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Originally posted by BlackOps719
Radical Measures May Be In The Wings
As the financial crisis threatens to spiral out of control, it’s more likely Treasury Secretary Henry Paulson will take extraordinary steps through the extensive authority granted to him under emergency rescue legislation, say analysts.
With the legislation’s main mechanism—an auction system to purchase bad mortgage-based securities—still weeks away from implementation, Paulson may have to inject capital into any number of financial institutions—even non-depository ones like investment banks, insurers and hedge funds.
“I don't wish to spread alarm on the line people but the big issue confronting the market is I'm afraid the health and sustainability of Morgan Stanley (NYSE:MS - News) and Goldman Sachs (NYSE: gs)," Hugh Hendry, Partner and CIO at Eclectica, told CNBC. "It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he add.
Have a go at that!! Looks like the suits are getting desperate.
Originally posted by JipStix
has anyone looked at precious metal prices...
gold down 7.75%
silver down 20%
BUY NOW PEOPLE!!!
Originally posted by Maya00a
Apparently the G7 have come up with a plan but Italy are refusing to sign.
Not sure of the details as I just caught the headline on Bloomberg TV.
All this talk of Chrysler and Ford going bankrupt, Morgan Stanley shares falling and the British/Iceland issue is making me really jittery now!
Originally posted by anachryon
"YAY we're only down 473!!!! WOO HOO!!"
It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he add.