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Hello, everybody!Do you think that financial crisis will end soon?... Stackers' Lounge forum

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    Goalpcamp's Avatar
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    Economics

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    Hello, everybody!Do you think that financial crisis will end soon?

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    nope. Kramer from mad money thought 2 weeks ago the dow needs to adjust to 8000 before there is stabilization in the market.

    With the ebb and tide of the numbers it looks like its shaking out to be true.

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    http://www.newsday.com/business/ny-l...,4828808.story

    "Mad Money's" Cramer: Get out of market now

    Former hedge fund manager who hosts "Mad Money" nightly on CNBC shocked the business world by going bearish, saying the market's unsafe for investment for the next five years.

    "Whatever money you may need for the next five years, please take it out of the stock market right now, this week," he said. "I do not believe that you should risk those assets in the stock market."

    __________________________________________________ ________________

    He said this today.

    I constantly check http://bankimplode.com/ for info about failing banks, not too mention Google Finance for general market info.

    Personally, I think it was a huge mistake to bail out Wall Street with taxpayer money.
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    What else could they do?

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    hardxx's Avatar
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    Quote Originally Posted by vince1 View Post
    What else could they do?
    easy.

    give every home owner $100,000

    Give everyone who pays rent $50,000

    You can use that money to: pay down mortgage principle if you are current or bring your mortgage out of foreclosure. If you have cc debt you can pay that. You can save it in the bank.... All of these things would still goto the banks anyway. But the folks who are hurting would not be hurting anymore.

    Ironically.... it would cost less than 700 billion and make too much sense. Hence it was not done.

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    I'm hurting as well...

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    Quote Originally Posted by hardxx View Post
    easy.

    give every home owner $100,000

    Give everyone who pays rent $50,000

    You can use that money to: pay down mortgage principle if you are current or bring your mortgage out of foreclosure. If you have cc debt you can pay that. You can save it in the bank.... All of these things would still goto the banks anyway. But the folks who are hurting would not be hurting anymore.

    Ironically.... it would cost less than 700 billion and make too much sense. Hence it was not done.
    That money would have to come from the taxpayers anyway

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    They would never gift taxpayers with money. They are more than happy to help out their friends in big business. The simple taxpayer is simply not important.

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    Just found an interesting site. http://sadguysontradingfloors.tumblr.com/


    Last edited by j llama; 10-08-2008 at 01:33 PM.
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    invoice from AIG executive getaway after they were bailed out
    http://oversight.house.gov/documents/20081007102513.pdf

    As it happens, congressional investigators released AIG documents earlier in the day showing that the company paid more than $440,000 for the event, including nearly $200,000 for rooms, $150,000 for meals, $23,000 in spa charges and almost $7,000 for golf outings.
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