I'm hearing rumors that Wachovia is on the verge of absolute collapse.
tbhull
· 1 year ago
Wachovia and Citigroup are standing in line with them.
tbhull
· 1 year ago
Correction,
Washington Mutual and Citigroup are in government line with Wachovia.
randysmith
· 1 year ago
Couldn't happen to a nicer bunch of crooks! I grew up in NC while Wachovia was just a little local bank. As far as I can tell, it still SHOULD be.
My Dad never liked Wachovia and would be appalled to know that our mortgage -- after numerous buyouts, mergers, etc -- is now held by them. But he'd probably be thrilled that they are finally getting their due! As long as they don't try to raise our rates
Bostonian_Queer_in_Dallas
· 1 year ago
Let's party like it's 1929...we certainly have the bigotry of 1929...the profligate consumerism of 1929...the GOP of 1929...party on!
Houndentenor
· 1 year ago
I wish it were that easy. We just let these big big brokers and big banks go under and then clean up the mess. But if we let that happten they will take the whole economy down with them. There are a lot of rumors (and a lot of obvious assessments if you are paying attention) about the health of these firms. I can't believe Citi wasn't downgraded to "sell" months ago. This is what deregulation got us.
tbhull
· 1 year ago
facism unbound. Tough tiumes may follow, but I would notr mind seeing DC and Wall Street fail miserable to rebuild our system anew with new face, after eating the rich of course.
tbhull
· 1 year ago
Retry:
Facism unbound. Tough times may follow, but I would not mind seeing the DC and Wall Street power structure fail miserably and die entirely followed by a reuilt system with new faces, after eating the rich of course.
lilybart
· 1 year ago
Sure let's bail them out to prevent massive instability of the ecobimy, BUT all the head guys have to quit and they get to take NOTHING with them. LIke a plea deal --- we will bail out your company to save people'e savings and pensions, but YOU get nothing.
I could live with that.
randysmith
· 1 year ago
Even better, the top guys have to PAY IT BACK. Total confiscation of their "ill gotten" assets. If they're not willing to surrender their $100,000,000 golden handshakes, let them take it up with their stockholders.
Or even better, the government simply pays the INVESTOR -- or in practice simply transfers the "security" [I just love that term. Who ever decided there was anything "secure" in it?] to another brokerage just as the FDIC would do if it were a bank that failed. The failing COMPANY/BROKER gets NOTHING!
unrepentant_expat
· 1 year ago
During the 'Dirty Thirties', aside from those blown out of the Dust Bowl, the majority of Americas still lived on farms and were at least able to feed there families. This time around, If you are able to keep your suburban home from being repossessed, you may find how difficult it is to to convert a manicured lawn into a kitchen garden. Hopefully you won't need to use your Second Amendment rights to protect it from the roaming homeless.
heathwood
· 1 year ago
All this means is the the good ole US of A has been overvalued for quite sometime. We are on our way to being a second class economic power. Thanks to gw and gang.
Indigo
· 1 year ago
It's not easy to reset the economy. The Middle East just hasn't worked out as a war zone. We're going to have to let a Serbian assassin shoot a Belgian royal so we can recognize the threat presented by the E.U. and bomb German industry flat. Then we'll be back on top like in the good old daze. [ /snark ]
All Comments
This economy is going down.....
Washington Mutual and Citigroup are in government line with Wachovia.
I grew up in NC while Wachovia was just a little local bank.
As far as I can tell, it still SHOULD be.
My Dad never liked Wachovia and would be appalled to know that our mortgage -- after numerous buyouts, mergers, etc -- is now held by them. But he'd probably be thrilled that they are finally getting their due!
As long as they don't try to raise our rates
Facism unbound. Tough times may follow, but I would not mind seeing the DC and Wall Street power structure fail miserably and die entirely followed by a reuilt system with new faces, after eating the rich of course.
I could live with that.
Or even better, the government simply pays the INVESTOR -- or in practice simply transfers the "security" [I just love that term. Who ever decided there was anything "secure" in it?] to another brokerage just as the FDIC would do if it were a bank that failed. The failing COMPANY/BROKER gets NOTHING!
[ /snark ]
http://www.youtube.com/watch?v=lTXEWh2yT_g