Goldman Sachs and JP Morgan bully Fed

[cHeal]

Because the US facilited the greatest finacial scam in the history of the World and allowed it grow so big, it now cannot be contained.
.

The US didn't "facilitate" anything. These are private companies operating in a free market. They goofed and now they are paying the price as they should for their poor management. This is not 1929. The world is a very different place. What would help would be greater liberlisation of world trade through the WTO along with a clean out of wall street.

What free market?

How come people do not give me their money to gamble with and have a good time with.
Is it because I dont have a fancy title,a nice shiny building, an impressive suit and a nice line of patter.

You don't directly employ anybody, or indirectly employ many many more.

[floatingvote]

I think this is the best fun in years.

And as usual we have the left wing churlish brigade in the corner saying that all these institutions should be allowed fail.

Churlish is my word of the day.

What's so funny about it?

What is playing out right now is stagerring.
It has the potential to be as serious as a World War with potentially 100s of millions of previously comfortable people impoverished.
Why?
Because the US facilited the greatest finacial scam in the history of the World and allowed it grow so big, it now cannot be contained.

So belt on if you wish with your ignorant glib replies, it's casual indifferent ************************wittery like that that has help facilitated this calamity.

the truly scary thing is that history shows us that situations and changing circumstances like those were may be seeing now frequently lead to wars.

[Rathmines_Corkonian]

Big Geopolitical changes can lead to war, and there is no reason why this can't eventually as well. Hopefully will not though.
One of the most disturbing things about the AIG fiasco, is that financial companies did not want AIG to start selling its assets/securities as they would then have to update their own books with the new market values. Instead, we have banks with real estate collateral, than could be down a third in value, and sub-prime financial packages, that are probably worthless, but valued at pre-credit cruch prices. As someone once said "I know it's crazy, but the thing is, is it crazy enough".
Keeping up this charade, may be all that can be done, till companies have time to work the junk through the system.

[Squire Allworthy]

One of the most disturbing things about the AIG fiasco, is that financial companies did not want AIG to start selling its assets/securities as they would then have to update their own books with the new market values.

That is probably the most important point in all of this and is something we all need to keep in mind when gauging the overall health of many companies.

[Sucker Punch]

Welcome to Market Socialism.

Not quite, it more a case of privatising the profits, which has been the case untill now, and then socialise the losses. The correct definition is 'crony capitalism'.

[rhonda15]

Run on Washington Mutual?

Visiting another forum I came across this thread:

Okay on the other gold and silver thread, I said I was heading to my Dealer here in Portland Oregon.....and, I called him before I broke out the door with money in hand......I asked for a full inventory of Silver and Gold......ZERO!!!

IT GETS BETTER......this guy has been in business for over 40 years and we always talk about what is going on....He just said 2 minutes ago he IS WITNESSING FOR THE FIRST TIME IN HIS LIFE a BANK RUN!!!

He was at Washington Mutual in line to make a large deposit...and was in line over 30 minutes(NOTE:Never a line) and EVERYONE was pulling money.....

He soon realized he should not deposit the cash, and again....

let me say it one more time...."This is the first time in his life he has ever seen anything going on like this at Washington Mutual."

http://www.dailypaul.com/node/62473

[Joeyjoejoe]

The Americans will probably have to find a new economic plan, now that the exponential credit growth bubble has burst. (As will we)

So according to the above graph debt to inflation went up during WWII and stayed the same for 35 years until 'Reaganomics' was introduced,
Growth of national debt in the US slowed during the Clinton years before shooting up again under George W Bush?

And people in America might elect these lunatics for another fours years, because one of them like to shoots moose?

Also, is the entire world up the creek because of unbelieveably stupid loans given by mortgage lenders in the US?

[rhonda15]

Derivatives Defaults Nightmare

Lehman's Bankruptcy the Ultimate Wall Street Derivatives Defaults Nightmare
http://www.marketoracle.org/Article6275.html