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  • Bohica!

    "Bend Over, Here It Comes Again!"

    Financial turmoil is really tearing up the market, I guess I just don't understand how any financial institution can set themselves up for these enormous losses when they employ the "experts" in the financial world. Fannie Mae, Freddy Mac, Merrill Lynch, AIG,who's next? After last year I didn't think my 401K could get much worse, but I've lost another 56,000+ this year...ugh! It's gettin' so bad the average guy can't afford to work on his Jeep anymore.
    Richard Syron, CEO of Freddy Mac made 18.9 million in 2007, this year he is guaranteed 8.8 million even though the company is in the tank!
    WTF!
    Last edited by NOCHEEPGAS; 09-16-2008, 10:25 PM.

  • #2
    Whats that TRICKLE I feel going DOWN my back? Bet it's not money. The ECONOMICS of this country are a sumptin.

    Comment


    • #3
      AIG was just granted up to a 85 BILLION dollar loan from the fed's. That's our money folk's. And were billion's in debt.Were bailing out the insurance scum that alyaws find a way to raise you're rates and cut you're benefits. Just deal with an insurance company and ya know what I'm talkin about. So we get 79 pecent of a failing company going straight down the tubes if they don't pay the loan back. While all the fat cats bail out with there big sacks of money before the pay back comes.

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      • #4
        Originally posted by redtail View Post
        Whats that TRICKLE I feel going DOWN my back? Bet it's not money. The ECONOMICS of this country are a sumptin.
        So true

        Comment


        • #5
          Daaaannggggggg.....

          Wow, makes me not feel bad that I have no 401k, or savings of any kind! I got nuthin to loose!

          What a pile o' stinky stuff!

          Comment


          • #6
            Originally posted by Gryphon View Post
            Daaaannggggggg.....

            Wow, makes me not feel bad that I have no 401k, or savings of any kind! I got nuthin to loose!

            What a pile o' stinky stuff!



            Glad I cashed mine out when I did. I would be pissed if I lost another $54,000.

            Comment


            • #7
              well, it does suck...but...

              Guys, read this piece on CNN:

              http://www.cnn.com/2008/LIVING/perso...man/index.html

              Suze Orman is pretty sharp.

              I'm not condoning these bailouts, but on the news this morning they said the money was 'loaned' to AIG for two years. That's not quite the same thing as 'given'...

              They are trying to avoid a really damaging global situation here. I'm with you guys on the 'fat cats' skating. Some of these b@stards need to be sitting in a jail. However, I doubt that ANY of us can personally remember the Great Depression. If what they're doing to keep Wall Street from going under will avoid a catastrophe of that magnitude in today's world I'm willing to wait and see what happens.

              As far as 'trickle down' economics goes, well...We've sat by as American taxpayers and allowed a 9 TRILLION dollar investment in a worse scenario than a failed bank. Do some studying and try to gain perspective on the difference between a billion and a trillion.

              Comment


              • #8
                Originally posted by blackwater View Post
                Guys, read this piece on CNN:

                http://www.cnn.com/2008/LIVING/perso...man/index.html

                Suze Orman is pretty sharp.

                I'm not condoning these bailouts, but on the news this morning they said the money was 'loaned' to AIG for two years. That's not quite the same thing as 'given'...

                They are trying to avoid a really damaging global situation here. I'm with you guys on the 'fat cats' skating. Some of these b@stards need to be sitting in a jail. However, I doubt that ANY of us can personally remember the Great Depression. If what they're doing to keep Wall Street from going under will avoid a catastrophe of that magnitude in today's world I'm willing to wait and see what happens.

                As far as 'trickle down' economics goes, well...We've sat by as American taxpayers and allowed a 9 TRILLION dollar investment in a worse scenario than a failed bank. Do some studying and try to gain perspective on the difference between a billion and a trillion.
                After listening to the talking heads this morning I guess it would have cost the American people more if we didn't bail um out. It's frustrating, I did mean Trillions.

                Comment


                • #9
                  easy come easy go...

                  Originally posted by redtail View Post
                  ...I did mean Trillions.
                  I wasn't talking about your post on the bail out, Red. I was talking about some of the things that are invested in annually that we've come to accept that we probably shouldn't.

                  Here is a very good article by a man who understands the Wall Street idiots, guys. We should all write our congressmen and insist on implementation of these guidelines:

                  http://www.cnn.com/2008/POLITICS/09/...sis/index.html
                  Last edited by blackwater; 09-17-2008, 12:06 PM.

                  Comment


                  • #10
                    I hate to say it but we should have let them fail the first time. Remeber the S&L crisis that your still paying for? Where do you think all management type folks went? They didnt just go get jobs parking cars. They stayed in the banking industry and many are now the folks who are "responsible" for this mess. You and I are responsible for this because we let the government interfer in capital markets. Fannie and Freddie were risk reduction mechanism established by the government that allowed the articficial cash flows to perpetrate this crisis. Add to that "government backed" risk and you've taken the leash off the pit bull. Were the last damn capitalist country on the planet and everytime our government is involved in economic planning of an industry theres trouble. Let the markets do what the markets do; the pain will be intense and a lot of people will be broke but, it will beat the crap out of the long slow death were about to go through.

                    Comment


                    • #11
                      AMEN ADVENTURE BOB!!!

                      Finally, someone proves they have a brain instead of a temper.

                      Comment


                      • #12
                        Originally posted by NOCHEEPGAS View Post
                        "Bend Over, Here It Comes Again!"

                        Financial turmoil is really tearing up the market, I guess I just don't understand how any financial institution can set themselves up for these enormous losses when they employ the "experts" in the financial world. Fannie Mae, Freddy Mac, Merrill Lynch, AIG,who's next? After last year I didn't think my 401K could get much worse, but I've lost another 56,000+ this year...ugh! It's gettin' so bad the average guy can't afford to work on his Jeep anymore.
                        Richard Syron, CEO of Freddy Mac made 18.9 million in 2007, this year he is guaranteed 8.8 million even though the company is in the tank!
                        WTF!
                        Man IT'S GETTING BAD! DOWN 148K as of yesterday....UGH!

                        Comment

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