mahirap maghanap ng dry ice sa probinsya,pero may dalawang supot akong white rabbit na dala tig-isa na lang sila ni Banong.Pinuntahan ko si Badong at babalik na raw ako uli doon sa kanya kapag malalaki na ang bunga ng mangga masyado raw akong maaga dahil bulaklak pa lang at iniisprehan pa niya ng pulidol.Kay Tongue may dala akong chicharon na gawa sa dila ng baka.
iyung padala mong sapatos sa kumpare ni FPJ na tricycle driver isinuot ng bayaw ko papuntang manila para ibigay sa kanya, at suot pa rin pabalik ng probinsya.Kung gusto raw ng kumapre ni FPJ na kunin ang sapatos ay puntahan niya sa Alaminos.
Sana pasado pa rin ako sa klase kahit marami na akong absent.
Good day sa inyong lahat. Welcome sa lahat ng mga bagong pasok na kustomer dito sa CD. Kung may panahon kaya ay mamasyal din kayo sa aming munti ngunit peaceful at malinis na Barangay Kidlatan. Ang langwahe doon ay Filipino (Tagalog), ngunit may mga trained translators kami na Barangay Tanod at Labandera para sa mga hindi makapagsalita ng wikang Filipino. May mga dalagang extension workers na tumatambay doon. Nililigawan sila ng aking sikretaryo at program/project analyst na si Banong. May entertainer na siyang nagpasikat ng aming barangay at siya ang idol at pantasya ng bayan. Kung gusto ninyong manalangin at mangumpisal, doon naman kayo sa Klinika Bobonyo, hindi lang nagtutuli ang doktor doon, nag-eeksorsays pa siya, hehehe. May nursery school naman para sa mga adults si Secondlady, dapat magdala lang kayo ng meryenda doon dahil hindi siya nagpapakape, hehehe.
May nakalimutan pala ako baka ako naman ang maging feature character sa kanyang mga fiction stories. Siya nga pala, kung gusto ninyong magbasa ng Komiks Pilipino, doon kayo sa Parlor ni Colegiala. Magingat lang kayo sa kanyang mga White Rabbit candies dahil imported lahat sa China at marami siya niyan, haha.
Mer, Kimuchi, Segundina, Yhen,
Pagpasensiyahan na lang ninyo si Banong, masyado lang malambing at mapagbiro iyan. Pero sana nga makatagpo na siya ng tunay na magmamahal sa kanya dahil apat na beses na siyang iniwan ng kanyang mga nakarelasyon, hehehe. Pagkatapos mailipat sa kanilang bank accounts ang kanyang mga naipon na pera, hahaha. Hindi naman ito ipinagkakaila ni Banong. Kaya maingat na siya ngayon, itong mga biro niya ay outlet lang iyan, di ba Bans?
Pareng Cocoy,
Saludo ako kay JB mo. Pero nag-enjoy ako ng husto sa aming balitaktakan, lumabas tuloy iyong mga inaamag na sa baul kong notes na itinuro ko pa noon kina Segundina, hahaha. Kaso na late ako sa aming session sa munisipyo para sa liga ng mga Barangay.
Pareng Joe,
Pasyal ka daw sa DAP sa Oct.5, may happenings doon, hehehe.
Sige Manong, magdedeliver muna ako ng pasalubong ko bago nila ako madatnan dito at buhusang nga mainit na kape.
Kapitan ideniliver ko na ang para sa iyo.Iniwanan ko sa harapang ng tindahan ni britney.
Kutsara
Welcome, Espana rotunda! Mabuti naman at nakabalik ka na. Tamang-tama yang Boy Bawang na dala mo, muchas gracias, paki email na lang agad para palutan.
May post pa sana ako tungkol sa $700B pero mas masarap kumain ng Boy Bawang kaya huwag na lang muna. Baka ako ang malihis sa magagandang usapan lalo na’t kararating lang ng patnubay ng Barangay Kidlatan, si Kapitan K.
Kapitan
Pasensya ka na kay {Jackass} kay Jr ko at kay Boy Guapo.Nakihalo sila sa usapan ng matatanda.Pero grabe ang talino ng mga iyan.Magkaklase sila sa high school at silang dalawa ang naglalaban sa pagiging balikturian.Medyo lamang lang ng kaunting puntos ang Jr ko sa kanya.Sinabi ko kumpare ko na huwag munang ipatuli si Boy niya para si Jr ko ang number wan.Isinabay ko na ang pagtuli kay JR sa hospital ng ipinanganak siya kaya mas matangkad pa sa akin.Water boy nila si guapo sa varsity team kaya tinawag na Boy Guapo.
Kutsara
Mabuti at dumating ka na dahil na mi miss ka na ni biyenan mo,hindi na raw siya naninigarilyo dahil hindi siya makapunta sa tindahan para bumili, nabutas daw ang helmet niya.
Manong Cocoy,
Nakaisa si JR mo. Hahaha.
Hindi naman nakakapagtaka dahil matalino ang batang iyan.Ng dinala mo nga dito sa bahay iyan ay matatanda ang mga kausap niya,nahihiya nga akong makipag-usap sa kanya baka mabitin ang english ko.Nakakaintindi siya ng tagalog,nahihirapan lang magsalita.
Ang tangkad nga niyan at talagang pogi at maluluma ang mga artista sa kanya.
Pasyal kayo dito kapag may time ka at mag camping tayo sa Mojave.Bumili ako ng petromax at camping tent.Marami akong dalang daing at mayroon para sa iyo.ikaw na lang ang pumunta dito dahil mahal pa ang gasolina.
Kutsara:
Anong sinisinturon ang pinagsasabi mo.Baka sabihin nila na masyado kitang inaapi.Pero ayos iyang regalo mo sa akin dahil sira na ang sinturon ko pinanghila ko ng kotse ng tumirik sa daan.
Nagagalak ako’t nakabalik ka ng maayos.Hayaan mo hindi na kita sisinturunin.Nalungkot din ako ng hindi kita nakasama ng matagal.
[…] utang ko sa bangko?! Gaga. Hindi. Kaya wag kang mag-jingle bells na parehas nang kin-wento ni Cocoy (Comment # 15) sa California. It’s not quite – not quite – not quite. Dahil this is da big, to be or not to […]
Hindi ako payag sa bailout. Dapat bailin. Mahirap iyong puro out na lang…dapat in naman.
[…] utang ko sa bangko?! Gaga. Hindi. Kaya wag kang mag-jingle bells na parehas nang kin-wento ni Cocoy (Comment # 15) sa California. It’s not quite – not quite – not quite. Dahil this is da big, to be or not to […]