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Stocks Fall Sharply Ahead Of Bailout Vote!

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posted on Sep, 29 2008 @ 10:22 AM
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Stocks Fall Sharply Ahead Of Bailout Vote!


news.yahoo.com

" NEW YORK - Financial markets endured another difficult start Monday ahead of a planned House vote on an unpopular $700 billion plan to rescue troubled financial companies and as investors examined a deal for Wachovia Corp. The Dow Jones industrial average fell more than 300 points, while demand for safe-haven buying in government debt remained high ahead of the vote.

Wall Street is fearful the government's plan to buy up toxic debt wouldn't be sufficient to resuscitate nearly... "
(visit the link for the full news article)




posted on Sep, 29 2008 @ 10:22 AM
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I wonder if bailout is any good... This junk-bank will produce even greater problem, and lets those who are responsible from whole mess without any punishment.

When Junky-Bank starts to buy those loans witch they say are worthless, there will go bankcrupt many those who has stable idea to pay their loans, because selling loans to Junky-Bank is a new business what will open: Every loan will be in the line of outmarkings, and maybe selled to junky-bank.

In Finland they did this same cure, and Banks gets out without hurt, but thousands of privat home owner and small business was wiped out from financial markets: Watch out, you all going to loose a lot in this one...

news.yahoo.com
(visit the link for the full news article)



posted on Sep, 29 2008 @ 10:28 AM
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Now this is what I call GUTS!!!



posted on Sep, 29 2008 @ 10:53 AM
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reply to post by ModernAcademia
 


Can I vote for her?
Great post!



posted on Sep, 29 2008 @ 10:57 AM
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reply to post by JanusFIN
 

That was a pretty good speech. At the very least ,those houses ,that have been foreclosed on should be taken from the banks and put to use. Abandoned houses could be used as chicken coops. The government could rent them out as storage units. The backyards could be rented to gardeners.



posted on Sep, 29 2008 @ 11:05 AM
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reply to post by eradown
 


Bankers will open many new company to realestate business. All the houses what are ousted from their legal owners, will be newly added to most richest bankers pockets. They will left houses empty so long as they wish, and they will sell them with huge profits after couple of years.

Do they pay back this bailout then with profits earned from taking out the houses with very low price and forcefully made bancrupts? No, I promise, they will not, and all the billions are just yours to pay. But yes, they will pay huge bonus to bankers and lawers they now hire to do that "messy" work in selling those houses...

If they do everything like they did in 90´s in Finland, you will be paying after 15 years for this bill, and yes, US government has asked our government to consult in this one: They start to do that in begin of summer by the finnish news reports.



posted on Sep, 29 2008 @ 11:06 AM
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Irish stock market crashed today.

-13%



posted on Sep, 29 2008 @ 11:10 AM
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Originally posted by JanusFIN
reply to post by eradown
 


Bankers will open many new company to realestate business. All the houses what are ousted from their legal owners, will be newly added to most richest bankers pockets. They will left houses empty so long as they wish, and they will sell them with huge profits after couple of years.

Do they pay back this bailout then with profits earned from taking out the houses with very low price and forcefully made bancrupts? No, I promise, they will not, and all the billions are just yours to pay. But yes, they will pay huge bonus to bankers and lawers they now hire to do that "messy" work in selling those houses...

If they do everything like they did in 90´s in Finland, you will be paying after 15 years for this bill, and yes, US government has asked our government to consult in this one: They start to do that in begin of summer by the finnish news reports.



I suspect they are more likely to sell them cheaply to their friends and family. The bankers will then use collection agencies to hound the poor slobs who bought those houses at inflated prices for the differences on those loans until the slobs die. Even then the collection agencies will harrass the relatives for the difference.



posted on Sep, 29 2008 @ 11:22 AM
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You know what's the worst thing about this slump?

Short selling is illegal. The whingers who claimed that speculators were causing the problem have been proved sorely wrong.

A slump in the current condition means that investors are genuinely concerned and selling off their long-held stocks.



posted on Sep, 29 2008 @ 11:26 AM
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If the promised of a bail out is not doing anything to the markets even with global banks infusion today, I am afraid that this can only means that the rest of the world is not very confident about this bail out the US is concocting.



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