bear sterns, billions freddie fannie, billions lehman, billions look on traders faces as congress votes against bailout, priceless
"I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible." -- Treasury Secretary Henry Paulson, March 16, 2008
Congress is worthless. Can anyone post a list of the Texan voters so I know who to vote out of office?
Their plan was to offer up enough votes so it would pass with Dems doing the heavy lifting. Then they could say, "we're for you and Dems are for the fat cats."
He's still right. We're going to go through a crunch, credit will tighten and get more expensive, the most exposed banks will go out of business, and we'll have a recession. Then it'll get better. It always does.
I got out last september and bought back in when it hit "bottom" back in Feb/Mar. Since then I'm down 70k. I have the kids college funds still sitting in cash but I'm not putting a dime of their money into today's market.
Thanks but no thanks on that investing strategy to nowhere - I've done too much buying on dips in the last year and it has cost me.
It is utterly fascinating to see the strange agreement seen between folks who are usually polar opposites that the bailout has created here on the board. Save for the occassional kerfluffle of the usual suspects, this thread has been very informative. Thanks. Rimrocker, I salute you. Fight the power. "Revolution Blues" Well, we live in a trailer at the edge of town You never see us 'cause we don't come around. We got twenty five rifles just to keep the population down. But we need you now, and that's why I'm hangin' 'round. So you be good to me and I'll be good to you, And in this land of conditions I'm not above suspicion I won't attack you, but I won't back you. Well, it's so good to be here, asleep on your lawn. Remember your guard dog? Well, I'm afraid that he's gone. It was such a drag to hear him whining all night long. Yes, that was me with the doves, setting them free near the factory Where you built your computer, love. I hope you get the connection, 'cause I can't take the rejection I won't deceive you, I just don't believe you. Well, I'm a barrel of laughs, with my carbine on I keep 'em hoppin', till my ammunition's gone. But I'm still not happy, I feel like there's something wrong. I got the revolution blues, I see bloody fountains, And ten million dune buggies comin' down the mountains. Well, I hear that Laurel Canyon is full of famous stars, But I hate them worse than lepers and I'll kill them in their cars. Neil Young
http://thecaucus.blogs.nytimes.com/2008/09/29/obama-stay-calm-in-light-of-house-vote/ Seriously, Senator McCain, how f--king hypocritical can you be? Makes me sick. You pull the stunt and point your finger the other way.
May 7th, 2008 "The worst is likely to be behind us," -- Henry Paulson (US Treasury Secretary) July 20th, 2008 "it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation." -- Henry Paulson (US Treasury Secretary)
