quote:

Originally posted by Chilepepper:
On another note..if find it hilarious how lawyers throw about big numbers in lawsuits claiming damages.

Citi is suing Wachovia/Wells Fargo claiming $60B in damages for a $2.1B purchase.

Maybe lawyers should take a few more math courses.

That's damages, plus attorneys fees.

I'm watching Wall Street, and I just heard a line which totally encapsulates this market meltdown:

Gordon Gekko: Money is not lost or earned...it is simply transferred from one perception to another.

quote:

Originally posted by Mezzo Litro:
I'm watching Wall Street, and I just heard a line which totally encapsulates this market meltdown:

Gordon Gekko: Money is not lost or earned...it is simply transferred from one perception to another.

Yes, so nice to hear someone from a country with the GDP equivolent of Iowa chime in.

quote:

Originally posted by Chilepepper:

quote:

Originally posted by Mezzo Litro:
I'm watching Wall Street, and I just heard a line which totally encapsulates this market meltdown:

Gordon Gekko: Money is not lost or earned...it is simply transferred from one perception to another.

Yes, so nice to hear someone from a country with the GDP equivolent of Iowa chime in.

Now Chili, that's not fair to our friends up north. They are actually the equivalent of TX in GDP. (Oh- and equivalent is with an a - a product of my superior FSU education )

quote:

Originally posted by vinole:

quote:

Originally posted by Chilepepper:

quote:

Originally posted by Mezzo Litro:
I'm watching Wall Street, and I just heard a line which totally encapsulates this market meltdown:

Gordon Gekko: Money is not lost or earned...it is simply transferred from one perception to another.

Yes, so nice to hear someone from a country with the GDP equivolent of Iowa chime in.

Now Chili, that's not fair to our friends up north. They are actually the equivalent of TX in GDP. (Oh- and equivalent is with an a - a product of my superior FSU education )

Well..I was trying to lowball it...and well...at least you got in to Chapel Hill

95% of my company's business is done in your country. It pains me more than you know to watch the greatest economy in the world fall apart. It pains me even more to watch our CND dollar gain unwarranted strenghth over the last couple of years, even though the greenback is trying to fight back lately.

Greed is good my a$$. All that's happening is the continual erosion and eventual extinction of the middle class, both financially and morally. Which side of the equation are you guys on?

VT2IT,

What you do not understand is that all of this "doing" by congress will do NOTHING. This problem is in the TRILLIONS. We do not have enough money to solve it. The question was never do something or do nothing. The question was, whatever we do will be purely symbolic and a feeble attempt to boost confidence in the markets, but in reality is nothing at all. So - do we screw the taxpayer and blow $850 BILLION and get nothing (other than a sense of self aggrandizement and a soothing congress' guilt) or do we give no money and get nothing. Congress had to do "something" because their gigantic egos, and the gullible voters they paid this $850 BILLION to hypnotize, would not feel good.

Paulson was doing these kinds of deals at Goldman before he came to treasury. He is deep into this kind of crap and he cannot be trusted. Why are people allowing him to claim a straight face he did not see this coming until he burst into the room waving his 3 page plan and screaming, "The sky is falling!?"

He must be replaced and investigated. Who does the nostril, Waxman put before a hearing? The guy from Lehman? Boy those democrats were really tough yelling at this guy and questioning his compensation. That will cement the votes of the class envious democrat constituency! What bravery! Now I know they are looking out for me! I want Dodd, Frank, Gorelick, members of the congressional black caucus and Raines being questioned under oath.

It is none of congress' damned business how much a private citizen earns. NONE. If laws were broken, indict him, otherwise these hearings will be show trials, nothing more. It is odd, however, that the CEO of a GSE, Fannie Mae, which is at the heart of this cluster**** made $100 MILLION while he drove the U.S. economy into the crapper. When will he be questioned? Congress can do substantive investigations while the "smart people" work on determining how much more we are all getting screwed.

Government caused this. Government cannot solve this. Socializing the financial and housing markets is a colossal mistake that will affect us indefinitely.

This message has been edited. Last edited by: cdr,

quote:

Originally posted by Mezzo Litro:
95% of my company's business is done in your country. It pains me more than you know to watch the greatest economy in the world fall apart. It pains me even more to watch our CND dollar gain unwarranted strenghth over the last couple of years, even though the greenback is trying to fight back lately.

Greed is good my a$$. All that's happening is the continual erosion and eventual extinction of the middle class, both financially and morally. Which side of the equation are you guys on?

Well apparently, my govt decided that we aren't part of the middle class (Mrs. Chile & I) since they neglected to send us a stimulus check, so I guess I could care less about them since I just want the market to increase enough so we don't have to be part of that class for any longer

All said with sarcasm of course!

quote:

Originally posted by Mezzo Litro:
It pains me more than you know to watch the greatest economy in the world fall apart. It pains me even more to watch our CND dollar gain unwarranted strenghth over the last couple of years, even though the greenback is trying to fight back lately.

Well, I think you also have to worry about a lot more than just the US. Haven't you noticed what is going on in Europe with their own bank failures, RE market problems, and stock market busts. Don't think for a momemt that CAD is immune. Your dollar rallied for two basic reasons - 1) budget surplus as you elected to stay out of Iraq (wise in hindsight), and 2) like Russia, your economy saw a commodities based boom, which is now tanking.

The CAD$ peaked in 11/07 at $1.08 and is now just a little over 0.90. The Euro peaked at $1.60 in 4/08 and is now at $1.35. These trends will likely continue for at least the next year and I think the Euro will be at about $1.10 within 6 mos to a year. The primary reason being that the US is further along in its down cycle and will come out earlier. Also, the US economy rebounds more quickly as its adjustments are less hindered by the more socialistic structures seen in Europe.

Just heard the bailout bill referred to as The Splurge.
Cracked me up - hadn't heard that before.

quote:

Originally posted by Dave Tong BBP:
Just heard the bailout bill referred to as The Splurge.
Cracked me up - hadn't heard that before.

With all the headlines declaring the "puking", "plunging", "clogged", "backflow", "deep sht", can't someone just call Roto rooter?

The stock market explained:

Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each.

The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort.

The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again. But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching. The man increased his price to $25 each and the supply of monkeys became so scarce that it was an effort to even see a monkey, much less catch one.

The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf.

While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.'

The villagers rounded up all their savings and bought all the monkeys. They never saw the man nor his assistant again and once more there were monkeys everywhere.

Now you have a better understanding of how the stock market works!

See, there is a bright side to the devastation.

NICOSIA (Reuters) - A slowdown in the world economy may give the planet a breather from the excessively high carbon dioxide (CO2) emissions responsible for climate change, a Nobel Prize winning scientist said on Tuesday.

OK, this blows huge industrial sized chunks. Dow down another 500 points today. God this is bugly.

JAVA dropped another 10% - we are below $6. Won't be long before we can take ourselves private with our cash in the bank, always assuming that the bank still exists of course.

quote:

Originally posted by wineismylife:
OK, this blows huge industrial sized chunks. Dow down another 500 points today. God this is bugly.

Joe, you are mistaken. You really do not think the Dow has fallen a 1000 points since the bailout, do you?

The Dow makes the Nasdaq look good.

Man made global warming - the second biggest fraud, behind the bailout.

I heard something about a ceo who ran a company into the ground, was fired and then hired on as a consultant for 1 Million a year courtesy of tax payers. They should hire me. I could give companies all kinds of shitty financial advice.

I planned within my means and got a fixed rate mortgage. So where is my bailout?

McCain wants another $300B for these people?

As my wife observed, I could not quit shaking my head right now if she put it in a bench vise.

We're Screwed '08.

Moo

quote:

Originally posted by Sacred Cow:
I planned within my means and got a fixed rate mortgage.

Idiot :-P

quote:

Originally posted by Sacred Cow:
I planned within my means and got a fixed rate mortgage. So where is my bailout?

McCain wants another $300B for these people?

As my wife observed, I could not quit shaking my head right now if she put it in a bench vise.

We're Screwed '08.

Moo

alright i have to know, where the hell is B.F. Egypt and what kind of name is that?

g-man,

That's where many have been living for a long time. I expect more refugees to be arriving daily.
Some are already there, and don't even know it.