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  1. #41
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    remember.

    the dow drop would have been even worse than this. but there is a freeze on short selling on financial stocks.

    that 700 dow point drop is mostly from non financial companies.
    It's a knee-jerk reaction anyway.

    This act wouldn't of done anything in the short term - so long as the banks remain solvent, things will continue to flow. I don't see this bail out as crucial because it doesn't have much intrinsic value - it doesn't prevent another liquidity trap, etc. That is, so long as things keep moving, things can work themselves out.

    On the other hand, I don't think things are resolved - further intervention will be positive. If not in a generic sense, like this package, then probably with more particulars. The reason why this was a good idea is because it would protect a lot more banks (which avoids the whole "limit of consolidation" that would re-invoke the financial collapse - that is, not enough money to make banks solvent)

    The fundamental problem is that while it was known that many were virtually insolvent, nothing was done. Bad risk management, bad regulation and bad transparency... and gutless government oversight.

  2. #42
    mountain surfing nomadic's Avatar
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    ^ yeah i completely agree

    im not sure if its a knee jerk reaction. i think traders are pricing in a lower chance of a fix.

    there is definitely more bank failures coming up. sucks...

    damm i hope school loans don't freeze up...

  3. #43
    Striving for balance Little Linguist's Avatar
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    Quote Originally Posted by oberon View Post
    ...and the Dow is down 600+ points as a result.

    Hmmm...
    No offense, but you're going *down* folks - BADLY.

    My advice - get out while the going's good.

    Oh yeah, and btw not because the dow fell like that - THAT has happened before.

    The other shit has also happened before, though the last time it was like that was 1929. Heh.
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  4. #44
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    Quote Originally Posted by Little Linguist View Post
    No offense, but you're going *down* folks - BADLY.

    My advice - get out while the going's good.

    Oh yeah, and btw not because the dow fell like that - THAT has happened before.

    The other shit has also happened before, though the last time it was like that was 1929. Heh.
    The best part is that it only goes DOWN because everyone's trying to get out before everyone else. The market is entirely based on speculation, not reality.

  5. #45
    Striving for balance Little Linguist's Avatar
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    Quote Originally Posted by Jack Flak View Post
    The best part is that it only goes DOWN because everyone's trying to get out before everyone else. The market is entirely based on speculation, not reality.
    Yeah heh - that's the great part. What a study on human psychology. Your whole middle class is based on debt. TOTALLY. Heh and when push comes to shove, the middle class gets shoved in the toilet.


    Ahhhhh <leans back in a rocking chair> how I long to see how they will deal with this mess.
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  6. #46
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by Jack Flak View Post
    The best part is that it only goes DOWN because everyone's trying to get out before everyone else. The market is entirely based on speculation, not reality.
    the dow hasn't dropped to the point of armaggedon bc there is still a chance of a congress fix very soon.

    but it is based on reality. make no mistake about that. there are times people panick and overreact, but it is very very much based on reality.

    otherwise, if you think the market overreacts, by all means, the best way to prove that is to put money in the market. if not, then thats as real as it gets.

  7. #47
    Striving for balance Little Linguist's Avatar
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    Heh you know one way the country is trying to handle the situation - print more money. There was another country that tried to get out of a crisis that way, and it ended in the second world war. Lets hope your politicians become smarter.
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  8. #48
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    Quote Originally Posted by Little Linguist View Post
    Ahhhhh <leans back in a rocking chair> how I long to see how they will deal with this mess.
    a lot of analysts believe that europe's credit and banking crisis will be as bad, if not worse than the us right now.

    there was 3 bank failures in europe today.

  9. #49
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    Quote Originally Posted by Modern Nomad View Post
    the dow hasn't dropped to the point of armaggedon bc there is still a chance of a congress fix very soon.

    but it is based on reality. make no mistake about that. there are times people panick and overreact, but it is very very much based on reality.

    otherwise, if you think the market overreacts, by all means, the best way to prove that is to put money in the market. if not, then thats as real as it gets.
    Yeah but they have to do something. lowering interest rates did not help. So let's try printing money, oh yeah, and asking all the other nations in the world to help us get out of debt and make us even more dependent on them than we already are. hahahahahahahahahhaha Oh lord, please tell me Americans are not so naive - PLEASE. :rolli:
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  10. #50
    Striving for balance Little Linguist's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    a lot of analysts believe that europe's credit and banking crisis will be as bad, if not worse than the us right now.

    there was 3 bank failures in europe today.
    I KNOW that - we have the brilliant American folks to thank for that. And then they have the balls to come to us and ask US for money after our banks are also in trouble. Ay yi yi. :rolli:

    Though I have to admit our bankers were also pretty damned stupid to rely on Americans so much. Don't they know you DON'T put all your eggs in one basket. Shit.
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