|
| :: Previous topic :: Next topic |
| Author |
Message |
Wu Li
Joined: 20 Feb 2007
Posts: 576
|
 Posted: Mon Sep 29, 2008 9:26 pm Post subject: |
  |
|
| Wu Li wrote: | | Robert wrote: | So
Let's look at what the big commercial money has been saying...
The blue line at the bottom in relative terms
In the crude oil futures
up until August they seemed to think that it was going higher but since then they've been selling into weakness- suggesting a bottom when they start buying relatively is far away.So Hombre is probably right.
In the SP500 futures
they believed the hype until recently
significantly by July they thought the market overbought and haven't been dissuaded by any Lehman/AIG action to consider this mess by any means over.The data is a week behind but they're hardly scared about any government intervention.Stock market has a way lower to go by their decisions of last week.Maybe they knew the Paulson gambit was pisspoor to gamble on.It's got to get far worse before they start buying in.
In gold,as in this thread the argument seems different
they were buying heavily relatively into the $750 downspike suggesting they see gold rising and they're not big sellers at $900.So Hombre's $550 seems unlikely at present but after a new upspike they'll sure be a good retracement.
One thing no one's mentioned is that the premium on personal bullion is astonishing high at the moment.krugerrands on ebay running at $1100 an ounce and while silver futures are $12-13 ,you won't be able to buy coins or bullion ounces publicly less than $25.
Comex have stopped delivering gold or silver and now cash settle.
These are fundamental shifts below the surface.
Robert |
Stop Robert
You obviously are wrong even if you give good points
anyway what do you know!!??!!??!????
Too bad people try to have conversation but are given Monty python.
Cheers!   
I wish I had this humor and obviously it is given by someone who fail to understand the dire position of people who may be affected.
BUT lets have a good old time.
It will be brilliant.
I can not appreciate your point of view in the way it is expressed.
Please forgive my ignorance but it makes me sick.
BLAH!! |
OOPS sorry ROBERT
I meant Hombre's POST which he thought so clever
| hawkwind wrote: | | Wu Li wrote: |
To me it shows a shaky society which is starting to come to terms with the fact they have been lied to.
Just a bit of positive energy.
I am looking at at least 5 trillion myself but what are numbers between fellow posters?
Excuse me  |
I hear you Wu and here is 5 trillion whatever's to do what you will ...
- Hawk  |
BY THE WAY BTW
Who is PALIN anyway?
I think I missed a palin and my name is Michael
Who is missing the point anyway???
I accept full responsibility for being me.
DOH!!
_________________
"Fear is the passion of slaves." |
|
| Back to top |
|
 |
atm
Joined: 16 Apr 2006
Posts: 2749
|
| Posted: Mon Sep 29, 2008 10:14 pm Post subject: |
|
|
Wu Li
From the Financial Times (no Pythonesequeisms there).
| Quote: |
House rejects US bail-out bill
By Krishna Guha in Washington, Peter Thal Larsen in London and Michael Steen in Amsterdam
Published: September 29 2008 19:32 | Last updated: September 29 2008 21:27
http://www.ft.com/cms/s/0/483ad64a-8e53-11dd-9b46-0000779fd18c.html
US stocks suffered their worst one-day fall since the 1987 crash on Monday, after the House of Representatives shocked investors by voting to reject the Bush administration’s $700bn bail-out plan.
The vote effectively torpedoed unprecedented government interventions to quell the fear in the financial markets which had earlier seen five US and European banks rescued or nationalised and the world’s central banks unleashing a gigantic global liquidity operation.
House Republicans voted roughly two-to-one against the bail-out, while the Democrats split three-to-two in favour.
Congressional leaders took procedural steps that could enable a revote, but analysts said Democrats would be unlikely to try again without the promise of more Republican support.
The S&P 500 fell 8.8 per cent, its worst day since falling 20.5 per cent on October 19, 1987.
The Dow Jones Industrial Average suffered its largest intraday points decline and was down 777.68 points by the close, a slide of 7 per cent, which nearly matched its 7.3 per cent decline when markets reopened on September 17, 2001, after the terrorist attacks against New York and Washington.
Financial stocks plunged with the heaviest selling hitting two sub-sectors: large securities houses such as Morgan Stanley and Goldman Sachs and smaller regional lenders with large portfolios of troubled mortgages such as National City and Sovereign, which fell 55.5 per cent and 64.7 per cent, respectively.
Meanwhile, stress in the credit markets, the epicentre of the financial crisis, intensified as investors fled to the safety of government securities.
A flight to safety saw the yield on the two-year US Treasury bill fall 38 basis points.
Each side blamed the other for playing partisan politics.
The rescue plan has angered many taxpayers, who see it as a bail-out for Wall Street.
However, Bill Gross, a fund manager at Pimco, said “this must be passed, either in its current form or another form”.
If not there would be a credit freeze of “significant proportions”.
The scale of the tumult in financial markets was underlined earlier in the day in a series of bank rescues on both sides of the Atlantic. In the US, Wachovia, the country’s sixth-largest lender, was rescued by Citigroup in a government-sponsored bail-out that will see the US government take a $12bn stake in the country’s largest bank.
In Europe, the German government underwrote a €35bn bail-out of Hypo Real Estate, a mortgage lender and financier to local authorities, while Iceland took control of Glitnir, the country’s third-largest bank. In Britain, Bradford & Bingley’s £52bn (€65bn) mortgage book was taken into national ownership.
The bail-outs followed the €11.2bn rescue of Fortis, the Belgo-Dutch group, by three European governments late on Sunday night. The bail-outs triggered sharp falls in bank shares, including Dexia, Commerzbank, ING and Royal Bank of Scotland.
Bankers said the recent banking collapses in the US had made bondholders realise they could suffer losses, prompting investors to shy away from providing financing to any financial institution that might be at risk.
The US Federal Reserve more than doubled the amount of dollars it lends to other central banks to $620bn, while also dramatically expanding its own domestic liquidity operations. The US central bank doubled the size of its own credit auctions to $300bn and tripled the amount of this offered in the form of 12-week, rather than four-week, loans. It said it would offer another $150bn to tide over institutions until the end of the year.
The giant global liquidity operation is designed to quell extraordinary strains in the money markets which have essentially frozen in recent days, putting intense stress on weaker financial institutions.
The idea is to mitigate the risk that banks will be unable to roll over their funding by ensuring that they will always be able to turn to their central bank for dollars if necessary.
Additional reporting by Ralph Atkins in Frankfurt and Neil Hume and Javier Blas in London
Copyright The Financial Times Limited 2008 |
| Quote: |
US economy: $700 billion Wall Street bail-out rejected on Meltdown Monday 2
The $700 billion bail-out to save the global financial system from potential collapse has been rejected by US politicians.
By Robert Winnett
Last Updated: 1:34AM BST 30 Sep 2008
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3105094/US-economy-700-billion-Wall-Street-bailout-rejected-on-Meltdown-Monday-2.html
Amid extraordinary scenes, Wall Street’s Dow Jones index plunged by 700 points - more than six per cent - within minutes of the American Congress voting against the plans.
Although share prices partially recovered, British investors are braced for further sharp falls following a day of turmoil in which the London stock exchange suffered one of its biggest ever daily drops.
Frantic negotiations are underway in Washington to try and rescue the bailout package. American politicians said they were determined to negotiate a deal but the ongoing uncertainty is likely to have profound effects on financial markets this week.
George W Bush, the American President, previously warned that without the scheme the impact on the US economy would be devastating. He also said that Americans would struggle to get mortgages, credit cards or loans.
Ben Bernanke, the chairman of the Federal Reserve, had warned of "grave threats" to the financial system if Congress rejected the plan.
Mr Bush, who staked his political reputation on securing the deal, that he was “very disappointed”. Gordon Brown, the Prime Minister, was said to be monitoring the situation “very closely”.
Under the terms of the $700 billion bail-out the US Government was to take on bad banking debts. It was hoped that this would rescue beleaguered banks that would then be free to begin lending again.
However, American politicians were growing increasingly wary that voters would regard the scheme as using taxpayers’ money to save wealthy Wall Street banks who should be allowed to fail.
The rejection of the package - blamed on the Republicans - was branded as potentially one of the most significant financial events in a generation.
The meltdown in America came after financial markets in Britain, Europe and Asia had already suffered one of the worst days on record amid growing doubts over the rescue package.
The London stock market fell by more than five per cent on Monday - the biggest one-day fall in the current crisis and the eighth worst ever.
The pound also recorded its biggest one day fall in more than 15 years amid growing fears over the state of the British economy.
The financial turmoil came in the wake of Alistair Darling’s announcement that Bradford & Bingley (B&B), Britain’s eighth biggest mortgage lender, is to be nationalised.
In Europe and America, governments have been forced to step in to help a further four banks including Belgian giant Fortis - Britain’s third largest motor insurer - and the US’s fourth largest bank Wachovia.
Authorities also intervened to save an Icelandic investment company with links to a number of British high-street chains including Debenhams.
There are now growing fears that despite the emergency interventions, Government action is failing to quell the growing panic and distrust which is plaguing the financial markets. Experts warned that the effects on the economy and on household finances will be severe.
The former Prime Minister Tony Blair said: “What has happened has left everybody surprised, shocked, bewildered. Not even the experts were able to predict the full scale of this. In these circumstances there is no guide book, no rules on what to do.”
On another day of turbulence:
*Shares in Royal Bank of Scotland (RBS) dropped by more than 20 per cent amid concerns over its exposure to the ongoing credit crisis. Shares in the bank closed down 13 per cent as the B&B nationalisation failed to end the turbulence facing Britain’s banks.
*The FTSE-100 index of Britain’s biggest companies fell by 270 points to close at 4,818. A global index of stock markets fell by the largest amount in more than a decade. The Dow Jones index suffered its biggest daily points fall - down 777.7 points (6.98 per cent) at 10365.4.
*Mortgage lending ground to a halt during August. It fell 95 per cent to just £143 million - the lowest since records began in 1993 - as banks rationed credit. The figures prompted warnings that further house price falls are now imminent.
*Homeowners were warned that mortgage rates will rise. Northern Rock, Nationwide and HBOS are among those increasing home loan costs.
Financial regulators said that although they were confident that other banks were secure, the turmoil had not yet ended.
Lord Turner, the new head of the Financial Services Authority (FSA), said: “We are not necessarily right at the end of this process,” he said.
Regulators and central banks are particularly concerned that despite pouring billions of pounds into the financial markets, banks are still reluctant to lend money. The latest mortgage figures are causing particular alarm.
George Osborne, the shadow Chancellor, said the situation had to be stabilised, and then politicians must reflect on what caused the economic “wreckage”. He offered to hold talks with Labour to work out a rescue solution in this country.
He said: “The task at hand on a day like this is to work out what we can do to stabilise the situation, what the American government can do now they have lost the vote in Congress." |
It's all going down the 
atm  |
|
| Back to top |
|
|
Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
|
| Posted: Mon Sep 29, 2008 10:41 pm Post subject: |
|
|
| Quote: |  |
The Next Level Show - 30th September, 2008
9/11 & Globalist CrashConomics
The carefully staged timing of the inevitable implosion of
the US financial markets has now hit a rock of public resistance.
Fintan Dunne details how these planned events are inextricably
linked to 9/11 and the Globalist New Economic Order; and shows
how we got here and where we are soon headed.
LISTEN:
Broadband Mp3 Audio 
http://BreakForNews.com/audio/BeautifulTruth080930a.mp3
Click to Play or Right-Click to 'Save As' and Download.
Dialup Mp3 Audio
http://BreakForNews.com/audio/BeautifulTruth080930.mp3
Click to Play or Right-Click to 'Save As' and Download.
| Quote: | 
"The tectonic plates beneath the world financial
system are shifting, and there is going to be
a new financial world order that will be born of this."
- Peter Kenny, managing director at Knight Capital Group Inc
http://www.bloomberg.com/apps/news?pid=20601087&sid=abVpg8xJDMWk&refer=home |
_________________
Minds are like parachutes.
They only function when open. |
|
| Back to top |
|
|
atm
Joined: 16 Apr 2006
Posts: 2749
|
| Posted: Mon Sep 29, 2008 10:59 pm Post subject: |
|
|
Fintan, you are posting faster than I can read (and I can speed-read!).
Watch Max Kieser lay it on the blackjack table, once again. The big
blind just got bigger; the bailout has been bailed out [of the House]: it's
homeless, foreclosed but, still we shall have to foot the [failed] bill (ionaires) malfeasence.
Anyway, I Congress (digress, shurely? - Ed):
atm |
|
| Back to top |
|
|
Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
|
| Posted: Mon Sep 29, 2008 11:29 pm Post subject: |
|
|
Lol
Max is a great exponent of making points visually.
That toilet paper for making dollars gag is priceless. (no pun intended)
Previously he used a banana to indicate the state of the Republic.
But I don't see any consideration of the fact that JPM/Goldman
have a green light to take out the US middle classs as part of
the Globalist agenda. Max just demonizes the greedy bankers...
_________________
Minds are like parachutes.
They only function when open. |
|
| Back to top |
|
|
atm
Joined: 16 Apr 2006
Posts: 2749
|
| Posted: Tue Sep 30, 2008 12:04 am Post subject: |
|
|
Yes, Fintan, you are correct. However, that does not make him incorrect. In a perfect world imperfection is priceless. Here's the rub. Go and see what Don Harrold is blathering on about right now.
The very timely, predictable death of Ron Paul Newman? Give me an aspartame injection (I need to lose weight anyway). Fintan, get Max on your radio show. You had Ron Paul, a coup de grace, par excellence.
Getting Max Kieser onto 'The Beautiful Truth' should be no problemo.
Heck, I'll even get the mobile phone number of Alan Greenspan for you.
Well, perhaps not (yet).
However, Max Kieser would be more than happy to appear on your (and Kathy's) esteemed radio show. BTW, your audience in SE Asia is growing exponentially. Nothing to do with I, you understand.
Well, actually I have been like a virus on Viagra plugging BFN over here, with accolades aplomb. You owe me a case of Chang.
Or a premiership football club from Manchester (or is that the UAE these days?).
Toxin Sinatra has a lot to answer for (but that's for my other thread).
atm
Last edited by atm on Tue Sep 30, 2008 3:12 am; edited 1 time in total |
|
| Back to top |
|
|
atm
Joined: 16 Apr 2006
Posts: 2749
|
|
| Back to top |
|
|
rustyh
Joined: 17 Sep 2006
Posts: 390
Location: A Wonderful World
|
| Posted: Tue Sep 30, 2008 1:34 am Post subject: |
|
|
With all the shit hitting the fan i thought a little humour interlude might give us a bit of a giggle.
| Quote: | BREAKING NEWS! :
Following the huge financial problems rocking the very foundations of the U.S. economy and the run on Northern Rock and Bradford & Bingley in the UK, uncertainty has now hit Japan hard.
In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.
Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.
While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.
Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal... |
|
|
| Back to top |
|
|
atm
Joined: 16 Apr 2006
Posts: 2749
|
| Posted: Tue Sep 30, 2008 1:46 am Post subject: |
|
|
ROTFLMAO! Why didn't I thunk of dat?
atm |
|
| Back to top |
|
|
atm
Joined: 16 Apr 2006
Posts: 2749
|
| Posted: Tue Sep 30, 2008 7:57 am Post subject: |
|
|
Oh dear. Got cash in Irish banks? The Irish Republican government are not allowing depositors to get their savings out and they are only guaranteeing those deposits for a lousy 24 months but, you won't read the former below. Someone I know has tried to get significant sums out to offshore accounts but was told "No". What is Irish Gaelic for "No"?
| Quote: |
Government guarantees deposits for two years
By Dara Doyle and Ian Guider
Tuesday September 30 2008
http://www.independent.ie/business/personal-finance/latest-news/government-guarantees-deposits-for-two-years-1486172.html
The Government has said it will guarantee Irish banks' deposits and debts for two years, seeking to calm investor concern after banking shares fell 26 percent in Dublin yesterday.
''The Government has decided to put in place with immediate effect a guarantee arrangement to safeguard all deposits, covered bonds, senior debt and dated subordinated debt,'' the finance ministry said in an e-mailed statement.
The guarantee will last until Sept. 2010 and covers Allied Irish Banks Plc, Bank of Ireland Plc, Anglo Irish Bank Corp. Plc, Irish Life and Permanent Plc, Irish Nationwide Building Society, the Educational Building Society and ''such specific subsidiaries as may be approved by government,'' the ministry said.
Ireland joins governments around the world, which have stepped in to protect banks following the seizure in credit markets. The U.K Government yesterday took control of Bradford & Bingley Plc and Fortis received an 11.2 billion euros ($16.3 billion) injection by the governments of Belgium, the Netherlands and Luxembourg to boost its capital base.
''This is an unbelievably positive move for the Irish banking sector,'' said Kevin McConnell, head of research at Bloxham Stockbrokers in Dublin, in a phone interview. ''It's really exceptional.''
Ireland became the first euro-area economy to slide into a recession, as homebuilding plunged amid a slump in house prices.
House prices fell 9.4 percent in July from a year earlier. Bank of Ireland Plc, the country's second-biggest bank, said on Sept. 17 it will slash its dividend by 50 percent and post a drop in first-half profit as loan losses mount.
The guarantee is being provided at a charge to the banks and is subject to ''specific terms and conditions so that the taxpayers' interest can be protected,'' the ministry said. (Bloomberg)
- Dara Doyle and Ian Guider
|
| Quote: |
Deposit guarantee draws mixed reaction
JASON MICHAEL and CHARLIE TAYLOR
Last Updated: Tuesday, September 30, 2008, 12:52
http://www.irishtimes.com/newspaper/breaking/2008/0930/breaking25.htm
The announcement from the Government this morning that a guarantee will apply on all Irish bank deposits has drawn mixed reaction from Opposition parties and trade unions.
The Government this morning placed an unlimited two-year guarantee on all deposits and certain debt in six Irish banks in a move designed to “safeguard the Irish financial system”.
Commenting on the developments this morning, Fine Gael leader Enda Kenny said: “Fine Gael has always said that it would support necessary measures to safeguard Ireland’s economic future. The move this morning by the Government to guarantee the deposits of Irish banks is, I believe, one such measure.
"Our welcome is a guarded one, however, as there are still many details that must be provided to the public and questions that must be answered surrounding the new arrangement."
Mr Kenny added: “My primary concern at this point is to ensure that the Irish taxpayer is the primary beneficiary of the announcements made today."
Speaking on RTÉ’s Morning Ireland , Fine Gael finance spokesman Richard Bruton, said: “There are huge lessons for regulation that have come out of this. Those lessons have to be applied, and they have to be applied in the medium term because now with the State acting as guarantee on these deposits, Ireland has to have . . . a different regulatory system.”
Commenting on the cost of the guarantee to the banks, Mr Bruton said: “The basis upon which charge will be calculated is an important question that needs to be answered in the course of the day, and the Government, in my view, had to make this move.”
“The move seems to be having a steadying effect, but we have to make sure that it has also protected taxpayers and to make sure that this doesn’t become licence for poor lending practices in the future – that means there has to be regulatory change with immediate effect,” he added.
Labour leader Eamon Gilmore said the Taoiseach had to come to the Dáil today "to account for the extraordinary action" taken by the Government this morning.
"The Government has effectively written the biggest blank cheque in history, exposing the Irish taxpayer to enormous liabilities. Estimates of the potential exposure vary between two and three times Irish GNP, perhaps as much as €500bn.
"This move will also have very serious consequences for the Irish debt level and the cost of borrowing for this country. This may in turn have implications for the maintenance of key public services," Mr Gilmore said.
He added that the future economic welfare of the Irish people was now "inextricably linked" to that of the six Irish banks who are to be the beneficiaries of the Government plan.
Mr Gilmore continued: "It is also not clear what authority the Government had to make such an offer to the banks, without the authorisations of the Dáil. We still have little clarity from Government as to the terms associated with this deal."
In a statement, Labour spokeswoman on finance Joan Burton said: "The speed with which the Government has moved to rescue the banking sector is in stark contrast to the blanket refusal to assist other sectors of the Irish economy that have been in trouble and in particular to their total indifference to the plight of the 70,000 workers who have lost their jobs in the last year alone."
Sinn Féin welcomed the government’s decision to guarantee deposits, but the party called on the Minister for Finance to outline what quid pro quo he has secured from the banking sector.
“Maintaining international confidence in the Irish banking system is a priority however today must be a line in the sand of reckless practices in the Irish financial sector and a new day of responsible banking must begin," said Sinn Féin finance spokesman Arthur Morgan.
Siptu president Jack O’Connor said the move by Mr Lenihan "essentially represents an exercise in shoring up the pyramid" but added that the "gilt edged guarantee" will build confidence.
"However, there is an aspect of this that is particularly objectionable to ordinary people. It entails guarantees to those who have insisted for years on a ruthless free market for everyone else but are not able to play by the same rules themselves," Mr O'Connor said.
"Instead they are relying on the blackmail of potential economic catastrophe to be given an each-way bet at the expense of ordinary taxpayers."
He continued: "There should be no golden parachute for profligacy, and financial institutions should be obliged to pay the Irish taxpayer at a premium rate for this gilt edged guarantee.”
The business community broadly welcomed today's announcement, with employers' group Ibec saying it would help remove uncertainty.
“The banking sector is vital to the effective functioning of business and the economy generally, and the measures announced today should have a positive impact on the ability of businesses to acquire finance and continue normal investment activities. Government has shown sound leadership in the manner in which it has addressed this challenging situation,” said Ibec director general Turlough O’Sullivan.
The Irish Banking Federation, which represents over 70 financial institutions also welcomed today's announcement.
"The Government decision to provide a guarantee arrangement to safeguard deposits in the banking system here, together with the decision to raise the threshold of the Deposit Guarantee Scheme, means that customers of all deposit-taking institutions operating in the State can rest assured that their deposits are secure and that they enjoy the highest levels of protection," it said.
© 2008 irishtimes.com |
|
|
| Back to top |
|
|
Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
|
| Posted: Tue Sep 30, 2008 8:30 am Post subject: |
|
|
The Irish economic situation needs to be put in some context.
Check out the figures:
| Quote: | The Central Statistics Office said GDP had contracted by 0.5% in the
three months to the end of June. The economy had shrunk by 0.3% in
the first quarter of the year. It is the first time Ireland has experienced
a recession since 1983. |
Ireland is known as the Celtic Tiger because it has had the world's highest
GDP growth for almost ten years. Savings levels are high and underlying
economy -excepting construction- is still strong. There's no sub-prime
and the GDP fall is a mere half of a percent. However the economy is
exposed to whatever happens internationaly.
But bear in mind that the NWO media are trying to undermine Irish national
self-confidence in the hope of softening them up ahead of a rerun of the
EU Treaty vote in the fall of 2009. So far it's not working.
Hadn't heard of the issue you mention with getting money out. Watching...
Agreed re Don Harrold who I dissed in a recent post.
The guy been totally out to lunch on all this.....
_________________
Minds are like parachutes.
They only function when open. |
|
| Back to top |
|
|
RedMahna
Joined: 07 Sep 2006
Posts: 887
Location: On or near a computer
|
| Posted: Tue Sep 30, 2008 3:10 pm Post subject: |
|
|
??? would it be premature to say that the "market" has an uncanny ability to "correct" itself when left (walking away pouting) to its own devices without the charitable contributions of the public ??
seems all the chop-block takeovers have just begun to get ironed out. lots of that going on as you know, almost by the minute.
and would it not then "eliminate" the magic debt into lalaland if it had to.. if they realized they really had to... cos no one's falling for their shit anymore?
they tried to scare us with - "but no one will be able to borrow, the lending system is frozen, where will your payroll check come from," etc, etc...
well, i'm still getting HELOC and CC junk mail. and so is everyone else with decent credit. certainly the businesses who operate in the black or with excellent terms schedules have no problem continuing their operations.
why in the hell NOT correct all entities that can't float on their own merits?
yeah, it will be messy.
BUT hopefully we can keep this road block up - A MIRROR... for those who lied that they MUST get bailed out.
A MIRROR, so they can see how it feels to be threatened with their own medicine.
| Quote: | | Sept . 30 ( Bloomberg ) - - Ford Motor Co . , the second - largest US automaker , probably will repay $1.5 billion in debt coming due tomorrow without tapping a revolving credit line |
Ford musta had some moola stashed in his mattress, eh?
red
_________________
speechless for once. |
|
| Back to top |
|
|
Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
|
| Posted: Tue Sep 30, 2008 3:23 pm Post subject: |
|
|
| Quote: | | RedMahna: ...cos no one's falling for their shit anymore? |
Yeah lol
See the following:
| Quote: | Sentiment against the rich, Wall Street,
CEOs still a major hurdle for bailout
Phoenix Business Journal - by Mike Sunnucks
Underlying public distrust of the wealthy -- along with Wall Street and
Washington -- and the perception the $700 billion mortgage bailout will
help big banks and rich CEOs continues to be the main stumbling block
and minefield for passage of a rescue package aimed at keeping credit
lines from freezing.
Opposition from both sides of the aisle in the failed U.S. House bailout
vote showed the populist sentiment against bailing out Wall Street and its
CEOs.
“The average guy just doesn’t feel much regard for them,” said Randy
Pullen, chairman of the Arizona Republican Party and chief executive of
Wage Watch, a Scottsdale based consulting firm.
Pullen said high Wall Street executive salaries and bonuses and the public
opulence of wealthy CEOs and investors is also not helping the bailout’s
cause with Main Street, small businesses or voters.
Public sentiment against the bailout is furthered by the fact Wall Street
and bank CEOs reap massive salaries and bonuses. For example,
JPMorgan Chase & Co. chief executive Jamie Dimon made $28 million
in 2007. Goldman Sachs CEO Lloyd Blankfein earned $70 million in
compensation, according to company proxy reports.
That fact is not lost on voters and skeptics from both ends of the political
spectrum who are aware that such bailouts aren’t offered to distressed
consumers or small businesses. Those skeptics are also aware of growing
concentrations of wealth in the U.S. and its the rich have done well in
recent years while the middle and working classes are challenged with
stagnant wages, job outsourcing, inflation and high-cost health insurance.
“The sentiment of the average person is why do we keep helping out Wall
Street when nothing is being done to help the average American. The
financially savvy folks know we need to act and do something to stabilize
the market,” said state Rep. Theresa Ulmer, D-Yuma. She wants to see
more help for distressed mortgage holders.
The U.S. House shot down the bailout plan despite support for it from the
White House, congressional leaders, business groups and Wall Street,
with warnings that credit markets will freeze and more banks will fail
without action.
“There’s a sense that this will just encourage irresponsible behavior later
and, yes that it’s aimed at bailing already-rich individuals out of their
financial travails. Frankly, that’s common sense and it has a large
element of truth to it,” said Byron Schlomach, economist for the
Goldwater Institute think tank.
All eight Arizona members of the U.S. House voted against the bailout
Monday.
http://www.bizjournals.com/phoenix/stories/2008/09/29/daily25.html |
_________________
Minds are like parachutes.
They only function when open.
Last edited by Fintan on Tue Sep 30, 2008 3:59 pm; edited 1 time in total |
|
| Back to top |
|
|
RedMahna
Joined: 07 Sep 2006
Posts: 887
Location: On or near a computer
|
| Posted: Tue Sep 30, 2008 3:40 pm Post subject: |
|
|
sentiments in SW VA:
IF WE GO DOWN, SO TOO SHALL THEY!!!
amazing, it's the first time i've agreed with the natives here.
hey, there are masses of unemployed folks not accounted for. i bet our leaders forgot about them. i know they did. haha. i didn't. i'm one of them.
well, maybe this day is the few we have to celebrate as a win of sorts.
i hope we the people get drunk on justice.
red
_________________
speechless for once. |
|
| Back to top |
|
|
hawkwind
Joined: 19 Jan 2006
Posts: 524
|
| Posted: Tue Sep 30, 2008 4:27 pm Post subject: |
|
|
Well since some folks don't yet appreciate irony ... let's try again.
Harry Chapin sings DANCE BAND on the TITANIC Live
I still miss Harry, saw him dozens of times in the olden days ...
- Hawk
Good audios big F! Let's all go down together ...
_________________
"We'll buy some drugs and watch a band
then jump in a river hold hands ... "
- Bowie |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
