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04-13-2008, 11:43 AM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,129 posts, read 1,661,192 times
Reputation: 1191
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News, US banks Citigroup and Merrill Lynch reveal fresh $15bn loss
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04-13-2008, 12:14 PM
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To God Be All Glory!
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Join Date: Sep 2007
Location: Lambs Book of Life
1,597 posts, read 1,013,531 times
Reputation: 427
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Then they should stop paying their executives obscene and stop giving them annual bonuses that are larger than most people's yearly salaries. (Which they received despite their "financial hardships," while the real workers made nothing.)
Wouldn't bother me if the US financial system collapsed. It needs to be reworked anyway.
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04-13-2008, 12:50 PM
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Moderator
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Join Date: May 2007
4,827 posts, read 4,188,701 times
Reputation: 1432
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What does it mean to "write down" something?
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04-13-2008, 12:53 PM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,129 posts, read 1,661,192 times
Reputation: 1191
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write down definition - Google Search
To reduce the recorded value of an asset in an account, eg. owing to depreciation
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04-13-2008, 12:54 PM
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Senior Member
Status:
"Merry Christmas!"
(set 8 hours ago)
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Join Date: Aug 2007
Location: US
1,616 posts, read 1,257,497 times
Reputation: 303
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Quote:
Originally Posted by Simple Living
Wouldn't bother me if the US financial system collapsed. It needs to be reworked anyway.
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I wonder when we'll switch to EURO's. |
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04-13-2008, 02:25 PM
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Senior Member
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Join Date: Sep 2007
Location: Great State of Texas
11,151 posts, read 4,169,953 times
Reputation: 2259
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This is going to continue through the rest of 2008. Does anyone think 3 years of ARMs and questionable securities have all been uncovered and written off in the last 3-4 months ?
I think we will continue to see losses posted for the next few quarters until all the mess has been made public.
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04-14-2008, 12:12 AM
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Having All The Fun I Can Stand
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Join Date: Mar 2008
Location: Rhode Island
936 posts, read 590,458 times
Reputation: 898
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Quote:
Originally Posted by HappyTexan
I think we will continue to see losses posted for the next few quarters until all the mess has been made public.
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I think we'll see losses posted for the next few YEARS! Like maybe - 5? And it won't just be the banks "posting losses" or "writing down assets"...it will be us, too! You know how it goes: The big guys get bailed out, the little guys pick up the scraps... |
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