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| Subject: March Madness! | |
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Author: jw |
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Date Posted: 21:52:48 03/16/08 Sun In reply to: Bev 's message, "What ever happened to the lending institutions checking to see if people could make their house pmts ." on 21:19:49 03/16/08 Sun I was originally going to use this title to post about the tornado hitting the basketball game in downtown atlanta, but it looks like the real march madness will be on the stock market monday. Bear stearns was bought out by chase bank for a few dollars a share, just a percent or two of it's value last year, and this was done over the weekend, along with the federal perverts bank lowering the interest rate for banks on a sunday, this is a clear indication of outright panic, and stock futures are already tumbling in asia. The dollar is at new lows, commodities are at new highs in overnight trading,storm clouds are gathering, it looks like here in new york a heavy storm is set to strike! Btw, the collapse of bear stearns was anounced just before catastrophe bush spoke in new york on friday, i knew that guy would bring a disaster with him! Anyway, it will not be pretty in the morning, ambulances are getting ready! The question is, will someone still be able to recussitate the market, perhaps the arabs or the chinese, or is this the end? >OH wait thats right they were urged to do this to pull >the us out of the finanacial hole bush has us in the >time after 911 . This new climate is going to really >cut into our retirement as we were mainly living off >interest on cds and iras we had saved. Now the >interest on them is about 2 percent and the fed is >speaking about dropping the prime rate further . If it >gets much worse we will have to use capital in order >to pay the banks to hold our money . > That was a good one about the play stations. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Yes it is madness. | Bev | 01:21:03 03/17/08 Mon |
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| and the feds met today a sunday almost unheard of to cut ratess again | Bev | 01:28:29 03/17/08 Mon |