Some perspective for the Chicken Littles
Today’s stock market drop is a record point drop, but does not even crack the top 10 single-day percentage drops in American history.
Let’s stop pounding the panic buttons.
***
On FNC right now, Neil Cavuto emphasizes that lending is going on and puts a damper on Heather Nauert’s panic-button heaving about credit-freeze anecdotes.
Are there businesses getting turned down for loans? Yes.
Here’s a novel thought: Maybe banks are finally learning they shouldn’t fork over money to bad risks.
***
Reader Jamie e-mails this link to a history of US stock market crashes and adds:
I like that the headlines are calling today’s crash the “worst ever.”
In terms of absolute points, sure. In terms of percentages in a single day of trading, 1987’s stock market crash was far worse, and the NASDAQ slide of 2000-2002 was massively worse.
I think news media just can’t resist panic mongering. I imagine them all in the washroom of their office when the soap pump runs out of soap and they all stand around for 10 minutes going, “DOOOOOOOOOM! DOOOOOOOOOOOM!!” until the janitor shows up and puts in more soap.
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- Bailout Bill Rejected « Tai-Chi Policy
- The Trillion Dollar Bailout Has Failed | The Daily Conservative
- Stop the freeping panic | BitsBlog
- Brutally Honest
- Dave Lucas' Notes » Around The Blogosphere 29 September 08
- What Was The Republican Congress Thinking!? | Bitter Knitter
- House GOP finally finds some gonads | The TIW Blog
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- The death of fiscal conservatism « The Right Daily
- So, Is America And The World Marching Toward Doom Or Not?–UPDATED WITH BANK RUNS…or not « Blog Entry « Dr. Melissa Clouthier
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Categories: Subprime crisis
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» Bad manners
On September 29th, 2008 at 6:39 pm, emjem24 said: #97
Well I’m sorry that you had to work for crooks, but you were working for a rarity, IMO.
My team and I realize that we have a fiduciary duty to our clients. We consider it a matter of honor that we are entrusted to handle their hard earned money in a way that suits their best interests, even if it means losing a commission or two…we’d rather give them proper advice as opposed to making a sale.
I’m a big advocate of fee based accounts…if the account performs well, then we see the benefit of it along with our clients and vice versa.
And when building a house, you invest in the foundation.
With computers, you invest in the controllers.
not sure some of you grasp that no $ was lost today it simply changed hands.
if you don’t grasp that perhaps the market is not a good place for you.
it is what it is
Look, I sympathize with people whose 401ks are temporarily getting hosed right now.
That said, I’m pretty damned ticked off at the Heritage Foundation, National Review rep, FOX News business channels’s Glick and Nauert, and all that elitist pounding of the panic button.
Relax, for Christ sakes. Barney Frank, Bush, and Chris Dodd have a plan to solve all this.
As if!
Michael Chricton’s State of Fear is a must read. They need us to panic in order to control us. Scare us with global warming, radical Islam, the rise of Russia, the economic might of China, losing our jobs, our homes and our savings.
Trust in the Lord, live within your means, take care of your family and your neighbor, and do your job to the best of your ability. We’re gonna be all right. Keep the faith.
So that means we have 13.33 Trillion to go.
Sweet, that gives me a couple of days to load granny in the truck and head to Beverly… Hills that is…
LOL..Panic is the elitist stock and trade…..what else does the MSM have to sell?
Good point. Also, people should remember that risk is real in the market and that a market move to reduce risk is inevitable in the natural market cycle. Its like a wave at the beach…it cannot support itself at its height.
It’s easy to tell which party’s policies or legislation are at fault. Are the Democrats calling for investigations and prison sentences? No? Hmmmmmmmm…
I foresee the US stock market down by 20% before the end of this week. 7% today, 7% or more tomorrow, and even more by Thursday. The money isn’t being “lost” in the market, investors are simply pulling out. In the process of pulling out, they’re fire-selling stocks of all kinds. WaMu’s stock value simply disappeared today. That a real-world bank folks! Not an investment bank, a brick-and-mortar bank which will probably close and be sold in the next few days. Do your banking online with Washington Mutual? Can you access your money tonight?
Who’s bank will be next? Wells Fargo? Citibank? Bank of America? They are ALL invested in this mortgage-securities issue. Citigroup bought Wachovia today, and the S&P countered by announcing that they might DOWNGRADE Citigroup’s credit rating! If Citigroup takes a $42 billion dollar loss with this merger, the FDIC is on the hook for the rest, and the S&P rates Citigroup down in junk bond status, Citi will no longer be able to get the loans necessary to continue operating.
Companies use short-term loans to smooth their cash-flow in and out… basically using the loans to pay for ongoing expenses while waiting for sales money to come in. THIS is the credit which is drying up because the commercial banks are unwilling to make loans in this economic environment.
Anyone screaming about “this is socialism” or “the taxpayer shouldn’t have to pay for this bailout” is simply IGNORANT as to what really happens in the world of bank finance.
Watch the world markets tonight, and watch our stock market tomorrow. If you bought into mutual funds when the stock market was at 9000, and the market drops from today’s 10400 to 8000 or lower, your mutual fund or 401k will be BROKE. Your holdings will be worthless when the market value falls below what it was when you first invested in it. You will have “broken the buck”. I hope you’re all prepared for this.
I am a Republican. I believe in small government but, in a situation like this, where the stability of an entire section of our economy is threatened, the government needs to take action. Commercial banks (not investment banks) cannot be allowed to fail at this time! No matter how stupid their CEOs have been. No matter how the governmental policies might have led to this or which party was at fault, there are too many over-leveraged, under-performing mortgage-backed securities out there being held by ALL banks.
I hope everyone on here who screamed “this bill is bad” (and I’m talking to you Michelle) rather doing a better job of informing the public what’s at stake if the banking system fails, is very happy with their results. Wait until tomorrow…
Rabbid Squirrel, you wouldn’t happen to be one of Ellie May’s pets, now would you?
401k is tax neutral in that one can buy and sell with no tax consequences.
This did not come out of the blue at the very very least you had all of last week. If anyone chose NOT to prepare that is on THEM not Dubya not House GOP or dims or even san fran nan.
BUCK UP people
The banks have in fact learned not to lend to bad risks. The problem is, they think other banks are bad risks! The good and the bad trickle down folks.
Thank goodness only coonskin caps are in style.
10 days ago? The writing on the wall is been there for anyone who wanted to read it for months. We moved everything in our retirement accounts to government securities months ago. Of course, I’m not sure how solvent our government is right now… But it’s more solvent than if it rushes out and spends a trillion $$ it doesn’t have.
Panic? Some numbers went down after previously going. If your knees wobble, buck up or buy braces.
Today’s vote was historical and I’ve thanked my Congressman. I’d rather live freely on an American street than in a socialist State’s government-issued housing.
I’m glad congress is finally in a panic. They have passed all sorts of stupid bills, failed to control immigration and pushed for people to own homes they could not afford. Their answer to everything is to throw money at it. Well, that money was our money and they wasted it.
I’m glad tht Pelosi opened her yap and showed everyone what a hateful person she is.
The elected officials work for us and it’s high time that the acted accordingly. Vote them out!!!
Thank your government. Its called the Community Reinvestment Act of 1977. Yep…Jimmy Carter, later strengthened by Bill Clinton. Its a good read.
If it so serious then the dems should be able to throw a few people under the bus to prove they understand how their policies caused this.
If they continue to demand we, the taxpayer, fix this with no one castigated then NO DEAL.
Who do the dems really care more about?
Barney Frank and Maxine Waters, Chuck Schumer or the entire American Banking System?
Time will tell!
Roto,
it was a bad bill stuffed full of pork the dims have been trying to pass for decades and not been able to. That they felt now in a time of such consequence they could ram them thru is on THEM not me or MM or anyone else who thought this bill was crap.
oh and YES I am happy I am a DAMN happy American so don’t try to lay that shit on me or anyone who stood up for America and shot this POS down.
NO SALE
and P.S. you have a very low view of people that come here if you think they aren’t capable to think by themselves
and are simply MM zombies….JERK
You nailed it. My parents played by the rules their entire lives. Paid their bills on time,paid off their mortgage on time, did everything right. They’ve lost money on the value of their house not because of anything they did but because of all the houses in their neighborhood that are for sale or have been foreclosed. My dad busted his ass every single day, working in construction, spending New England winters working outside. He never asked for anything and never expected anything. And now, through no fault of his own, his 401K and pension are being massacred. Same with my mom’s. Being pissed off about that isn’t being a chicken little like Michelle wants to think. That’s being concerned and angry for the people who really got screwed in all of this.
I hope you’re right about the stock market. I’m waiting for it to bottom out — so I can buy.
My collie says:
ops my nasty response to roto was blocked tee hee well I had fun typing it
anyway
CJ,
the 10 or 1 week example is based on even if they had no clue prior they have had plenty of time. We are on samepage. BUCK UP PEOPLE
A side benefit to this is the falling oil prices.
Cyber,
you are now a client of citi as am sure
you know
Think of this as a private school education… everyone pays, & most will learn.
I seem to recall a few of the loudest whiners today were posting very often last week. Perhaps their time would have been better used TCOB instead, hmmm.
Couldn’t have said it any better. The gloating going on this board is very unbecoming.
Mookie…you should be pissed off….you should be pissed off at the collusion be tween wall street and the elitists in government..(both dems and repubs by the way..), you should be pissed off at the treasury secretary with ties to Goldman Sachs who wanted this absurd amount of taxpayer money WITH NO OVERSIGHT….you should be pissed at a lame duck president who tried to endorse this farce before he left office…you should be pissed….
Just be sure you’re pissed at the right people…..
On September 29th, 2008 at 6:55 pm,
Add CREDIT SCORES to the list of fear tactics. They use it to keep honest, bill paying citizens in line and yet they were handing out mortgages to virtually anyone with a pulse.
(Edit that: I wouldn’t be surprised if quite a few dead people obtained mortgages over the past several years.)
RotaryMonkey …
First … If this was such a “critical” bill then why did the Democrats need any Republicans to vote for it? … they have enough members of their own party in both houses to pass all of this on their own … the answer is simple … they don’t believe their own propoganda on this matter … and want to make sure they can’t be blamed when it doesn’t work …
Second … where does the $700B number come from? … no one seems to know how that number was arrived at … it seems to have been simply pulled out of thin air … no one has given any concrete evidence showing …
… A … A verifiable breakdown of where the money is needed.
… B … Exactly how will the money be used.
… C … What effect should we expect this money to have on the overall situation.
Third … What is “Plan B” if all of this money gets spent and does not correct the situation?
Fourth … Why are we allowing those very same people who neglected their oversight responsibilities and allowed this to happen to tell us how to fix it?
I could go on but these are a fair start to questions that need to be answered …
I am looking into companies that run prisons… I have a feeling that they are good short term investments. imho
Boo Hoo….WaMu made seriously bad investments. In SoCal, the illegals who benefited from WaMu floating them the money for their houses got away with a huge payday. They all took out the equity, many seeing as much as 100k’s, bought cars, all kinds of cool stuff then when their ARM’s doubled, they walked…excuse me….drove off leaving their bills unpaid, with their cool stuff, new cars and rented an apartment. WaMu customers knew it was coming, they should have direct deposited their paychecks into another bank and started moving their money a while ago. Yeah, we are all going to have to suffer for a while, but you really want to give these crooks more money to keep up their failed policies? Not me.
Believe me, they’re on the list.
I don’t know what to tell all those Chicken Littles, wetting their pants. “Buckle up Butter Cup” we’re going for a ride weeee, feel the adrenaline, feel the rush, it lets you know you are alive….You know the Market, is down but it will go up again. First the Politicians are going to play some more politics with our Economy because they think this is the way to sway us to vote for them in NOV., well not all of them check out the Nays . Right, take 700 Billion Dollars out of MainStreet to bail out WallStreet. I am sure we all are lining up to vote for those Bravehearts/sarc
This is not a dig at your parents, but am guessing they bought their home quite awhile ago and it has increased in value. Since they are living in it and not selling it, and it’s paid off - well it’s their house and they’ve done well.
Lou Dobbs currently exposing the ACORN slush funds. Cool!!
Rotarymunkey you appear to be spewing nonsense. I repeat myself, some stocks are already up in after hours trading.
But you know who is just quietly doing a good job without crying fire in a crowded theater? The FDIC Chairman - Sheila Bair and her team. Two very large bank failures and its transparent to depositors, someone said on this board they can access their WaMu accounts. As taxpayers we now have warrants in Citibank which is more than Paulson has promised to get us. (and you know what? not a Goldman Sachs person anywhere on that FDIC leadership team)
I heard Cavuto mention the FDIC this morning and I did some research, they do seem to quietly be doing a good job of protecting depositors.
That’s true. I think what bothers them is that they’d like to downsize in a couple of years and move to a condo or one of those 55+ places but they feel like it’s not worth taking the financial hit on selling the house. My dad built the house so it’s personal on another level for him. I’ve never seen him this worried before. He’s your typical tough construction worker kind of guy and today. he just looked scared.
My money (all $5 of it) is in a local credit union.
I don’t think I need to worry too much.
And DON’T make those bad risks the FIRST to get the bail out money.
They actually had default homeowners in the FIRST $250 Billion to receive ‘help’.
They still don’t get it.
Thaddeus McCotter ROCKS America!!
I’ve got your House Republicans
RIGHT HERE!! Pass it on.
http://www.youtube.com/watch?v=7qA3cpYiz5k
Dear Michelle Malkin, thank you for being strong & committed.
Pelosi,Franks,Waters,Reid ect..they are bureaucrats, and we are not part of the Proletariat yet. There needs to be a counter wave to the Progressives, they just might have jumped the sofa today. IF someone left that big an opening for me, I might exploit it, what are the Republicans doing? The Republicans need to bring there A Game this is high stakes Chicken the Democrats are playing with our Economy. Maybe they ought to show the ruling class how it gets done.
AMEN, AMEN
& to that I would add…..Never use credit. If you don’t have it saved up you probably can’t afford it!
From an MSN news report:
Who would have thought my measly $2200 in taxpayer bailout was so important. If that’s the case, then I’m going to have to start dictating terms to the rest of the world: $.99 per gallon of gas, no more tainted Chinese products, no snooty French attitudes…
All my MBA friends laughed at me, I bought bonds & not stocks, I rented & saved the difference, I never owned a car in my life. My sister & I sold my mother’s house for her when the market was high & set her up nicely. I pay cash when I buy something.
Recently, a date commented that I over tipped… how could I tell her that I went to school with the waiter?
If there is to be a third party, let the mascot be an ant. I am a conservative, I don’t complain.
Again, if he’s facing retirement most of his money should already be out of the stock market and into fixed income instruments. Retirement Investing 101.
Bull markets never last forever. Everybody knows that. It takes discipline to walk away when the market is up.
Sorry, but your father’s investments are indeed his responsibility.
Here in SoCal the home loans made to the illegals gave them a happy and big payday. Most of them took the equity out of their homes and went on shopping sprees. When their ARM’s doubled and tripled, they just left their homes and rented apartments. This is exactly what sunk WaMu, had they kept the equity in their house they would have had a good chance to negotiate fixed lower interest rates, but why should they…free money baby!! Thanks democrats for starting these projects and thanks repubs for not putting a stop to it when you were in power to do so, fed govt…you guys are awesome….and thank you MSM for keeping the spotlight on this. sarc off….Thank you Michelle for being a warrior!
I went to the bank today to make a small deposit. The teller asked me if I had any loan needs. I said no, we have no debts and recently paid off our mortgage. She then told me they had money to lend and to let “our friends” know.
MarcoPolo #142:
Amen. We sold all our stocks and rental properties in 2005 and reallocated. Having lived through the housing bubble in the 80’s, it was obvious the market wasn’t sustainable.
For the first time in my life, we took home a proceeds check from settlement that was more than we paid for the house — 3 years before.
Know when to hold ‘em, but know when to fold ‘em too.
Mike Rogers from Michigan was on the radio explaining why he voted against it. I wish he would put something in print, because it was great! He had a good sound plan that involved no loans (or gifts!) from the taxpayers.
Actually, people ARE getting mortgages, and car loans are being made. What’s changed is that absolutely crazy risky mortgages and car loans AREN’T being made. Which is as it should be in the first place! I just heard today on the radio somebody say their friend previously had been approved for a mortgage with a $1,000/mo payment. Trouble was, this woman who got the mortgage was disabled and her check was only $600/mo! Folks, this is the kind of insanity that was going on that led to this trouble. Absolutely insane lending practices that never should have been.
filmladd…i swear you can somehow see into my brain and write it down before i even get here….amazing lol
i lost money after the 9/11 downturn….i lost money today…and i really could care less…i own my carS…motorcycleS…and my last credit card is about to be paid off….my condo is just fine i still have positive equity after an almost 30% drop in property values in my area.
tommorrow the sun will rise, the business analysts will rant and scream about the main street people being hurt…but i’m pretty sure i’ll get out of bed and do what i did today.
i’d rather not throw out a trillion dollars for a maybe….even if it was a sure the thing i don’t know if i could be on board.
trading an oz of liberty is not worth a promise of economic security. economic slavery is still slavery.
this is not the role of government and
no amout of sky is falling doomsaying is going to make me change my mind.
next we are going to have an economic depression threat level with all the pretty colors.
puke.
I watched the Rep McCotter you tube video that was posted in the thread. God Bless McCotter, and he puts it so well. I highly recommend watching him he isn’t gloomy he said they came to the House to Serve the People not the President when he is wrong and there is not just one way to Fix this Problem. Wallstreet got themselves into it the people who collected all the dollars, who caused this mess, and are looking for confidence in our Market, can get themselves out of it. I agree, sounds like good advice to me.
When is there ever just one solution to a problem? The politicians are so used to throwing money at a problem lazy they don’t want to try another way. No The Republicans didn’t have to vote for this Bail Out today. The Market went down and it will go back up.
If you want to “feel” better about the situation Listen to McCotter and “Think” about what he is saying. Someone out in the hinter lands is looking out for the American People. I am not suprized his name starts with (Mc) my maiden name does too. He makes all his Republican peers who voted for the Bail Out, look like very Sad Bravehearts- they had to do it for us, NO they were not “thinking” of us. They were doing a Lame Duck President’s bidding.
http://www.youtube.com/watch?v=7qA3cpYiz5k
OK, gotta be harsh. If elected, I will cancel all foreign aid, & kick the UN out. All monies saved will be placed in a lock box for Social Security, (& yes you must be citizen to claim). If we don’t have money for GM, we don’t have money for the PLO… sorry that is it, Please place your hands against the wall & have your papers ready.
A bailout for the sake of a bailout is not a solution … it is a cop out …
Can someone give some ideas on why McCain is tanking and Obama is risng in the polls . . . other than McCain is not pointing fingers and naming names in this disgrace? Is that the only reason?
On September 29th, 2008 at 8:41 pm, marybeth said:
McCain is a pragmatic collectivist, not a conservative. This precludes his using certain arguments that most of his here on this site could make instantly with gusto, ones that would score amazing points.
For instance, he could have been against the bailout and gained 15 points in one speech. But he believes in “regulating” the market, i.e., that collectivism can be practiced honestly and fairly.
It can not, and never has been.
Damnant quod non intelligunt!
marybeth said:
Can someone give some ideas on why McCain is tanking and Obama is risng in the polls . . .
Wanna buy some wamu sock?
The loser level in this country is rising. The morons expect welfare and handouts. The democrats promise that all the needs of the mental deficient’s will be met by my tax dollars.
Losers promising money to losers.
Smart aleck . . . I really am looking for some decent insight.
Here is what I wrote to McCain today:
Dear Senator McCain,
Please, for the love of G-d, take the gloves off and come out fighting!
Put your Country First . . . by defeating Obama and his thugs. They are defeating YOU right now with Chicago style politics. As distasteful as you may find it, you will have to get down in the mud with him and beat him at his own game.
If you defeat him, you will always be remembered as the President who saved his country. If you don’t AND you don’t put everything into this campaign, you will always be remembered as the candidate who helped turn America into a socialist nation.
The future of America is at stake. YOU slogged your way through the primaries. Now you are the GOP nominee and are the only one who can make the difference. Please do it.
Mookie,
As the son/daughter of your folks it is YOUR job to hekp advise them financially. Seems you chose not to.
friendly reminder to all:
second part of Ronaldus THE MAN Maximus
is on PBS 2night
Time to fill the prisons.
Time to end the socialist revolution.
We NEED to educate the people, take back our schools.
We need information, demand truth from the msm.
We need health care, protect our health system.
We need a finacial market, keep daddy gov out of our finacial markets and our businesses.
End daddy gov and return uncle sam.
marybeth,
did you really type G-d to McCain?
thats a creepy lgf thing I don’t get it.
if you believe in God say so…..
We don’t truth from msm we need them to curl up and die, to hell with an epiphany. They have done enuff damage to America, just go away with what little grace they can muster.
death throes are never pretty…..
toss a “need” in there please
Neither Obama nor McCain have a clue what to do NOW about the Economic mess!
So what kind of leaders are they?
They are both “empty suits”!
AND McCain has had A REALLY, REALLY long time to fix these problems since the S&L scam.
Oh & yeah, I know about S190 from 2005, “A bill to address the regulation of secondary mortgage market enterprises”
Sponsor: Sen. Hagel, Cosponsors: Sen. Dole; Sen Sununu; Sen McCain
BUT come on, McCain certainly did not try to push this like he did the Immigration Bill, OR perhaps oversight of Fannie of Freddie might have gotten some traction back then. Oh, and McCain did not sign on to S190 until 2006.
I am not voting for either of them.
AND PLEASE PEOPLE DON’T BOTHER TRYING TO “SCARE” ME ONE WAY OR THE OTHER.
marybeth said:
Wanna buy some wamu sock?
Smart aleck . . . I really am looking for some decent insight.
OK, I was rude, my bad, & I am sorry.
Here is some decent insight, (in-sight) polls reflect the outcome that the commissioners of the poll want it to, with all due respect, I think you already know that. Obama is ahead in the polls because the corrupt powers that be WANT him to win. Did they poll you? If you believe in polls then you just might buy wamu… no dis intended.
I am a marketing pro by trade & trust me 3 out of 4 surveyed said… is the oldest lie that I could tell you without being banned.
Indie,
assume you are an adult and will vote as you see fit. That is the way it works in a democracy, be an adult and
don’t whine afterwards that is all I ask of you. Do you desire attention?
not sure why you think anyone cares how you vote…hmm
Bansharia, some very religious people use G-d because they can’t print the words. I believe the Jews, and even some Christians practice this.
I learned that from my Jewish friend when I was in 7th grade, so its not just a LGF thing.
Just some fyi
I sure do. Devout Roman Catholic . . .
Sorry for offending you in that manner.
Guess the whole point of the letter is lost now . . .
And no, I didn’t leave the “o” out of God in the letter.
Yeah, I realized afterward I might not have been as clear as I should have been. Even the clueless should have known by last week that the balloon was in imminent danger of popping. But really, the leftist MSM has been telling us for months that the economy is in the pits. Seems to me liberals should have been prepared for the stock market to tank. (Of course, maybe they don’t believe their own press reports…) And yet, conservatives are the ones trying to be “deliberative” and “nuanced” (while they search for the best solution, not necessarily the fastest) while the liberals are running around like Chicken Little.
Things are getting too weird…
Obama agreeing with Bush, me almost agreeing with Michael Moore:
Michael Moore: ‘The biggest robbery in the history of this country’…
This is our chance to tie Obama to Bush. Defeat the Obama-Bush bill!
and BUY!! Should be some good bargains out there. Get ‘em before they’re gobbled up!!
This is the “Obama Crash”
Label it and stick it!
On September 29th, 2008 at 9:48 pm, flenser said:
It may have been said in jest, but that was exactly what the bill was.
Er, with one addition: The Soros-Obama-Bush bill….
On September 29th, 2008 at 9:45 pm, RabbidSquirrel said:
Things are getting too weird…
Obama agreeing with Bush, me almost agreeing with Michael Moore:
Well even a broken clock… let’s make that the biggest attempted robbery… but that just goes to show how obviously WRONG this is. If that detestable sack of defective genetic material says “the sky is blue”, well yes it is…
On September 29th, 2008 at 8:23 pm, e.koenig said:
I have no special powers, it is merely the synchronicity of great minds.
Eventus stultorum magister!
Amen to the Rep. Thadd in the youtube. NO DEAL. Find a private solution. Then start fining and putting the bastards in an overcrowded jail.
Course Barney Frank would think its Club Med.
On September 29th, 2008 at 9:45 pm, RabbidSquirrel said:
If you read his arguments, they are all wrong, but they lead to the right conclusion: bailout bad.
Anyone who’s done algebra or calculus and has had to “show their work” on an exam knows that sometimes you can derive the proper answer even if your path to it was screwy.
Moore still doesn’t understand that Bush is a collectivist and that these big corporations are collectivists, too.
The very fabric of Moore’s being has been anti-big-corporation, not realizing that his supposed “enemies” are collectivist just like him, and would LOVE to see nationalized health care.
Get the taxpayer to foot the bill! That way we don’t have to any more. More money into our CEO pay. GM has been trying to get nationalized health care (behind the scenes) for YEARS…
The Democrats get more large corporation donations than Republicans by far.
It’s ironic that Moore has been helping those he hates.
Funny to see such a fat pawn.
Fiat justitia, ruat caelum!
marybeth:
You are just toooo sweet! I mean that as a compliment. If more would discuss their points like you do, this would be a sweeter world!
Im listening to Paulsons press conference from this afternoon.
Well, Im SOOOOOOOO glad he is still committed to use all of the tools available to him to resolve this issue…
ISNT THAT HIS JOB ?!?!?!?!?!!?
What? Like he’s going to wake up in the morning and say “Nope…not going to be committed today”
HEY! Ive got an idea. if this is such a real problem, then skip the Jewish holiday, Ramadan, Christmas, Kwanza and whatever other holiday they need to skip AND GO BACK TO WORK!
Right, my caveat was ‘almost agreed with him’
I just didnt detail what my reservations were. Thanks!
bansharia said:
“not sure why you think anyone cares how you vote…hmm.”
REALLY? Then why did you respond?
Maybe you should share your insights with the Candidates and their minions, they apparently care how people vote…how silly! You could save them a lot of money.
Oh well, who needs an IRA anyway?
Or housing equity…
-Sigh-
It’s funny in a way, yeah, the numbers are all lower but Ill take a hit if the guilty are held accountable and it costs them. I am actually a bit relieved along with apprehensive.
I just hope the right people are blamed for this. So far it has been just the opposite.
Hey, you know what we don’t need? Mammoth entitlement programs and tax increases to destroy what’s left.
Maybe the point was, why did you bother to post if your mind is made up and nothing anybody can say will change it? And since you did post, why should you criticize someone for saying in effect that you are irrelevant?
I posted this earlier on another thread, before I found out that my Yahoo page wasn’t updating to the latest blog entries:
ok…my retirement investments dropped a whole 6.45%…
I don’t think it’s quite time for a run on the banks yet….
For what it’s worth, a neighbor got a letter from a local bank in North Texas today offering her, a retiree on Social Security in her 80s, a chance to borrow $50,000 against a home that can’t be worth more than $100,000, at best. Credit crisis?
Did anybody see that pathetic excuse for an interview that O’Reilly did with Cheryl Casone, a Fox Business financial analyst? It made me want to scream!!! This woman had the AUDACITY to call people like me stupid for not wanting my TAX MONEY to go to what was perhaps a MAYBE and that’s it.
This woman, who I’ve lost all respect for, kept on blathering away about how this wasn’t a bailout and that we’re in a credit/liquidity crisis (pick one already) and that the market needs “emergency funds.” She then added that Main Street will regret their not supporting the bailout when they see how the Dow tanked today and it hits people’s retirements HARD.
Hellllooooo, Cheryl!!! Wake up, woman!!! My retirement has taken hits before, especially with the turbulence in 2007, so I diversified. People are selling off worthless stock and I don’t blame them. I’d actually wait to sell high, but there aren’t many financially educated Americans to know that without broker backing.
She then went on to claim that Wall Street= Main Street because 50% of Americans (the other guest said 2/3 of Americans so which is it?) invests in the market. Shareholders want accountability just like taxpayers want accountability. I’m one of those shareholders. I’m not buying into her argument and if she thinks that this bailout is gonna work I want some proof. NOW!!! You hear me, Cheryl?
CUT THE CRAP ALREADY!!! I’m tired of these people telling me how to feel about something that stinks to high heaven. I want a bill to pass but not this craptastic version. I’m not stupid and neither are a lot of Americans. Congress was about to fleece taxpayers and we knew it and we fought back.
Presume much?
On September 30th, 2008 at 12:50 am, Mookie said:
bansharia,
It’s easy to talk like that when you don’t have a dog in the fight. People like Mookie’s parents and my own plan out their 401k investments so they provide a return to supplement Social Security. Moving this to Treasury Bills is fine to say, but doesn’t provide the income necessary to cover the bills.
That’s not to say this is a permanent situation. The market will rebound. It’s just that it’s a bit stressful until it does. Calling someone a bad son because they’re concerned for their parents isn’t taking a conservative stance, it’s just mean.
emjem24
Glad I’m not the only one that saw that interview and felt she was an idiot …
I guess we now know someone who was apparently heavily investing in all that demonized speculation in oil and other risky futures …
I lost 3.4% of value on my retirement investments … Not ever fun but not ready to jump off any bridges either … it will be recovered …
My reaction to Ms. Casone was an email to O’Reilly’s show saying don’t bother ever having her on again because she is a condescending twit … and I will change the channel if she comes on my TV screen …
this what the nationalreview is doing too…
and the market is up 190 or so…thats why I stopped subscribing to them long ago…after buckley retired the ‘moderate’ conservatives took over….
Well perhaps I should change my name to ChickenLittle. Sorry for my panic yesterday Michelle and others who comment here, I sincerely believed today was going to be very very different from what we’re seeing so far. I am very relieved and happy to say I was completely wrong. Thank you Michelle for your continued updates and for keeping your feet planted firmly on the ground.
Credit crunch? I received a call from Wells Fargo Fonancial last night (I let the machine take it) offering me more credit.
The same people who told us for years that Fannie and Freddie are fine are now telling us we have to do this bailout? I’m willing to accept that a broken clock is correct twice a day, but I’m thinking this isn’t that time of day.
there is a great article/blog posting whatever from jay leno (yeah go figure) but it is worth reading. yesterday 86% of americans felt good about their personal finances, yet only 30% felt good about the state of america. turn off your tv’s, trash your newsweek, burn your newspaper because it is the media manipulating you with the crisis dujour. i can’t think of a better read than michael chrichton as posted earlier, and the jay leno piece.