Posted on 03/17/2008 5:57:12 AM PDT by Lazamataz
True dat. They dressed in business suits and hats to stand in soup lines then.
Very interesting. Producers vs. parasites BUMP! Throw in some bad management of business, international conflict, fractional reserves, fed, etc., etc.,...you could have some real problems.
Where’s the “plunge protection team” when you need it? /sarcasm
Thanks for posting, Laz.
No offense to Bush, he was off practicing laissez-faire while the central bank was rigging the game. Bush's economic policy is fine, and Carlyle's failure proves nothing but that Bush isn't bending the rules for personal gain.
I know everyone wants to make it a partisan issue and talk up the election, but this is a lot deeper than the Bush administration IMHO.
So I can write a $1000 check to the bank, and they'll call it done and send me the deed? Sweet! Double bonus, me property taxes will be $35 a year!
“Mark to market” means for example that if you are holding Bear Stearns stock, you have to tell your wife that it’s worth $2 because that’s the latest price.
Forbes would want to change the rules so you could tell your wife that it’s still worth the $100 you bought it for last year.
My 401 K and mutual fund are getting dunked.
And we’re off to the races!
The little guy always takes the fall.
they won’t go under until they pay the CEO a multi-million dollar bonus for a job well(????) done!!
Mine too. Let’s see how many years of investing will be wiped out before this is over.
Look at it this way - with medical advances going the way they are you'll be able to continue working until you're 88 and then just drop dead. Problem solved.
I’m afraid to even look at mine.
Too many people took a gamble on high-risk investments (in this case, mortgage-backed securities). It won’t be the first time, and it won’t be the last.
And there’s the perception among some - which has some degree of truth to it, IMHO - that the people who take the hit for the downside are NOT the same people who would have benefited from any upswing.
Us.
We're all gonna.
How can the president of Bear Stearns CEO go public with a statement that “everything is just fine” and then 4 days later the stock is sold for $2 to avert bankruptcy?
I think that is criminal farud of the stockholders. He may have wanted to avoid a mad sell-off thursday and friday, but to LIE to investers is OK????
How many lost their retirement based on his word?
And where can I get the governemnt to step in an let me buy formerly $150 stock for $2? I would buy a bunch of it at $2, just for speculation.
I’ve been afraid to look at mine. If I live that long I have another 10 to 15 years to recover though...
I propose that all taglines be changed to reflect that reality until this crisis passes.
Buy shoe-goo.
When I was working in the volcanic tuff of northern New Mexico, we used to put shoe-goo on the soles of our hiking boots so the ground would wear through that before it got to the soles.
I used to go through a pair of boots a month, then tried this tactic and was able to get through a summer with only 2 pairs of boots (instead of the usual 4-5).
That volcanic rock is brutal on shoes.
I’m heading out to buy 50lb bags of rice and flour...
Ain’t that the truth.
Horse meat futures at an all time high.
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