Sarah Palin is gonna sort all this shit out, relax
Oil was down about $5 a barrel last I checked.
:piss bailoutsIn general I agree, but the loss of liquidity from the loss of a AIG or Lehman type of firm, that has such a huge stake in the market presents alot of exposure to the rest of the market. Like Cohen said, is has the potential to be a meltdown of epic proportions. I was reading the Greenspan biography by Bob Woodward and it sounds like the FED did alot of this before, it was just done under the table or behind closed doors (i.e. guaranteeing the assets of a fledgling company without due diligence, just to preserve liquidity).
AIG (the world's largest insurance company) needs a $75 billion capital infusion to keep operating.
AIG (the world's largest insurance company) needs a $75 billion capital infusion to keep operating.
Apparently the state of NY has offered AIG $20M, not sure of the specifics. Also read that the fed is orchestrating talks between Golmann and AIG
I wonder who is actually funding all these bailouts?Well, in the case of the federal reserve bailouts, the fed has a portfolio of treasury bills and other securities that it draws resources from.
goldman-sachs and morgan stanley have much, much more diversified portfolios. they had profitable quarters, even as their stock took a hit fom the inevitable end-of-trading panic.
I wonder who is actually funding all these bailouts?Well, in the case of the federal reserve bailouts, the fed has a portfolio of treasury bills and other securities that it draws resources from.
I wonder who is actually funding all these bailouts?Well, in the case of the federal reserve bailouts, the fed has a portfolio of treasury bills and other securities that it draws resources from.
I was wondering where they may be getting the securities from. I thought they got all this from investment firms and financiers but with both crumbling, maybe they're getting it from elsewhere.
Also, what if China or any other nation decided to turn down the offer to loan the US money or buy their securities, bonds, etc.?
^China could also cash in all the t-bills that it has stockpiled.Do you mean treasury bonds? Aren't T-bills really liquid? Unless china was sitting on them just to lord it over us I don't really get it otherwise. The t-bills should be maturing every 4, 13, or 26 weeks.
I wonder who is actually funding all these bailouts?
The good news is that New York City will probably slide back into the shithole it was as a result of this, providing our arts with a wellspring of creativity.I wish. Then my rent wouldn't be so high. :-\
The good news is that New York City will probably slide back into the shithole it was as a result of this, providing our arts with a wellspring of creativity.I wish. Then my rent wouldn't be so high. :-\
I suppose as a contingency plan, Bush could always find the secret treasure via the hidden map on the back on the Constitution.
LOL. I know who exactly you are refering to.The good news is that New York City will probably slide back into the shithole it was as a result of this, providing our arts with a wellspring of creativity.I wish. Then my rent wouldn't be so high. :-\
Just become a US Congressman.
I'm not kidding either. New York and London are going to take it on their chins.The good news is that New York City will probably slide back into the shithole it was as a result of this, providing our arts with a wellspring of creativity.I wish. Then my rent wouldn't be so high. :-\
Its not wrong if youre a cable tv producer tasked with creating a new made-for-tv movie.
QuoteAverage Wall Street salary is $400K/ year (Goldman-Sachs employees had average $600K/ year), average New York salary is $60K/year.
be careful to not assume that all people who work in the city get those 400k/year salary, because that's not the case - those figures are skewed by the super high end earners.
95% of the people who will hurt from this are just average people doing the daily work to run these places.
It's like when they announce things like "Goldman bonus this xmas averages $800k!" and people assume that means everyone got an 800k bonus - lolllllll.... lol lol lol lol. NO. It's because the top level bonuses are so -insane- that it drags the averages up. Also - they don't include NO BONUS in those figures!
The people you are chastising and laughing at are already set up for life, it's the regular people who are well and truly shafted.
But yes, there's going to be a glut of unemployed people fighting for -very- few places right now. The next few days will be testing what with the last two brokerages about to announce their results. :/
I know McCain is too dumb to understand even a lick of economics but hey - what are Presidental advisors for!
It's like when they announce things like "Goldman bonus this xmas averages $800k!" and people assume that means everyone got an 800k bonus - lolllllll.... lol lol lol lol. NO. It's because the top level bonuses are so -insane- that it drags the averages up.
I know McCain is too dumb to understand even a lick of economics but hey - what are Presidental advisors for!
You dumb bastard, the guy who he had tabbed as Secretary of the Treasury, Phil "Nation of Whiners" Gramm, has a lot of responsibility between being a senator and lobbyist for the shitty state of the financial sector today.
I know McCain is too dumb to understand even a lick of economics but hey - what are Presidental advisors for!
You dumb bastard, the guy who he had tabbed as Secretary of the Treasury, Phil "Nation of Whiners" Gramm, has a lot of responsibility between being a senator and lobbyist for the shitty state of the financial sector today.
You mean Mr. Enron?
goldman-sachs and morgan-stanley were MUCH more diversified than merrill-lynch, bear-stearns, or lehman bros. did anybody really think they'd fall? the other three crashed and burned for obvious reasons -- heavy, middle/high-risk investments in financials, and a company-wide bet on mortgage/housing-heavy portfolios.Not only that, they were also very highly leveraged. Kudos to MS for beating their earnings estimate.
goldman-sachs and morgan-stanley were MUCH more diversified than merrill-lynch, bear-stearns, or lehman bros. did anybody really think they'd fall? the other three crashed and burned for obvious reasons -- heavy, middle/high-risk investments in financials, and a company-wide bet on mortgage/housing-heavy portfolios.Not only that, they were also very highly leveraged. Kudos to MS for beating their earnings estimate.
I think their are some striking similarities between the credit crysis and the Drexel Burnham Lambert fallout in the 80s, minus of course the illegal activities (that we know of).