WaMu bank fails

[Quang]

now that the bailout plan has become so integrated in traders' evaluations, if we don't see an agreement by this weekend, i think the markets will crash monday. and let me add, i hope i'm wrong.

btw, wassup jose!

 

[Chiefmcfuz]

Wachovia is next

 

[Timbo]

If you go to FDIC.gov they have updated some policies as of today. Also, most of the frequently asked questions are directed toward those who have deposits at Washington Mutual.

 

[Killerdrgn]

People stopped driving when gas hit $5, it won't get to $8 anytime soon IMO

Yeah but that was in the theoretical world of distributing money to the mass public.

the bailout will also cause inflation. they're injecting 700billion into the economy one way or the other.

Not necessarily, not all rates of inflation is the same. Give $100 to a poor man (the masses) and you just increased his networth much more than if you gave that same $100 to a billionaire (corporations). Though I just need to state before you miss-read this, I would not support giving out that $100 in the first place.

 

[jackson6745]

Kill, help me understand what you're saying??? That was the real world. Gas hit $5 My boats were tied to the dock and I drove much less. The theoretical world would be the trading price of oil, no?

 

[Killerdrgn]

Kill, help me understand what you're saying??? That was the real world. Gas hit $5 My boats were tied to the dock and I drove much less. The theoretical world would be the trading price of oil, no?

No no no that was in response to the theoretical world of everyone getting $425,000 in a single pop. Read post #19 by Cbrsorlo. Basically if everyone was able to afford s..t the prices would start going way up.

 

[jackson6745]

lol...ok gottcha

 

[NYreefNoob]

Its not just greed of banks.. but greed of home buyers who actually went to the bank to get a mortgage < totally agreed,in my opinion let those who jumped into water deeper then they can swim drown, including the banks, that's what they get for wanting more then they can afford and the banks for loaning mney to people who they shouldnt have then giving them a crazy interest rate, { if someone doesnt have great credit do you really think giving them a 20% interest rate is going to help them pay ? they have bad credit because they dont pay and the extra interest is just going to make them more than likely not be able to pay anyways } as for giving the americans the money they couldnt manage the money they had let alone a few hundred k, the banks culdnt have been doing to bad to pay ceo's million dollar salaries, so along cmes the government to bail them out, these guys still make more money then they should the bank still owns all this property and had it paid for by us. why dont they just become realitors :duh: since they own the land. if the government really wants to help drop taxes, put con ed back in check a 25% increase in electric which by any means is outrages of a raise in electric, quit over taxing for luxuary items { those who can afford them deserve them } cut back on government and state job's sorry for those wh have them but how often do you see road crew with 20 guys and only 2 working, instead to help the economy sublet the work which in return finances our economy, and saves a ton of money to the state, cut back on welfare { get out and get job } or have these people work for the state to make the pay check the rest of us have been supplying them with. if your not legal you dont get crap either, never understood how that works- illegal = gets welfare. and really if these places do bottom out it put's alot of stuff back in check, i'm no brain child and dont really follow politics but most of this a poor old farm boy can figure out, and for all of you who voted for bush i just want to thank you for helping put someone in office who had the biggest part in destroying our nation. fight a war thats not our's, cost the nation lives and billions of dollars, { real reason oil prices jumped } which chain linked the rest of the economy to spiral down

 

[jejton]

Hey Rick, I'm sure you're saying something very interesting and informative but without any punctuation I cannot understand a thing.

 

[leoskee]

He didnt need punctuation because he said all of that in one breath. lol

 

[jackson6745]

He didnt need punctuation because he said all of that in one breath. lol

LMAO!!! Good one:tongue1:

 

[NYreefNoob]

Lol