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FatalWishes
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There are some people that need to be made examples of for sure. Including many in the FDIC.
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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“What's being put around behind the scenes is that we're looking at 1930s stuff. We're looking at catastrophe, huge, amazing catastrophe. Everybody is extraordinarily scared. It's going to be really, really nasty.”
And WTF have we been saying since February?? I started this thread knowing it was going to get bad. Not this bad...but bad indeed. If this bailout fails...its going to be EPIC failure.
The market is going to lose 600 pts before it shuts down. That is the safeguard. They may have to do what Russia did and shut it down for a few days. We must survive next week.
Again. Failure is not an option, so I see us making it through this. To not succeed is unthinkable. Next week will be one of the defining moments in US history. Document it and save those newspapers. It will become very historical. People, you must know how close we are to being bankrupt as a nation and a country. Its much worse than you think it is.
They should take the warning labels off of everything and let stupidity sort itself out.
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Indy
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Just wait until this very problem moves over to the airline industry. We are going to be having the same conversation but in regards to domestic air travel if speculators aren't banned from the energy market. Wait and see what happens with Northwest Airlines is absorbed by Delta and you have a mega carrier.
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ghoster
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This economy is going to crater, not sure when, but these band aids are just that and not going to stop a systemic collapse. Even after patching it with mega billions they will still have a flawed system. I don't see any will to change the rules, just tweak them a bit and party on.
Nope before this is all over, there will be total collapse and some really hard times here. Survival level? Maybe not, but you can forget the Latte and Merlot parties. Things are going to get really out of hand and we only have a short time to prepare, so get yourself ready for this as best you can. No guarantees for the common man, we are disposable. But the good news? It is only temporary.
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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DanG
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Survival level? Maybe not, but you can forget the Latte and Merlot parties.
what a great line.
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MountainManMike
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i think its time to look at stocks that a freaking cold winter (and winters to come) could drive up...i hear road salt could be in shortage. |
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MountainManMike
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fatal, u recommended getting back in with things like BAC and GS and putting as much as you can in them...would u even suggest going out on margin with these? |
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Indy
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European markets look to be down about 3% today. Is that the kind of beating we can expect here in the U.S. today? Perhaps the foreign markets have no faith that this bailout will help.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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FatalWishes
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The Bailout Bill That Nobody Likes
| Quote From Source: | Wanted: someone who will claim credit for saving the U.S. economy. With little fanfare and all the enthusiasm of a hangover, congressional leaders from both parties on Sunday unveiled a detailed agreement on legislation to bail out Wall Street. But no Presidential candidates were in sight, and few in Congress were doing much bragging about their handiwork.
Yet on Sunday it was hard to find anyone willing to take credit for the agreement. "This is the Administration's problem," House Speaker Nancy Pelosi told reporters. "They sent us their bill. We did the best we can to improve it."
"This is a classic 'orphan bill,'" said Larry J. Sabato, director of the University of Virginia's Center for Politics. "A week after the vote, no one will claim parentage, and fingers will be pointed every which way. 'I held my nose and voted for it, lacking a good alternative,' will be the best anybody offers."
| | Click source url to view entire story. |
Source TIME
Source URL:
http://www.time.com/time/bus...8599,1845325,00.html?cnn=yes
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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I never buy on Margin. If I cannot afford it I don't buy it. You need a margin account to buy Calls though and I would do that for say January of next year. I would choose JPM or GS. I would certainly wait until Wednesday. I fully expect a good pounding and a good drop on the Dow and S&P. Once things look the worst I start buying. I mean things have to look bleak with no recovery hope at all. Watch the $VIX. When you see it reverse its time.
Buy at the bottom. We should hit it this week. Barring any issues with the bill. This is such new and uncharted territory. Given the article above I don't think our elected officials believe it will work either. It's like they signed something on a wing and a prayer. I'm 80% in cash right now.
There is no way Warren Buffet would have purchased 5 billion in Goldman Sachs without knowing something. Of course his strike price is $115.00 and he can buy an additional 5 billion at that price anytime. He'll probably wait until it goes over $230 a share so he can double his money in a day lol.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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| Quoting Indy - posted on 9/29/2008 at 06:04 |
European markets look to be down about 3% today. Is that the kind of beating we can expect here in the U.S. today? Perhaps the foreign markets have no faith that this bailout will help.
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Well, Futures are down. We will certainly open lower.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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1. The bail out will not solve the problem.
2. Giving more money to people who already ran themselves and their businesses into the ground will not magically change their ways . They will simply burn through the money that was given to them.
3. The only way the situation will improve in the long term, will be to let the failed buisnesses close, and the foolish homeowners lose their houses. you are not helping a drug addict by giving them money for drugs.
4. The bailout is going to attempt to buy up the bad assets, so credit can flow freely again. the problem is that the people who need the credit are the ones who caused this mess and shouldn't have recieved it in the first place.
5. Paulson himself said it was very UNLIKELY that the taxpayers would ever be able to recover the full amount spent on the bailout.
6. In the past 25 years when has anything the government took control of worked better. The government should step aside and let the free market weed out the foolish people.
7. Even if the bailout goes through it will not stop the crisis, Nothing else in the market will have changed, we simply gave alot of money to people who will waste it. Most of the housing in this country is over priced by atleast 50%. Until this is corrected the crisis will continue
8. Bailout or no bailout people will suffer in the crisis, the bailout will simply shield the people that should suffer the most.
9. I fully understand that mainstreet wil be afffected just as bad as wallstreet, but this is the only way the crisis can be solved in the long term. Let it collapse the people who made wise choices will survive. If you granted foolish loans, or signed on to loan for a house that was more then 27% of your net income, then you deserve to be homless or bankrupt.
10. Everyone knew this was coming, and now they are trying to find short term covers for themselves. The EXPERTS that are telling you we need this bailout are some the people that caused the problem, IGNORE THEM>
Posted By shane parker lincoln, illinois : September 28, 2008 7:43 pm
http://talkback.blogs.fortun...e-talkback-bailout-backlash/
This exactly how I feel.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Citigroup Agrees to Buy Wachovia's Banking Business
| Quote From Source: | Sept. 29 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank by assets, agreed to buy the banking operations of Wachovia Corp., the Charlotte, North Carolina-based lender best by mortgage losses and a 74 percent drop in market value this year.
Citigroup will absorb as much as $42 billion of losses on Wachovia's $312 billion pool of loans, the Federal Deposit Insurance Corp. said today in a statement. The FDIC will take on losses beyond that amount in exchange for $12 billion in preferred stock and warrants.
''For Wachovia's customers, today's action will ensure seamless continuity of service from their bank and full protection for all of their deposits,'' FDIC Chairman Sheila C. Bair said in the statement. ''There will be no interruption in services and bank customers should expect business as usual.''
| | Click source url to view entire story. |
Source Bloomberg
Source URL:
http://www.bloomberg.com/app...=aFjZQmUX_bZ8&refer=home
DanG;
Welcome to the Citigroup family. Should be a seemless transition and not much will change. The name will...check their website daily. It only took about a day for Washington Mutuals to change.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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DanG
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dow is droppin like a rock to start the day
http://finance.yahoo.com/q?s=%5EDJI |
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Indy
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I hope it sticks but on the first attempt to push a bailout package through the bill fails a house vote. This is the first thing our government has gotten right in many years. But I fear the trend will not continue. Much like when they imposed daylight saving time on Indiana they will keep pushing and keep pushing until they force a bailout package through. The people are going to be stuck with the Wall Street bailout whether we like it or not.
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Indy
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I haven't seen a beating like this since my momma put a banana down my pants and turned a monkey loose. lol
As of 3:20pm eastern time the DJIA is down 5.83%, the Nasdaq is down 7.65%, the S&P 500 is down 7.60% and oil is down 9.84%.
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FatalWishes
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WOW
Apparently Voices were heard that most people do not want the bailout.
Sometime this week it will be time to buy. We are getting very close. We need to be in the 9000's on the Dow and we will get there this week like I said earlier. Unless they just flat don't ever pass this bill then I would expect 8000's on the DOW to be a reality. I've not even heard any experts quote lower than that. I guess its possible. This week will be historic no matter how it ends.
If they do not pass the bill at all, ever, then things will have to change totally. I won't know what to do. There will be no direction and no guidance to follow. I guess just wait for stuff to stop dropping and stabilize and trying to guess where that will be is impossible. We could drop another 750 tomorrow or shoot up 1000.
And I don't know why they say there are safeguards to stop the market from dropping more than 600 points in a day. That is obvious BS.
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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<soapbox>
F*CK the 'dow'
if 5k is were it should be - LET IT DROP
I'm sick of the rich bitch a$$holes at the top of the pyramid
getting everything while pissing on the rest of us.
send it down the crapper and give it a courtesy flush !
</soapbox> |
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FatalWishes
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| Quoting DanG - posted on 9/29/2008 at 15:47 |
<soapbox>
F*CK the 'dow'
if 5k is were it should be - LET IT DROP
I'm sick of the rich bitch a$$holes at the top of the pyramid
getting everything while pissing on the rest of us.
send it down the crapper and give it a courtesy flush !
</soapbox>
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Don't think it matters. Most of those greedy bastards had Golden Parachutes. Only way to make this fair is throw them in jail.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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| Quoting Indy - posted on 9/29/2008 at 14:22 |
I haven't seen a beating like this since my momma put a banana down my pants and turned a monkey loose. lol
As of 3:20pm eastern time the DJIA is down 5.83%, the Nasdaq is down 7.65%, the S&P 500 is down 7.60% and oil is down 9.84%.
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Yup it got really bad today. Well looks like European banks are getting bailed out.
http://biz.yahoo.com/ap/080929/eu_europe_banking_crisis.html
They should take the warning labels off of everything and let stupidity sort itself out.
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MattN
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Wow. Looks like I'll be working until I die. I haven't checked, but I'm pretty sure my IRA lost 25% today.
This country is so fucked... |
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Indy
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There was a time I thought taking all that money that normally goes into Social Security and putting it into investment accounts was a good idea. This new crisis really reveals a bigger problem. Dumping all that money would do nothing but inflate prices. It gives the appearance of wealth creation but its nothing more than making money off of money. It is fake wealth. Nothing is being created with it.
And lets not look at this as investments that businesses need. It isn't. The only real investors are the ones that purchase from the IPO. Any transaction beyond that is meaningless. I'd also like to see a company's value minus all their share holdings. It is inflating the value of the company based on the perceived value of another company which is likely inflated because of their share holdings which are over inflated.
Lets get back to actually making something in this country besides debt.
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chrisisasavage
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That's the problem, America doesn't make much any more. The only thing we had that had a ton of value left was land, and now that's been seriously devalued. There's such a disparity between common folk and the well to do, yet the well to do continually look for more wealth. As they say, "The rich get richer and the poor get poorer". The wealthy are going to keep taking until the Average American live in shanty's outside their slave camps. |
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doppelganger
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...and history's biggest ponzi scheme finally unravels
doppelganger has attached this image:
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chrisisasavage
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I believe that's exactly what's happened here. There's no way this isn't fraud. BTW, welcome to the site. |
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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 9/27/2008 at 23:33
