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Joined: Jan '08
Location: Canada
Age: 36 (M)
Posts: 2698
Ya, stock Market is down. How did it effect you guys? I had $8000 invested, lost about 20% which isn't terrible to some but still bad
$700 billion U.S. bailout gets signed, "gives Treasury the power to spend up to $700 billion to buy bad debt from banks, credit unions, thrifts and insurance companies. The hope is that by shoring up their books, trust will be restored to the financial system, banks will begin lending again, and it will start the economy on the road to recovery."
Joined: Oct '07
Location: Sweden
Age: 63 (M)
Posts: 210
A $700 billion dollar bailout is if you ask me - not a good plan to solve the financial crise. Why? Beacuse, the banks that started all this have made a huge mistake and now the market is punishing them by doing what it's best at: throw out the trash and let the ones that were smart enough stay. But sadly now the goverment can't handle the truth and wants to interfere.
The funny thing is that people are mistaken and think that bailing out the bad banks are helping the economy but it's not, beacuse sure the banks can stay in business a little bit longer with the artificial respiration. What will happen when there is no money to help them? They will start bankrupting again and you have just delayed your problems a little bit in the future.
"Let´s see: A failed president and a failed congress will put 700 billion dollar into failed companies. What could possibly go wrong here"
Joined: Sep '07
Location: Sweden
Age: 48 (M)
Posts: 244
The market collapsed as far as i know. Unfortunetly not because of Bush. I have to say i really think he is incompetent. The market collapsed due to very bad investments from the banks. They borrowed money to people who couldnt pay back and made some bad investments. Therefor the market went under
Joined: Oct '07
Location: Sweden
Age: 63 (M)
Posts: 210
kingpapet, except the market didn't went under. As I said the market is just doing what it's supposed to do. Bankrupt the companies that didn't work out and let the ones that worked out survive, it's simple as that.
Joined: Mar '08
Location: Australia
Age: 49 (M)
Posts: 1158
it aint bushs fault but greedy bankers who hedged loans,money thats not there.cauz fat cats make millions in bonuses and they go broke.stuffem all.poker is my currancy.
Joined: Oct '07
Location: Denmark
Age: 49 (M)
Posts: 109
Guess the finance problems in the world currently will be a good excuse for playing more poker. And then we will see more people at the tables willing to risk their money. And when this happens I will be ready
Joined: Mar '08
Location: United Kingdom
Age: 44 (M)
Posts: 6714
I honestly dont know what to make of it, think its all scare mungering, and at what point did I signe up to ail banks out (will I see a return on the money I now have to invest), the very same ppl who kick you when you are down, also if a bank lends a person money for a house and miss payments they get the house, this works out very profitable for them, so its all BS, lets stop talking ppl out of investing money and get the market going again. Cant blaim bush, banks are not governd, infact it works more the outher way around the likes of bush bow down to the banks, funny how we are forced in to paying in to a pention sceam that may or may not pay out, tired of all this BS im stashing mine under the bed.
Joined: May '08
Location: United Kingdom
Age: 47 (M)
Posts: 869
I have been playing the markets for years when i was back in the UK this was my job, to me there has never been a better time to buy some of the FTSE key blue chips, a real chnace to make some awsome money.
Not only Bush, his Minister Paulson who has worked for years for Goldman Sachs...in fact Lehmn Brothers has been the only merchant bank left alone not to talk about the situation fo european banks
Joined: Aug '08
Location: Germany
Age: 42 (M)
Posts: 8
A german bank spent 300 million €´s, thru LEHMANN BROTHERS, after they knew that they were bankrupt oh i forgot the managment was seated by some politicians OH YES THEY ARE THE HOLEY DONKS I pray thru them every evening
Joined: Oct '08
Location: Norway
Age: 41 (M)
Posts: 37
I recomend to watch "Zeitgeist". Dont mind the "conspiracy" theories, but watch the segment about Central Banks.
Financial Crisis is infact impossible to get by, it has to happe.It tells u that theres no more money out there. Thus resulting a little "crack", then central banks have to lend out more money to the banks!
Money comes from those banks,and when people accumulate the new money, more has to be added.
Maybe a bad explanation, but i wont say its Bush and his politics that are at fault here.
Joined: Feb '08
Location: Ireland
Age: 36 (M)
Posts: 136
Obv Bush is not to blame. He does not control monetary policy in America let alone the world. The issue is the lax controls on banking.
S&P and Moodys royally screwed up as well in rating the CDOs of subprimes. A lot of the blame lies at their doorstep.
Accounting standards and the ability to hide stuff off balance sheet has also contributed hugely to the crash.
Developers and people in the building industry also should have their share of the blame with the ridiculously overpriced housing markets. Banks should also have been aware of this to a greater extent when it was obvious to so many, and widely discussed and wrote about.
Banks are a great value investment atm though with most secured by this stage and hugely undervalued. There are at least 4 that I can name offhand that have market values close to their earnings last year which is ridiculous.
I would not dabble in these however if you don't know much about the markets at the moment cos now is a very high variance time....
oh i forgot the managment was seated by some politicians 
