U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-13-2008, 10:43 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,473 posts, read 13,409,088 times
Reputation: 6344

Advertisements

It seems the writedowns aren't over yet.....

US banks Citigroup and Merrill Lynch reveal fresh $15bn loss - Times Online
Reply With Quote Quick reply to this message

 
Old 04-13-2008, 11:14 AM
 
1,820 posts, read 4,330,753 times
Reputation: 1187
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.
Reply With Quote Quick reply to this message
 
Old 04-13-2008, 11:50 AM
 
6,585 posts, read 22,378,491 times
Reputation: 3170
What does it mean to "write down" something?
Reply With Quote Quick reply to this message
 
Old 04-13-2008, 11:53 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,473 posts, read 13,409,088 times
Reputation: 6344
write down definition - Google Search

To reduce the recorded value of an asset in an account, eg. owing to depreciation
Reply With Quote Quick reply to this message
 
Old 04-13-2008, 11:54 AM
 
Location: home state of Myrtle Beach!
6,233 posts, read 18,119,501 times
Reputation: 3419
Quote:
Originally Posted by Simple Living View Post
Wouldn't bother me if the US financial system collapsed. It needs to be reworked anyway.
I wonder when we'll switch to EURO's.
Reply With Quote Quick reply to this message
 
Old 04-13-2008, 01:25 PM
 
Location: Great State of Texas
86,093 posts, read 69,870,497 times
Reputation: 27519
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.
Reply With Quote Quick reply to this message
 
Old 04-13-2008, 11:12 PM
 
Location: Backwoods of Maine
6,940 posts, read 7,654,041 times
Reputation: 17837
Quote:
Originally Posted by HappyTexan View Post
I think we will continue to see losses posted for the next few quarters until all the mess has been made public.
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...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top