"The Party is over Wall St"

DeeJayH · 09-29-08, 08:50 AM

now here is your Trillion dollars

god I so hate Pelosi. She is an unbelievable POS

MC.no.spin · 09-29-08, 09:21 AM

I've got a bad feeling this morning that the plan will not work. It's not enough. There are just too many troubled financial institutions for confidence to be restored until the storm is over. No confidence means more share selling and then stuffing money into U.S. Treasuries.

I hope I'm wrong and the markets have a big day.

donsutherland1 · 09-29-08, 09:40 AM

Mc.no.spin,

The House's likely passage of the rescue package will probably help somewhat, mainly by limiting the probability of systemic failure. It will take time for the package to bring about a recovery.

At the same time, there is now genuine concern that the financial contagion from the U.S. has infected Europe's financial system. In response, the world's money markets again had difficulties last night.

Overall, the economic situation has evolved along classic lines from an imploding asset bubble to the drying up of credit to a financial crisis (which is ongoing and is not finished; more banks will fail). The last act is a recession and the most recent economic data indicates that a recession may be baked in the proverbial cake for the U.S. beginning later this year and continuing into next year. Europe could be headed for recession, too. New Zealand has already succumbed. Singapore is headed in that direction.

MC.no.spin · 09-29-08, 09:56 AM

Quote:

Originally Posted by donsutherland1

Mc.no.spin,

The House's likely passage of the rescue package will probably help somewhat, mainly by limiting the probability of systemic failure. It will take time for the package to bring about a recovery.

At the same time, there is now genuine concern that the financial contagion from the U.S. has infected Europe's financial system. In response, the world's money markets again had difficulties last night.

Overall, the economic situation has evolved along classic lines from an imploding asset bubble to the drying up of credit to a financial crisis (which is ongoing and is not finished; more banks will fail). The last act is a recession and the most recent economic data indicates that a recession may be baked in the proverbial cake for the U.S. beginning later this year and continuing into next year. Europe could be headed for recession, too. New Zealand has already succumbed. Singapore is headed in that direction.

I heard in an interview of someone involved in the FDIC that 117 or so banks are on the troubled banks list. She said the average percent of banks on that list that fail was something like 15 %. But that the % was higher during the S & L crisis.

Which banks are next in your opinion?

UtahBill · 09-29-08, 10:18 AM

supposedly the bailout will make it easier for banks to start lending again, but who will they lend to? we can't get out of this mess until we get more jobs, and that means tax laws that punish companies that transfer jobs overseas at the expense of Americans..

azura28 · 10-01-08, 12:30 PM

Quote:

Originally Posted by DeeJayH

now here is your Trillion dollars

god I so hate Pelosi. She is an unbelievable POS

Oh......yeah!

I liked how they did not let them have it real quick -

let 'em suffer first - Wall street acted like a bunch of spoiled, rotten kids Monday when it did not pass. They panicked over nothing.

Now they've got their lollipop they can suck on for a while, knowing congress is meeting tonight, 'til they get their super big mac with fries, when it will likely pass.

Tucker Case · 10-01-08, 12:35 PM

Quote:

Originally Posted by MC.no.spin

I heard in an interview of someone involved in the FDIC that 117 or so banks are on the troubled banks list. She said the average percent of banks on that list that fail was something like 15 %. But that the % was higher during the S & L crisis.

Which banks are next in your opinion?

Look on this site Implode-O-Meter

They keep up to date with this stuff.