Wall Street Prepares for Potential Lehman Bankruptcy (possibly by midnight)

I haven't contributed to a 401K in years. I got tired of watching the value drop faster than I put money into it, and that was like ten years ago. Now I'm spending most of my money on home improvements, doing the work myself, at least that way I figure I'm investing in something tangible, instead of some house of cards that wall street built.

On the bright side, maybe something good will come of this, like tighter regulations on investment practices. 'Course we've been through this before, and the economists and politicians seem to have a bad memory, maybe they smoke too much weed.

 

Or maybe they don't smoke the right kinda weed.....otherwise they would come up with a system that advances not keeps fucking us in the ass.

 

Or perhaps that is their plan.

 

That is true. Though I doubt they are sitting around in little smoking circles on sides of mountains connecting with nature and planning the take over of the world.

 

Relax.

 

Of course not. They love us.

 

LOL....this is so true. Everyone loves their pets or pawn pieces. Still don't think they smoke weed though

 

So when will the Bank of America go under?

 

AIG is the next one to go.

http://online.wsj.com/article/SB122148503202636197.html?mod=special_coverage

 

"American International Group Inc., which is seeking emergency funding to shore up its balance sheet. A faltering of the world's largest insurance company likely would have financial implications far beyond that of Lehman, the largest U.S. bankruptcy in terms of assets. THIS WILL BE THE NEXT GROUP TO FALL,---AS THEY FACE THE CLAIMS FROM THE HURRICANES. IKE IS OVER 30 BILLION ALONE!!"

It's game over superpower America. We've been on a downward spiral for decades, now it's obvious. Maybe we should have saved a bit of that defense budget?

As Lenin observed, "War, economic collapse, and hunger are good for Socialism".

 

Whoa. AIG Insurance now. Crazy world.

I guess the people who are running these companies/banks didn't rub enough elbows with the elites, eh?

 

Are you kidding me? This only benefits the elite because what we are seeing is a consolidation occurring. I can guarantee you that the big boys at the top are not hurting from this in the least. It's the average shareholder that is. It also hurts the average working class taxpayer when the government decides to bail them out with the people's money.

 

https://www.youtube.com/watch?v=KC9XfcJFeOM

Oh the irony

 

Bank America just bought Merrill Lynch which was headed the same way as Lehman and AIG. They appear to be one of the last ones standing right now.

 

A prediction that came true
In the politics section of all places!!!
WOW
Whatever next?

 

id say its a toss up between them and WAMU myself..

 

you aint seen nothin yet..

 

I'm judging this on predictions made.
I aint seen nothing yet?
I'm waiting to be told.

 

im not wasting my time with you odon..

ive said what i believe is coming. ive gave a general timeline many times on here and from what i see in the markets that timeline is still accurate. by the time the story unfolds completely i will no longer be here so its irrelevant to me to rehash what ive already stated a dozen times here..

BTW,i got news for you,the UK may be "catching a cold" at the moment,but soon enough its going to turn into pneumonia...

 

It's easy to win when you make the rules, but I dunno that I'd say all the big boys aren't hurting from this. 'Course while most of us were asleep the other night those hard working stock brokers working for the elites were busy moving their funds into bonds. Certainly anyone with enough money to have a diverse enough financial portfolio can't be hurtin' too bad, and those that were vested in the bond market made out like bandits.

Soo, with all this consolidation going on, what's next, one big bank running the entire show? Not that that'll make much of a difference other than the perception of choice will be eliminated. The game will remain the same in the sense that the more you bring to the table, the more you make, and if you're poor, well, it'll cost ya.

Would you care to expound on this? Just curious.