http://www.bloomberg.com/apps/news?pid=20601103&sid=aLPiHQ.ASN48&refer=us
Looks like it’s starting to get bad now.Maybe I should tell them I’ve been laid off for 6 mos and I can’t pay my mortgage.
D
Mortgage? How about my student loans? At least that is more legitimate than a bunch of assholes with no collateral buying up condos with no plans to EVER make payments.
That’s some bullshit right there.
so those of us who aren’t retarded and didn’t go into debt we couldn’t afford are going to have to pay for people who are complete morons??!! !@#$% THAT!!! Thats their own damn fault. I’m sick of looking at my paycheck every week to see taxes taken out so that people can slack off and leach of the rest of us.
So has there been talk or action regarding standards for banks to follow so that this shit doesn’t happen again?
It’s some unfair bullshit if people get bailed out for being greedy beyond their means and putting our national economy in the shitter, but it’s got to get fixed. What are we doing so it doesn’t happen again?
We can’t just let people be stupid. We’re living the results of that now.
ehhh slippery slope.
It is the fault of the market whom invested in these banks, based onthe banks profits, earnings, and the like. Do we really need one more industry to be over-regulated?
The Fed is bailing people out at the consumer level… expecting it to correct the banking woes, and reassure investors. Also its trying to free up cashflow within the industry itself, so that teh banks can get back to writing new loans. If the banks as a whole report alot more new loans on the books, then there is alot more money available to be spent on consumer goods, durables, and correct bad loans, etc… Ripple effect. Financial sector can be a huge diagnostic tool
Beyond that… a couple of updates to this:
US Payrolls shrink for a second straight month… incuding a revision for January. http://www.reuters.com/article/ousiv/idUKN0731208020080307
U.S. employers cut payrolls for a second straight month during February, slashing 63,000 jobs for the biggest monthly job decline in nearly five years as the labor market weakened steadily, a government report on Friday showed.
And, the FED is going even further in trying to correct hthe cashflow… nearly doubling the March auctions.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1Wj0Chxj6TM&refer=home
The central bank increased to $50 billion each from $30 billion the amount intended for auctions of funds planned for March 10 and March 24…The decision is the central bank’s latest attempt to reduce the threat to the economy from banks curtailing loans to companies and households. Banks and securities firms have posted losses exceeding $181 billion since the start of last year as the impact of surging defaults on subprime mortgages rippled through world financial markets
werd