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  1. #1 Hold onto your hats on Monday. 
    Banned JB's Avatar
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    The market could be in for a beatin'.

    I hope no one here is short Merrill.
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  2. #2  
    Eyelids
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    AIG is asking for a $40 billion bailout.

    Can we all admit that the financial markets need more regulation?
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  3. #3  
    Banned JB's Avatar
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    Quote Originally Posted by Eyelids View Post
    AIG is asking for a $40 billion bailout.

    Can we all admit that the financial markets need more regulation?
    Lehman, Merrill, AIG and WaMu are not going to get any federal money.

    I don't think more regulation is the answer. The regulators in place now need to do a better job. People have been asleep at the switch.
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  4. #4  
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    Quote Originally Posted by JB View Post
    Lehman, Merrill, AIG and WaMu are not going to get any federal money.

    I don't think more regulation is the answer. The regulators in place now need to do a better job. People have been asleep at the switch.
    Why the hell is AIG restructuring? Have they gone overboard on their investment products? Their risk products should be quite sound.
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  5. #5  
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    Quote Originally Posted by JB View Post
    Lehman, Merrill, AIG and WaMu are not going to get any federal money.

    I don't think more regulation is the answer. The regulators in place now need to do a better job. People have been asleep at the switch.
    Alan Greenspan should STFU; he is mainly responsible for the housing mess and never informed Congress that the ship was sinking. However, a couple of weeks after Ben B. takes over, he starts running his mouth about a recession and the stock market takes a dive bomb.

    The market has been going downhill since last November. The credit mess is far from over and not only involves housing but other loans such as autos, credit cards, 2nd mortgages, etc. The days of low cost loans with lousy credit are over. Banks are pulling their horns back in and only lending to people with above average credit. Two costly hurricanes do not help the matter either.

    Bailing out Freddie and Fannie will encourage other giant firms to make risky loans knowing Uncle Sam will come to their rescue.
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  6. #6  
    Senior Member Rebel Yell's Avatar
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    Quote Originally Posted by Eyelids View Post
    AIG is asking for a $40 billion bailout.

    Can we all admit that the financial markets need more regulation?
    They don't need more regulation, they need to stop getting government bailouts. Without the safety net of taxpayer's dollars, these corporations would be a lot better at doing their homework before taking risks. If I mismanage my money, should the government bail me out?
    I feel that once a black fella has referred to white foks as "honky paleface devil white-trash cracker redneck Caspers," he's abdicated the right to get upset about the "N" word. But that's just me. -- Jim Goad
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  7. #7  
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    Quote Originally Posted by Cold Warrior View Post
    Why the hell is AIG restructuring? Have they gone overboard on their investment products? Their risk products should be quite sound.
    I don't know what their position in mortgages is. I did just read they have a lot of bad credit swaps on their books.
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  8. #8  
    Senior Member Constitutionally Speaking's Avatar
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    Quote Originally Posted by Rebel Yell View Post
    They don't need more regulation, they need to stop getting government bailouts. Without the safety net of taxpayer's dollars, these corporations would be a lot better at doing their homework before taking risks. If I mismanage my money, should the government bail me out?

    Exactly. The entire problem with the current situation is that there have been no consequences for the bad decisions. Now there are. That will straighten things out real quick.
    I long for the days when our President actually liked our country.
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  9. #9  
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    Quote Originally Posted by Constitutionally Speaking View Post
    Exactly. The entire problem with the current situation is that there have been no consequences for the bad decisions. Now there are. That will straighten things out real quick.
    No it won't. It might "straighten things out" in the future, but decisions already made are still lurking out there, their impact not yet felt. There ain't no way that we're at the bottom of this yet.
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