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Rank: Coathanger Abortion
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Washington Mutual was just seized by the government. Biggest bank failure in history. Some kind of sweetheart deal is being worked out to gut the company and hand over the good stuff to JPMorgan, no doubt the shit left over will become yours and mine. Razor wrote:Killing people is good therapy.  
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Rank: Fecal Impaction For the Win!
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I am glad I work for a foreign bank.
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Rank: Coathanger Abortion
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Hmm, looks like GM may be failing sometime next week. They've been downgraded to junk and have exhausted their line of credit. If things don't change quick they're out of operating funds and not going to make their next payroll. By the end of this the government is going to own everything and the Republican's socialist utopia will be at hand. Razor wrote:Killing people is good therapy.
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Rank: Fecal Impaction For the Win!
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Honestly, this shit is hard to swallow. I'm so used to the media dramatizing everything, that even something as big as what's going on right now just doesn't seem to hit me like it should. There's a little piece inside me going "HOLY SHIT ARE YOU KIDDING" but the rest of me just goes "meh, add it to the list of historical shit that's happened in my lifetime." I know that the economy as I know it will probably never ever be the same, and I udnerstand some of the ramifications of this, and I even do slightly comprehend just HOW BAD it is that the government is gaining control of EVERYTHING. But that "meh" part of me is just so used to wierd shit, and I think I see the same all around me. America can still go spend her credit cards at the mall and watch TV and drive her SUVs so what's so different? At least the gas prices are going down. silverwasp wrote:Be careful what you wish for... I have 10 younger siblings and I am only 20....
Yes.... Same parents WarMachine wrote:meh...maybe if he hadn't been handed a burning house he could have done great things, but right now he has won the Prize for what? Damage Control?
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Rank: Pooter Scooter
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my sentiments exactly HolyJaw In an hour of Darkness a blind man is the best guide. In an age of Insanity look to the madman to lead the way. 
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Rank: Dutchess of Doodoo
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the FDIC dodges a bullet. You wanna take this to Fuck Town?
Oh gadzooks, yes!
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Rank: Fuckstick
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This is the same kind of correction to an overheated economy that sparked the Great Depression of the 1930's. Over the time since Reagan was elected, the corporate pirates have dismantled most of the regulatory protections in the market that were designed to prevent this implosion. We've dismantled our industrial production base in the economy and shipped it to China, leaving us with a bunch of worthless paper to push around as the only way to make money. Tighten your seatbelts, because this is only the beginning. Lines of credit have dried up and it's only a matter of time before businesses won't be able to get the money they need and will start failing too. We are F---ed. "I love the smell of napalm in the morning. Smells like ... victory"
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Rank: Jimmy Hat Jester
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It's fear and it's fear brought on by the media. Wamu customers, fearful of the next great collapse, withdrew $16.7b in cash within the last 9 days. FYI, the great crash of 1929 was brought on by this same kind of fear that Wamu customers were hoping to avoid. get your ass to mars
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Rank: Polio Power!
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Saying this is the preludes to another depression is an overreaction. One, it's not all banks that are failing. In fact, most banks seem to be doing just fine. The Stock market hasn't crashed and doesn't appear to be even close to doing so. There's trouble, but this isn't bread line 25% unemployment Depression time.
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I'm with HolyJaw. The "meh" makes it so easy to just shrug it and go about one's daily business. The internet hasn't suffered from this so my company hasn't. I'm not in any danger of not getting paid, and my company isn't in danger of going bankrupt. But at the same time.. if there are political movements taking place that could set bad precendences, we should be watching that. Hindsight is 20/20 so we have to squint that much more at current events to see where they might lead.
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Rank: Coathanger Abortion
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RichardAwesome wrote:Saying this is the preludes to another depression is an overreaction. One, it's not all banks that are failing. In fact, most banks seem to be doing just fine.
The Stock market hasn't crashed and doesn't appear to be even close to doing so.
There's trouble, but this isn't bread line 25% unemployment Depression time. Things are bad for banks at a very fundamental level, look at the inter-bank lending numbers - it's been getting worse for several weeks and last week went beyond the Black Monday spike in 1987, last I saw it was still shooting up too. The banks are freaked out and scared to shuffle money around, which is something they depend on to continue functioning. If it doesn't change soon then still more banks will fail and the problem will get even worse. Razor wrote:Killing people is good therapy.
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Rank: Polio Power!
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Dick Cheney's Mechanical Heart wrote:RichardAwesome wrote:Saying this is the preludes to another depression is an overreaction. One, it's not all banks that are failing. In fact, most banks seem to be doing just fine.
The Stock market hasn't crashed and doesn't appear to be even close to doing so.
There's trouble, but this isn't bread line 25% unemployment Depression time. Things are bad for banks at a very fundamental level, look at the inter-bank lending numbers - it's been getting worse for several weeks and last week went beyond the Black Monday spike in 1987, last I saw it was still shooting up too. The banks are freaked out and scared to shuffle money around, which is something they depend on to continue functioning. If it doesn't change soon then still more banks will fail and the problem will get even worse. And the economy didn't collapse in 1987.
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