Stocks fall sharply despite aid to A.I.G, worst close since 2001

It was during the time that the United States was recuperating from the great depression that the government "wisely" put in place regulations that would limit banks and investment companies from investing in and creating "default loan" situations again.

For years before the great depression this was common practice to inflate the value of an institution over that of another, giving it a better credit rating to borrow more money from the Fed.

The Bush administration has in effect finalized the deregulated of the banking and investment industry, creating a false economy. The same type of economy that caused the Great Depression. The difference now from then is far more devastating in that we are now a global economy. Our money for the daily operation of the Government and investments made by the major banks and investment houses comes from foreign sources. In the event of default, as in 1929 the Fed could call due all bank and investment firm debt, but today, the Fed is the second holder of the loan, foreign governments are the lender and the first holder of the loan and will be paid first.

The big picture is frightening. If you pay a mortgage, or live in a building or house that someone else has a mortgage on, If you borrowed money for your business, even if you have a loan on a car or a personal loan backed by personal property, and this economy goes bust, the originating lender has the right to foreclose. Everything we own or hope to own, even our apartment will effectively become the property of a foreign country. This government has "Sold America" to foreign governments.

The philosophy that making more Fed money available to help struggling institutions is compounding the situation in that it is foreign capital that is borrowed to in-turn lend out. The United States of America has only $3 trillion dollars of actual money. It is currently $4 trillion dollars in debt, and that number grows significantly every day. It is economics 101, if the income does not exceed the outgo, debt cannot be reduced. If the income is less than the outgo, debt compounds.

One more tax cutting, budget deficit raising, reckless spending administration gets into office compounding this already horrific situation, this country will cease to exist.

Welcome all to Black Monday again....Remeber the Panic of 1907...1910...1913.......1920........oh and by the way the biggiest one of them all 1929 The Great Depression......this is when the FED sold thousands of people loans at 10 cents on the dollars, and then told all of those thousand of people to give the loans back...this my friends coining the phrase Black Monday..The Great Depression...it is on YouTube....research it please

go to youtube, and watch some film on the Federal Resevee Bank

Time to buy in the businesses.

What is perhaps as interesting as the economic implications is the fact that all of these recent forclosure/bail-outs have not really even registered in the presidential debates this month. Why not?

Reality crushed vanity today:

Today bad news rolled in 550 point dow loss, worst day for "W" ( Bush and Wallstreet) in 8 years!
Voters will connect the dots and they will vote from their wallets and their checkbooks.

Truth is, the scadals such as s&L, subprime, mortage/wallstreet and banking industry meltdown
have two names writen all over them! Not to mention unneeded wars based on duplicity and subversion that cost 3 trillion dollars- that may well last 100 years!

The two names all over these falied policies are Bush/McCain!

Connect the dots and you will see that Allen. Greenspan and a bevey of other finanacial experts are coming out on record to say- "we, the nation cant afford John McCain"!

This has very little to do with a female running for the GOP ticket as her policies are the same policies that have sent the nation into a headlong financial tailspin!

WWW.CUTTINGTHROUGHTHEMATRIX.COM
LISTEN TO ALAN WATT!!

What's going on? Who's in charge? Who's running things-into the ground? This is crazy.

What does anyone expect. All the jobs have been shipped out, the middle class is being erased, people are loosing everything they have worked for, Bush and the oil Co's are picking the bones of the skeleton of the average American worker. How much meat does anyone think is left?

I am going to stock up on can goods, water, and guns. I will be prepared for the chaos

This is scary news. Banks are failing, homes are being repossessed, and now the stock market is near crashing. It sounds like the second great depression to me.

I heard news about Bank of America slumping a bit? What's that about? Should I watch my money more carefully at their bank???

. . . what I cant believe is, that we are all paying for the mistakes of this corporate leaders and our taxes will be used to prevent their collapse . . . put someone in jail, at least, for this incompetence

Dont think that this is all just happening.....A Financial New World Order is in the works people, its unfolding before our eyes.

Nobody to blame but the bankers themselves, if you're a bank it's in your best interest to stay in business. If you can't do that and can't get your cronies to help-out, then you know you're a bad man.

Bankers and big corporations are who put these bastards in office, capitalism is in it's cancer stage next death. I suppose it will take another democratic president like FDR to pull us out of another republican depression. Come Obama you are the man.

WHY ARE WE BAILING OUT THESE COMPANIES?

Gravityaddicts - We're gonna start by Kicking the greedy whores out of DC, and then we're gonna get to work! We can restore the original spirit that this country was founded on by taking an active part in our governance and by becoming connected and staying connected, not only on-line, but in our local communities - nufesenuf! I am so tired of the BS and lies - do I sound angry - yes I do! Am I fed up and fired up? Yes, I am! We will have to do the hard work of clean-up, after the last 8 years of the rape and pillage of our society at the hands of big business, backed, by a certifiable idiot and his merry band, but we have no choice - and they want you to believe that community organizing is just fluff - want to know why??Because they fear it with all their collective black hearts - because they know that the people have power if they come together - it's the very last thing they want!

If we all get just a little smarter with our money... unless you are putting groceries on your credit card, you don't need it.

Yesterday, the story appeared in the news that employees were taking their personal belongings out of the building, while crowds looked on and took photos.

One employee shouted at the crowd, "Are you enjoying this? Do you think this is funny?"

Well dude, frankly speaking, yes and yes.

It is about time we let these corrupt institutions fall. Too often the neocons advocate that money be taken from the very people these institutions ripped off, to be used to bail them out, which is then followed by the layoffs of the employees anyway.

So, to the shouter, yes, we enjoyed it, and yes we do think it is funny.

Forget what they say about "Going Postal" !

Does anyone remember how many people survived the sinking of Titanic?

Another Great Depression you say? Doesn't sound unlikely...

Bush's cabinet supported deregulation of the morgate industry that opened the door for sub-prime mortgages. His cabinet secretary for housing and urban development attended symposiums in support of low-income earners financing housing through mortgages. The Fed raised interest rates when a.r.m.s were coming due instead of lowering them. There is plenty of blame for greedy bankers, but our government let this happen too.

Woah. Scary!

. . . I will like to put a lot of blame in the greed of the consumer, we knew what we could afford. We could ALL see this coming a mile away. But the greed of (politicians, government agencies, corporations and consumers) and the complacency of the rest, took the best of us.

It's time not only to change; but to reinvent ourselves. What are you going to do? We are a smarter-proactive generation.

looks like bushys economic stimulus aint doin a damn thing. we need to open our eyes america. cut off your nose to spite your face by keeping cannabis illegal? who cares if you dont smoke it. it has so many other uses. oh, and it would be a multi-billion dollar industry overnight. look at what oregon is proposing for 2010. oregon cannabis tax act. check it out on my profile. also hr 5843. now get these laws passed, theres economic upturn for ya. thanx nettle for the heads up.

I'd like to blame Bush, too, but the real culprit is the bottomless greed of the bankers and traders themselves. They deserve this.

another prime example of the failed policies of Bushco

wow..unbelievable and crazy

I'm no economist, but, YIKES!!!!!!!! This don't sound so good. I'd say stay out of NYC, lest you be hit by falling stock brokers!