Dow Jones plummets

[crockett]

The money lost doesn't really exist, it's a figment of the banks imagination.  It has no foundation.  The Federal Reserve Bank is an illegal entity.

Try to tell that to people whom just lost part of their retirement fund.. The money in the Stock Market is very real for the people whom have money invested there.

[BTW]

Thinking this will teach "them" a lesson, is like letting a murder walk free and putting the victim's parents in jail. That's the problem with you guys that think voting no on the rescue plan will teach them a lesson. The ones whom caused this mess might lose their job but they are more than secure because they will have enough money one way or another. This is going to end up teaching the middle class a lesson, the less will be you just screwed up by saying no to the bail out.

700 billion dollar bail out that in reality might not have even been 700 billion, it might have been 300 to 500. Yet yesterday $1.2 trillion was lost on the stock market, that money is people's retirement funds 401k's ect..ect. Wait till your car & home insurance rates start going up, that will be just one area that this will affect you directly.

There's no way to get rid of dead weight except to let those companies fail. Failure is the check in the checks and balances of capitalism. If you socialize failure, you don't have capitalism, you have socialism. Thats why the tax payer needs to stay out of this. The tax payer isn't teaching anyone a lesson.

[Xargos]

Try to tell that to people whom just lost part of their retirement fund.. The money in the Stock Market is very real for the people whom have money invested there.

You can thank the Government forcing banks to lend money to minorities who couldn't afford the payments for that.

[BiPoLaR]

You can thank the Government forcing banks to lend money to minorities who couldn't afford the payments for that.

amen bro 

[BTW]

Try to tell that to people whom just lost part of their retirement fund.. The money in the Stock Market is very real for the people whom have money invested there.

So all of a sudden Walt Street is holding people pensions as hostages? How could you have private business if thats the case? Its a bitter pill, but a lot less bitter than socialism.

[sluggish]

There's no way to get rid of dead weight except to let those companies fail. Failure is the check in the checks and balances of capitalism. If you socialize failure, you don't have capitalism, you have socialism. Thats why the tax payer needs to stay out of this. The tax payer isn't teaching anyone a lesson.

In a nut shell.  The backbone of a free market and a free society is the freedom to fail.  Eliminate that possibility, and there is no free market or free society.

[FrodeMk3]

In a nut shell.  The backbone of a free market and a free society is the freedom to fail.  Eliminate that possibility, and there is no free market or free society.

Unfortunately, there's another take on this, one that might explain the push for a 'bailout' with taxpayer money.

This might not just simply be about mortgages...but money that the gov't. itself uses to get by. Money for our infrastructure, Iraq, pensions' for people in elected office...If you take that into account, It kinda explains the push to bailout Wall Street...They are essentially covering their own asses.

[Xargos]

Thomas Jefferson to John Taylor, 1816    

“I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.”

[Hangtime]

Was watching BBC and Bloomburg Europe late last night.. the europeans were waiting on the Fed to bail THEM out! When that didn't happen and as their system started tanking, governments started pumping cash into their markets, grabbing banks that were circling the bowl.

Dollar is up, oil is down, crisis averted.

[Ripsnort]

well I just looked at my 401k  lost 1k  overnight 

You don't lose anything if you've not cashed in.

This is an excellent time to up that percentage taken out of your check for any 401k plans.

[kamilyun]

Try to tell that to people whom just lost part of their retirement fund.. The money in the Stock Market is very real for the people whom have money invested there.

It was down 8 %...not a ton.  The market is up 3% now.  Money, in the strictest sense of the word, is not being lost...or gained.  People's perceptions of what something is worth is changing, but it always does.

[RATTFINK]

The money lost doesn't really exist, it's a figment of the banks imagination.  It has no foundation.  The Federal Reserve Bank is an illegal entity. 

P.S.  The government encouraging people to live beyond their means was the main problem.

The word "cribs" comes to mind.

--

[RATTFINK]

Oh yes, the people with the oversized houses because they want to be like the Jone's 

[Captain Virgil Hilts]

Try to tell that to people whom just lost part of their retirement fund.. The money in the Stock Market is very real for the people whom have money invested there.

They only lost money if they cashed it out. The stock market is NOT the place for people who panic. If you didn't sell any stocks or mutual funds, or anything else, you didn't lose a dime. In fact, stocks are on sale now. I wish I had cash to buy some. But I will not borrow a dime to do it.

[Ripsnort]

Thinking this will teach "them" a lesson, is like letting a murder walk free and putting the victim's parents in jail. That's the problem with you guys that think voting no on the rescue plan will teach them a lesson. The ones whom caused this mess might lose their job but they are more than secure because they will have enough money one way or another. This is going to end up teaching the middle class a lesson, the less will be you just screwed up by saying no to the bail out.

700 billion dollar bail out that in reality might not have even been 700 billion, it might have been 300 to 500. Yet yesterday $1.2 trillion was lost on the stock market, that money is people's retirement funds 401k's ect..ect. Wait till your car & home insurance rates start going up, that will be just one area that this will affect you directly.

So, you favor the Karl Marx approach? You really are communist, aren't you?

In his Communist Manifesto, published in 1848, Karl Marx proposed 10 measures to be implemented after the proletariat takes power, with the aim of centralizing all instruments of production in the hands of the state. Proposal Number Five was to bring about the “centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”


[/quoet]