complete chaos in the stock market today

all i can say is read the paper tomorrow morning.

You mean it's going to be even worse than it already is?

I love chaos and disorder

You need to find something other than the stock market to keep yourself entertained.

Like downloading some seasons of good TV shows you've never seen, or auto-erotic asphyxiation.

i try the asphyxiation minus the erotic part, and i always wake up.

Try Harder

I dont have time to read the paper. I need the coles notes version.

we're bordering on a complete collapse of the us financial markets. the credit market has been seized up for 10+ days. if the feds don't bail us out, we're walking into a depression.

they're meeting right now to try and come up with a bailout.

Would serve you bastards right for giving home loans to people without jobs and other equally retarded things.


Just a shame you have to take the rest of the world down with you.

Looking like maybe a $1Trillion US taxpayer corporate welfare (not that US tax payers have the money) for this system that neocons have brought you all since Reagan's days. $1trillion, you got to love these unfettered capitalists. When profits are good, they say to govt. "Keep your hands off of my stack Jack." But when the shit hits the fan due to deregulation and pure greed they all come running to the govt. cap 'n hand . F**K THEM ALL TO HELL. We need a NEW 'New Deal'.

dunnas wrote:Would serve you bastards right for giving home loans to people without jobs and other equally retarded things.


Just a shame you have to take the rest of the world down with you.

hey, you guys bought the CDOs and SIVs!!

buyer beware.

les, the 'war' in iraq and afghanistan has already cost us $1 trillion to date. all off the federal reserve balance-sheet, which means it's not included in the accounting for things like 'the budget'.

lol - we're like a white zimbabwe.

Aristotle wrote:

dunnas wrote:Would serve you bastards right for giving home loans to people without jobs and other equally retarded things.


Just a shame you have to take the rest of the world down with you.

hey, you guys bought the CDOs and SIVs!!

buyer beware.

The sub prime debt was parceled with higher quality debt and given overall ratings that were far too high by dodgy rating agency's. :jay:

Aristotle wrote:les, the 'war' in iraq and afghanistan has already cost us $1 trillion to date. all off the federal reserve balance-sheet, which means it's not included in the accounting for things like 'the budget'.

lol - we're like a white zimbabwe.

Yes the war, err occupatin of Iraq is over $1T. more if you factor in the premature wearing out of military gear and the costs of taking care of the vets. Oh wait McCain voted against every V.A. bill that came to vote, can you say John McSame?

When S and P consider finally lowering the USA AAA credit rating you know your in a shit pile.

dunnas wrote:

Aristotle wrote:

dunnas wrote:Would serve you bastards right for giving home loans to people without jobs and other equally retarded things.


Just a shame you have to take the rest of the world down with you.

hey, you guys bought the CDOs and SIVs!!

buyer beware.

The sub prime debt was parceled with higher quality debt and given overall ratings that were far too high by dodgy rating agency's. :jay:

...and you bastards fell for it. Yes, we'er taking the world down with us, muwahahahaha

You know all those kangaroos you've got in zoos over there. We've filled all their pouches with mini nuclear weapons.

don't i wish.

You and me both. :jay:

We only have uranium coming out out arses but no. We don't have any nuclear weapons of our own.


Except for the ones in the kangaroos of course.

Hahahaha...from Kissing Suzy Kolber...

SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP

DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON

from John Maynard Keynes in 1932 (The Atlantic Monthly)

The immediate problem for which the world needs a solution to-day is different from the problem of a year ago. Then it was a question of how we could lift ourselves out of the state of acute slump into which we had fallen and raise the volume of production back toward a normal figure. But to-day our efforts are directed toward the attainment of more limited hopes. Can we prevent an almost complete collapse of the financial structure of modern capitalism?

The immediate causes of the world financial panic - for that is what it is - are obvious. There are to be found in a catastrophic fall in the money value, not only of commodities, but of practically every kind of asset. The "margins," as we call them, upon confidence in the maintenance of which the debt and credit structure of the modern world depends, have "run off." In many countries the assets of the banks are no longer equal, conservatively valued, to their liabilities to their depositors. Debtors of all kinds find that their securities are no longer the equal of their debts. Few governments still have revenues sufficient to cover the fixed money charges for which they have made themselves liable.

Moreover, a collapse of this kind feeds on itself. We are now in the phase where the risk of carrying assets with borrowed money is so great that there is a competitive panic to get liquid. And each individual who succeeds in getting more liquid forces down the price of assets in the process of getting liquid, with the result that the margins of other individuals are impaired and their courage undermined. And so the process continues.

oh the irony

The mortgage crisis was a result of greed and stupidity of the lenders. One can try to blame the buyer but lets look at facts.

1: You can't get a loan/mortgage without having a lender look at your credit history and your income. You can't lie about it and get away unless the lender cares not to check your true income and credit.

2: Lenders make the final choice to give you as a buyer money, you do not have a gun as a buyer to head of the lender, so it's 100% the lenders fault for giving money to people they know could not likely pay it back!

3: Why? Why then did the lenders do this? Well they FRAUDULENTLY (and this is why there needs to be criminal investigations and indictments here) bundled up these weak to impossible mortgages in with more credible ones and SOLD THEM on the market to other institutions who may not do as good of job vetting (like the RNC did not do with Palin LOL) to see the bundle of weak or failing ones with the bundle of good ones. The original lenders did it to fatten the amount of mortgage values in $$$ to sell and then basically washed their hands of it so the new buyers of these mortgages to deal with.

4: So yes maybe Joe and Mary Six pack should not have tried to get said mortgage, but Tom MONEY BAGS Banker says "Hey lets see what we can do to get you that house." Well Joe and Mary believe they will be able to manage or Tom Money Bags Banker would not be so willing to help them get a mortgage. Tom Money bags Banker KNEW 100% that this mortgage client is unlikely to be able to pay the loan back, but Tom Money Bags Banker wants to have another value $$$ to sell in with his good and strong mortgages to some other business.

5: So get it, this is 100% the fault of greedy short sighted money lenders who fraudulently used the values of weak mortgages in with the stronger to sell to others. The buyers were ignorant but not the fault here.

6: This is a result of greedy, myopic and failed deregulation, all championed by Republicans working for the neo-cons/neo-facsists for the most part including One Senator John McCain who NEVER voted against any bills that were for deregulation.

The Economy, as explained on 4chan.

JaysonAych wrote:The Economy, as explained on 4chan.

JaysonAych wrote:The Economy, as explained on 4chan.

The economic crisis is worse than we all thought (some nsfw language)

I think I'm supposed to feel sorry for them or something

One Lehman executive in Rye Brook, fretting about paying off a Hamptons summer house and a ski chalet in Vermont, panicked on Monday morning and laid off her nanny, who had been with the Westchester family for nine years. “The nanny called me crying,” says Marla Sanders, who runs Advance Nannies and staffs Lehman homes. “One of the children she had brought home from the hospital.” Sanders knows more cuts for her clients are on the way. “They’re going to have to sell homes. The question is, will the homes sell? They’re cutting some of the children’s activities out, dance class, acting class. Are they going to have flowers delivered every day to their homes? I don’t think so!”

In the days after the fall of Lehman, Craigslist attracted several posts from people who said they were Lehman employees, becoming a kind of clearinghouse for the detritus of the Wall Street male ego. On September 17, one banker put his East 91st Street apartment up for rent and with it, his bachelorhood. (“I can no longer afford my apartment seeing as Lehman Brothers felt the need to steal my money and my soul … I am moving in with my girlfriend.”) Another headline read, “Should I leave my fiancé? … I guess I already know the answer. My boyfriend … rather fiancé, is/was employed by Lehman Brothers,” the posting stated. “In less than a week we went from being millionaires to just having a couple of 100K … I suppose this means it’s over. I am who I am. I personally blame all this on [Lehman CEO] Dick Fuld. I blame him for ruining my happiness.”

I remember those tough times when I only had a hundred thousand dollars to my name. Had to move to a gang-controlled neighborhood in the west end with drug deals going on right on the corner. Rode the bus to my minimum-wage custodian job, and came back to my home with the bullet holes in the siding and bars on the windows. I don't know how I ever scraped by.