This is not cool, if anyone knows history this has happened before
http://news.yahoo.com/s/ap/20080915/ap_on_bi_ge/financial_meltdown
http://news.yahoo.com/s/ap/20080915/ap_on_bi_ge/financial_meltdown
Wall Street awakes to 2 storied firms falling
- Thread starter nylo
- Start date
ChefChiTown
The secret ingredient? MY BALLS
So, spending billions and billions and billions of our own dollars to help bail out foreign countries is a better way to handle our finances? :dunno:
What ever happened to taking care of your own first and others second? No wonder our country is on a downhill slope to Shitsville.
"Wow, we are having some serious financial difficulties honey, what should we do?"
"I KNOW!!! Let's take a bunch of money, that we can't afford to spend, and just GIVE IT AWAY FOR NO REASON!!!"
"Brilliant my dear...brilliant. What could go wrong?"
Our government is run by jackasses.
Don't worry, there's plenty of money in the US. Don't believe these un- American looking guys like Dave Walker, things are great, politically sound, and much better now than when he first said this;
Dave Walker, GAO, not saying anything very patriotic or very stupid either.
http://www.youtube.com/watch?v=KjZBOCAgR64
Another guy, that must be completely crazy!
http://www.youtube.com/watch?v=wvTbOnuBHiQ&feature=related
Just remember Enron
Also remember that the billions and billions of dollars spent overseas is future debt and some from taxes paid from middle class taxpayers, while the billions in revenue taken in by US corporations making billions off the war will in the case of Halliburton not be taxed when they move their headquarters to Dubai in the not distant future.
Why we Fight
http://freedocumentaries.org/film.php?id=93
Dave Walker, GAO, not saying anything very patriotic or very stupid either.
http://www.youtube.com/watch?v=KjZBOCAgR64
Another guy, that must be completely crazy!
http://www.youtube.com/watch?v=wvTbOnuBHiQ&feature=related
Just remember Enron
Also remember that the billions and billions of dollars spent overseas is future debt and some from taxes paid from middle class taxpayers, while the billions in revenue taken in by US corporations making billions off the war will in the case of Halliburton not be taxed when they move their headquarters to Dubai in the not distant future.
Why we Fight
http://freedocumentaries.org/film.php?id=93
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Violator79
Take a Hit, Spunker!
That is the motherfucking, 100% God's honest truth!!! I've been saying that for years. Bless you, Sir and thank you for seeing the light. :bowdown:
Yes, like a desperate person shooting up a bank, I think that's the reason so many politicians this election believe/d a stronger US, doesn't mean financially but dump more future debt into military hardware and then take what you want.
Like pirates! Arrgh!
i saw a small portion of an interview with alan greenspan and his assessment was that this sort of occurance is so rare that it will take really good(i could almost read "really lucky")management to overcome.i wonder why the economy has not been a much much stronger topic of debate in this pesidential election campaign,the whole"change change change" crap is just rhetoric aimed at feel good reaction while the economy continues to sink. greenspan suggested that it would be after the new year before the housing market even begins to stabilise.
om3ga
It's good to be the king...
Ahem
I don't recall the US Government bailing out Drexel Burnham Lambert back in 1990.......
And folks - are you asking your government to accept $613 billion of debt listed by Lehman, plus god-knows-what with Merrill Lynch and American International Group Inc.?
Very good point.
Stabilizing Fannie Mae and Freddie Mac was a good idea. But now the government should step back and let the market work it's problems out; even if things get worse before they get better.
ChefChiTown
The secret ingredient? MY BALLS
If we didn't spend billions of uncountable dollars on fixing other country's problems, we wouldn't have a problem helping our own people when they need it.
Yes, it's nice to help your friends out every once in a while, but when you can barely afford to pay your own electric bill, why pay for someone else's? That doesn't make sense to me.
World police with an empty wallet is worthless. USA's most effective power is not the military, it's US Dollar. American politicians must fuck Middle East based issues and better focus on US economy with full reason, and responsibility.
I'm hopeful for US economy but the global economy is losing the vital balance.
I'm hopeful for US economy but the global economy is losing the vital balance.
This is really just another sign of the breakdown and collapse of our economic political system.Robber barons who think only of the next quarters profits enabled by a corrupt political system.
And let me add the biggest unaccountable massive spending which I think is buying us little of value in return is our defense spending.We spend at least 1/2 trillion a year on it and where and how the money is spent cannot even be accounted for according to the Government accounting office (GAO) due to all the secrecy and such that is utilized.IKE WARNED US!
http://www.truveo.com/President-Eisenhowers-Farewell-Address/id/2060909048
And let me add the biggest unaccountable massive spending which I think is buying us little of value in return is our defense spending.We spend at least 1/2 trillion a year on it and where and how the money is spent cannot even be accounted for according to the Government accounting office (GAO) due to all the secrecy and such that is utilized.IKE WARNED US!
http://www.truveo.com/President-Eisenhowers-Farewell-Address/id/2060909048
om3ga
It's good to be the king...
Even if you'd kept your billions inside the USA, Dubya's government would have been hard-pressed to save Lehmans, since that would have been a sign that no matter how great the loss, the Fed would pick up the bill. Financial institutions would continue with dealing in exotic assets, safe in the knowledge that if it went sour, Washington would provide a safety net...
No wonder McCain & Obama are now talking of more financial accountability in Wall Street.
Meanwhile:
To help stabilise the money markets, the Bank of England and the European Central Bank pumped in £5bn and 30bn euros respectively.
(I believe that's my Bank of England, putting my hard-earned cash into fixing what was originally "another country's problem" - which has since become everyone's problem, due to the nature of the global financial system....but I digress)
Furthermore 11 of the world’s biggest banks have agreed to pool approx $70bn in a giant liquidity fund to help counter disruption in short-term funding markets.
The 11 banks are:
Bank of America
Barclays (UK)
Citigroup
Credit Suisse (Switzerland)
Deutsche Bank (Germany)
Goldman Sachs
JPMorgan Chase
Merrill Lynch (or should that be Bank of America)
Morgan Stanley
RBS (UK)
UBS (Switzerland)
All the above have pledged $7bn towards the liquidity fund, which is intended to act as a kind of self-insurance scheme.
Well, that's really what this is all about. Money, profits, power.
The Iraq war, maybe the whole war on terrorism, is nothing more than a big cash grab. But it's not about stealing oil from the Iraqis, it's about stealing money from the American tax payer. The US pumps 10 billion dollars a month into the Iraq war alone. And the vast majority of that money goes to corporations like Haliburton, Boeing, Lockheed Martin, Northrop Grumman, McDonnell Douglas, Raytheon, ALCOA, Blackwater, Conoco, and Exxon Mobil just to name a few. Hell, even UPS has contracts with the US military. There are literally hundreds of companies who reap great profits from war and are highly interested in keeping the US fighting on a perpetual basis. Here is a list of those companies: http://www.militaryindustrialcomplex.com/companies.asp
It's not about oil, or making the world a safer place by getting rid of Saddam, or spreading democracy, or stopping terrorism. Those are all just bullshit republican selling points used to dupe the American people into a war that is really just a catalyst by which corrupt politicians create a situation where they can rob the American people blind.
Iraqi civilians aren't the only victims of this bullshit war. The American taxpayer is the victim as well. Albeit in a different way. And many of them don't even realize it.
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act
A slow-motion run is already occuring and the FDIC doesn't have enough money to cover their asses if an all-out run occurs.
So who's thinking seriously about taking their money out of their current bank and either moving it into another financial medium or just holding the cash?
A slow-motion run is already occuring and the FDIC doesn't have enough money to cover their asses if an all-out run occurs.
So who's thinking seriously about taking their money out of their current bank and either moving it into another financial medium or just holding the cash?
Also bad news today to be ignored because everything is great! (I got nothing on Britney today)
Fed holds fresh AIG crisis talks
http://www.ft.com/cms/s/0/abaf3dee-...uid=e8477cc4-c820-11db-b0dc-000b5df10621.html
Fed holds fresh AIG crisis talks
http://www.ft.com/cms/s/0/abaf3dee-...uid=e8477cc4-c820-11db-b0dc-000b5df10621.html
here's the article for the post above. Forgot to link it.
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act: http://finance.yahoo.com/tech-ticke...n't-Act?tickers=LEH,MER,BAC,AIG,WM,^DJI,^GSPC
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act: http://finance.yahoo.com/tech-ticke...n't-Act?tickers=LEH,MER,BAC,AIG,WM,^DJI,^GSPC
