|
Arrived: Recession (pg. 20)
|
View this Thread in Original format
| xenpro |
"fundamentals of the economy are strong"......lol
Someone should have forwarded the link to this thread to McCain when it was first created in JANUARY ....
shoot I forgot he wouldn't have got it cuz he doesn't know how to use a computer .... ladies and gentlemen we are officially ED |
|
|
| DJ RANN |
| quote: | Originally posted by xenpro
"fundamentals of the economy are strong"......lol
Someone should have forwarded the link to this thread to McCain when it was first created in JANUARY ....
shoot I forgot he wouldn't have got it cuz he doesn't know how to use a computer .... ladies and gentlemen we are officially ED |
But he did invent the blackberry. :haha: |
|
|
| ninetyninej |
http://money.cnn.com/2008/09/29/new...dex.htm?cnn=yes
Bailout plan rejected
House leaders scramble for support for controversial Wall Street plan.
Legislation to bail out the U.S. financial system appears near defeat on the floor of the House. More than enough members of the House had cast votes to defeat the bill, and the vote was being held open, apparently as efforts were under way to persuade people to change their vote.
The Dow reacted sharply, plummeting more than 700 points. developing story
U.S. stocks fell as the rescue of two major European banks and a takeover of Wachovia's [WB Loading... () ] bank operations by Citigroup [C 19.44 -0.71 (-3.52%) ] heightened concerns about the widening fallout from the credit crisis. Investors also worried about the effectiveness of a proposed U.S. rescue designed to stem the contagion.
NEW YORK (CNNMoney.com) -- The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it.
The next steps were not immediately clear but supporters were scrambling to put it up for another vote.
What was supposed to be a 15-minute vote stretched past the half-hour mark as leadership scrambled for support. Investors who had been counting on the rescue plan sent the Dow Jones industrial average down as much as 700 points while watching the measure come up short of the necessary support, before rebounding slightly. The key stock reading was down more than 500 points.
The measure needs 218 votes for passage. Democrats voted 141 to 94 in favor of the plan, while Republicans voted 65 to 133 against. That left the measure with 206 votes for and 227 against.
 |
|
|
| ninetyninej |
I think we may have over extended ourselves. By ourselves I mean the USA.
And the banks way over leveraged themselves, some cases 30 to 1.
Every TA should watch I.O.U.S.A.
http://money.cnn.com/2008/09/30/mag...rtune/index.htm
The $55 trillion question
The financial crisis has put a spotlight on the obscure world of credit default swaps - which trade in a vast, unregulated market that most people haven't heard of and even fewer understand. Will this be the next disaster?
By Nicholas Varchaver, senior editor and Katie Benner, writer-reporter
Last Updated: September 30, 2008: 12:28 PM ET
(Fortune Magazine) -- As Congress wrestles with another bailout bill to try to contain the financial contagion, there's a potential killer bug out there whose next movement can't be predicted: the Credit Default Swap.
In just over a decade these privately traded derivatives contracts have ballooned from nothing into a $54.6 trillion market. CDS are the fastest-growing major type of financial derivatives. More important, they've played a critical role in the unfolding financial crisis. First, by ostensibly providing "insurance" on risky mortgage bonds, they encouraged and enabled reckless behavior during the housing bubble.
  |
|
|
| groovedaddy21 |
| $55 Trillion? Good Lord isn't that like the GDP of the entire planet? |
|
|
| DJ RANN |
Trillion with a "T"?
Hmmmm.....how much is that?
 |
|
|
| diskodave |
Bernanke Speaks, Dow Falls 300 - AP
Stocks extended their declines Tuesday as enthusiasm over the Federal Reserve's latest efforts to inject frozen credit markets with a dose of much-needed confidence gave way to concerns about financial companies' balance sheets. Federal Reserve Chairman Ben Bernanke warned in a speech on the economy Tuesday that the financial crisis could extend the difficulty the economy is facing. Some traders appeared to regard his remarks as a sign that an interest rate cut could be in the offing, but that did not stanch the losses that built on Monday's huge drop. |
|
|
| |Thrax| |
Quit your jobs, get out of the financial sector now.
How many more articles can we post to make this thread look cool?
:cool: |
|
|
| diskodave |
| quote: | Originally posted by |Thrax|
Quit your jobs, get out of the financial sector now.
How many more articles can we post to make this thread look cool?
:cool: |
This thread is a good way to archive all the crap that is happening around us. It's also good to be informed. ;)
DOW down 500pts today. It seems like every day the market is down 300+ pts... extremely volatile. |
|
|
| skizzell |
| quote: | Originally posted by diskodave
This thread is a good way to archive all the crap that is happening around us. It's also good to be informed. ;) |
Isn't that what this forum is for? :) |
|
|
| |Thrax| |
Until someone deletes this thread because of a HCWD ;)
That is what zee g00gles is for.
TA, zee mod's, zey do nothing. |
|
|
| DJ RANN |
| quote: | Originally posted by diskodave
DOW down 500pts today. It seems like every day the market is down 300+ pts... |
Until Obama takes office! ;) |
|
|
|
|
