Let them fail, and the chips fall where they may. enough of my money already.
The comments saw the benchmark Dow Jones index of leading US stocks to drop 30 points, having dropped beneath the 7,000 mark on Monday for the first time in 12 years. It finished the day down 37.27 points, or 0.55pc, at 6726.02.
http://www.freerepublic.com/focus/chat/2136635/posts
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lets just suck the country dry filling up these black holes
People can only take so much....
MAY! MAY! ...-—...-—...-— S&P nose diving past 700. GET ANY AND ALL CASH YOU CAN NOW!!!
WeimarRepublic here we come.....
When does Congress have to vote to authorize an increase in the federal debt in order to borrow more money. I don’t think I’ve heard anything about when they will run out of authorization to borrow, and without that they are stopped dead in their tracks.
Seems to me I remember seeing a news story several times a year when the debt limit was getting near and there was much talk about having to authorize a higher limit or stop spending.
Bull-friggin-crap! Bernanke can go jump off a cliff! The banks are not lending - credit markets are frozen solid. We give them money so they can pump it into the economy and what do the banks do with it? Sit on it. The auto industry model (while admittedly flawed) was based on a steady stream of people buying cars. Just go out there and try to buy one! You get terms that no sane person would agree to unless you plan to pay for one in cash. So what - a few mortgages end up in foreclosure/bankruptcy. Big whoop - so their profits are a few million or billion less. Read my lips - NO MORE BAILOUTS!!!!
Who’s going to bail me out? Me. FUBO
Bernanke is stupid, obtuse, confused or desperate. The black holes with the label “bank” on them are so far beyond salvage, there simply is NOT enough treasure and resources in the country to fill them.
See this report...3rd quarter 2008 investment bank derivative exposure.....you have to go all the way down to table 9 ...page 29..to see..very small, fine print,...that notes JP Morgans total derivative exposure of over 87 TRILLION dollars..the top five American investment banks carry a total over 170 TRILLION dollars of derivative exposure.
http://www.occ.gov/ftp/release/2008-152a.pdf
Now...not all these derivative positions are (or probably should say “were” ) necessarily “bad” positions...but they for sure were probably not taken in anticipation of the volatility and declines we’ve seen. In other words...they may well be almost all “bad” at this point. To continue to tie the US Treasury to this mess will take the US Gov’mt under.
Bernanke needs to go. He’s just telling the Democrats whatever they want to hear.
