Banking.
Sorry to bump Robot's rather fabulous post. But there is a real possibility of another major non-bank failure(bear stearns wasn't a 'bank', it was a broker-dealer, like lehman) in the next couple weeks - and a subsequent sure meltdown of the financial system.
posted by John Liberty at 10:58 PM
5 Comments:
HERE COME THE LAYOFFS!!!!!!!!!!
how long will it go on??? there will be a lull in the winter..but then in 2009, $500 billion worth of option ARMS will reset.
this is another tsunami that hasn't hit the shore yet. this will go on for a long ass time.....while i could make so much money off this shit..i think ill go back to school instead and revel in my job security!!
"All that is human must retrograde if it does not advance. "
-Gibbons
Former disgraced Baltimore Oriole and steroid abuser Jay Gibbons said that?
In seriousness, you may very well be right that there exist several financial indicators--particularly in the commodities market, which you've been pointing out for a while now--that don't bode well for the future; but, do you think it's at all possible that a Democratic sweep this November could at least buffer this fall? I think the political winds may be just right (or at least I hope so) for talk of "going after oil speculators" to become reality. That, or I'm just continuing to set myself up for what will prove to be a devastating descent into political cynicism.
Post a Comment
<< Home