Just wait until a few major banks and/or investment banks fail.
But to give credit where credit is due I propose that posters give their odds on which banks or investment banks fail (or the government bails out with a Bear Stearns like pick-up of the shit pile assets they hold in an acquisition) within the next 2 years.
My initial odds based on little more than pure bullshit are:
Merrill Lynch: 10 to 1 Citigroup: 6 to 1 Wachovia: 3.5 to 1 Bank of America 10 to1 Washington Mutual 2.5 to 1 Morgan Stanley: 15 to 1 Goldman Sachs: 50 to 1 Lehman Brothers: 3 to 1
.
OlderAndWiser
· 1 year ago
Seems Goldman Sachs is safe, since their CEO is the Secy of the Treasury, eh?
tbhull
· 1 year ago
Point well taken.
Ben Dover
· 1 year ago
Well it appears that the republicans are winning their "War on Everything". They have successfully destroyed Iraq, the American economy, the Bill of Rights, the stock market and are drooling over destroying Iran.
Drooling.
Andrew
· 1 year ago
Near a bear market?!?!?! We've been in one since the end of 2007. the only reason it hasn't been made official is because all numbers coming from government accountig are bogus. Yeah, like inflation is only running at 2%. Try 10%+. If you want to make odds on a major financial concern going bust, look no further than Nations Bank as well as Sun Trust. Citigroup is very shakey as is Wachovia and Lehman. Imagine, there are over 512 trillion in derivitives that these banks are tied into and nothing but smoke and mirrors to back them up. All of this thanks to a lack of oversight, because it was more important to latch onto those end of the year bonuses. Phil Grahm must be one happy camper
OlderAndWiser
· 1 year ago
Yes, as I reported on another thread here, GM stock hit a low below $10, which it hasn't been since 1954. What's that they were saying back then, "What's good for GM is good for the country?" Son of a bitch.
And the country thought it could put a failed CEO in the WH...and not suffer for his ignorance, incompetence and criminality. But, his VP sure as hell made a lot of dough, along with the other vampires while saying, Fuck you, America.
bunnyjump
· 1 year ago
To the people that voted for Bush twice: I hope you're suffering now, assholes. Scramble to the front of the unemployment line and scream for your government assistance loser!!.
Soundboy_jeff_meanie
· 1 year ago
how well is the economy doing again mccain??
OlderAndWiser
· 1 year ago
Hell, the economy doesn't bother McBush...MSNBC reported that Cindy and HER 3 kids spent $11 million on 5 condos...and she charged $750,000 on her credit cards in just one month.
Who's the elitists again?
Andrew
· 1 year ago
If you really want to get a handle on where things are going financially, you might want to Google the name Joseph Stieglitz the Columbia University head of economics and Nobel prize winner in the same category. Some really facinating reading with the pablum and nonsense that the talking heads on bubblevision keep spewing. Here's a recent example......
A couple big Wall Street investment banks are probably walking dead also, such as Lehman Brothers and Merrill Lynch. On the next round, they will tend to take each other down together. General Motors is being prepared by financial funeral directors as we speak. See the Merrill Lynch downgrade. The dead are downgrading the dead! Preparations are being made to relax official rules in order to facilitate bank failures, reported in the news without bother of implications cited. Treasury Secy Paulson wants ‘additional emergency authority’ to limit financial market disruptions. Translated, that means he wants relaxation of bailout mechanisms, loan extension facilities, and other bank sector subsidies, even as handouts and corrupted doles are to be widened. He cites powerful negative forces from energy prices, bank & bond crises, and the housing decline. He uses the word ‘liquidation’ rather openly, much like ‘fire’ in a theater. He talks openly about orderly liquidation of large financial institutions. Implied is more JPMorgan assumption of monumental books of business, otherwise known as casino games. Many such security assets have no market anymore. Try selling a subprime mortgage bond these days, or a leverage bond composed of the same decomposing debris! He is trying for a second time to propose a blueprint for regulatory overhaul to benefit the Wall Street elite banks that caused most of the Western world financial destruction. When the USGovt seeks to enact reform, Paulson wants them to reach for his blueprint.
Imagine hurricane preparations devised by town officials, with nobody changing daily activity and habits. For two decades, the public has subsidized corrupt, crooked, conniving Wall Street elitists without a peep of objection. The problem is that the public citizenry in the Untied States is profoundly ignorant, based upon lack of reliable information and lack of ability to discern much beyond video games and reality television shows and new hamburger options and Hollywood star drug habits. The majority is clueless, while the enlightened few feel helpless to contend with a corrupted system that controls the media networks, regulatory bodies, and law enforcement. Lawsuits against JPMorgan have all failed. Challenges against the USTreasury on gold management have all failed, yet are ongoing. Challenges against the commodity exchanges on oversized short position concentration have all failed. Meanwhile, most Wall Street information shared publicly is patently untrue, self-serving, and acts as part of their corporate brokerage trading strategies. In order to act defensively in defiance, one must invest in gold and silver, or else buy into an energy firm.
OlderAndWiser
· 1 year ago
Scary stuff for sure...but, I always think I'm a barometer of bad times, and I've been right for the last 40 years (ask any working person whose income is eaten up by living expenses and has little disposable income). Little money, retired, seeing my paltry check eaten up by inflation right now. And I notice and observe my neighbors, local businesses, who's moving in, who's moving out...whose kids look a bit neglected, who's porch sitting during the day, and wondering why there are cars in every driveway not being driven.
Stiglitz was the lone voice in saying that Iraq will cost $2-3 trillion in the long haul...and nobody listened. That was 2 years ago.
Soundboy_jeff_meanie
· 1 year ago
these lyrics go out to the sheeple who voted for chimpy twice:
Frank, the new CEO had to answer to the board. The board was getting anxious, and the shareholders were on a bed, legs in air, ass-cheeks open wide They were about to get fucked like it was their first time. When one makes 20 million, ten thousand people lose. What keeps that one from swallowing a shotgun?
Dan, the company man, felt loyalty to the corp. After 16 years of service, and a family to support He actually started to believe the weaponry and chemicals were for national defense. 'Cause Danny had a mortgage, and a boss to answer to. The guilty don't feel guilty, they learn not to.
Helen is living in her car, trying to feed her kids. She got laid off at work, and her house was repossessed. It's hard to think clearly when it's 38 degrees. Desperate people have been known to render desperate deeds. But when she shot that family and moved into their home, The paper read she suffered from dementia.
jr
· 1 year ago
"Bernanke, you're doing a heckuva job"-43
Andrew
· 1 year ago
The Federal Debt just surged by $128,200,612,476.68 in one business day on Monday. Since there are close to 128 million workers in the private workforce, the increase amounts to roughly $1,000 per every worker in the private sector. Guess those social security checks are getting expensive. The total Federal Debt is now at a record $9,492,006,123,003.80. Just think for a moment. The total 9 trillion dollar debt doesn't even include the interest on that debt. We'll never pay it off, so might as well bankrupt the entire system and start over again.
All Comments
But to give credit where credit is due I propose that posters give their odds on which banks or investment banks fail (or the government bails out with a Bear Stearns like pick-up of the shit pile assets they hold in an acquisition) within the next 2 years.
My initial odds based on little more than pure bullshit are:
Merrill Lynch: 10 to 1
Citigroup: 6 to 1
Wachovia: 3.5 to 1
Bank of America 10 to1
Washington Mutual 2.5 to 1
Morgan Stanley: 15 to 1
Goldman Sachs: 50 to 1
Lehman Brothers: 3 to 1
.
Drooling.
If you want to make odds on a major financial concern going bust, look no further than Nations Bank as well as Sun Trust. Citigroup is very shakey as is Wachovia and Lehman. Imagine, there are over 512 trillion in derivitives that these banks are tied into and nothing but smoke and mirrors to back them up. All of this thanks to a lack of oversight, because it was more important to latch onto those end of the year bonuses. Phil Grahm must be one happy camper
And the country thought it could put a failed CEO in the WH...and not suffer for his ignorance, incompetence and criminality. But, his VP sure as hell made a lot of dough, along with the other vampires while saying, Fuck you, America.
Scramble to the front of the unemployment line and scream for your government assistance loser!!.
Who's the elitists again?
A couple big Wall Street investment banks are probably walking dead also, such as Lehman Brothers and Merrill Lynch. On the next round, they will tend to take each other down together. General Motors is being prepared by financial funeral directors as we speak. See the Merrill Lynch downgrade. The dead are downgrading the dead! Preparations are being made to relax official rules in order to facilitate bank failures, reported in the news without bother of implications cited. Treasury Secy Paulson wants ‘additional emergency authority’ to limit financial market disruptions. Translated, that means he wants relaxation of bailout mechanisms, loan extension facilities, and other bank sector subsidies, even as handouts and corrupted doles are to be widened. He cites powerful negative forces from energy prices, bank & bond crises, and the housing decline. He uses the word ‘liquidation’ rather openly, much like ‘fire’ in a theater. He talks openly about orderly liquidation of large financial institutions. Implied is more JPMorgan assumption of monumental books of business, otherwise known as casino games. Many such security assets have no market anymore. Try selling a subprime mortgage bond these days, or a leverage bond composed of the same decomposing debris! He is trying for a second time to propose a blueprint for regulatory overhaul to benefit the Wall Street elite banks that caused most of the Western world financial destruction. When the USGovt seeks to enact reform, Paulson wants them to reach for his blueprint.
Imagine hurricane preparations devised by town officials, with nobody changing daily activity and habits. For two decades, the public has subsidized corrupt, crooked, conniving Wall Street elitists without a peep of objection. The problem is that the public citizenry in the Untied States is profoundly ignorant, based upon lack of reliable information and lack of ability to discern much beyond video games and reality television shows and new hamburger options and Hollywood star drug habits. The majority is clueless, while the enlightened few feel helpless to contend with a corrupted system that controls the media networks, regulatory bodies, and law enforcement. Lawsuits against JPMorgan have all failed. Challenges against the USTreasury on gold management have all failed, yet are ongoing. Challenges against the commodity exchanges on oversized short position concentration have all failed. Meanwhile, most Wall Street information shared publicly is patently untrue, self-serving, and acts as part of their corporate brokerage trading strategies. In order to act defensively in defiance, one must invest in gold and silver, or else buy into an energy firm.
Stiglitz was the lone voice in saying that Iraq will cost $2-3 trillion in the long haul...and nobody listened. That was 2 years ago.
Frank, the new CEO had to answer to the board.
The board was getting anxious, and the shareholders were
on a bed, legs in air, ass-cheeks open wide
They were about to get fucked like it was their first time.
When one makes 20 million, ten thousand people lose.
What keeps that one from swallowing a shotgun?
Dan, the company man, felt loyalty to the corp.
After 16 years of service, and a family to support
He actually started to believe
the weaponry and chemicals were for national defense.
'Cause Danny had a mortgage, and a boss to answer to.
The guilty don't feel guilty, they learn not to.
Helen is living in her car, trying to feed her kids.
She got laid off at work, and her house was repossessed.
It's hard to think clearly when it's 38 degrees.
Desperate people have been known to render desperate deeds.
But when she shot that family and moved into their home,
The paper read she suffered from dementia.