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| |  Posted Monday, September 29, 2008 3:32 PM | |
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Group: Forum Members
Last Login: Thursday, October 16, 2008 10:23 AM
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| | looks like this sucker is going down. flirting with 700 points down, anyone else see wachovia is getting bought out, wonder if bank of america is goign to stick around? i pulled my money out the bank last week, cash baby cash
just a fan, I cheer the good and boo the bad.
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| | | Posted Monday, September 29, 2008 3:35 PM | |
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Group: Banned Members
Last Login: Saturday, October 11, 2008 12:43 AM
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| | BoA is the biggest bank in the US.. it's not going anywhere. |
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| | | Posted Monday, September 29, 2008 5:09 PM | |
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Group: Forum Members
Last Login: Today @ 12:24 PM
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| SouthSideJax (9/29/2008)
BoA is the biggest bank in the US.. it's not going anywhere.
Ah too big to fail? That really held up true.
BTW, They have started bailing out banks over here too. The Belgian bank Fortis was partly nationalised (combined effort by Dutch, Belgian and Luxembourg governments) and had to sell the Dutch bank ABN AMRO for 10 billion. They bought ABN less then a year ago for 24 billion.
I always come to my conclusions by careful, scientific observation.
But only if the results of said careful, scientific observation fully corroborate my biased opinion. If It Ain't Dutch, It Ain't Much
If It Ain't Teal, It Ain't Real |
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| | | Posted Monday, September 29, 2008 5:22 PM | |
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Group: Forum Members
Last Login: Friday, October 31, 2008 8:46 AM
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| jag4life00 (9/29/2008)
looks like this sucker is going down. flirting with 700 points down, anyone else see wachovia is getting bought out, wonder if bank of america is goign to stick around? i pulled my money out the bank last week, cash baby cash And when the treasury prints the $11 trillion dollars to pay off the debt, that cash baby cash will be worth about 10 cents on the dollar. Of course that would be true if it were still in the bank. That $5000 per taxpayer share of the bailout is looking a lot cheaper than 9% of my 401K.
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances. |
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| | | Posted Tuesday, September 30, 2008 7:55 AM | |
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Group: Forum Members
Last Login: Thursday, October 16, 2008 10:23 AM
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| MalabarJag (9/29/2008)
jag4life00 (9/29/2008)
looks like this sucker is going down. flirting with 700 points down, anyone else see wachovia is getting bought out, wonder if bank of america is goign to stick around? i pulled my money out the bank last week, cash baby cash And when the treasury prints the $11 trillion dollars to pay off the debt, that cash baby cash will be worth about 10 cents on the dollar. Of course that would be true if it were still in the bank. That $5000 per taxpayer share of the bailout is looking a lot cheaper than 9% of my 401K. you have a point maybe i should load up on salt and gold, that won't loose any value when the dollar crashes. salt baby, salt
just a fan, I cheer the good and boo the bad.
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| | | Posted Tuesday, September 30, 2008 8:33 AM | |
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Group: Forum Members
Last Login: Thursday, October 23, 2008 11:20 AM
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| The fact that this may be starting to effect economies globally has me more concerned.
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| | | Posted Tuesday, September 30, 2008 3:01 PM | |
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Group: Forum Members
Last Login: Today @ 9:20 AM
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| | Whom ever is in the White House has little effect on the economy anymore. This is a global economy and policy makers in Washington can affect, minimally, the U.S. economy which is a significant player in the world economy but not as instrumental as it was 40 years ago. Big business runs this world, and they own the politicians. Regards............the Chiefjag
| Be a real Jags fan. Donate to JAGSTIX4KIDS! |
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| | | Posted Tuesday, September 30, 2008 4:15 PM | |
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Group: Forum Members
Last Login: Yesterday @ 5:20 PM
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| SouthSideJax (9/29/2008)
BoA is the biggest bank in the US.. it's not going anywhere.It's that type of myopic thinking that's dangerous and gets you into trouble.
| "I've never been one to run from a problem. I deal with them. Weak people don't have problems, only tough people have problems" - Bobby Bowden "Boys do what they want to do, men do what they have to do." - Jimbo Fisher |
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| | | Posted Tuesday, September 30, 2008 6:34 PM | |
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Group: Forum Members
Last Login: Today @ 5:29 AM
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| I don't think it's quite as bad as it's being made out to be by the media and certain politicians, at least for me. The really bad part is if credit/cash don't start flowing pretty soon, the one's taking the biggest hit are the retired folks.
Sure my 401k has taken a huge hit, but I'm still young enough to stick it out until the market turns back around. So much for early retirement though.
I was somewhat glad that Congress voted down the bill as it was written. I believe that the Government should not be in the business of buying bad debt. At the same time something needs to be done. I would opt more towards a loan type of deal rather than straight up cash to the failing banks/institutions.
Keep in mind, this is a rather complex situation that started many years ago. Government was a HUGE contributing factor, not solely the "greed" on Wall Street. In simple terms, institutions were basically forced by law to make bad loans, and it was just a matter of time before things got out of hand and we got to this situation.
If you really want an understanding of how all of this happened, do a google search on the Community Reinvestment Act and take it from there. Both sides of the political aisle had a hand in this mess with one side being a bit worse than the other.
| "The trouble with our liberal friends is not that they're ignorant: It's just that they know so much that isn't so." - Ronald Reagan. |
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| | | Posted Tuesday, September 30, 2008 7:24 PM | |
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Group: Forum Members
Last Login: Friday, October 31, 2008 12:07 AM
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| | It's the result of citizens taking advantage of what was for once, politicians good intentions, and the banks in turn taking advantage of those citizens. Greed is a helluva drug.
My little girl has her teal & black on, how bout your kid?
RAISING THE NEXT-GEN JAGS FAN! |
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