The coming financial crisis

Started by Butchers Bill, August 09, 2007, 05:05:33 PM

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rjs246

To Dio: Yes, Bear Sterns got lucky by being the first. Fannie and Freddie shortly followed and also got lucky. It had to end at some point though, and apparently we've reached that point.

I wanted to clarify something that I said before. Regulation is needed BEFORE THE FACT. After the fact bailouts are counterproductive and do nothing other than cultivate a consequence-free environment where any and all business practices are acceptable because cash overrules all else...
Is rjs gonna have to choke a bitch?

Let them eat bootstraps.

Rome

Merrill Lynch is actually a fairly conservative company and their loan reps never once asked me to hit a number.  I can't imagine how many of these companies are eventually going to go into the shteinter but if a great organization like Merrill goes down. . . yikes.

Seabiscuit36

Merrill will still be Merrill, you'll likely see them all staying on board since they are the best out there
"For all the civic slurs, for all the unsavory things said of the Philadelphia fans, also say this: They could teach loyalty to a dog. Their capacity for pain is without limit." -Bill Lyons

Diomedes

There is considerable overlap between the intelligence of the smartest bears and the dumbest tourists." - Yosemite Park Ranger

Seabiscuit36

Brokerage wise, they are one of the best.  Being someone who was aquired, they should feel good as they are well regarded. 
"For all the civic slurs, for all the unsavory things said of the Philadelphia fans, also say this: They could teach loyalty to a dog. Their capacity for pain is without limit." -Bill Lyons

Diomedes

Your corporate employee pride/respect thing is truly revolting.
There is considerable overlap between the intelligence of the smartest bears and the dumbest tourists." - Yosemite Park Ranger

PoopyfaceMcGee

I don't feel good about this acquisition for many reasons.

BAC can suck my pens.

Seabiscuit36

Quote from: Diomedes on September 15, 2008, 09:12:10 PM
Your corporate employee pride/respect thing is truly revolting.
ha, farg boa, i loved MBNA.  But im just saying from a standpoint of workers talent, Merrill guys will be fine.
"For all the civic slurs, for all the unsavory things said of the Philadelphia fans, also say this: They could teach loyalty to a dog. Their capacity for pain is without limit." -Bill Lyons

Phanatic

Someone on the radio today said that Fannie and Freddie being government backed is the main reason they were bailed out. Also said that the government in the late 90s mandated that they give loans to more people to encourage home ownership or something. Kind of like some social engineering gone bad and we're now paying the price. Not sure if it is true though because there are a lot of companies outside of those two that are in trouble. Also seemed like a conveniant way to blame a specific political party.
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ATV

#594
I'm not sure what the big deal is. So what if yet another financial banking goliath crumbled just a few days after the Treasury Department announced you and I would be bailing out Freddie Mac and Fannie Mae? The Repubelican candidate said "the fundamentals of our economy are strong". So there ya go. Stop your "whining".

PoopyfaceMcGee

How does it benefit anyone to say that the fundamentals of our economy aren't strong?

I suppose if the goal is to drive the market into the toilet, that would be an excellent idea.

Seabiscuit36

Wachovia down 40% in two days, falling like a brick
"For all the civic slurs, for all the unsavory things said of the Philadelphia fans, also say this: They could teach loyalty to a dog. Their capacity for pain is without limit." -Bill Lyons

fansince61

Quote from: FastFreddie on September 16, 2008, 08:01:00 AM
How does it benefit anyone to say that the fundamentals of our economy aren't strong?

I suppose if the goal is to drive the market into the toilet, that would be an excellent idea.

There seems to be a big push now to redefine economic terms to make or situation appear worse than the current "model" shows.  Moving blame toward your oppenent and setting up the "miraculous comeback" economic recovery 6-12 months after Washington regime change.  Only the taxpayers are innocent in this but thay will pay the price.  Wallstreet has been full of paper profits since the 90's using one gimmic after another to postpone these failures.  The Bush administration and both parties in Congress are almost as guilty as the Wallstreet/Banking greedy.  Using home ownership to prop up their claim to a strong economy.

No parachutes..tear up the fatcats contracts and let them try to get money in court

Be scared..panic..no one is telling the truth  >:(

Looks like there may be a firesale on million dollar homes in NJ :-\

rjs246

Too bad no one in their right mind would ever want to live in NJ.
Is rjs gonna have to choke a bitch?

Let them eat bootstraps.

ATV

QuoteHow does it benefit anyone to say that the fundamentals of our economy aren't strong?

Yea, since when did we need a government that doesn't lie to us?

QuoteI suppose if the goal is to drive the market into the toilet, that would be an excellent idea.

Yes, that's correct. Can you imagine how much worse the economy might be if Bush and McCain weren't telling us how great it was?