2008 Financial Thread

[Kiwon]

Getting killed again today.

Down 9% right now.

Ditto.

[LL2]

And another bank got gobbled up....how many are there left?

[Freak Out]

What a goatfuck.

[Freak Out]

House just voted the bill down.

[mraynrand]

Good time to sell. SELL! SELL! SELL! PANIC IN THE STREETS!

[Freak Out]

Good time to sell. SELL! SELL! SELL! PANIC IN THE STREETS!

Almost time to BUY BUY BUY!

What was that thing Bush and Paulson put out there? 390 pages of garbage?

[LL2]

It is defintely a good time to buy. I wonder if the Dow will fall below 10,000. If something doesn't get passed soon it will take even more than the $700 billion to stop the bleeding. Maybe congress should let Wall Street go to hell and let Main Street pick up the pieces.

[LL2]

The grave yard of the financial / investment firms continues to grow.

1. Bear Sterns
2. Merrill Lynch
3. Lehman Brothers
4. Washington Mutual
5. Fannie Mae
6. Freddie Mac
7. Wachovia
8. ???? who’s next

[Scott Campbell]

Today reminded me of the reason average stock returns are so much higher than many other "safer" investments. You're being rewarded for taking on risks, like those we suffered through today.

[Kiwon]

Today reminded me of the reason average stock returns are so much higher than many other "safer" investments. You're being rewarded for taking on risks, like those we suffered through today.

Companies without any significant debt issues will rebound.

Seriously though, this is becoming a rare buying opportunity.

Do any of you capitalistic pig Packer Rats have some companies you really like at these prices?

[Scott Campbell]

Maybe it makes sense to start hedging by shorting a couple of crappy companies.

[Kiwon]

It is defintely a good time to buy. I wonder if the Dow will fall below 10,000. If something doesn't get passed soon it will take even more than the $700 billion to stop the bleeding. Maybe congress should let Wall Street go to hell and let Main Street pick up the pieces.

All I want for Christmas are indictments against Barney Frank, Chris Dodd, and all the former Clinton crowd at Fannie Mae that cooked the books and profited handsomely.

Charley Rangel, the man who oversees the tax code and then doesn't obey it, is too loveable to send to prison. Just kick his rear out of Congress and send him to his condo in the D.R.

That these jerks, these crooks, who oversaw this ridiculous Fannie and Freddie system and opposed reforming it in 2003 and 2005, are now part of the solution!!!

Greed is a problem everywhere but it's centered squarely in DC with lawmakers that go to Washington and never leave.

Who knows what’s in the bailout package but if these crooks had their way you can bet that “more government oversight” = more authority ceded to them to continue gaming the system. Everyone should be skeptical.

So somebody making $40,000 a year can’t immediately get into a $300,000 home. So what? Rent. And then save enough to make a reasonable down payment.

It’s socialist BS that every American has “a right” to own a home and that the government must facilitate. 50% of Americans pay zero federal taxes and then receive benefits on top of that. Why isn’t that help enough to get them to save their money for a down payment? No, instead the government sets up a ponzi scheme that has finally fell apart.

It’s time to get back to more free market solutions and less governmental control.

[Kiwon]

Maybe it makes sense to start hedging by shorting a couple of crappy companies.

Get shorty?

That's too risky for this PR. I let my subscription to George Soros' newsletter run out.

[Scott Campbell]

Maybe it makes sense to start hedging by shorting a couple of crappy companies.

Get shorty?

That's too risky for this PR. I let my subscription to George Soros' newsletter run out.

I'm not talking about a speculative short. I'm talking about something like 3 long positions to 1 short. Used as a hedge against market risk, I think it's another tool for diversification.

[HowardRoark]

Maybe it makes sense to start hedging by shorting a couple of crappy companies.

Get shorty?

That's too risky for this PR. I let my subscription to George Soros' newsletter run out.

I'm not talking about a speculative short. I'm talking about something like 3 long positions to 1 short. Used as a hedge against market risk, I think it's another tool for diversification.

There are a million homeowners that should not be homeowners......that is a lot of homes. Probably not much use for a homebuilder for a few years.