Rolling US Economy Into The Shitbin Thread

no, that article is completely right, unless you have more than 100k in there

i think, anyway

well whatever you do, dont move it to citibank
http://finance.google.com/finance?q=NYSE%3AC

ouch, and I thought they were doing alright.

i work for an agency and wamu is our primary (in some respects, ONLY) client; they completely pay the overhead here. well their credit card division does. oddly their credit card division is still profitable. doesn't mean half the office isn't sending out their resumes anyway.

Xpost, yeah I know, which is why I haven't checked the actual value of my portfolio. But no matter what, there's always that creeping fear of "What if this is the big one? What if every company I own goes bankrupt?"

That's why you're not supposed to look, I guess.

aren't the remaining two big banks relatively free of mortgage stuff, so only getting hit by temporary, shallow all-ibanks-are-in-trouble losses? and isn't retail-bank-equipped Citi fairly safe, even if it's got some problems to deal with?

it's hard to say gabbneb, since it doesn't seem like this is just a morgage crisis anymore. earlier someone was saying goldman and morgan stanley were in merger talks.

citi is getting hit b/c they have $138k in lehman bonds

see how much i'm learning in school guys ^_^

138bn

or because people think they have $138 billion, xp

http://money.cnn.com/news/newsfeeds/articles/apwire/09235743f9eb618fcbc1e721444cd77b.htm

actually guys I'm responsible because my comment yesterday set off a flurry of mean-spirited unamerican shorting

not that i have anything invested in this question or anything

x-post -- You horrible man.

Forget shorting, I say it's time we start pantsing these motherfuckers

douchebags require swirlies

http://www.nytimes.com/interactive/2008/09/15/business/20080916-treemap-graphic.html

mouse-over fun!!

aren't the remaining two big banks relatively free of mortgage stuff, so only getting hit by temporary, shallow all-ibanks-are-in-trouble losses?

The problems have spread beyond mortgage stuff. Liquidation of Lehman assets and ensuing fallout will depress prices of a wide range of assets of the types held by Morgan Stanley and Goldman. Combine that with the very high leverage ratios that these institutions still have, and you have a recipe for trouble.

lol "mortgage stuff"

I would like to point out that I have been otm in this thread

re Tom's comments about yr parents laughing at your newly downgraded lifestyles, as your ILX Grandpa I would be laughing now if I wasn't rent-poor.

the girls call me AIG cuz I'm too big to fail

that's good

many rappers are now actively seeking words to rhyme with "mortagages", "derivatives", and "bailouts"

Morbius you live in NYC.

Nas: Wall street hustlas sellin collateralized mortgages
ghetto children be feedin on meager porridges

Sample: Isn't it ironic... dontcha think?

can you go back to worrying about your retirement plz

my competition gets cranky as stone-throwin' primitives
but they albums dropped just like lehman bros derivatives

thank you goodnight

suggest ban, xxxp

this works better

my competition gets cranky as stone-throwin' primitives
droppin' off the charts like lehman bro's derivatives

ban me now before I rhyme again

<img src="http://upload.wikimedia.org/wikipedia/en/f/f8/Young_Jeezy_-_The_Recession.jpg";>

tom, what grade level are you again?

http://upload.wikimedia.org/wikipedia/en/f/f8/Young_Jeezy_-_The_Recession.jpg

Goldman down 24%
Gold up 10%

http://finance.google.com/finance?q=gs+gld

no, that article is completely right, unless you have more than 100k in there

― akm, Wednesday, September 17, 2008 12:36 PM (1 hour ago) Bookmark Suggest Ban Permalink

What is my incentive for them to not fail vs. getting my money out and them failing? Also doesn't the FDIC not have enough cash to cover a WaMu failure and would have to wait for the gov to give them more? Fucking christ, you believe in FDIC?

when the needle hits wax you go down like goldman sachs
I hold gold while you fold, your cash crashed, credit maxed

o god plz stop me

whoa am i not supposed to believe in fdic? i thought only old people didnt trust the fdic

it's been fairly common knowledge that the FDIC is underfunded and couldn't cover a major banking crisis, no?

FDIC is cold like ice is, a glacier that will cover any crisis

guys the country is only ten trillion in the hole, we're okay.

Hey so which banks are good? Should I go foreign owned (is HSBC actually foreign?)?

hsbc is strong
yes they are foreign

http://www.verlo.com/secure/822.images

I just joined HSBC from HBOS last week ha

Morgan Stanley down 1/3rd of its previous worth

this is the last supper, you better get your holy grail out
I'll tax your ass harder than an investment bank bailout

srsly stop it

thanks, I needed that

suggestions for tomorrow's headlines

WHERE O WHERE IS THE BOTTOM

FALL FASHIONS: FLOOR IS THE NEW CEILING

What is Jeb Bush's role in the Lehman Brothers meltdown?

Lehman Brothers was founded in 1850. The firm managed to get through the Civil War, WWI, and WWII, the Great Depression, and the attacks of September 11, 2001. Yet after hiring Jeb Bush in late August of 2007, the firm suddenly goes belly up in a year. It also should be noted that in 2006, George H. Walker IV was also hired by Lehman Brothers.

Er.. okay

So now the Treasury Dept is bailing out the Fed itself? Can someone tell me this is business as usual or insignificant?

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091701403.html

Fed Asks Treasury Dept. for Funds to Backstop Intervention Efforts
By David Cho
Washington Post Staff Writer
Wednesday, September 17, 2008; 12:55 PM
The Federal Reserve has requested that the Treasury Department deposit $40 billion with the central bank in an effort to help the Fed continue to stabilize the financial markets and address concerns about whether it is overstretched.

The Fed's extraordinary series of efforts to pump extra funds into the financial system and bail out such firms as American International Group and Bear Stearns with mammoth loans has depleted its store of Treasury bonds. The central bank will use the funds to offset the amount of money it has injected into the markets in its rescue efforts.