However, my point is that I'm not sure what your reference has to the topic under discussion. But, after considering it, I do see one -- the DUmmies are overreacting in an analogous, but opposite, way that people here did. They're saying that capitalism is dead while posters here have been saying there's absolutely nothing wrong. So, my compliments to you for a very insightful observation.
Two sides. Same coin.
It's a great time to buy investment property! There are going to be a whoooooooooooooooole lot of new renters out there!
So those with money are going to profit off of this recession. BIG TIME. Best case scenario is that access to loans and capital dries up for 20-30% of the population. Worst case scenario it dries up for 50-60%. That means a lot of people who can't buy homes. America already spends every cent that it earns, and that is in a GOOD economy. Nobody will have money to put down to buy a house, and no bank will loan without a down payment, and even then they are going to only loan to the lowest risk customers. That means a lot of renters.
That means a lot of money for people buying cheap houses and renting them out. The housing market is so overbuilt that the demand for houses will never, and I mean NEVER match the over-supply.
Last edited by OwlMBA; 09-26-2008 at 05:31 PM.
Citigroup to buy Wachovia banking operations
Monday September 29, 11:25 am ET
Citigroup will buy Wachovia's banking operations; FDIC says Wachovia didn't fail
NEW YORK (AP) -- In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking operations of Wachovia Corp. in a deal facilitated by the Federal Deposit Insurance Corp.
Citigroup will absorb up to $42 billion of losses from Wachovia's $312 billion loan portfolio, with the FDIC covering any remaining losses, the government agency said Monday. Citigroup also will issue $12 billion in preferred stock and warrants to the FDIC.
The deal greatly expands Citigroup's retail outlets and secures its place among the U.S. banking industry's Big Three, along with Bank of America Corp. and J.P. Morgan Chase & Co. But it comes at a cost -- Citigroup said Monday it will seek to sell $10 billion in common stock and slashed its quarterly dividend in half to 16 cents to shore up its capital position.
Looks like you don't have to work . Insult edited . I guess you aren't her only customer, huh?
Last edited by Constitutionally Speaking; 10-03-2008 at 03:16 PM. Reason: Let's leave significant others out of the insults.
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