Aces High Bulletin Board

General Forums => The O' Club => Topic started by: Kaw1000 on April 05, 2008, 10:26:05 AM

Title: GREED....It STRIKES AGAIN!
Post by: Kaw1000 on April 05, 2008, 10:26:05 AM
National City Bank the 13th largest bank in the U.S. Is in big trouble and will be bought very soon!
Seems that the past CEO and his board got rich taking a chance on sub-prime housing loans..the bank
is now loosing billions...the stock was at a high of $45.00 at one time...now its at $9.00 a share!
 Mean while the past Ceo and his cronnies are down in some tropic location enjoying the millions that they made
on their bad decissions!
 Also many jobs will be lost and share holders will take a huge loss.

Greed= The root all all mans problems!!
Title: Re: GREED....It STRIKES AGAIN!
Post by: crockett on April 05, 2008, 10:30:20 AM
oh don't worry, there will be some sweet deal given by the govt with our tax dollars to some other corporate giant.
Title: Re: GREED....It STRIKES AGAIN!
Post by: FrodeMk3 on April 05, 2008, 10:56:28 AM
National City Bank the 13th largest bank in the U.S. Is in big trouble and will be bought very soon!
Seems that the past CEO and his board got rich taking a chance on sub-prime housing loans..the bank
is now loosing billions...the stock was at a high of $45.00 at one time...now its at $9.00 a share!
 Mean while the past Ceo and his cronnies are down in some tropic location enjoying the millions that they made
on their bad decissions!
 Also many jobs will be lost and share holders will take a huge loss.

Greed= The root all all mans problems!!

They are tumbling, one by one-It seems' like only a matter of time. Crockett's right, though. I imagine there will be some sort of bailout. It depends' on how large they are, really.
Title: Re: GREED....It STRIKES AGAIN!
Post by: Kaw1000 on April 05, 2008, 11:15:03 AM
This is the kind of thing that happened in the depression....4 or 5 banks buying all the other guys!
Title: Re: GREED....It STRIKES AGAIN!
Post by: SteveBailey on April 05, 2008, 11:24:13 AM
Mean while the past Ceo and his cronnies are down in some tropic location enjoying the millions that they made
on their bad decissions!
 

link?
Title: Re: GREED....It STRIKES AGAIN!
Post by: Kaw1000 on April 05, 2008, 11:59:32 AM
There is no link....just some insider Info
Title: Re: GREED....It STRIKES AGAIN!
Post by: Donzo on April 05, 2008, 12:18:54 PM
Mean while the past Ceo and his cronnies are down in some tropic location enjoying the millions that they made
on their bad decissions!
 Also many jobs will be lost and share holders will take a huge loss.


And the CEO's were voted into their position by who?
Title: Re: GREED....It STRIKES AGAIN!
Post by: Kaw1000 on April 05, 2008, 12:41:00 PM
I don't know who??
Title: Re: GREED....It STRIKES AGAIN!
Post by: Blooz on April 05, 2008, 02:05:31 PM
Quote
I don't know who??

(in a whisper) the shareholders....
Title: Re: GREED....It STRIKES AGAIN!
Post by: SteveBailey on April 05, 2008, 03:23:28 PM
There is no link....just some insider Info

Then I'm calling BS.

also, if the execs were making money, so were the shareholders.  Who's fault is it if the shareholders weren't savvy enough to know when to dump a tanking stock?
Title: Re: GREED....It STRIKES AGAIN!
Post by: LePaul on April 05, 2008, 03:40:40 PM
While the banks are a huge part of the problem, what about the dang lenders who borrowed and took a loan on something they truly couldnt afford?  At what point do we look at the consumer and see that they took on more than they could handle?

I mean, Credit 101 comes into a lot of this too
Title: Re: GREED....It STRIKES AGAIN!
Post by: john9001 on April 05, 2008, 03:41:49 PM
And the CEO's were voted into their position by who?

the board of directors, who are ceo's of other companies, that is why they make 400million a year. IE "you vote for my bonus package and i will vote for yours".

the stockholders vote on the board of directors, have you ever owned stock in a company, they send you a list of "recommended" board people to vote on or you can write in your own choice. i always put in my name but i never win , go figure.
Title: Re: GREED....It STRIKES AGAIN!
Post by: Getback on April 05, 2008, 03:43:08 PM
You know they tried to get there loses back on me. I used my National city debit card by mistake when I intended to use my credit union. (They looked very much alike) I knew how much was in there. Any way it bounced by 2 dollars. What was my penalty..$152 in fees. I had that and more in my credit union and covered it. Then closed my account. If banks made law they would hang you for jay walking.

Let em go belly up. They made the stupid loans.
Title: Re: GREED....It STRIKES AGAIN!
Post by: Getback on April 05, 2008, 03:48:38 PM
While the banks are a huge part of the problem, what about the dang lenders who borrowed and took a loan on something they truly couldnt afford?  At what point do we look at the consumer and see that they took on more than they could handle?

I mean, Credit 101 comes into a lot of this too

There's actually a 3rd and 4th component of this mess. #1 is the government. They made some kind of rule forcing banks to lend to certain minorities whether or not they qualify. Another component is a group called ACORN. They sue banks that don't lend to certain minorities.
Title: Re: GREED....It STRIKES AGAIN!
Post by: bj229r on April 05, 2008, 05:46:21 PM
There's actually a 3rd and 4th component of this mess. #1 is the government. They made some kind of rule forcing banks to lend to certain minorities whether or not they qualify. Another component is a group called ACORN. They sue banks that don't lend to certain minorities.

How many YEARS did we hear drivel from the Left about how so many unfortunate slobs in our country can't afford the 'American Dream' anymore?---They ultimately let people have home loans who had no business whatsoever having them, and to make it worse, they were stupid enough to give them ARMs. NOW I am deluged by stories about the evil banks and their 'predatory lending practices, for giving the afore-mentioned unfortunate slobs the loans. The economy didn't cost these people their homes, but their bailouts WILL cost the economy :mad:
Title: Re: GREED....It STRIKES AGAIN!
Post by: lasersailor184 on April 05, 2008, 08:26:45 PM
Greed is the root of all that is great in man.


It's socialism that is the root of all evil.
Title: Re: GREED....It STRIKES AGAIN!
Post by: Shamus on April 05, 2008, 09:32:38 PM
I would agree, if we didn't guarantee bank accounts, pensions and bail out the bankers that bought all those  bum mortgages, folks would be more careful, but those bankers come to the government and claim the entire financial system will fail if we don't.

Guess what..they are probably right, but they screamed bloody murder in the 90's that regulation was killing them and successfully lobbied to get Glass-Steagall repealed, another example of privatizing profits and laying the losses off on the public, cant blame them for wanting it both ways I guess, they saw what happened in the great S&L caper. 

shamus       
Title: Re: GREED....It STRIKES AGAIN!
Post by: ghi on April 06, 2008, 02:02:56 AM
The inevitable collapse of the dollar
http://www.youtube.com/watch?v=4n3g5lUgkWk (http://www.youtube.com/watch?v=4n3g5lUgkWk)


Ron Paul on the economy
http://www.youtube.com/watch?v=_FGeHvDgyMc (http://www.youtube.com/watch?v=_FGeHvDgyMc)

Title: Re: GREED....It STRIKES AGAIN!
Post by: AWMac on April 06, 2008, 02:17:01 AM
Check out some of the CEO's, CFO's that are ducking outta BIG Corporations and see what they recieve at the door.

Verizon
Level3
McLeodUSA

It'll make you wanna puke... and they get away with it.

Mac
Title: Re: GREED....It STRIKES AGAIN!
Post by: Lumpy on April 06, 2008, 02:47:06 AM
  Sky
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    V
America
Title: Re: GREED....It STRIKES AGAIN!
Post by: Excel1 on April 06, 2008, 06:16:21 AM
I would agree, if we didn't guarantee bank accounts, pensions and bail out the bankers that bought all those  bum mortgages, folks would be more careful, but those bankers come to the government and claim the entire financial system will fail if we don't.

Guess what..they are probably right, but they screamed bloody murder in the 90's that regulation was killing them and successfully lobbied to get Glass-Steagall repealed, another example of privatizing profits and laying the losses off on the public, cant blame them for wanting it both ways I guess, they saw what happened in the great S&L caper. 

shamus       

a similar situation to the u.s sub prime fiasco is happening in new zealand. easy credit, zero deposit high interest rate mortgages coupled with an over heated housing market has and is sending finance and investment companies to the wall. plenty of financial pain involved for a lot of people, but unlike the u.s nz truly does have a deregulated economy, so no bail outs or government interference. it's generally accepted here that by biting the bullet now- the economy will adjust and work through the problem quicker than if the government starts to meddle with it. the situation caused by sub prime mortgages in the u.s from what i can tell is more serious than the problem here in nz, but just about every local financial commentator on the subject that i have heard seems to think that the federal reserve is only prolonging the pain.   
Title: Re: GREED....It STRIKES AGAIN!
Post by: LTARGlok on April 06, 2008, 06:28:34 AM

Greed= The root all all mans problems!!


Alas, man is the root of all of man's problems.   :frown: :frown:

OK, well, sometimes it is woman who is instead the one at fault.     :eek: :eek: