Anyone pay attention to what’s going on on Wall St. today and this whole week?
Who’s got an ARM they cant refi? Because AIG just came into some money… Top officer pay being covered by the taxpayers, anyone with an educated opinion?
Edit- Disclaimer: Not defending or supporting either side here.
PS: Shawn- Not Bush-bashing opportunity. Literally nothing to do with it. Your democratic Congress however… ;D
Yea I heard some funny things to, but I dont know enough to talk about it so i’ll just read wat ya guys say here 
Ive only got a few worthless stocks so I never pay attention to the stock market. Mine are barely worth a few gallons of gas.
I just know the dow dropped like 450 points yesterday.
And that some are calling this the worst time for our economy since the 30’s.
And then the Dow just jumped back 400 points minutes ago thanks to central banks (worldwide) pitching in another $180 billion to global markets.
At any point in time, someone is comparing the economy to the 30s. Dont always believe the doom and gloom.
This is a big deal tho. Overall a real wild day worldwide.
Other recap: Morgan Stanley and Goldman Sachs stocks are falling from speculation of financial worries. AIG kicked out of the Dow, Kraft replaces it.
Housing/lending industry directly correlates to every economic boom and recession we’ve ever had. Even bigger in Japan in the 90s.
Oh I don’t really believe them, I just know people are claiming that. I am pretty confident that my field (Software engineering) will continue to be on the rise for at least the next 25 years. I have not heard of a company that has not has a need for some sort of software.
companies have been bailed out by the gov many times
Word. Every other industry is fine in what they normally do, however down markets is bad news for everyone so every industry will be hurt by a down market and spooked investors.
Not to this degree or with this kind of ripple effect. Should be fun to watch.
It’s also going to set a precedent for when GM asks for a bailout again.
how bout when mexico went bankrupt? Jp morgan had billions invested in mexico, then all of a sudden mexico went belly up. Did jp morgan lose its money… noooo the gov bailed out mexico who in turn repayed jp morgan
hmmm, i wanna know more about this shit, i was always interested but no one wanted to give me any tips , then again i never asked for any in the first place lol.
Correct. It was a loan to Mexico for $20M if memory serves. US took the profit to help JPM cover its damages. That’s 1/4 of the money and it only effected one company during a time when the rest of that industry was booming. Now the US is bailing out (loaning) AIG to the tune of $85M (4x the amount) when the entire lending industry is bent over and everyone needs help.
Makes the $85M seem small when considering the consequences. Like I said, not choosing sides. Just discussion. :smile
SO whats the deal with AIG, are they done or what ? I heard they were 100% done but now they arent?
Another topic brought up by my FA today.
Japan had a similar housing crisis in the 90s and the same recession happened. It took Japan 8-10+ years to recover. Japan’s market is renowned for being slow moving and slow changing. How much quicker can the US-based lenders do it in the fastest paced and most dynamic market in the world?
Def not done. The gov just loaned $85M to help curb a falling market that stems from the lending industry (that AIG is in).
Ahh I see… this is interesting stuff, I always like reading about big companies etc and also about companies that failed too , maybe i’ll find some interest in stocks too
i wish i had the article that i read last year… but i could of swore that it was more than that but either way its all fucked up
They got almost an equal amount from an international banking organization, but it wasnt the US’s money.