rigs, The instituions you name have spent billions in advertising dollars encouraging and enabling the consumer greed you mention. They have no responsibility whatsoever?
On Sep 15, 8:40 pm, rigsy03 <[EMAIL PROTECTED]> wrote: > Consumer personal debt should be on your list. Don't blame bankers, > brokers and credit card companies for consumer greed and ostentation. > > On Sep 15, 7:12 pm, ChattyDaisy <[EMAIL PROTECTED]> wrote: > > > > > I agree; every USA citizen should have the honor to vote. > > > That being said, let's discuss some of the real issues; the economy, > > the war debt, the lack of respect from our allies, the almost 5000 > > troops dead yet still no capture of Bin Laden... > > > The subprime mortgage disaster, combined with the $10 billion per day > > we borrow from Korea and China for the "Iraq War" and I use that term > > lightly, are adding to our mounting pile of financial problems. Before > > any Middle Eastern country has a chance to destroy us, when Korea and > > China come to collect what we can never pay back, that's when the real > > trouble will start. Which Asian flag would you prefer to hang next to > > the White House? How about when Korea and China let loose the billions > > of US dollars in cash they've hoarded back into the market and instead > > of it taking a US $1.50 to get back 75 cents of a Euro, we'll be in > > ration-type WWII trouble and some predicit worse. I don't like camping > > out in the street, or anyplace else. > > > Truth be told, if the Republicans presented a Reagan-like Candidate > > everyone could have been happy. I live in Southern California and > > heard Ron roll over in his grave when Palin gave her speech. Now we > > need to unite and do the right thing by voting for the Democratic > > Candidate who will pull us out of this mess by sheer determination and > > pride. I'd like to hold my head up again in Europe and other > > countries. I'd like to pay taxes that go towards the USA and OUR > > problems, not another country. It's time to get real. Can we all just > > get real? > > > Regards, > > Daisy > > > On Sep 15, 2:25 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > Bush tried, several times... > > > > It was the DEMOCRATS in Congress that stopped anything from being done > > > about it. > > > > Try to get you facts straight PA. > > > > Your Femi-Nazi Lies will do you no good. > > > > On Sep 15, 2:23 pm, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > Frank, I disagree. It is this U.S. backed mortgage fraud that has > > > > destabilized first the U.S.'s economy, and now it is spreading > > > > internationally. It was Bush Jr's job to put a stop to it, but he > > > > didn't. Just like he could have stopped 9/11 but instead did nothing. > > > > > ------ > > > > > On Sep 15, 2:02 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > As much as I despise the GOP they are not responsible for what is part > > > > > of a world economic downturn. They are responsible for the parasitic > > > > > lending practices and the degree to which this crisis has been thrust > > > > > upon ordinary workers. They certain are a reprehensible cabal of > > > > > thieves and thugs > > > > > > On Sep 16, 6:22 am, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > > > Thank you Bush Jr, the Republican Party, and it's inept voters for > > > > > > destroying our economy. > > > > > > > The sound-byte stupidity of many GOP voters have not learned from > > > > > > their past mistakes, and now are set to vote for a totally > > > > > > unqualified, self-serving, fiscally wasteful full-retard, Sarah > > > > > > Palin. > > > > > > > I really don't think the GOP voters sould be able to vote this > > > > > > election. They've proven their votes will destroy our country. > > > > > > > ---------- > > > > > > > On Sep 15, 1:06 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > U.S. Stocks Tumble, Worst Drop in Six Years ``It's all basically > > > > > > > going > > > > > > > down the drain'' > > > > > > > By Lynn Thomasson and Elizabeth Stanton > > > > > > > > Sept. 15 (Bloomberg) -- U.S. stocks tumbled, pushing the Standard > > > > > > > & > > > > > > > Poor's 500 Index to the steepest drop since September 2002, as > > > > > > > Lehman > > > > > > > Brothers Holdings Inc.'s bankruptcy and declining commodities > > > > > > > increased speculation the slump in financial markets and the > > > > > > > economy > > > > > > > will deepen. > > > > > > > > Lehman plunged 95 percent and American International Group Inc. > > > > > > > sank > > > > > > > 51 percent after more than $25 billion in losses from > > > > > > > subprime-related > > > > > > > investments in the last four quarters made with mostly borrowed > > > > > > > money. > > > > > > > Economic concerns pushed down oil, prompting a drop in energy > > > > > > > stocks, > > > > > > > and sent General Electric Co. to a 7.4 percent retreat. Stocks > > > > > > > erased > > > > > > > about half a trillion dollars as financial shares in the S&P 500 > > > > > > > decreased the most since at least 1989, according to data > > > > > > > compiled by > > > > > > > Bloomberg. > > > > > > > > ``Fear is in charge,'' said Henry Herrmann, president and chief > > > > > > > executive officer of Waddell & Reed Financial Inc. in Overland > > > > > > > Park, > > > > > > > Kansas, which manages $70 billion. ``This blows another hole in > > > > > > > the > > > > > > > banking system's ability to extend credit.'' > > > > > > > > The S&P 500 declined 47.60 points, or 3.8 percent, to 1,204.10 at > > > > > > > 3:49 > > > > > > > p.m. in New York, the lowest level since November 2005. Its > > > > > > > retreat > > > > > > > was the biggest in six years, when shares tumbled in the wake of > > > > > > > WorldCom Inc.'s bankruptcy. The Dow Jones Industrial Average > > > > > > > tumbled > > > > > > > 408.57, or 3.6 percent, to 11,013.42. The dollar weakened the most > > > > > > > against the yen since August 2007 and Treasuries surged. > > > > > > > > More than 16 stocks slipped for each that rose on the New York > > > > > > > Stock > > > > > > > Exchange on concern financial shares will continue their slump. > > > > > > > The > > > > > > > S&P 500 has decreased more than 20 percent since an October > > > > > > > record as > > > > > > > bank losses from the first nationwide decline in U.S. home values > > > > > > > since the Great Depression reached $514.6 billion. > > > > > > > > ``We need to get to the bottom of the credit crisis before > > > > > > > financials > > > > > > > are the sort of place that we want to put a lot of money,'' said > > > > > > > Bruce > > > > > > > McCain, the Cleveland-based chief investment strategist at Key > > > > > > > Private > > > > > > > Bank, which oversees about $30 billion. > > > > > > > > Lehman was forced into bankruptcy after Barclays Plc and Bank of > > > > > > > America Corp. abandoned takeover talks yesterday and the company > > > > > > > lost > > > > > > > 94 percent of its market value this year. Lehman sank $3.46 to 19 > > > > > > > cents. > > > > > > > > ``It's all basically going down the drain,'' said Franz Wenzel, > > > > > > > who > > > > > > > helps oversee about $830 billion as deputy director for investment > > > > > > > strategy at Axa Investment Managers in Paris. > > > > > > > > AIG lost $7.14 to $5, the lowest price since July 1988. The > > > > > > > biggest > > > > > > > U.S. insurer fell after failing to present a plan to raise > > > > > > > capital and > > > > > > > stave off credit downgrades. The Government has ruled out any > > > > > > > financial assistance > > > > > > > > Goldman Sachs Group Inc. fell 11 percent, the most since April > > > > > > > 2000, > > > > > > > to $136.78. JPMorgan Chase & Co. retreated 3.5 percent to $39.72. > > > > > > > Their shares were downgraded by Merrill Lynch. > > > > > > > > Morgan Stanley, the biggest U.S. securities firm other than > > > > > > > Goldman > > > > > > > Sachs, fell 10 percent to $33.34. > > > > > > > > Citigroup Inc., the largest U.S. bank by assets, declined 14 > > > > > > > percent > > > > > > > to $15.52 for the steepest drop since July 2002. Bank of America > > > > > > > retreated 17 percent, the most since Oct. 19, 1987, to $27.97 > > > > > > > after > > > > > > > agreeing to purchase Lehman rival Merrill Lynch & Co. for $50 > > > > > > > billion. > > > > > > > American Express Co., the biggest U.S. credit card company by > > > > > > > purchases, fell 6 percent to $36.62. > > > > > > > > Washington Mutual retreated 17 percent to $2.26, the lowest price > > > > > > > since November 1990. The company may cost taxpayers as much as $24 > > > > > > > billion in the event of a U.S. government bailout, said Richard > > > > > > > Bove, > > > > > > > an analyst at Ladenburg Thalmann & Co. The federal government may > > > > > > > have > > > > > > > to provide that much in mortgage guarantees in order to attract a > > > > > > > buyer for the bank, Bove said. > > > > > > > > Former Fed Chairman Alan Greenspan said the financial crisis that > > > > > > > began with the collapse of the subprime-mortgage market last year > > > > > > > ``is > > > > > > > probably a once in a century event'' that will lead to the > > > > > > > failure of > > > > > > > more firms. > > > > > > > > ``There's no question that this is in the process of outstripping > > > > > > > anything I've seen, and it is still not resolved,'' Greenspan > > > > > > > said in > > > > > > > an interview yesterday on ABC's ``This Week with George > > > > > > > Stephanopoulos.'' Greenspan, 82, retired from the Fed in January > > > > > > > 2006 > > > > > > > after serving for 18 years as chairman.- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
