The Bank of the USA?

[wonatthewire1]

Bear Sterns was just the start - but being a investment house, wouldn't be prudent for the govt to take it over...

But a regular bank is a different story - here's a relatively big one getting seized by the govt - and it is just starting...

The bottom is when you think you don't know where it is going to stop - we are just at the beginning...

http://news.yahoo.com/s/ap/20080711/ap_on_bi_ge/indymac

[wonatthewire1]

Here's an interesting snapshot of Wachovia

In four quarters, they went from $2.3 billion in net income to a loss of $707 million

That is how fast it turned on them (and everybody else)

http://finance.yahoo.com/q/is?s=WB

[cmoore]

The Federal Reserve makes most of their money during wars and bailouts...I guess they've hit the jackpot. Fannie Mae and Freddie Mac are likely next on the federal reserve loan line. And guess who's paying off these loans, you got that right, "Me and You". Let's offer all these storybook, low interest enticing loans to everyone that breathes on these over appraised homes and make lots of money now. When the bubble bursts, we already got ours and the Federal Reserve will bail us out so the economy really doesn't take a shit.

[wonatthewire1]

The Federal Reserve makes most of their money during wars and bailouts...I guess they've hit the jackpot. Fannie Mae and Freddie Mac are likely next on the federal reserve loan line. And guess who's paying off these loans, you got that right, "Me and You". Let's offer all these storybook, low interest enticing loans to everyone that breathes on these over appraised homes and make lots of money now. When the bubble bursts, we already got ours and the Federal Reserve will bail us out so the economy really doesn't take a shit.


You got it CMoore - yet the fake conservatives will be jumping up and down that the bailout happened to secure their money - but cry about taxes?

Then say that the govt is turning Socialist - but be happy that there was a safety net ((( :faint: ))) for them - but when a Vet is homeless - no help for you buddy!

Interesting country of whiners - pass the iced latte Bubba!

:ThmbDown:

[skate]

Well ok, but where have you been for the last forty years? Err 100 years.?


Take a breath. And if that ( the breath) pisses you off, wammmmo, you found the real problemmmo.;)

[ddog]

believe it or not , some people have been calling for the Fed to be abolished for longer than 30 years.

I know one for sure.
Some people don't need their face rubbed in "it" to KNOW it stinks.