Lehman Bros Folds, Merrill Lynch Collapsed, AIG going next

[Kuhn]

Even some of the rich and greedy are feeling the effects of being rich and greedy.

[Nilsen]

Some are, but mostly those who have borrowed to invest.

[Torque]

when credit card capitalism rides on the back of the socialist dollar it was bound to happen sooner or later... allowing the banks to securitize mortgages to create liquidity was just an feeble effort to delay the inevitable end of free money... i bet chavez is having a good larf about it tho.

[myelo]

Bulls make money. Bears make money. But pigs get slaughtered.

These companies have been making stupid decisions based on greed. If you don't let the market punish stupid decisions, you just get more stupid decisions.

Some really rich people are going to be a little less rich and a bunch of employees are going to have to find another job.  Then tomorrow the sun will come up again. 

[Hangtime]

For the record.

Clinton passed S.900: Financial Services Modernization Act of 1999.. killing Glass-Stegall.. the law passed by congress following the crash of 29. This Act, (s.900) passed by the democratic President; put on his desk by a republican senate, leads directly to the meltdown were seeing now.

http://www.marketwatch.com/news/story/would-glass-steagall-save-day-credit/story.aspx?guid={3AA33D85-AD38-41B4-B300-033235B5734A}

The Vote:

Grouped By Vote Position

YEAs ---90

Abraham (R-MI)
Akaka (D-HI)
Allard (R-CO)
Ashcroft (R-MO)
Baucus (D-MT)
Bayh (D-IN)
Bennett (R-UT)
Biden (D-DE)
Bingaman (D-NM)
Bond (R-MO)
Breaux (D-LA)
Brownback (R-KS)
Bunning (R-KY)
Burns (R-MT)
Byrd (D-WV)
Campbell (R-CO)
Chafee, L. (R-RI)
Cleland (D-GA)
Cochran (R-MS)
Collins (R-ME)
Conrad (D-ND)
Coverdell (R-GA)
Craig (R-ID)
Crapo (R-ID)
Daschle (D-SD)
DeWine (R-OH)
Dodd (D-CT)
Domenici (R-NM)
Durbin (D-IL)
Edwards (D-NC)
   Enzi (R-WY)
Feinstein (D-CA)
Frist (R-TN)
Gorton (R-WA)
Graham (D-FL)
Gramm (R-TX)
Grams (R-MN)
Grassley (R-IA)
Gregg (R-NH)
Hagel (R-NE)
Hatch (R-UT)
Helms (R-NC)
Hollings (D-SC)
Hutchinson (R-AR)
Hutchison (R-TX)
Inhofe (R-OK)
Inouye (D-HI)
Jeffords (R-VT)
Johnson (D-SD)
Kennedy (D-MA)
Kerrey (D-NE)
Kerry (D-MA)
Kohl (D-WI)
Kyl (R-AZ)
Landrieu (D-LA)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lieberman (D-CT)
Lincoln (D-AR)
   Lott (R-MS)
Lugar (R-IN)
Mack (R-FL)
McConnell (R-KY)
Moynihan (D-NY)
Murkowski (R-AK)
Murray (D-WA)
Nickles (R-OK)
Reed (D-RI)
Reid (D-NV)
Robb (D-VA)
Roberts (R-KS)
Rockefeller (D-WV)
Roth (R-DE)
Santorum (R-PA)
Sarbanes (D-MD)
Schumer (D-NY)
Sessions (R-AL)
Smith (R-NH)
Smith (R-OR)
Snowe (R-ME)
Specter (R-PA)
Stevens (R-AK)
Thomas (R-WY)
Thompson (R-TN)
Thurmond (R-SC)
Torricelli (D-NJ)
Voinovich (R-OH)
Warner (R-VA)
Wyden (D-OR)


NAYs ---8
Boxer (D-CA)
Bryan (D-NV)
Dorgan (D-ND)
   Feingold (D-WI)
Harkin (D-IA)
Mikulski (D-MD)
   Shelby (R-AL)
Wellstone (D-MN)

Present - 1
Fitzgerald (R-IL)
   
Not Voting - 1
McCain (R-AZ)

A Dem president. A republican house. They both FAILED. I highlighted the names that caught my eye on the first run down the list as being influential or contenders in the current elections. The conclusion I'm drawing is that Congress.. dems and republicans FAILED. If any of these cretins are on your ticket for return to the legislature I'd vote 'em out.

You wanna reform government?.. Toss 'em out.

You want honest government? Toss 'em out.

If you think politicans should be held accountable for enabling usury? Toss 'em out.

Every freakin one of 'em.

!!!!!!!!


   

[Megalodon]

Merrill gets saved bye BofA
Lehman is toast
The big deal is AIG they are in 130 countries over 100k employees they need 100B by mannana ain't going to happen. The Fed could have saved Lehman and AIG

The the same thing will happen tomorrow only worse the ripple effect will be gigantic.

AIG is a trilliondollar company POOF


I love it when you guys break out the cigars and talk Monica.


Name 1 thing that this current admin hasn't screwed up or has had screwed up on their watch.
Hang want to Hang it on Clinton...WRONG B.

Things screwed up while these idiots have had the helm
911
Stem Cells
Airlines
Business
Housing
Banking
Iraq
Osama
Katrina
Fanny and Freddy
The national debt
Trade
Oil

Sure I missed some

Not to mention all the lies the Bush Cheney delinquents have told. Tell me for the 1st 8 months what did Bush do? Plan our demise? If any deserves impeachment its this clown we have now.

And Clinton was a "Bad" guy Lmao cause he didn't have sex w/that women. Clinton was 10x f:n the President than the FOOL we have now.

But you all go on break out the Cigars. This Rep. party has torn apart this country. Up in Smoke George must have Blunts.

 The only good thing I can think of that has happened with this president is... gold went up as I predicted when when I bought it at 250, even that lost money today.

Don't say he inherited a recession when it was because of him, looking like he would win, we had a recession.

I don't want Obama either so don't go there.

So get ready tomorrow is going to rock your socks
the nik is down 5%
hangseng down 6% 4 min into opening.

I do agree with this:
"Hang"
You want to reform government?.. Toss 'em out.

You want honest government? Toss 'em out.

If you think politicians should be held accountable for enabling usury? Toss 'em out.

Every freaking one of 'em.

EVERY STINKING ONE!

[Donzo]

Things screwed up while these idiots have had the helm

911
Stem Cells

I'll start at the top....can you elaborate on how these two things were "screwed up" by the "idiots" at the helm?

[alskahawk]

I have been kicking myself for not buying BAC the last time they fell below 30 bucks. This morning they fell just far enough to allow me in. Add in their purchases of Countrywide and Merrill Lynch, and I believe they are going to be positioned to compete nicely in this market.


Predictions:
(some) of the players that deserved to go under will, unfortunately some that deserved to go under will be bailed out.
BAC is a 50+ dollar stock within 2 years and Our current financial crisis will be a faded memory.


My opinion:
To hell with Greenspan, as far as I am concerned he caused the financial problems we had at the end Clinton/beginning of the Bush years. Along with with our goofy congress demanding we get more home loans to people who should not have had home loans, he pretty much drove this sub-prime mess with his constant interest rate drops. Now he is running around telling anyone dumb enough to listen that this is the worse financial crisis in 100 years. I guess he is writing a book again and needs material.

 BAC may be risky due to thier high debt now.

Greenspan; There is no housing bubble. The housing market is solid. 

[Megalodon]

I'll start at the top....can you elaborate on how these two things were "screwed up" by the "idiots" at the helm?

 sure he didn't do anything about AlQaida after having been warned.

and he set back or restricted good technologies cause he is a religious freak


Next

[alskahawk]

For the record.

Clinton passed S.900: Financial Services Modernization Act of 1999.. killing Glass-Stegall.. the law passed by congress following the crash of 29. This Act, (s.900) passed by the democratic President; put on his desk by a republican senate, leads directly to the meltdown were seeing now.

http://www.marketwatch.com/news/story/would-glass-steagall-save-day-credit/story.aspx?guid={3AA33D85-AD38-41B4-B300-033235B5734A}

The Vote:

Grouped By Vote Position

YEAs ---90

Abraham (R-MI)
Akaka (D-HI)
Allard (R-CO)
Ashcroft (R-MO)
Baucus (D-MT)
Bayh (D-IN)
Bennett (R-UT)
Biden (D-DE)
Bingaman (D-NM)
Bond (R-MO)
Breaux (D-LA)
Brownback (R-KS)
Bunning (R-KY)
Burns (R-MT)
Byrd (D-WV)
Campbell (R-CO)
Chafee, L. (R-RI)
Cleland (D-GA)
Cochran (R-MS)
Collins (R-ME)
Conrad (D-ND)
Coverdell (R-GA)
Craig (R-ID)
Crapo (R-ID)
Daschle (D-SD)
DeWine (R-OH)
Dodd (D-CT)
Domenici (R-NM)
Durbin (D-IL)
Edwards (D-NC)
   Enzi (R-WY)
Feinstein (D-CA)
Frist (R-TN)
Gorton (R-WA)
Graham (D-FL)
Gramm (R-TX)
Grams (R-MN)
Grassley (R-IA)
Gregg (R-NH)
Hagel (R-NE)
Hatch (R-UT)
Helms (R-NC)
Hollings (D-SC)
Hutchinson (R-AR)
Hutchison (R-TX)
Inhofe (R-OK)
Inouye (D-HI)
Jeffords (R-VT)
Johnson (D-SD)
Kennedy (D-MA)
Kerrey (D-NE)
Kerry (D-MA)
Kohl (D-WI)
Kyl (R-AZ)
Landrieu (D-LA)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lieberman (D-CT)
Lincoln (D-AR)
   Lott (R-MS)
Lugar (R-IN)
Mack (R-FL)
McConnell (R-KY)
Moynihan (D-NY)
Murkowski (R-AK)
Murray (D-WA)
Nickles (R-OK)
Reed (D-RI)
Reid (D-NV)
Robb (D-VA)
Roberts (R-KS)
Rockefeller (D-WV)
Roth (R-DE)
Santorum (R-PA)
Sarbanes (D-MD)
Schumer (D-NY)
Sessions (R-AL)
Smith (R-NH)
Smith (R-OR)
Snowe (R-ME)
Specter (R-PA)
Stevens (R-AK)
Thomas (R-WY)
Thompson (R-TN)
Thurmond (R-SC)
Torricelli (D-NJ)
Voinovich (R-OH)
Warner (R-VA)
Wyden (D-OR)


NAYs ---8
Boxer (D-CA)
Bryan (D-NV)
Dorgan (D-ND)
   Feingold (D-WI)
Harkin (D-IA)
Mikulski (D-MD)
   Shelby (R-AL)
Wellstone (D-MN)

Present - 1
Fitzgerald (R-IL)
   
Not Voting - 1
McCain (R-AZ)

A Dem president. A republican house. They both FAILED. I highlighted the names that caught my eye on the first run down the list as being influential or contenders in the current elections. The conclusion I'm drawing is that Congress.. dems and republicans FAILED. If any of these cretins are on your ticket for return to the legislature I'd vote 'em out.

You wanna reform government?.. Toss 'em out.

You want honest government? Toss 'em out.

If you think politicans should be held accountable for enabling usury? Toss 'em out.

Every freakin one of 'em.

!!!!!!!!


   

 Much of the deregulation of banking/credit started with Carter in 1978. The Regan administration continued the trend in 88. Almost every administration has had their hand in deregulation and easing of oversight on the financial community. Money well spent by lobbyists. I think we should pull all the pot heads out of jail and replace them with politicians.

[Donzo]

sure he didn't do anything about AlQaida after having been warned.

Did Clinton after 2 embassy's and a naval ship were bombed?

and he set back or restricted good technologies cause he is a religious freak

"Good technologies"?  Which ones?   You talking about embryonic stem cells? 

Can you provide links to cures that have been documented using embryonic stem cells?

[RedTop]

sure he didn't do anything about AlQaida after having been warned.

and he set back or restricted good technologies cause he is a religious freak


Next

  Your special

[Megalodon]

Your special

So are you reddie Smooch

[Megalodon]

Did Clinton after 2 embassy's and a naval ship were bombed?

"Good technologies"?  Which ones?   You talking about embryonic stem cells? 

Can you provide links to cures that have been documented using embryonic stem cells?

 Sure can you provide links that say it didnt or could not have worked. its science not a sure thing thats why we spend mula on it. stopping any avenue to helping is hurting or restricting it.

And yes Clinton tried to get him at least. what did Georgeeboy do? A big Fat Nada?

[Elfie]

Sure can you provide links that say it didnt

And yes Clinton tried to get him at least. what did Georgeeboy do? A big Fat Nada?

How exactly did Clinton try to get bin Laden? Clinton had multiple opportunities to kill bin Laden but passed them all up for various reasons. Whether or not all of those reasons are valid is debatable.