quote:

Originally posted by CGRumler McCain sure does blink a lot.......

lol I just noticed it..

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As far as I'm concerned, let the EU bail away and I'll be fine watching the bad US investment banks go bankrupt or be bought by stable institutions. As the EU bails banks and devalues the Euro (down 3% against the dollar today alone) I'll take the "tough times" ahead and hopefully watch a bit of correction in the pervasive greed and over-spending that now appears to be world-wide.

quote:

Originally posted by Shakka

Hypocrite, WTF happened to not pointing fingers? I guess you're exempt from your own rules.

quote:

Originally posted by The17sss gotta agree. putting your money into CD's sounds boring... it's not flashy, but there's more than one way to make money.

unless you drop over 100k in a CD of a failed bank. You can still lose your money in a CD to the extent it is over the insured amount. If you want to be safe, buy an inflation adjusted treasury. The payments will always exceed inflation by some predetermined spread.

quote:

Originally posted by jerZ07002 unless you drop over 100k in a CD of a failed bank. You can still lose your money in a CD to the extent it is over the insured amount. If you want to be safe, buy an inflation adjusted treasury. The payments will always exceed inflation by some predetermined spread.

I'm a fan of the Roth IRA myself

quote:

Originally posted by The17sss I'm a fan of the Roth IRA myself

the Roth IRA is not an investment in-and-of-itself, it's simply a taxing scheme.

quote:

Originally posted by Q5echo you're happy that she could only deliver 60% of her own caucus to prevent Armageddon? talk about lowering standards. if this was such a great package why the hell couldn't she deliver a straight party line vote? she doesn't need a single Republican to pass this if it's as serious as she's advertized what the hell are House Republicans supposed to do with a bill that they despised a week ago anyway, prior to the clean-up of it, when she's not telling any of her own House seats to vote yes on it? who cares really what partisaned crap she said before the vote. here, listen to a simple observer's take on all this.

Oh did I say I was happy about that? Keep up with the mischaracterizations ... talk about maintaining standards.

Simply put, everyone who voted against the troubled asset relief program is either:

A) Ignorant of economics

or

B) A partisan hack willing to put politics above country

quote:

Not sure if people have been following this up much but the reserve like freed up $400 Billion or something an hour before congress rejected the deal, also Bank of England, Japan and another I'm forgetting were sending their dollars back to the American market. Essentially the banks have done what the government didn't point being --- WHY DO IT? It is just a huge scam. Notice how the market is on the upsurge again..

THIS IS NOT A WALL STREET BAILOUT. THIS IS A MAIN STREET BAILOUT. The sooner this sinks in the better. It's not about the equity markets anymore. Fuck the dow. The money markets are what you need to be worrying about. Simply put, NOBODY is lending money anymore, not even to financially healthy firms. This is fast becoming a liquidity crunch and fools are looking at temporary jumps in the dow, or their lack of stockmarket investment, as justification for not doing anything because they won't be affected. If your company has dropped the ball on cash management operations, no matter how big or small or whether you are in finance or not ... you WILL be affected.

Companies rely on short term lending to support their day to day operations ... things like making payroll. Massive companies like GM and United Airlines might roll over on their debt:

http://www.businessweek.com/bwdaily...ws+%2B+analysis

Major main street companies from all industries are coming out of the wood works complaining to congress because they are being hit hard by the liquidity crunch:

http://www.bloomberg.com/apps/news?...id=a0h7E2HwQpUk

As for central banks increasing lending, they are a lender of LAST resort and they cannot take the place of private lending. However, they are the ONLY people lending right now. As to the situation of private lending, here's a sample of how serious this shit is ...

``This is unheard of, the money markets should be the engine driving the financial system but they have broken down,'' said Kornelius Purps, a fixed-income strategist in Munich for UniCredit Markets and Investment Banking, a unit of Italy's largest lender. ``Any institution that hasn't completed its 2008 funding needs by now is going to be in very serious trouble. More banks are going to need to be bailed out.''

``The money markets have completely broken down, with no trading taking place at all,'' said Christoph Rieger, a fixed- income strategist at Dresdner Kleinwort in Frankfurt. ``There is no market any more. Central banks are the only providers of cash to the market, no-one else is lending.''

``Counterparty fear in the banking sector is at a new extreme,'' said Greg Gibbs, director of currency strategy at ABN Amro Holding Bank NV in Sydney. ``Credit conditions are as tight as a drum. Unless this settles down, central banks would need to cut rates globally to bring funding costs down.''

http://www.bloomberg.com/apps/news?...id=aAVnE01UExIc

"Financial institutions do not want to lend to each other amid doubts over counterparty risk," said BNP Paribas strategists.

"There are increasing signs that the banks prefer to hoard cash, preventing liquidity from being recycled in the broader market. Overall, financial markets remain under more stress than at any time since the start of the crisis in August 2007."

"The clear signal from the market is that these liquidity operations are not working -- the money is not getting where it needs to go," said Nick Parsons, markets strategist at nabCapital in London.
http://www.reuters.com/article/usDo...0080929?sp=true

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Retro ...

quote:

Originally posted by Shakka

Oh come now. Do your really believe that crap? I could only bear to watch the first 3 minutes before I had to turn it off. For example, I could give you the exact dates that Alt-A deals and Subprime deals were approved at Freddie (i was part of the new products approval team) and they were a latecomer to the market and they only accepted the highest tranches. Actually part of the justification to enter the market was because EVERYONE else was making a killing in it. You and I both know that if there was a market for this shit, someone would have structured the deal so don't feed us shit about GSE legislation that singularly CAUSED this shit to happen. Freddie and Fannie are not securities innovators. They just happened to be more exposed to it because that's their only line of business and therefore they have more exposure.

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Retro ...

quote:

Originally posted by occrider Oh did I say I was happy about that? Keep up with the mischaracterizations ... talk about maintaining standards.

how about satisfied? probably a little better characterization of someone who prefaces "at least" describing someone who could "at most" lead half of her own party to eat crap.

quote:

Simply put, everyone who voted against the troubled asset relief program is either: A) Ignorant of economics or B) A partisan hack willing to put politics above country

i agree thats very "simple" but WOW talk about "mischaracterization". reminicent of the hissy fit the Dow had yesterday losing 7%

FYI, these "hacks" actually work for the "ignoramouses" that voted them into office.

when these hacks fight for a better bill and subsequent passage of it this week i'm sure we'll all forget who mischaracterized whom, right?

quote:

Originally posted by Shakka

http://www.tranceaddict.com/forums/...7&forumid=66&s=

Warner music had Youtube take the original video down for copyright infrigement on the music contained within it. effed up, i know. i guess we'll be waiting for all the Dire Straights and Talking Heads related videos to follow suit? naaahhh.

Last edited by Q5echo on Oct-01-2008 at 10:19

this one is fantastic. can you feel the outrage yet? i can....oh wait, thats just me passing my footlong BMT on wheat from Subway.