N Judah Posted October 2, 2008 Share Posted October 2, 2008 Banco Santander is looking into buying Wachovia.So who thinks that when credit dries up, there is no more credit? Can't we just get foreigners to invest in our companies? And if we need loans, I hear they offer those in other countries too. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 2, 2008 Share Posted October 2, 2008 Credit is not drying up for people that have solid credit history and solid co lateral to secure these loans. Credit is just dried up for people that don't qualify for credit. Now the lenders are forced to actually qualify a loan and research a borrower, Imagine the concept. What nerve, how dare than make someone qualify for a loan. Oh yeah, get this. It's no longer a Bailout Bill It's a Rescue Package Same Bill more bacon....new name. Link to comment Share on other sites More sharing options...
N Judah Posted October 2, 2008 Share Posted October 2, 2008 This bill sucks. I hope it doesn't pass. Link to comment Share on other sites More sharing options...
sevfiv Posted October 2, 2008 Share Posted October 2, 2008 HmmIronically, it is in the country of unfettered capitalism that the government now plans to intervene in the economy on a scale not seen since the Great Depression, and, with hundreds of billions of dollars, attempt to save the financial sector from failure -- out of fear of something even worse: an economic collapse with declining prices and widespread unemployment.This is no longer the muscular and arrogant United States the world knows, the superpower that sets the rules for everyone else and that considers its way of thinking and doing business to be the only road to success.A new America is on display, a country that no longer trusts its old values and its elites even less: the politicians, who failed to see the problems on the horizon, and the economic leaders, who tried to sell a fictitious world of prosperity to Americans.Also on display is the end of arrogance. The Americans are now paying the price for their pride.http://www.spiegel.de/international/world/...,581502,00.html Link to comment Share on other sites More sharing options...
memebag Posted October 2, 2008 Share Posted October 2, 2008 Also on display is the end of arrogance. The Americans are now paying the price for their pride.Nice. It's time for Americans to realize that unfettered capitalism is great for non-essentials, but too dangerous for anything that really matters. Hopefully we've learned that capital isn't safe from capitalism. Link to comment Share on other sites More sharing options...
sarahiki Posted October 2, 2008 Share Posted October 2, 2008 Credit crunch? what credit crunch? Today in the mail I received 5, yes 5, credit card offers. Two of them were from Washington Mutual. All are shredded and discarded. Link to comment Share on other sites More sharing options...
TJones Posted October 2, 2008 Share Posted October 2, 2008 Credit crunch? what credit crunch? Today in the mail I received 5, yes 5, credit card offers. Two of them were from Washington Mutual. All are shredded and discarded.There is only a credit crunch for those with below 650 beacons. I highly recommend anyone with stupid little medical debts of like $300 and if you owe time warner $300 or at&t like $200 or your cellphone bill that you said "screw them !" on. If you have these little piddly things out there, and you are getting warning letters. GO PAY THESE IMMEDIATELY ! Link to comment Share on other sites More sharing options...
RedScare Posted October 2, 2008 Share Posted October 2, 2008 ...all he can do is authorize more drilling to make more oil available to further lower the price of oil and hopefully the price of gas will follow suit.Whoa! Talk about drinking the Kool-Aid! Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 O'Reilly went WWF on Frank yesterday, I laughed so hard I about cried...........And for best male performance in a Drama the winner is................Envelope please..... Link to comment Share on other sites More sharing options...
crunchtastic Posted October 3, 2008 Share Posted October 3, 2008 Banco Santander is looking into buying Wachovia.So who thinks that when credit dries up, there is no more credit? Can't we just get foreigners to invest in our companies? And if we need loans, I hear they offer those in other countries too.Just announced--Wells Fargo is buying Wachovia. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 Does anybody have any feelings on this new "Rescue Bill" and whether or not they get it passed today? I got a feeling they don't even trot it out because they are unsure if they have the votes and don't want to kill it on the floor. Pelosi said yesterday that it will not be brought to a vote unless they are "Sure" they have the votes to pass it. Looks like it may be a long weekend.Just announced--Wells Fargo is buying Wachovia.All right that means I'll have East Coast ATM's for WF now I hope. Still none in Louisiana or West Virginia, since there are no Wachovia locations there. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 Under the Wells Fargo proposal, each share of Wachovia common stock will be exchanged for 0.1991 shares of Wells Fargo common stock, representing a value of $7 per share, based on Wells Fargo's closing stock price on Oct. 2, 2008. Link to comment Share on other sites More sharing options...
crunchtastic Posted October 3, 2008 Share Posted October 3, 2008 AIG will sell American General (as well as the retirement plans units VALIC, SunAmerica). No further news on the negotiations with our suitors, yet. They run a tight ship around here. 5 minutes before the press conference started, the email detailing the severance package went out.Does anybody have any feelings on this new "Rescue Bill" and whether or not they get it passed today? I got a feeling they don't even trot it out because they are unsure if they have the votes and don't want to kill it on the floor. Pelosi said yesterday that it will not be brought to a vote unless they are "Sure" they have the votes to pass it. Looks like it may be a long weekend.Just my gut, I think it's not going to be the cakewalk anticipated yesterday. Still a lot of very angry constituents calling their congress critters.Also, you've got more people on the fringe in the house. The oppostion is on the far right and far left ends, and the senate, a much more centrist body, still had 1/3 voting against. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 Damn Crunch is that good or Bad news for you?AIG will sell American General (as well as the retirement plans units VALIC, SunAmerica). No further news on the negotiations with our suitors, yet. They run a tight ship around here. 5 minutes before the press conference started, the email detailing the severance package went out.Just my gut, I think it's not going to be the cakewalk anticipated yesterday. Still a lot of very angry constituents calling their congress critters.Also, you've got more people on the fringe in the house. The oppostion is on the far right and far left ends, and the senate, a much more centrist body, still had 1/3 voting against.Yeah yesterday they trotted out folks from both sides, on the record, not happy with all the add on, left me with a bunch of question marks. Link to comment Share on other sites More sharing options...
crunchtastic Posted October 3, 2008 Share Posted October 3, 2008 Damn Crunch is that good or Bad news for you?Absolutely no way to tell right now. I'm more encouraged that foreign buyers are interested, because it makes sense that they keep our business running smoothly for the policyholders and to keep on increasing market share. I would be much more worried if, say, a Met Life or a Prudential were sniffing around. They could easily absorb large parts of our marketing and distribution operations. Hell, I've been working on a skeleton crew for years. No fat in my group.The severance package is very generous--which is a clear tell that they want people to stay to see it through, rather than jump ship ahead of a deal. Link to comment Share on other sites More sharing options...
RedScare Posted October 3, 2008 Share Posted October 3, 2008 Economy lost 159,000 jobs last month....get ready for Dow to dive again. If I am not mistaken, just a few more points and the Dow will be negative for the entire Bush presidency. Only Hoover and Nixon have managed to do that. NO two term president has ever done it. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 Here's some interesting readinghttp://www.factcheck.org/elections-2008/wh...mic_crisis.htmlCSPAN is wide open again. These guys are priceless with the BS they will say, to make some obscure point. What's this racetrack tax break deal, NASCAR is invading the damn Bill too? Jeez Louise........ Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 Well it's a done deal, Bush signed in and the DOW has dropped like a rock. Hmmmm imagine that. Link to comment Share on other sites More sharing options...
crunchtastic Posted October 3, 2008 Share Posted October 3, 2008 And now for a little levity........have you heard about the new hedge fund?Strategery Capital Management, LLC http://strategerycapital.com(pulled from The Big Picture blog, who got it from someplace else.....) Link to comment Share on other sites More sharing options...
Zippy Posted October 3, 2008 Share Posted October 3, 2008 Economy lost 159,000 jobs last month....get ready for Dow to dive again. If I am not mistaken, just a few more points and the Dow will be negative for the entire Bush presidency. Only Hoover and Nixon have managed to do that. NO two term president has ever done it.Let's ignore that both houses of Congress were owned by the Dems the majority of the time for the last 40+ years.. They have nothing to do with economics right? Like taxing and spending.. Link to comment Share on other sites More sharing options...
west20th Posted October 3, 2008 Share Posted October 3, 2008 Let's ignore that both houses of Congress were owned by the Dems the majority of the time for the last 40+ years.. They have nothing to do with economics right? Like taxing and spending..The dems had the majority for most of the last 40+ years, but only 1.5 of the last 8. What's to ignore? I can't believe you are still trotting out that tired old GOP "tax and spend" line. The last eight years have proved no one spends like the GOP. If they spend it someone, sometime has to pay for it. The GOP "tax later, spend now". Link to comment Share on other sites More sharing options...
Zippy Posted October 3, 2008 Share Posted October 3, 2008 I'm not defending the tax and spend repubs.. they deserved to loose the Congress because they were spending like drunk democrats.. but to say that dems were sitting on the sidelines and had nothing to do with anything, and it's all that G-D evil president's fault.. it's disingenuous.. And the bailout plan: FAIL ! Dow down -157.15 today Link to comment Share on other sites More sharing options...
OkieEric Posted October 3, 2008 Share Posted October 3, 2008 Is it time for vice stocks? I feel like drinking (and even smoking) more than ever... Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 And now the precedence has been set, California is asking for $7 Billion in bailout help.......you go Arnie!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
crunchtastic Posted October 3, 2008 Share Posted October 3, 2008 And now the precidence has been set, California is asking for $7 Billion in bailout help.......you go Arnie!!!!!!!!!!!!Funny, just last week Ahhhnold vetoed a mortgage reform bill.....http://www.bizjournals.com/sacramento/stor...22/daily53.html"Wall Street won and Main Street lost when Gov. Arnold Schwarzenegger vetoed a subprime mortgage reform bill Thursday, author Assemblyman Ted Lieu said.Assembly Bill 1830 would have barred brokers and lenders from making false statements and steering borrowers to high-cost loans. It sought to stem problems in the mortgage industry by tightening restrictions on how they are sold in the first place." Link to comment Share on other sites More sharing options...
houstonmacbro Posted October 3, 2008 Share Posted October 3, 2008 And now the precidence has been set, California is asking for $7 Billion in bailout help.......you go Arnie!!!!!!!!!!!!Ah, Republican leadership at its finest. Link to comment Share on other sites More sharing options...
memebag Posted October 3, 2008 Share Posted October 3, 2008 I'm not defending the tax and spend repubs.. they deserved to loose the Congress because they were spending like drunk democrats.. but to say that dems were sitting on the sidelines and had nothing to do with anything, and it's all that G-D evil president's fault.. it's disingenuous..I don't see anyone saying that. Both parties let it happen, but the Republicans cried a bit louder for deregulation than the Democrats did. And this will be a big part of Bush's legacy, regardless of any of that. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 3, 2008 Share Posted October 3, 2008 I'm getting in line and going to ask for a billion, what the hell, everyone else is. Link to comment Share on other sites More sharing options...
editor Posted October 3, 2008 Share Posted October 3, 2008 O'Reilly went WWF on Frank yesterday, I laughed so hard I about cried...........And for best male performance in a Drama the winner is................Envelope please.....That was pretty good. I'm not a big Barney Frank fan, but at least he doesn't run from the TV cameras like so many of the people who are supposed to be representing us.I don't understand why O'Reilly started screaming. I guess that's his style, but it was far from necessary. I tend to vote conservative, but after watching that clip I like Frank better than O'Reilly. Link to comment Share on other sites More sharing options...
editor Posted October 3, 2008 Share Posted October 3, 2008 It's weird to think that HAIF stock is worth more than Wachovia. Link to comment Share on other sites More sharing options...
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