More big banks failing...
Oct 7, 2008 at 10:29 PM Post #271 of 317
You are familiar with "Cycles of Democracy" written before this country was formed?
Beware of the Federal Reserve.. 2 years ago the ceased reporting M3 measure of the money supply..And began
creating easy money to borrow, backed by nothing. and reported to no-one. Thus encouraging the crisis we are now facing.
Now the Fed Reserve has changed the rules, getting equity from the bail-outs on foreclosures, while at the same time tightening the money supply except for bail outs they get a position in. Wealth is being transfered from the once middle class to the
very large international bank called the federal reserve.
 
Oct 7, 2008 at 11:17 PM Post #272 of 317
I wonder how many people realize that the Federal Reserve is as much an official part of our Federal Government as Federal Express is.

Call me a tin foil hat wearer, but this current financial crisis seems planned to me. But only it got out of control.
 
Oct 8, 2008 at 1:28 AM Post #274 of 317
Quote:

Originally Posted by JadeEast /img/forum/go_quote.gif
Some things are just too much, I really can't see how this is just.

ABC News: After Bailout, AIG Execs Head to California Resort


This kind of behavior is exactly why the bailout should never have been greenlighted.

If these idiots insist on behaving stupidly, they should face the consequences of said stupidity.
 
Oct 8, 2008 at 5:08 AM Post #276 of 317
We saw how arrogant the lehman CEO, and three AIG CEOs are. They took money, let the firm fail while they are on top of it, but they think they are not responsible. Total arrogance, no sense of responsibility. Nice, isn't it?

All people want is simple answer. People knew they are ******** up. They want to hear some solutions or some directions to move. Unfortunately, we're not hearing anything like that. None of our leaders either in politic or in economic section did accept their responsiblity, or able to show us sensible solution... except that cheezy fatcats rescue plan.

What do we find common from those CEOs and those leaders who blamed greedy fatcats? Again, the same arrogance and no sense of responsibility. Well... I should not go further from here.

It is interesting to see stock market dropping down whenever those guys in washington talk at TV. Those two guys have eliminated billions of US wealth today alone in a matter of hours (DJ 300 points down), by simply showing themselves at TV. What an extra ordinary ability that is. They should shut the heck up and stop showing themselves at TV to help the market.

Mud wrestling b/w citi and wells fargo over wachovia will resume this thirsday. It will be another incoming feature to watch. Seriously... I do not like this as a wachovia customer.
 
Oct 8, 2008 at 5:27 AM Post #277 of 317
This is a true story- I personally worked a private party for the top brass at AIG. This happened last week. After the party, I personally presented the check to one of the top executives to pay. I said to him, "thank you." He replied with boisterous laughter, "don't thank me, thank the government for this one!" All the other executives burst out in laughter too! This made me sick to my stomach. I am telling you, these guys are evil.
 
Oct 8, 2008 at 6:15 AM Post #278 of 317
Makes me ashamed of working for AIG. It doesn't surprise me one bit though, the lower tier managers in my office are mostly worthless do-nothings; I can only imagine the slime they have at the top. Welcome to corporate America.
 
Oct 8, 2008 at 7:27 AM Post #279 of 317
Disgusting behavior.

I worked for one of the credit reporting agencies this past summer and the summer before that. Some of those people in the financing firms are slimy. Money is a nasty business and it sad how much of our lives depends on banks.
 
Oct 8, 2008 at 7:39 AM Post #280 of 317
Quote:

Originally Posted by -=Germania=- /img/forum/go_quote.gif
Disgusting behavior.

I worked for one of the credit reporting agencies this past summer and the summer before that. Some of those people in the financing firms are slimy. Money is a nasty business and it sad how much of our lives depends on banks.


You will find the same kind of people in every other industries.
 
Oct 8, 2008 at 1:05 PM Post #281 of 317
Quote:

Originally Posted by Remitrom /img/forum/go_quote.gif
You are familiar with "Cycles of Democracy" written before this country was formed?
Beware of the Federal Reserve.. 2 years ago the ceased reporting M3 measure of the money supply..And began
creating easy money to borrow, backed by nothing. and reported to no-one. Thus encouraging the crisis we are now facing.
Now the Fed Reserve has changed the rules, getting equity from the bail-outs on foreclosures, while at the same time tightening the money supply except for bail outs they get a position in. Wealth is being transfered from the once middle class to the
very large international bank called the federal reserve.


Quote:

Originally Posted by Edwood /img/forum/go_quote.gif
I wonder how many people realize that the Federal Reserve is as much an official part of our Federal Government as Federal Express is.

Call me a tin foil hat wearer, but this current financial crisis seems planned to me. But only it got out of control.


Read the book called: "The Shock Doctrine: The Rise of Disaster Capitalism" by Naomi Klein. You are not far off indeed.
 
Oct 8, 2008 at 2:07 PM Post #282 of 317
Oct 8, 2008 at 9:25 PM Post #283 of 317
Quote:

Originally Posted by NiceCans /img/forum/go_quote.gif
Read the book called: "The Shock Doctrine: The Rise of Disaster Capitalism" by Naomi Klein. You are not far off indeed.


Kleins YouTube talk on the subject of her book : YouTube - The Shock Doctrine: The Rise of Disaster Capitalism

Thanks for the imput NiceCans...

And now it's being reported the Treasury is giving an additional 37.5 Billion to AIG above the initial 85 Billion bailout... I guess the CEO and upper management are back on the job after their holidays...
 
Oct 9, 2008 at 2:32 AM Post #284 of 317
To those saying that 8500 is going to be the bottom, I wouldn't be so sure.
September 3, 1929, the DJIA closed at 381.17
July 8, 1932, the DJIA closed at 41.22.
Over that 2+ year period, it lost 89.2%
In fact, the DJIA didn't recover to pre-crash levels until 1954.

With a similar drop from the high of 14164.53 on October 10, 2007, the stock market could bottom out at about 1530 on approximately August 15, 2010.
Hopefully the market and the various governments of the world learned something from the Great Depression and 8500 really is the bottom.
EDIT: Not that any of this is likely. I'd honestly be shocked if the market went below 5000.
I'd also be shocked if the market wasn't above 14164.53 within the next 5 years.
 
Oct 9, 2008 at 3:32 PM Post #285 of 317
Its getting closer, with the last days banks failing in Iceland.
Hopefully we get no large impact over here though!
tongue.gif
ray:
 
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