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Old 09-18-2008, 07:41 AM
 
505 posts, read 1,622,905 times
Reputation: 208

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Quote:
Originally Posted by wileynj View Post
Looks like Wamu is up for sale..anyone interested? 180 billion in deposits... the math doesn't add up! Now the press is putting the fear of FDIC not be able to cover all of our monies... I'm sure the banks will be crowded tomorrow with people withdrawing their money! I have an ING account... I wonder how safe that is??? Back to the "First National Bank of Mattress!"
Completely baseless, sesnationalist journalism at its finest.

UPDATE 1-FDIC insurance fund can cover high losses -- Bair | Markets | Markets News | Reuters
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Old 09-18-2008, 07:51 AM
 
Location: Here but I spend time There.
1,972 posts, read 5,072,114 times
Reputation: 556
:::HEADLINES NEWSFLASH:::

It's gotten so bad that rumor has it, Santa is filing for chapter 11 since not even God can secure some loans on this market. Santa even tried the devil for a bridge loan but the devil is in talks w/ God about a possible merger. Meanwhile the toothfairy is in talk w/ Santa about a possible buyout/takeover.

In the meantime, local loan shark Vinny Bagadonuts is standing by awaiting everyone to turn to him.
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Old 09-18-2008, 08:03 AM
 
Location: Stewartsville, NJ
7,577 posts, read 21,033,940 times
Reputation: 1253
Quote:
Originally Posted by Alex07860 View Post
:::HEADLINES NEWSFLASH:::

It's gotten so bad that rumor has it, Santa is filing for chapter 11 since not even God can secure some loans on this market. Santa even tried the devil for a bridge loan but the devil is in talks w/ God about a possible merger. Meanwhile the toothfairy is in talk w/ Santa about a possible buyout/takeover.

In the meantime, local loan shark Vinny Bagadonuts is standing by awaiting everyone to turn to him.
LMAO!!! I don't doubt it's true. I saw the Easter Bunny down at the local pub..and man was he hammered! Crying that the price of eggs this year is going to put him out of business. Said they are coming out with a synthetic substitute and another bunny has already cornered the market in NJ.
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Old 09-18-2008, 08:05 AM
 
Location: Stewartsville, NJ
7,577 posts, read 21,033,940 times
Reputation: 1253
Quote:
Originally Posted by tallguylehigh View Post
Completely baseless, sesnationalist journalism at its finest.

UPDATE 1-FDIC insurance fund can cover high losses -- Bair | Markets | Markets News | Reuters
AGREED! I was out and about yesterday and I couldn't help but notice how busy all the stores and restaurants were. And at least 2 dozen planes flew over my house last night in a matter of 5 mins. What recession?????????
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Old 09-18-2008, 08:13 AM
 
Location: Rahway N.J
2,093 posts, read 5,118,592 times
Reputation: 3360
Quote:
Originally Posted by EEEPNJ View Post
It's really scary out there financially - so what do you think?

I'm even worried about FDIC. SO many banks are just tettering on disaster, and if too many fail, can the US even live up to FDIC?

This is NOT my area of expertise, I'd like to see what everyone else thinks.


It is like taking a long car trip with your parents, all you can do is ask dad every five minutes (ARE WE THERE YET)


Having been on Wall St over 25 years
I would not worry about the FDIC (hey, it is the goverment, if they run out of money they just print some MORE)

I would worry about the people that worked for those firms for a long time and now have no job/ no pension/ and whatever savings they have will be gone in a flash...

The sad thing is the people that ran those companys will walk away with a nice piece of change...Here is my take on what happens

Merrill CEO talking to Bank of america..............Hey look what i did for my company


CEO of bank of america answers........Very nice , we will take it from here, here is a few million now just go away.........

What is even worse is that the same CEO will be back on Wall st with another firm in no time at all , while the rest of those people that lost their jobs will do any work they can get just to pay the mortgage
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Old 09-18-2008, 08:13 AM
 
Location: New Jersey/Florida
5,651 posts, read 11,251,066 times
Reputation: 3962
Quote:
Originally Posted by Alex07860 View Post
:::HEADLINES NEWSFLASH:::

It's gotten so bad that rumor has it, Santa is filing for chapter 11 since not even God can secure some loans on this market. Santa even tried the devil for a bridge loan but the devil is in talks w/ God about a possible merger. Meanwhile the toothfairy is in talk w/ Santa about a possible buyout/takeover.

In the meantime, local loan shark Vinny Bagadonuts is standing by awaiting everyone to turn to him.
I just seen Vinny B filling Santas Bags with money. Now santa can feed his deer and bring the kids some Made in China poison tainted toys for Christmas. How many points do you think Vinnie gets for his loan that is backed 100% by the US Mafia.
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Old 09-18-2008, 08:13 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,153 posts, read 26,121,159 times
Reputation: 11299
Quote:
Originally Posted by JERSEY MAN View Post
Who needs money when we have the internet to satisfy our needs. Lets have a meeting at the George Washington Bridge at 5PM tomorrow and we can all jump off together. Give me a tent in Colorado a fishing pole and some basic supplies and I'll be more happy than the rat race that we are stuck in.
Fly fishing???
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Old 09-18-2008, 08:15 AM
 
Location: Here but I spend time There.
1,972 posts, read 5,072,114 times
Reputation: 556
Quote:
Originally Posted by wileynj View Post
LMAO!!! I don't doubt it's true. I saw the Easter Bunny down at the local pub..and man was he hammered! Crying that the price of eggs this year is going to put him out of business. Said they are coming out with a synthetic substitute and another bunny has already cornered the market in NJ.
:::Another newsflash:::
Easter Bunny caught for DWI coming out of pub517. Officer Billy Bob from Frelingfarfenuggen said he noticed the Easter bunny driving erracticly and pulled him over. Upon inspecting the vehicle, the officer found 2 kilos of cocaine, 2 AK-47. When questioned the Easter Bunny responded "Desperate times require desperate measures, the price of oil has skyrocketed and I cannot longer afford to import the cocoa beans to make the chocolates, and since I couldn't get financing, the colombian cartel seemed like a good idea to merge w/"
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Old 09-18-2008, 08:17 AM
 
Location: Here but I spend time There.
1,972 posts, read 5,072,114 times
Reputation: 556
Quote:
Originally Posted by JERSEY MAN View Post
I just seen Vinny B filling Santas Bags with money. Now santa can feed his deer and bring the kids some Made in China poison tainted toys for Christmas. How many points do you think Vinnie gets for his loan that is backed 100% by the US Mafia.

Update!!!!

Santa seen in a cast and using crushes! Vinny B says "I have no comment"
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Old 09-18-2008, 08:40 AM
 
Location: The Beautiful Pocono Mountains
5,450 posts, read 8,021,882 times
Reputation: 2991
Quote:
Originally Posted by BrianG View Post
It is like taking a long car trip with your parents, all you can do is ask dad every five minutes (ARE WE THERE YET)


Having been on Wall St over 25 years
I would not worry about the FDIC (hey, it is the goverment, if they run out of money they just print some MORE)

I would worry about the people that worked for those firms for a long time and now have no job/ no pension/ and whatever savings they have will be gone in a flash...

The sad thing is the people that ran those companys will walk away with a nice piece of change...Here is my take on what happens

Merrill CEO talking to Bank of america..............Hey look what i did for my company


CEO of bank of america answers........Very nice , we will take it from here, here is a few million now just go away.........

What is even worse is that the same CEO will be back on Wall st with another firm in no time at all , while the rest of those people that lost their jobs will do any work they can get just to pay the mortgage
So, seriously, having been on Wall St for that long, you've seen the tides change.
How bad is it now? And no, I'm not looking for insider trading info. So, Feds, please no knocking on my door.
Just want an opinion of the current conditions and an honest one, not an overly paranoid one, unless there is reason to be paranoid.
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