Simviation Forums

I'm watching in the news, even both candidates has suspended their campain, I heard It could drive to another 1929 crash

Sorryy I didn't want to sound alarmist, but by reading history this is not a local issue , (I mean this doesn't concernt JUST USA ) Many countries were seriosly affected in the 29...I read..At Least my country was one.

But maybe I'm post this too fast , I turn on the tv and I saw many channels on cable with the tip

I'm afraid this far more serious than we're allowed to know. There is no solution in the works.. what we're seeing is some stalling, so that those facing jail time can try to cover their tracks... both in Washington, and on Wall Street.

Just stop and think about what they're expecting us to believe. A 700 billion dollar "loan" (code for print the money and give it to the banks) amounts to $2,300 for every man, woman and child in the country. Not every household, but every person. For a household of four, that's $9,200. In case you don't understand economics.. allow me to point out that this country is already 10 trillion dollars in debt, and adding to it every day. Where does a country who owes more than THREE times what it collects in tax revenue (money that's already spent) think that an extra $700,000,000,000

Brett.....you are an astute observer of the US "system".

Some analysts are saying this federal fix will end up closer to a trillion dollars. By the time all the so called experts all earn thier commisions and end up bailing out these greed driven corporations. AIG was to big to fall and would have caused a financial crisis through out the world.  AIG bought out two of my life insurance companies years back. when my wife passed away 4 years ago I didnt even know who to call untill AIG sent me a letter about updating our life insurance. The CEO's of these large companies need to be held accountable for their greedy actions. They should have had the guts to tell tell their shareholders that this is not the way to do business. Now they have already made huge salary and commissions so they leave the office and retire to their mansions and hide away from the public. Some blame has to go to people who borrowed mortgages without any money to back themselves if they could'nt flip their property.
Sorry to carry on like this but I am a little angry with a few CEO's    

I'm glad this has been brought up here, I know we try and stay away from politics but the latest from the richy rich ding dongs has me furious!

My plan is really simple, let the market fail. "IT WILL" bring about hard times, but most of the middle and lower classes would be OK during this crisis, because the hardest working sector of the economy is resilient and can make do with little or nothing.

If the economy were to fail you would weed out the upper 2% who is use to having their butts wiped with gold toilet paper. They would not be able to cope with little or nothing and they would fail to exist. This will give room for the honest hardworking and intelligent..

The only message a bailout gives is that its OK to do things that are not for the greater good. Nothing would change in the economy, you will just prolong the inevitable. In addition don't count on our already large government to be able to regulate these institutions properly. Give a man a fish he eats for a day, teach a man to fish he will eat for a lifetime.

Many people have been asking where were the "checks and balances". They don't exist when government officials profit by looking the other way, knowing this why would we trust the government to regulate?

I have said in the past that our greatest generation(WW II vets) is why our country has been as successful as it has been. When you bleed together and face unimaginable adversity, as did the military during WWII, you gain an appreciation for the greater good. This attitude doesn't exist anymore in the majority of the people in this country.

IMO the lack of moral obligation is why we are where we are today!!!

Thats why as President......JUST KIDDING!!

Been going on since the late 1990s, since the passage of of a bill lessening regulation. It's only finally gotten bad enough to cause major ripples in the financial markets. There was a bill up in 2005 to restore regulation, but it wa killed on Senate floor.

 The American public should also shoulder part of the blame too with their lack of savings, high credit card debt, and taking on shady housing loans.

Couldn't agree with you more, I cant tell you how many people I know who go food shopping with a credit card because they spend too much money on a car, house, boat etc...etc...

This all has me worried...it just seems to be getting worse, no better. America is plummetting and many MANY other countries will suffer as well... could we be looking at another depression...? :-/

You all need to go on line and look at your newspaper sites(LA Times,Washington Post,New York Times even overseas sites)and see what is being written.

Information is available and informed commentary also.

Everyone involved in this fiasco is guilty,from people who applied for loans they could not afford to those who gave them to them. To those who oversaw those deals and those who hid them in 'securities' and on sold the problem around the world.

It seems this bailout will not be the end of the story and predictions are of a recession in the US and Europe within the next six months with rest of the world to suffer as a consequence.

A slow down in the Chinese economy(possible) also will have a negative effect.

Governments around the world have banned naked short trading(simply to my mind NAKED THEFT!!)and regulated other short trading in an attempt to undo some of the damage.

This is a complex problem that stems it seems from a free market approach(unfettered capitalism)that has failed.

Unfortunately it is usually the innocent that go down as well.

You aren't alone,people all over the world are caught in this.

Col.

.......and I turn on the news and there is George Bush saying if his bailout bill is not passed there will be a recession and comment from our own bankers(Australia)is that we will go down too!!

Col.

This isn't the fault of captalism...

In short:  

"If the feds don't print a bunch of money and just give it to us, so that we can keep this scam going.. we'll take our money and go home.. and the stock market will crash completely"

Actually I have no problem with capitalism. It's the unfettered,free market,greed is good version I disagree with.

As for corrupt oversight it appears there was no oversight or at least very little. The FBI in,I believe,2004-5 raised an alarm over what was happening and the head of the department asked for more staff to investigate and was refused. He has since retired and does not wish to be interviewed.

Oversight is one thing that has been resisted for years.

There are many articles available to all to read and assess if you wish to find them.

Col.

My brother bought a $280,000 brand new home just outside of Las Vegas 2 years ago and he had no proof of income to show for it. His wife was not even working and some "punk mortgage broker" was able to secure them a loan.
Now tell me, how do you give a couple a $280,000