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.
People should listen to what Ron Paul has said in the past about how the Federal Reserve is essentially destroying the value of our curency and reducing our savings.
It is all a giant shell game run by the rich and we the so called middle-class are the suckers who keep on betting.
Yep, the Federal Reserve is also a private corperation much like the oil companys
Ron Paul is GREAT to bad he doesnt have the corperate $$$ and media companys behind him like the others.
We have all democrat imbeciles (in different skins like Bush) running again, each time it gets worse and worse.
....going right down the toilet like the Romans with these banks and charactors destroying the dollar, letting 3rd world people jump our borders to work $3 hr. The rich especiall the people in Texas, Arizona and DC really want to ram this North American Union down our throats.
People are getting so pissed of at the Goverment
I wonder NOT IF but WHEN the Supreme Court decides the 2nd Amendment is unclear and takes everbodys guns away like they did in Austrailia, England and Germany under Hitler
Last edited by RoastBeefJackson; 03-16-2008 at 10:57 AM..
This could effect not only the high end, but the middle market as well. Remember, not everyone who works on Wall Street makes a fortune. Most are actually middle-management types. These are the first to get laid off in a down turn.
100% correct. My wife works at BSC and her whole department excluding manager directors/senior people make under $100,000 a year. There are also alot of secretaries and support people who make under $40,000. Even with my wife working there I am all for letting BSC go under. Free markets mean recessions and we are most likely going into one. Lets let the weak go under and the strong get stronger. Bailing out every company and taking interest rates to 0 could cause a japan like scenario and trust me no one wants that.
Just read that a deal is almost final for JP Mogan to buyout Bear Stearns. Anyone taking a gamble and buying some stocks? Could be a real money maker. Last April, Bear Stearns peaked @ $160 a share!! Now its $30.
Just read that a deal is almost final for JP Mogan to buyout Bear Stearns. Anyone taking a gamble and buying some stocks? Could be a real money maker. Last April, Bear Stearns peaked @ $160 a share!! Now its $30.
Just read that a deal is almost final for JP Mogan to buyout Bear Stearns. Anyone taking a gamble and buying some stocks? Could be a real money maker. Last April, Bear Stearns peaked @ $160 a share!! Now its $30.
Yep.....$2.00 a share for a total......$236 million for Bears Stearns! That includes the really nice HQ in Manhattan. JPMorgan got the deal of the century! It sold for only 30% of its intial IPO in 1985!
JP Morgan purchasing Bears stocks at fire sale prices: 2 bucks a share. The money they are purchasing them with is on loan from the fed, ie, your tax dollars at work! Hmmm! Let them drown, we pay enough taxes now our money is in this crap? geesh!
UNBELIVEABLE!! How can the 5th biggest investment banker crumble in a 16 days? I hate to say it but I believe there is alot more to this story. JP Morgan bought Bear Stearns for 236 million. The Manhattan building alone is worth that. Something fishy here people. The real story will come out soon.
Quote:
Originally Posted by Kbinspections
Yep.....$2.00 a share for a total......$236 million for Bears Stearns! That includes the really nice HQ in Manhattan. JPMorgan got the deal of the century! It sold for only 30% of its intial IPO in 1985!
UNBELIVEABLE!! How can the 5th biggest investment banker crumble in a 16 days? I hate to say it but I believe there is alot more to this story. JP Morgan bought Bear Stearns for 236 million. The Manhattan building alone is worth that. Something fishy here people. The real story will come out soon.
Arthur Anderson disappeared fast, Enron, Wachovia Securities is on it's way, various banks, mortgage lenders, hundreds of companies during the dot com and b2b busts and many more where the name is still around but the company attached to it is long gone.
The real story is that NYC (like anywhere else) could theoretically loose a large number of firms virtually overnight who have no assets other than office furniture to pay those it owes money to. Many of these big companies exist on some servers and a few legal documents.
I hope the Citibank isn't next! Its going to be a rough ride. The Fed really did not have a choice but secure the deal. If Bear Stearns defaulted, markets would begin to meltdown due to a lack of faith in US banks. We really do not want see that........
Bear crumbled not overnight, but had to get its comeuppance overnight. There was no where else to hide. They were VERY agressive in all types of MBS's and this is the result. The building on Madison could fetch $1B alone, I bet.
The bank had to be bailed out not to save a bank, but to save the 5th largest investment bank in America. The relationships, finanances, etc. of the bank with 10,000s of other companies had to be preserved as much as possible. The domino effect of a bank like BS crumbling would be HUGE and to much to risk, esp. in the weakened economy.
Recession...perhaps, but a lot has to do with media hype. People are like sheep..oh, a recession, let me pack my pennies away now. Boom, a recession.
As far as it being the bank's fault...they were just greedy and stoopit. It's the idiot's that TOOK the loans out that are the problem. Let people be accountable for their actions and stop trying to blame "the man" for everything. If you make $28K per year, don't take out a $500K loan. If the rate is 1.9% for 6 mos, but it goes up after that and you were too stupid to figure out you can't afford another $1000/mo, then tough for you.
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.
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.
This just in....
