Show-me Account Talk

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The Fed will come through for AIG - that's just common sense to prevent further wash out around the globe. They need to stop the domino effect - after all they created this massive problem with their 17 interest rate increases trying to kill the housing industry. It will take alot more pain to get me in panic mode. This is definitely an opportunistic buying time.
 
It is being reported that if they do not raise $75B plus, closer to $100B they will be force to file bankruptcy on Wednesday. It is reported that most major international investors like Taiwanese bank consider AIG done. No one will raise that kind of money in this environment.

Where is Underdog when you need him?
 
Show-me said:
Yep, AIG is done! One trillion dollars on the balance sheet, poof!
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OMG!

Joe Lavorgna just said this could be "financial Armageddon"

Former Atlanta fed president on CNBC right now says they (FED) won't do anything...too difficult to get 70-100 billion overnight.

Even if the FED comes through, it turns AIG into a penny stock, right???

BE KIND...UNWIND!!!
 
Birchtree said:
The Fed will come through for AIG - that's just common sense to prevent further wash out around the globe. They need to stop the domino effect - after all they created this massive problem with their 17 interest rate increases trying to kill the housing industry. It will take alot more pain to get me in panic mode. This is definitely an opportunistic buying time.
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Even your boy Kudlow sez they can't. They don't have the bullets to spare. That is why they let LEH fall. FRE and FNM are going to kill them in the next few months with back stopping. We are talking HUNDREDS OF BILLIONS OF DOLLARS, NO WAIT TRILLIONS OF DOLLARS. And, more mortgage resets to come.

The CNBC crew finally got it right tonight. The Fed will do nothing more after BSC because they see the "domino effect" coming at them.

Game over private sector, sink or swim! Why do you think they are trying to get the private sector to put up a pool of money to lend from. They are trying to pool $70 B and that is a drop in the bucket.

Wilbur Ross came out today and said that there will be thousands of regional bank failures.
 
I'm going to get beat in the C fund, I should have followed you guys to the Gee. I did not want to use my two bullet up so fast. <very strong language used in this spot> FRTIB!:mad:
 
Birchtree said:
The Fed will come through for AIG - that's just common sense to prevent further wash out around the globe. They need to stop the domino effect - after all they created this massive problem with their 17 interest rate increases trying to kill the housing industry. It will take alot more pain to get me in panic mode. This is definitely an opportunistic buying time.
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Has it occured to you that maybe the Feds are saving their ammo for WM or somebody bigger?

Or how about the possibility that the ratings agencies were given the green light to downgrade by the Feds?

For your sake, I hope you're right.
 
No matter what happens tomorrow I'm cool and will handle the consequences - so lead me to the trough. You know the government of Iraq has plenty of money - wouldn't it be someting incredible if they steped forward to help AIG. Just a thought.
 
Birchtree said:
No matter what happens tomorrow I'm cool and will handle the consequences - so lead me to the trough. You know the government of Iraq has plenty of money - wouldn't it be someting incredible if they steped forward to help AIG. Just a thought.
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LOL, whos meds are you stealing?:nuts:
 
Click on the below chart and follow the time line. We ain't seen nothing yet, short of a miracle.

http://stockcharts.com/h-sc/ui?s=XLF&p=D&st=2008-01-01&id=p26694867262

http://www.reuters.com/article/idUSN1445176620080914?pageNumber=3&virtualBrandChannel=0

BEAR STEARNS, March 16, 2008

Hard-hit by its heavy exposure to the faltering U.S. mortgage market, Bear Stearns teetered close to collapse after an acute cash shortage caused its trading partners to lose confidence in the firm. But the Federal Reserve and Treasury brokered a weekend deal for JPMorgan Chase & Co. to buy Bear Stearns at a rock-bottom price, with the Fed agreeing to guarantee $29 billion in Bear Stearns assets taken on by JPMorgan. The first brokerage rescue since the Great Depression was done to avert a feared market meltdown and was accompanied by a new Fed lending facility for so-called primary dealers.


INDYMAC, JULY 11, 2008

Federal regulators seized control of Pasadena, California-based IndyMac Bank, the ninth-largest U.S. mortgage lender, after a massive run on deposits and mounting loan defaults. The bank, which had $32 billion in assets and once specialized in "Alt-A" home loans that often did not require borrowers to fully document income or assets, also faced losses on mortgages it could not sell into tight capital markets. The IndyMac failure, the largest this year and the third largest commercial bank failure ever, was expected to cost the FDIC about $8.9 billion from its $52.8 billion insurance fund.


FANNIE MAE, FREDDIE MAC, SEPT. 7, 2008

The government seized control of mortgage finance institutions Fannie Mae and Freddie Mac to stabilize them after massive falls in their share price made it impossible for them to raise needed capital to sustain mounting mortgage losses. The Treasury's move to put the government-sponsored enterprises into conservatorship and inject up to $100 billion into each gave their debt and mortgage-backed securities a full U.S. government guarantee. It was aimed at restoring investor confidence in the firms and keeping funds flowing into the mortgage market to help stem the collapse of the U.S. housing market.
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I hope WAMU stays afloat too Z. They have actually been a very service oriented bank for many years..Their problem is a big one however, because the issue is now so much more than home loans...it's all kinds of loan and credit..

Makes me wonder when we can say we've hit the bottom..Guess we'll know when we get there.....all these problems because of that five letter word...GREED..so sad..

FS
 
350zCommTech said:
I truly hope that WM is too big to fail. They service my mortgage and I'm become more afraid that they might not pay my taxes.:worried:
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Same here 350, our escrow pays for taxes and home owners insurance, luckily they are local even though WM services my mortagage. I'm assuming that our mortgages will just get bundled and sold to someone else, if it comes to that. Keep good records.

CB
 
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