Sunday, December 27, 2009, 3:09PM ET - U.S. Markets Closed.
The stock market went down for 4 days, so as usual Bernanke made a speech to prop up the market...he cant lower rates any more....all the bailouts and rate drops over the past year did nothing but temporarily prop up the stock market for a day or two...instead, they should have created jobs and manufacturing...
It is time for the government and the markets to accept that major financial institutions in this country can and will fail so let them go. Lehman is gone and so is Washington Mutual, Bear Stearns and Merrill Lynch. It is time to let Citigroup go. I am not a mortgage holder and continue to lose money in depreciated bank stocks, in taxes going to save poorly managed financial insitutions and finally the loss of my job because the bank that provided a line of credit to my company went under. I have no sympathy left for companies that fail!
The U.S. Treasury web site provides detailed information about who has received money, how much and when the money was provided. Also what the government got in return.
The U.S. Treasury web site provides detailed information about who has received money, how much and when the money was provided. Also what the government got in return.
Why doesn't the government force the mortgage companies to reduce the percentage rate on all mortgages to 4% with no penalty. That would put money in peoples pocket and it might devert more people from filing for bankruptcy and it would not cost a dime. any thoughts
The velocity of money will not stand still. It may not be going through the established banks, but it won't stand still.
why bother presenting an idea that would actually work? There is no room for such ideas! I think this is a great idea... but it won't happen. Why? Because the institutions like JPM (which essentially own the treasury/Fed), would be declared "troubled". Now why would the bank that owns the Fed allow themselves to be liquidated? I say we just stop giving them money. Also, cancel our accounts with them, and put them into local credit unions. Hit them where it hurts.
citgroup has been ran into the ground by the dumb f***ers who run it. f***k bob rubin and pandit
They are still trying to fill their pockets with OUR money. sounds like PONZI to me. the top get richer and the bottom loses!. I think all americans who have a mortgage should rally together and stop paying for at least 3 months. what can thay do to all of us. We need to show them that the main street is who they ripped off. I say BOYCOTT the banks. They don't have enough police or federal agents to or collection agencies to retaliate. Its time the american people stand together and have FAITH in one another. all they are trying to do is SCARE everyone so they don lose THEIR @#$.
It would be better to start new banks than giving the current thief banks the money. Got to small regional banks that are fluid. And for those on Wall Street go to skyscrapers and JUMP...
Citibank needs to replace their CEO! He won't be able to bring the company out of this crisis!
Read about Toxic Assets at www.mortgagedoctors.blogspot.com
Mr. Rosner's analysis is exactly correct, but I think he has failed to understand why things unfolded as they did. I believe that Mr. Paulson's primary goal was to preserve the big banks friendly to Goldman Sachs at ANY cost to the taxpayer and without regard to their management quality. Along the way he saw the chance to off an old competitor, Lehman Brothers, and took it. The banks weren't forced into write-downs because it would have shown them to be "naked swimmers" (h/t to Warren Buffet). We don't know how Timothy Geithner will change the system, but since he's been in the room with Paulson since the start, I don't expect much change. If you work on Wall Street, stay on GS' good side.
BOYCOTT THE BANKS!!! they are just waiting to impose the 2nd round of screwing main st. They need to take the LOSS on the BAD mortgages THEY sold, PULL THE FORECLOSURES OUT OF THE SYSTEM COMPLETELY! Then they need to REFORM the REAL ESTATE industry and RESET the values of our Homes. I have lost $600,000.00 in equity. That sounds like MADOF to me. the government is stepping into every avenue but leaving the VALUATION formulas of apprasing of real estate as they were. WE NEED REAL ESTATE REFORM!! WHEN IS OUR GOVERMENT GOING TO SAVE US...NOT THEIR BUDDIES IN WASHINGTON AND WALL STREET!!! All they care about is their bottom line!
Flush the bad assets out. Auction off the bad assets like on e-Bay or whatever it takes to get rid of them. Better start lending to good borrowers, creditors and businesses because that's what they got taxpayer's money for. It's all the fault of George Bush who led us on this path of economic morass, squandered trillions of dollars on useless wars, and nothing to show for it. I'm glad the damn bastard is getting out.
Wow, a good idea! Bet the government will do the opposite!
i like the way only after $350BILLION has disappeared with no accounting that congress is NOW saying they need to account for it. so effectively congress has just written off $350billion of taxpayer money at a whim. The whole of congress should be fired and their salaries garnished until the $350billion is paid back.
Great!!! Nothing like BIG Government. We are doomed.Soon it will be time for all to leave the country to the Liberal Utopian Idiots.
Why do we want to give money to the same people that with their greed have screwed it up to start with. They all speculated on real estate and oil. ruining the economy, and we reward them. They have no business being in business. How many of those people have taken a pay cut, lost there jobs, retirement savings or worse yet lost their country club membership. I bet the number is minuscule.
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Ronny - Tuesday January 13, 2009 01:07PM EST
Hey Ros, 1. Market to market 2. Tier III 3. Sarbanes-Oxley How naked do you want these guys? Lift the kimono? Have you ever seen a banker in the nude? Please give these guys time to dress. Markets are a function of TIME and PRICE.....not FLUSH AND DRAIN.