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DOW Plummets 700 points
- Thread starter Razorguns
- Start date
walliwalibus
New member
Well, people did this to people. That's all I can say. Shows the love of mankind huh. LOL I love it, done lost my house in a separation.... so I can sit back and laugh a little.
fistfullofsteel
Well-known member
777.68
AztecWarrior
New member
Sucks! Everything is all fucked up!!!
Razorguns
Well-known member
Corporate America (Elitetists) OWN Government. They even have henchmen called lobbyists.
If Wall St wants $700BN they better give it to them. What they did was stupid. Watch what happens tomorrow. Better stock up on your gas!
Even Buffet warned dire consequences if the bailout fails. Go thank Bush and others for creating a country where our trade deficit is the #1 reason our economy is SHRINKING. Guess what happens in the end when economies shrink and you can no longer borrow kids?
Financial Collapse. And that's what happens. Public Schools won't teach you this. Hence why 99% of Americans have no idea what's going on or who to root for!
r
If Wall St wants $700BN they better give it to them. What they did was stupid. Watch what happens tomorrow. Better stock up on your gas!
Even Buffet warned dire consequences if the bailout fails. Go thank Bush and others for creating a country where our trade deficit is the #1 reason our economy is SHRINKING. Guess what happens in the end when economies shrink and you can no longer borrow kids?
Financial Collapse. And that's what happens. Public Schools won't teach you this. Hence why 99% of Americans have no idea what's going on or who to root for!
r
Big Rick Rock
istrator
This is all looking pretty bad. Sad, sad, sad...
Greed got us here.
Greed got us here.
so do you get good deals on fried chickens and taco supremes?
and how has that contributed to your fattness
discuss?
jnevin
New member
They're all in southern states. None of them are in UT. My fatness is all from more cheat meals than a maing like me should be having.
Razorguns
Well-known member
The banking industry should be regulated is because it enjoys a government sponsored monopoly. Banks must join the Federal Reserve system, and federal reserve notes are the only legal tender. Whether you bank at B of A, Wells Fargo, Citigroup or whatever, you're doing business with the same system, and your dollars are recognized in a bank's account at the Federal Reserve. When banks need money, they borrow from each other. There is really only one bank. This is why the industry must be highly regulated; they face no competition.
If banks want total deregulation, let's close the Fed and let them compete against each other without a backstop. But they can't have it both ways. Right now they enjoy total freedom to do what they want. They got insurance (govt) from shitty practices.
Repeal of the Glass - Steagall act did not help things either. Before that, due diligence towards other banks MBS they bought was the order of the day. After GS was thrown to the curb - they could sell their own securities - and due diligence went out the window.
And now we're here
99.9% of Americans have no idea what Glass - Steagall is. But they know who won American Idol this year.
r
If banks want total deregulation, let's close the Fed and let them compete against each other without a backstop. But they can't have it both ways. Right now they enjoy total freedom to do what they want. They got insurance (govt) from shitty practices.
Repeal of the Glass - Steagall act did not help things either. Before that, due diligence towards other banks MBS they bought was the order of the day. After GS was thrown to the curb - they could sell their own securities - and due diligence went out the window.
And now we're here
99.9% of Americans have no idea what Glass - Steagall is. But they know who won American Idol this year.
r
