Wall Street history being made...

[C0|dB|00ded]

Bear Stearns gone...

Lehman Brothers gone...

Merrill Lynch swallowed by BOA to avoid a similar fate...

AIG (the world's largest ins. company) needs bridge loans (40bill) and relaxed regulations to continue to function normally. Their debt is trading as if it were junk.

Washington Mutual (America's largest savings and loan) is on the brink and trading at a couple dollars a share.

Who's next? :shock:


T


...8)

[wu_shizzle]

Outside of those Cold mentioned, it looks like a good time to buy good companies at cheap prices.

Buy low, sell high.

[ABC]

Creative destruction.

[rrshock]

At this rate, Bank of America is going to be that literally. They now own a couple of the mortgage companies. They're buying Merril Lynch. And I believe that it was already damn near the largest bank as it was. I guess having just a couple of larger financial institutions will make it easier for the government to control and regulate?

And I am really glad that I got away from BoA when I did. They were getting too big for me at that time. Now they are just out of control.

[C0|dB|00ded]

Re: Wall Street history being made...

Bear Stearns gone...

Lehman Brothers gone...

Merrill Lynch swallowed by BOA to avoid a similar fate...

AIG (the world's largest ins. company) needs bridge loans (40bill) and relaxed regulations to continue to function normally. Their debt is trading as if it were junk.

Washington Mutual (America's largest savings and loan) is on the brink and trading at a couple dollars a share.

Who's next? :shock:


T


...8)

I'm sorry, I was wrong about AIG. The U.S. government just floated them $85,000,000,000 and now own 80% of AIG.

This just makes me L. O. L.

All you bastard house-flippers are going to pay!!!!111111111eleven


T


...8)

[InWuWeTrust]

if anyone has questions, pm me...i deal with this stuff everyday


wushizzle is right...if you are putting funds into your retirement plan keep doing so and as long as your are in a balanced portfolio, don't change a thing..unless you are going to up your contributions.

[DUShock]

Socialists!!!! I hate it when folks screw with the "natural selection" of the market.

Recent actions only prove that our economy is primarily neo-keynsian in nature and largely has been since FDR saved the freeworld in the early 30s.

[SB Shock]

if anyone has questions, pm me...i deal with this stuff everyday

wushizzle is right...if you are putting funds into your retirement plan keep doing so and as long as your are in a balanced portfolio, don't change a thing..unless you are going to up your contributions.

Actually, if you work in this stuff, then you probably shouldn't be giving blanket advice. Because your advice might be great for those who have long ways to go to retirement, it might not be sound advice for those at or near retirement.

I know you want to create the perception that everything is hunky-dory, because once that perception that everything is fine is finally destroyed then things could really start snowballing (which is somewhat what you see happening today).

I heard last night that what was really killing AIG were some in the financial community who were short selling their stock. It's not a zero-sum game, you have people leaching over somebody else demise to make big $$$.

But lets face it this is a huge crisis that is not about to stop and has the potential to totally undermine the confidence in financial institutions in this country. There are 117 banks supposedly on the FDIC watch list, historically at a minimum 10-15% fail. There are banks who are failing that are not on the watch list.

I think anybody in the financial industry should be tared and feathered and ran out of town. This is all about pure greed and corruption.

[BostonWu]

I think anybody in the financial industry should be tared and feathered and ran out of town. This is all about pure greed and corruption.

Anybody? I work in the industry and that's an absurd statement. I'd sure see fit to strip these top level executives along with their board members of all their assets and send them off to Leavenworth.

[WstateU]

if anyone has questions, pm me...i deal with this stuff everyday


wushizzle is right...if you are putting funds into your retirement plan keep doing so and as long as your are in a balanced portfolio, don't change a thing..unless you are going to up your contributions.

:good: :good: :good: :good:

[WuDrWu]

I think anybody in the financial industry should be tared and feathered and ran out of town. This is all about pure greed and corruption.

Anybody? I work in the industry and that's an absurd statement. I'd sure see fit to strip these top level executives along with their board members of all their assets and send them off to Leavenworth.

:clap: :clap: :clap: :clap: :clap: :clap:


Golden parachutes, based on flawed (and perhaps fraudulant) practices to show profits not in existence or collectable, should be revoked and returned to the shareholders. I don't care if it's one penny at a time.


Charles Rangel is an example of this kind of problem, only his is on the governmental side, not the private sector.

[ShockBand]

Apparently right now profit is privatized, and loss is socialized, at least with some companies. Total bailout costs from Bear Stearns till now are approaching one trillion dollars.

[SB Shock]

I think anybody in the financial industry should be tared and feathered and ran out of town. This is all about pure greed and corruption.

Anybody? I work in the industry and that's an absurd statement.

Yeah your right that was to broad of brush to paint. I was mainly pthink of the excecutives and their boards who are responsible.[/quote]

I'd sure see fit to strip these top level executives along with their board members of all their assets and send them off to Leavenworth.

There needs to be an example made of them for sure.

[DUShock]

Today's op-ed in the Journal by Lanny Davis

http://mobile2.wsj.com/device/article.php?mid=3&CALL_URL=http://www.wsj.com/article/SB122204285661261373.html

Regardless if you agree with the solution or not there's plenty of blame to go around. Sadly our system was doomed to failure with the repeal of the Glass-Steagall act. Oui veh!