Posted by BRIGGS:
All that happened here was death. They will be reborn with different names and everyone including all of the big foreign countries will pay up.
Briggs, you are not concerned? This is pretty bad isnt it?
The economy is gonna feel this. In the long term someone will take over the market share, but in the short term its going to be very difficult to get credit cause no one wants to take any counterparty risk right now.
The market was pretty much a disaster today.
If you've got money with WaMu you better find a new bank. I wouldn't depend on the FDIC to protect all your funds.
I have no idea what you do if you're insured by AIG...
Posted by Paladin55:
Posted by kam77:
Meanwhile, our fossil-fuel based economy hurtles headlong into the abyss as Peak Oil hits. We will be LONGING for the days of $4 a gallon in a few years.
Gosh, haven't you heard that John "Integrity" McCain and Sarah "Mavericka" Palin have the answer to your energy fears?
Drill baby drill!
Oh, and yes, Obama's solution is just grand isn't it? KEEP YOUR TIRE PRESSURE UP!
Brilliant!!!!
My GOD why didn't I think of that!?!?!
bleh....
Posted by Silverfuel:
Posted by BRIGGS:
All that happened here was death. They will be reborn with different names and everyone including all of the big foreign countries will pay up.
Briggs, you are not concerned? This is pretty bad isnt it?
Personally I can care less.
It's better to flush everything here. It would be better to see a complete crash in the market. I think it would help Obama +5 if he's plays it right.
Posted by BRIGGS:
It's better to flush everything here. It would be better to see a complete crash in the market. I think it would help Obama +5 if he's plays it right.
he better play it right. it's his only chance.
Posted by BRIGGS:
It's better to flush everything here. It would be better to see a complete crash in the market. I think it would help Obama +5 if he's plays it right.
Isn't that money out of our pocket though? is it true that wall street does not like democrat presidents?
It's funny how whenever Republicans are in office for any consideral amount of time, especially in the Presidency, the economy does very well for the people on top. Everyone makes alot of money, and then it all collapses. This is no different then Reagan.
Bush had three businesses and one baseball team into the financial gutter, and no reason to see why he wouldn't do it again as President. Republicans have always claimed to be financially more "responsible" but in the end they are just the party of greed and right now.
So go ahead and keep voting Republican cause they kill arabs, get people off welfare, save babies, or keep blacks segragated. Whatever the hot wedge issue is of the day. Instead of really focusing on the real issues that matter, and how time after time they have made the worst and costliest mistakes.
Posted by Silverfuel:
Posted by BRIGGS:
It's better to flush everything here. It would be better to see a complete crash in the market. I think it would help Obama +5 if he's plays it right.
Isn't that money out of our pocket though? is it true that wall street does not like democrat presidents?
Did well for the clinton administration. Robert Rubin spearheaded the breaking down of the Glass Steagal act which MIGHT have contributed to this mess.
Maybe it was Greenspan letting interest rates get too low in 04 and fuel the last legs of the bubble.
Don't matter whose fault it is, but the "speculative" nature of markets need to stop. We went from tech stocks right into hard asset real estate speculation funded buy sub prime. The instant gratification thing is really hard. And if you don't do it, somone else will. If a wall st company or bank provide financing someone will, and when the conservative company does not produce earnings, the stock goes down. Then you get bought out as you can't compete in the bank merger mania we experienced 7 years ago.
Posted by GKFv2:
9/11 lead to their downfall. Seriously.
Its always to convienient to blame 9-11. Its not 9-11, this is a result of a president and vice president who are selfish in thier motives. The interest of the country has taken a back seat for the interest of the republican party which is basically out for themselves at the expense of the country. No need to have gone into Iraq. Afganistan yes but why escalate matter by going into Iraq. Business regulator are clueless and don't care. Right now the worst enemy of the people is our own government. They allow business which are basically fraudulent to exist so they can reap the benefits of taxes. The Fed bank gives banks loans which in turn the banks do not spread to the people of the country. Banks are basically lending the money to foreign countries which are on the rise, inturn leaving our country stagnating in economic turmoil.
AIG just got bailed out by the Federal Govt.
Government saves AIG with $85 billion loan, takes 80 percent stake in battered insurance giant
WASHINGTON (AP) -- Another day, but not just another bailout. This one's a stunning government takeover.
In the most far-reaching intervention into the private sector ever for the Federal Reserve, the government stepped in Tuesday to rescue American International Group Inc. with an $85 billion injection of taxpayer money. Under the deal, the government will get a 79.9 percent stake in one of the world's largest insurers and the right to remove senior management.
This is huge. The Gov't will have to go more into debt - the value of the dollar will go down and gold should go way up.
