why don't bush bail out these hard working homeowners who lost there job due to him and are about to lose there home. anyone with any type of substantial money in there account should be watching like a hawk, more to come. lot of those indy mac people with accounts over 100k going to get robbed of there savings.
Financial socialism, take high risks, profits are yours and losses are taxpayers. FDIC insurance is also part of problem. Depositors have no reason give their business only to conservative non-risk-taking financial institutions. Instead just pick the bank/S&L paying the highest rate of return on CDs, they are insured up to $100k just the same. Pick the next bank to fail, just find the one offering the highest interest rates.
How the hell did Indy Mac get to the point to where depositors funds are in jeopardy in the first place?uke1:
1. Leverage
2. Poorly conceived loan programs
3. Poorly developed underwriting
4. Poorly managed
For starters, these four items are the force behind most, if not all, the mortgage meltdown now underway.
not really the rules clearly stated anybody with alot of money shouldn't have over 100k in one account especially in this environment
could see this day coming many months ago
more banks to come
here's a short list of publically traded ones as they getting routed today
NCC -18%
WM -35%
ZION -20%
SOV -15%
FHN -24.5%
MTB -18%
RF -14.3%
on the get run on bank watch list
regardless of the inflation/deflation......gold is a safe store of value throughout the history of world economies....
gold going back towards 1000 again since people are starting to slowly move towards putting money under their pillow and alot easier to hold a 1000 bucks as a ounce of gold than in 100, 100s....
i always love the going back to stone ages shit
just hilarous
back in the early 1900s we didn't have alot of goods and services trading hands we didn't have as much stuff so our economy wasn't as big etc...
its comparing apples to oranges....
gold going back towards 1000 again since people are starting to slowly move towards putting money under their pillow and alot easier to hold a 1000 bucks as a ounce of gold than in 100, 100s....
i always love the going back to stone ages shit
just hilarous
back in the early 1900s we didn't have alot of goods and services trading hands we didn't have as much stuff so our economy wasn't as big etc...
its comparing apples to oranges....
LMAO seriously...
yeah the computers, cars, cell phones, flat screen TVs etc....all came about due to the fed
:nohead:
also i may be a broken record but alot of what i've been ranting about for a while starting to come to fruition
anyway back to sell, sell, sell for me
you, willie, MJ etc...can keep sticking your heads in the sand if you please....
yeah the computers, cars, cell phones, flat screen TVs etc....all came about due to the fed
:nohead:
also i may be a broken record but alot of what i've been ranting about for a while starting to come to fruition
anyway back to sell, sell, sell for me
you, willie, MJ etc...can keep sticking your heads in the sand if you please....
who said the fed is respponsible for technology? you still amaze me with your reading comprehension as a supposed PHd student.
You pointed out that the economy is more complex then it was in the early 1900s, just another reason why a static currency would never work in todays economy.
Capiche?
You pointed out that the economy is more complex then it was in the early 1900s, just another reason why a static currency would never work in todays economy.
Capiche?
well you missed my intent with the original post i was just saying our economy is more stable, bigger, and standard of living is much better now because we have more stuff than we did have in early 1900s....has little to do with the fed....
comparing the unstable times pre fed (also great depression 1929 was under feds watch)......to saying the same would happen in the modern day economy is comparing apples to oranges....
since when is a gold backed currency static?
if you look at fiat currencies across the board
its just a race to who devalues the quickest near term USD winning the battle....
comparing the unstable times pre fed (also great depression 1929 was under feds watch)......to saying the same would happen in the modern day economy is comparing apples to oranges....
since when is a gold backed currency static?
if you look at fiat currencies across the board
its just a race to who devalues the quickest near term USD winning the battle....
If you are conveying a message that this trainwreck is solely a Indy Mac problem, you really need to take a cold shower, open your eyes, and get a dose of reality.
This is a systematic banking disaster, and Indy Mac is merely a tin can among a grand canyon sized disaster.
ope:
