markets........

[qeuqheeg222]

how bout dem financial markets!!!!!!even greenspan,the architect of the housing bust is spelling gloom and doom...watcha think...gas prices..credit crucnh...investment banks goin under....wars we cant fund....this is a mess..

[chefmike]

Not to worry, John McSame assured us today that "the fundamentals of our economy are strong..."

[hippifried]

Not to worry, John McSame assured us today that "the fundamentals of our economy are strong..."

Think he has a clue what the fundamentals are? He's never had a job outside the government you know.

Watch. These clowns are going to try & blame the whole collapse of the investment banking & brokerage industry on the people who couldn't make the baloon payments on their houses.

[Cuchulain]

Lol. McSame said in the morning that the fundamentals of our economy are strong. Obama quickly lashed back and made a fool of him. By the afternoon, McCain modified his statement to "I was talking about the American worker, the American entrepeneur and small business when I said the fundamentals of our economy and how dare Obama denigrate the American worker?" I used to actually have some respect for McCain. It's sad to see how far he's fallen.

[Buzz]

Soon you too will feel Wall Street's pain. Have any money in a money market fund? You may not be able to get it out, or you will take a loss on what you thought was like a savings account.

Money market giant freezes redemptions

NEW YORK (MarketWatch) -- One of the first and largest money market funds has put a seven-day freeze on redemptions after the net asset value of its shares fell below $1. Primary Fund, a $62 billion fund managed by money market fund inventor The Reserve, said Tuesday afternoon that its $785 million holding of Lehman Brothers Holdings debt has been valued at zero. As of 4 p.m., the value of the fund's share is 97 cents. The Reserve said that redemption requests received before 3 p.m. Tuesday will be paid out at $1 a share.

I really question the sanity of anyone who would reelect Bush, by voting for McCain/Palin, so we can suffer through another 4 years of republican mismanagement of the country.

[qeuqheeg222]

see i think bush had greenspan rig the interest rates about 2003-2004 so that more people-middle class people could buy into the real estate boom...wages werent about to go up and the economy wasnt that strong so why not build a public sense of well being sbout the value of the real estate...remember how many times in the 2004 prez race bush was claimin how home ownership was at an all time high...now we have foreclosures at an all time high..the real estate bubble was more repug economic convolution to take yer mind off what they were really up to-robing the country blind..

[trish]

Regulation Proposal Number 1: No bank or financial institution should be allowed to get "too large to fail."

[hippifried]

Regulation Proposal Number 1: No bank or financial institution should be allowed to get "too large to fail."

Pfffft! Financial institution? They're a damn insurance company. This "too big to fail" crap is just that. We're bailing out the Brits. This whole thing is/was a ponzi scheme. They were/are underwriting (insuring) loans among & between "invesment banks" & brokerages who were playing the markets on borrowed money. In return, the "investment banks" & brokerages would give AIG & each other a favorable rating & sell their stock at artificially inflated prices. To keep the money rolling in, they'd just issue more stock. Dollars to donuts say's they're doing the same thing in London, Paris, & Hong Kong. It's collusion, & that's illegal in the US. I'm not sure about the Brits. Don't care. They're up to their eyeballs in this too, & if they don't want their own house of cards collapsing, they should do some ponying up themselves.

The US government isn't handing over $85 billion. It's a 3 month credit line issued by the federal reserve (a private consortium of large US banks) at 8.5% with an $85 billion cap, in return for an 80% equity stake & veto power over dividend payments. Gee, that sounds an awful lot like a takeover to me. If there was anything legit about AIG at all, they'd never go for those conditions. They'd file chapter 11 if there was anything to reorganize. That'd give them longer than 3 months. They need the cash infusion because they don't have any assets. Especially now that such a big portion of their partners in crime have already folded & left them holding the bag. 80% equity in the markers of the already bankrupt & a bunch of "pie in the sky" adds up to a bunch of nothing. These guys are going to siphon a bundle of cash overseas & go belly up again. Then the government (that's us, folks) are going to hand the fed an equal dollar amount + interest in T bills that our grandchildren will pay even more interest on.

I'm starting to think maybe the US should lose the federal reserve & create a central bank.

Monopolies are anathema to a free market.